Delray Beach, Florida — March 10, 2010 — Celsius Holdings, Inc. (Nasdaq: CELH), announced today that in three different transactions the company has converted to common stock approximately $5.1 million of its convertible debt and all of the remaining preferred shares.
CDS Ventures of South Florida, LLC, a company controlled by Carl DeSantis, today agreed to convert $4.5 million of the $6.5 million outstanding balance of its convertible debt to common stock at a conversion price of $10.20, and will be issued 441,176 shares. In the event the overallotment option of the company’s secondary public offering is exercised within 45 days of the offering, the proceeds of approximately $2 million will be used to pay the remaining balance of the convertible debt.
CDS also converted all of its series A preferred shares to 2,103,446 shares of common stock. Also, another holder of $615,000 in convertible debt elected to convert it to 176,659 shares of common stock.
Geary Cotton, Celsius’ CFO said, “With the exception of the $2 million of remaining convertible debt the company is essentially debt free. With this announcement, and the recent secondary offering, shareholders equity has increased by approximately $18 million. The number of outstanding shares of common stock is today 18.4 million, not including outstanding options and warrants.”

About Celsius Holdings, Inc.
Celsius Holdings, Inc. (Nasdaq: CELH) markets Celsius®, the original, great tasting calorie burner that is backed by science, through its wholly-owned operating subsidiary, Celsius, Inc. Celsius, Inc. is dedicated to providing healthier, everyday refreshment through science and innovation. Information about Celsius Holdings, Inc. is available at our website. More information about Celsius, the original, great tasting calorie burner, is available at

Forward-Looking Statements
This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Celsius Holdings' future results of operations and/or financial position, or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would,” or similar words. You should not rely on forward-looking statements since Celsius Holdings' actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; and other risks and uncertainties discussed in the reports Celsius Holdings files from time to time with the Securities and Exchange Commission. Celsius Holdings does not intend to and undertakes no duty to update the information contained in this press release.

Contact Info:
Geary W. Cotton (866) 4-CELSIUS or
Jan Norelid (866) 4-CELSIUS or
Source: Celsius Holdings, Inc.

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†Celsius alone does not produce weight loss in the absence of a healthy diet and moderate exercise. In a 10 week published university clinical study in the Journal of International Society of Sports Nutrition with sedentary men and women, the group who drank one Celsius per day experienced Significantly Better Results.
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