SOURCE: Phoenix Associates Land Syndicate

October 30, 2006 05:00 ET

Phoenix's Best Jets and Merex Inc. in International Teaming Agreement

Merex, Worldwide J-85 Distributor, in Teaming Agreement With Best Jets Engines to Be Its J-85 Engine Repair and Support Shop; About Forty International Militaries Are Users of Northrop T-38 Trainers and/or Northrop F-5 Fighter Jets With J-85 Series Engines

MADISONVILLE, LA -- (MARKET WIRE) -- October 30, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced a Teaming Agreement between Merex Inc, of Camarillo, CA, and Best Jets Engines, Inc., a subsidiary of Phoenix, with Best Jets to provide a full range of repair, refurbishment and support services for J-85 turbo jet engines that are in active use by about forty international military clients of Merex.

Under this agreement, Best Jets is to perform whatever J-85 turbo jet engine work that Merex's international military clients may require. Merex has been serving these international clients for more than twenty years.

By way of background, the Northrop F-5 series aircraft and the J-85 series engines are one of the most prolific trainers/fighters/engines ever manufactured in the United States. Today, 40 years after the first F-5 was manufactured, more than 1500 F-5/T-38 aircraft and over 5,000 J-85 engines are still operational in 40 countries. Upgrades to the airframes and engines are expected to keep the majority of these aircraft operational to the year 2020 and beyond.

About Merex, Inc.

Merex is a premier international logistics company providing support services to over 35 countries worldwide. Merex was established in 1982, is headquartered in Southern California and maintains marketing representations in South America, Europe, Middle/Far East, and Africa.

To better serve J-85 operators worldwide, and to provide complete, "factory new" spares and components for the J-85 series engines, GE Aircraft Engines has appointed Merex as their Authorized Distributor for all spares, components, upgrade kits, and Ground Support Equipment.

Merex's extensive experience and knowledge as a major exporter ensures prompt delivery of parts it contracts. The company works closely with the U.S. State Department (Munitions Control Reg. No. 0905-2630), the Commerce Department, and the Defense Security Assistance Agency to coordinate the needs of all its customers. Merex is approved by the DSSA to provide support services to countries utilizing FMS credit grants.

About Phoenix Associates Land Syndicate (PBLS)

Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests 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, visit

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