SOURCE: Phoenix Associates Land Syndicate

October 31, 2007 06:00 ET

Phoenix Releases Message to Shareholders

MADISONVILLE, LA--(Marketwire - October 31, 2007) - Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS), with the approval of Paul Alonzo, CEO and President of Phoenix, releases the following letter to shareholders prepared by Johnny Zornes, Assistant to the President.

To Phoenix Shareholders:

I am writing to you, as promised, to update you on the progress of restructuring our company. I had informed you in an earlier release that interference from outside sources had hindered some of our new projects.

Phoenix is moving ahead now and has focused itself on maintaining our stronger assets and removing unnecessary expenditures from other areas.

We are currently working in our construction and oil and gas businesses to help promote a larger volume of profits. We will soon be adding new businesses and personnel to help in these markets.

The building market in Louisiana and the surrounding Gulf Coast areas brings great promise for a strong future and we are aggressively growing this area of Phoenix.

Thanks again,

Johnny Zornes

Assistant to the President

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. For more information go to: www.pbls.biz

Forward-Looking Statements

This press release contains statements that are "forward looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

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