SOURCE: Phoenix Associates Land Syndicate

February 13, 2007 05:00 ET

Phoenix Acquires Equity Position in Leisure Direct, Inc.

Phoenix Becomes Schedule 13-D Filer of Leisure Direct, With Holdings of 11.9% of LDTI's Outstanding Shares

MADISONVILLE, LA -- (MARKET WIRE) -- February 13, 2007 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) and Leisure Direct, Inc. (OTCBB: LDTI) announced today that Phoenix has purchased an 11.9% interest in Leisure Direct and will be shortly filing a Schedule 13-D relating to the 1,464,300 shares recently purchased at $0.09 per share.

Leisure Direct, Inc. is an emerging company in the Pool, Spa, and Backyard Recreation Industry. Its Chairman and CEO, John R. Ayling, stated, "We are indeed pleased to have Phoenix Associates as an investor in our company."

Mr. Ayling commented further, "Our goal is to consolidate a fragmented market. We intend to implement a multi-faceted and direct approach to sales and marketing that will enable LDTI to provide consumers with a wide range of products and services for pools, spas, and related patio products in a $12 billion segment of the $30 billion pool and spa industry. With Phoenix as an investor, with its three pool related business units and a strong knowledge of the pool and spa industry, we look to the potential of a growing synergistic relationship between our companies."

Mr. Alonzo, President and CEO of Phoenix, stated, "We have made this investment in Leisure Direct with an eye to the future. We appreciate the size and complexity of the pool and spa industry, and we believe that John Ayling and his team have identified a strong market of opportunity. Through our investment, we look to benefit from the growth of his company."

About Leisure Direct, Inc.

Leisure Direct, Inc., headquartered in Perrysburg, Ohio, is a unique and innovative company in the Pool, Spa, and Backyard Recreation Industry. Founded in December 1999, its mission is to become the premier, highest quality and most nationally recognized manufacturer and direct marketer of pool, spa/hot tub, and patio products in the United States. LDTI intends to implement its strategy by acquiring existing manufacturers of backyard entertainment products and building a direct marketing distribution network. For more information, visit http://www.leisuredirectinc.com

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 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.

Contact Information

  • For More Information Contact:
    John R. Ayling
    Leisure Direct, Inc.
    (419) 873-1111

    Mike Mulshine
    Osprey Partners
    (732) 292-0982
    osprey57@optonline.net