CXN Circle Grp. Holdings

MUNDELEIN, Ill., May 23 /PRNewswire-FirstCall/ -- Circle Group Holdings, Inc. (AMEX:CXN), announced today that it has filed a Definitive Proxy Statement with the Securities and Exchange Commission regarding a Special Meeting of Shareholders for the purpose of amending its Articles of Incorporation to change the Company's name to Z-Trim Holdings, Inc., as well as to change the manner in which future amendments to the Articles of Incorporation are approved. The Special Meeting of Shareholders will be held at 10:00 a.m. on June 21, 2006 at the Company's headquarters in Mundelein, Illinois. There will be no shareholders meeting May 24. The record date for the Special Meeting of Shareholders was May 15, 2006 The definitive proxy statement and other relevant documents are filed with the SEC. These materials will contain important information and investors will be able to obtain these documents free of charge at the SEC's website, http://www.sec.gov/ and at Circle Group Holdings' website, http://www.crgq.com/ . About Z-Trim(R) Z-Trim, http://ztrim.com/ is a natural zero calorie fat-substitute made from the hulls of corn, oats, soy, rice and barley that lowers 25% to 50% of calories from fats in most foods without negatively affecting taste or texture. Z-Trim generally can't be detected by consumers when formulated correctly in dairy, dressings, dips, sauces, baked goods, processed meats, snack foods, cookies, pies, cakes, icings, brownies, bars, ice cream, milk shakes and many other foods. It improves texture significantly; makes meats juicier, baked goods moister, dips creamier. Z-Trim lets you to eat more of the foods you love without fear of weight gain and allows you to lose weight without giving up the foods you love. Z-Trim adopts the flavor and mouth feel of most recipes and reduces aftertaste in most foods. It has been proven in studies that a majority of consumers prefer Z-Trim foods over their full-fat counterparts. Z-Trim can substantially reduce harmful Trans and saturated fats and adds healthy insoluble and soluble dietary fiber which can be beneficial to heart patients and diabetics. Z-Trim can improve digestion without any negative side effects sometimes associated with other fat substitutes. Z-Trim has been featured on Fox News "Your World w/ Neil Cavuto"; USA Today, Chicago Tribune, as well as local affiliates of NBC, FOX and CBS. Forward-Looking Statements and Risk Factors Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties. Circle Group Holdings, Inc. and its directors and executive officers and other members of its management and employees, may be deemed to be participants in the solicitation of proxies from shareholders of Circle Group in connection with the proposed amendments to the Articles of Incorporation. Information about the directors and executive officers of Circle Group and their ownership of Circle Group stock is set forth in the preliminary proxy statement and in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005. Contact: Steve Cohen Voice: 847-549-6002 Email: DATASOURCE: Circle Group Holdings, Inc. CONTACT: Steve Cohen of Circle Group Holdings, +1-847-549-6002, Web site: http://ztrim.com/ http://www.crgq.com/

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