SOURCE: Philand Ranch Ltd.

March 01, 2010 07:23 ET

Philand Ranch Secures New Central Vietnam Development Rights

FRANKFURT, GERMANY and LOS ANGELES, CA--(Marketwire - March 1, 2010) - Philand Ranch Ltd. (FRANKFURT: 1P8) (XETRA: 1P8) (WKN A0RPEA), a company engaged in the development of master planned communities and other real estate developments in Vietnam and Southeast Asia, announced today that it has secured development rights to a significant 600 hectare township site in South Hoi An, Quang Nam Province, Central Vietnam.

The site will be the location for an anticipated internationally branded entertainment theme park and retail commercial venture close to Philand's five star Pointe91 resort and housing development project.

Philand Ranch Ltd is a majority-owned subsidiary of PHIGroup, Inc. (OTCBB: PHIE) (FRANKFURT: PR7) (WKN A0RNQV) whose business scope includes the development and management of real estate properties, mining interests and consulting, merger and acquisition advisory services.

The 600-hectare track will anchor Philand's Pointe91 master plan development to the north. The well-positioned and picturesque site sits between the South China Sea and the Truong Giang River of Central Vietnam. The township will be accessed by the province's newest coast highway under construction which will connect South Hoi An to Philand Ranch in Chu Lai.

The Philand Ranch development will eventually encompass 10,000 acres in coastal Quang Nam Province. The company's first phase construction is expected to begin shortly. This 118-acre first phase introduces a hot new five-star resort, executive housing, mid-range cabana residences, a marina and unfettered access to hiking and walking trails, beaches and the South China Sea. It also includes an economic free zone, industrial parks and educational and conference facilities.

The Pointe91 development is based on the concept of whole community planning: creating places where people can live work and play in safety and comfort, building family ties, recreating together with family and friends near the water, enjoying a short commute to work and expecting the very best in home construction and land planning. This new community brings exceptional opportunities for residents, tourists and guests to enjoy a new standard of living in Quang Nam Province. The development is expected to generate thousands of new jobs, new industrial and commercial ventures, much needed housing and new economic opportunities for decades to come.

Henry Fahman, Chairman of Philand Ranch, said, "We are pleased to have secured this important area for the branded theme park and township as it dovetails perfectly with our Philand Ranch project."

Philand Ranch's Project Director Daniel St. John said, "The timing in securing this township could not have been better as we will soon begin construction of our much awaited Pointe91 project."

About Philand Ranch Ltd.

Philand Ranch Limited, a United Kingdom corporation, is engaged in the development of real estate, hospitality and master-planned community properties in Vietnam and the growing economies of Southeast Asia. The company is currently developing the first phase of a multi-billion dollar project at Pointe91 in Bien Rang, Chu Lai, Quang Nam Province, Central Vietnam through its wholly owned Vietnam-based subsidiary Philand Vietnam Ltd. Philand Ranch's stock is traded on the Frankfurt Stock Exchange: 1P8.F and Xetra: 1P8.DE, WKN A0RPEA. Website: www.philandranch.com.

About PHIGroup, Inc.

PHIGroup (OTCBB: PHIE) develops real estate and natural resources, provides M&A advisory and consulting services and invests in special situations. PHIGroup, which specializes in raising capital and helping take companies public, is developing Philand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.philandranch.com). PHIGroup is also engaged in mining activities in Southeast Asia and Haiti (PHIMining Group, Inc.) (PINKSHEETS: PHIG) (www.phimining.com). Website: 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.

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