SOURCE: Phoenix Associates Land Syndicate

July 11, 2007 06:30 ET

Phoenix Acquires Jet Aviation Services, Inc.

MADISONVILLE, LA--(Marketwire - July 11, 2007) - Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced the acquisition of Jet Aviation Services, Inc. (J.A.S.), another addition to the rapidly expanding Phoenix Aviation Group.

Paul Alonzo, President and CEO of Phoenix, commented, "J.A.S. is a small but strongly profitable company located at Bob Hope Airport in Burbank, California. J.A.S. carries an unlimited airframe license which is extremely difficult to get in the best of times and currently has back logs of years to get such a certificate."

In addition to the unique services offered by J.A.S., it is also strategically located so as to maximize the coverage Phoenix can give to its aircraft customers. We now can provide service to our jet aircraft customers on the East and South Coasts, Middle America (Denison Texas and Dallas Love Field in Texas) and now West Coast with J.A.S.

Just as an interesting side note, J.A.S. is located in Hangar #2 on the Bob Hope Airport in Burbank, California. This Hangar was the home to the Lockheed Electra flown by Amelia Earhart. Our acquisition comes complete with a picture of Amelia by her Lockheed Electra in Hangar #2 that now hangs in our office in Burbank.

Mr. Alonzo commented further, "We acquired 80% ownership of J.A.S. in a cash transaction, and we are very pleased to announce that the current operating partner, Dave Heredia, has agreed to stay with Phoenix in the position of President and Chief Operating Officer of J.A.S., Inc."

J.A.S. was projecting revenues for 2007 of about $1.5 million prior to the acquisition by Phoenix, with profit margins in the 15%-25% range. Further details will be released when approved by seller.

Phoenix wishes to welcome Dave Heredia and his staff to the ever growing Phoenix Aviation Group and all other Phoenix Companies.

About Phoenix Associates Land Syndicate

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

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