SOURCE: Phoenix Associates Land Syndicate

February 22, 2007 07:00 ET

Phoenix Announces Program for the Financing and Construction of Affordable Housing

There Exists Today Throughout All Regions of the United States and Many Underdeveloped or Third World Countries an Urgently Pressing Need for Affordable Housing for Middle and Lower Income Families and Also Affordable Housing for Military Personnel in the Underdeveloped or Third World Countries

MADISONVILLE, LA -- (MARKET WIRE) -- February 22, 2007 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced an extensive program to finance and construct affordable housing. The Company is addressing this need by commencing to build affordable homes for families located in urban areas, small rural and suburban towns, villages and communities worldwide. These homes will be built singularly or in clusters as the local situation dictates.

The Affordable Houses

The Phoenix affordable homes are of steel construction, pre-fabricated and have approximately 1,200 square feet of living space. This square footage can easily be adjusted upward or downward depending on the need in the area the homes are to be built. Construction costs are dramatically lower than any other type of construction of equal quality. There are several basic models to choose from which are already erected at several sites in the United States.

These affordable homes are hurricane resistant and are currently rated at 150 mph wind load. Additionally, where needed, a heavy duty version of this home is available at a slightly higher cost that has a wind load rating of 250 mph. Also, these units are fire resistant and termite proof, will not shrink, split, warp, swell, rot or corrode, are lightweight and precision engineered with complete design flexibility, have a lower cost than other types of construction and have no weaknesses such as wood with knots which can lead to sudden unexpected failure.

Phoenix will provide faster delivery times and the home are fully guaranteed and copyright protected. Since they are constructed of steel and rust proofed, they will last indefinitely. An additional bonus of these homes is that they are extremely energy efficient. Insulation values in the walls are R-32 and in the ceiling and roof are R-55 rated. Depending on location of the home, this will offer a 30-45% energy reduction on the heating and cooling of the home.

Financing

Mortgage financing will be handled by local banks in the U.S. or governmental agencies abroad. The initial land acquisition and construction financing will be handled by Phoenix. Phoenix has identified and believes that there exists a special demographic of potential investors for this acquisition and construction financing phase. These investors are high net worth individuals such as professional athletes, film and television personalities and other celebrities with high amounts of discretionary income.

All publicity regarding their investment will go to the celebrity. Celebrities have their own public relations people who, we believe, will see an investment by their clients in this affordable housing program as a public benefit. This is a powerful incentive for celebrity investment.

Phoenix is confident that celebrities and/or their financial advisors will view this investment as an excellent opportunity to achieve a far greater than market return on capital.

The vehicle for the construction and sale of these affordable homes is a wholly owned subsidiary of Phoenix.

The First Affordable Homes Project

Phoenix has presented its affordable housing program to the City of Laurel, Mississippi. Phoenix's proposal was met with great enthusiasm by Mayor Melvin Mack and The City of Laurel has a waiting list of more than 600 applicants who fit the profile as purchasers of a Phoenix affordable home.

The Mayor and other city officials have expressed a desire to work with Phoenix in constructing these 600 affordable homes so that their citizens can "participate in the AMERICAN DREAM of home ownership."

Phoenix is working with The City of Laurel to set up liaison with the various city departments to inspect available housing sites and begin construction.

In addition, Phoenix has discussed its affordable homes proposal with several agents of sports and entertainment celebrities. These agents believe this will be beneficial to their celebrity clients with regard to not only publicity, but also financially.

Please direct any inquiries regarding the Phoenix Associates Land Syndicate affordable homes project to Doc Starling 404-983-2070 or Ron Bruce 601-255-4298.

About Phoenix Associates Land Syndicate (PINKSHEETS: PBLS)

Phoenix Associates Land Syndicate (PINKSHEETS: 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.

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