SOURCE: Phoenix Associates Land Syndicate

September 25, 2007 09:40 ET

Phoenix Associates Acquires Able Building Company, Inc.

MADISONVILLE, LA--(Marketwire - September 25, 2007) - Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced today that it has completed the acquisition of Able Building Company, Inc., a State licensed General Contractor specializing in Residential and Commercial Construction in Southern Louisiana.

Able Building Company has completed more than 200 commercial and residential building projects across Southern Louisiana over the past 16 years.

Jeff Montalbano, the President of Able Building Company, Inc., has been in the construction industry for over 30 years and is excited with this merger. This merger will give both Phoenix and Able Building Company huge opportunities in the residential and commercial regional markets.

About Phoenix Associates

Phoenix Associates Land Syndicate is a holding company with assets in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries.

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