SOURCE: Phoenix International Ventures

September 11, 2008 20:23 ET

Phoenix Aerospace Inc. Receives a $2.4M Contract From the U.S. Air Force for the Design and Initial Production of New Generation Aircraft Engine Trailers; The Contract Could Reach $5.3M If Certain Options Are Exercised

Contract Is First Fruit of the Company's Study Project

Company Expects Large Follow On Production Orders

Company's Backlog Now Exceeds $6 Million

CARSON CITY, NV--(Marketwire - September 11, 2008) - Phoenix International Ventures, Inc. (OTCBB: PIVN) announced today that its wholly owned subsidiary, Phoenix Aerospace Inc., has received a $2,450,450 contract from the U.S. Air Force for the design and production of initial new generation engine trailers. The contract also has an option for additional deliveries which could result in additional revenues of approximately $2.9 million.

Commenting on the contract, Phoenix International Ventures, Inc.'s CEO, Mr. Zahir Teja, commented: "This new contract is a major breakthrough for us as it shows confidence in Phoenix Aerospace's ability to undertake a major weapon system support program from concept, design and production. I am sure that our successful results from engine trailer life extension study programs were a contributing factor in getting this contract award."

Mr. Teja continued: "We shall continue to focus on the ground support equipment both in re-manufacturing of existing end of life equipment and manufacturing new equipment from the results of other ongoing support equipment life extension studies programs for U.S. Armed Forces which we believe will result in follow on orders for millions of dollars."

About Phoenix International Ventures, Inc.

Phoenix International Ventures, Inc. of Carson City, Nevada, was established in order to acquire and develop business in the defense and aerospace market. The company has acquired 100% of Phoenix Aerospace Inc., which specializes in manufacturing, remanufacturing and upgrading of Ground Support Equipment (GSE) which is primarily used to support military aircraft.

Certain statements in this news release by Phoenix International Ventures, Inc. are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company's ability to fund ongoing operations and to complete its obligations under the government and/or customer contract and its other ongoing commitments. Future results and trends depend on a variety of factors, including the Company's successful execution of internal performance plans; product development and performance; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.

Contact Information