Affiliate Company Update

    19 January 2006

                           Sky Capital Holdings,Ltd.                           

                             (Sky or the Company)                              

  Sky Capital Holdings, Ltd affiliate, Advanced Spinal Technologies announces  
              opening of first treatment clinic in New York City.              

Sky Capital Holdings, Ltd whose shares are admitted to the AIM market of the
London Stock Exchange, is delighted to announce on behalf of its 18 % owned
affiliate, Advanced Spinal Technologies, Ltd (AST), that the first practice
featuring the patented, and FDA cleared, Advanced Spinal Mobilization
Instrument in New York City opened on January 17, 2006.

The New York practice, Advanced Spinal Physical Therapy of New York, is
operated by a licensed physical therapist and managed by AST. The practice will
accept patients referred by physicians who suffer from back and neck problems.
The practice's licensed physical therapists will evaluate and treat patients
using the unique, patented and FDA cleared device in conjunction with a
proprietary and specially designed "state of the art" treatment table.

The Advanced Spinal Mobilization Instrument has been in use in England and
other countries for five years, and many patients have been successfully
treated. Outside the US, the device is marketed as the Technology-Assisted
Micro-Mobilization and Reflex Stimulator (TAMARS). TAMARS has become the basis
of a carefully designed and novel therapeutic procedure that results in the
restoration of spinal mobility.

The New York City practice is the first commercial use of the device in the
United States. AST holds the exclusive license to the intellectual property and
commercial rights relating to TAMARS in the United States, Europe, Australia,
Japan, and all other countries of the World other than the United Kingdom and
the Republic of Ireland.

Advanced Spinal Technologies is also in the final stages of construction of its
Boca Raton Florida clinic, and anticipates opening in early February 2006.

Jeffrey R. Perelman, M.D., President of AST, Ltd, stated, "We are thrilled to
receive with the opening of the first Physical Therapy practice in New York to
use Advanced Spinal Mobilization. We look forward to the development of a
successful practice in New York and others throughout the United States."

Mr. Ross Mandell, Chairman of Sky Capital Holdings, Ltd, commented, "We
continue to make steady and good progress in executing the business plan for
Advanced Spinal. I would like to compliment Dr. Perelman and his team. I look
forward to early revenues for AST. I look forward to the opening of the South
Florida practice in early February 2006."

For further information:

Advanced Spinal Technologies

info@advancedspinaltech.com

Tel. 001 561 338 9700

Mr. Ross Mandell

Sky Capital Holdings Ltd.

Tel. 001 212 709 1900

Mr. Ben Simons

Hansard Communications

Tel. 0044 207 245 1100

Statements in this press release other than statements of historical fact,
including statements regarding the company's plans, beliefs, and estimates as
to projected market size are "forward-looking statements". Such statements are
subject to certain risks and uncertainties and actual results could differ
materially from expected results. These forward-looking statements represent
the company's judgment as of the date of this release. The company disclaims,
however, any intent or obligation to update these forward-looking statements.



END

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