PHIGroup Announces 2009 Annual General Meeting

FRANKFURT, GERMANY and LOS ANGELES, CA--(Marketwire - December 7, 2009) - PHIGroup, Inc. (OTCBB: PHIE) (FRANKFURT: PR7) (WKN A0RNQV), a company engaged in the development and management of real estate properties, mining interests, and consulting, merger and acquisition advisory services, today announced that the Company's annual general meeting for the year 2009 will be held 02:00 P.M., Pacific Standard Time, Friday, January 29, 2010, at 17011 Beach Blvd., Suite 1230, Huntington Beach, CA 92647. The record date for the 2009 annual general meeting will be December 11, 2009.

The purposes of the annual meeting will include: (1) reviewing the activities of the corporation for the preceding year, (2) electing one new member of the Board of Directors, and (3) transacting such other business that may properly come before the meeting.

The Company will file the proxy statement for the annual meeting with the Securities and Exchange Commission and make it available on the Company's web site by December 11, 2009.

Henry Fahman, Chairman and CEO of PHIGroup, Inc., commented: "We look forward to the annual general meeting. This will be a great opportunity to share not only our accomplishments for the past fiscal year but also our immediate and long-term plans for the Company, which we believe will continue to create significant value for our shareholders."

About PHIGroup, Inc.

PHIGroup develops real estate and natural resources, provides M&A advisory and consulting services and invests in special situations. Our company, which enables other companies to go public and raise capital, is developing Philand Ranch, one of the largest master planned communities in Vietnam. This project will include Pointe91, and will be a luxury resort and premium residential community in Quang Nam province, central Vietnam (PHILand Ranch Ltd., (FRANKFURT: 1P8) (WKN A0RPEA), www.philandranch.com). We also engage in mining in Southeast Asia and Haiti (PHIMining Group, Inc., Other OTC: PHIG, www.phimining.com). Main URL: www.phiglobal.com.

Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Contact Information: Contact: Henry Fahman Tel: 714-843-5455 Email: