SOURCE: Phoenix Associates Land Syndicate

July 26, 2005 07:00 ET

Phoenix Associates' Ann Arbor Pool Builders Div. Takes on Commercial Pool Projects to Accelerate Growth

COVINGTON, LA -- (MARKET WIRE) -- July 26, 2005 -- Phoenix Associates Land Syndicate (Phoenix) (OTC: PBLS) announced today that its division, the Ann Arbor Pool Builders, Inc. of Ann Arbor, Michigan, is implementing a determined program to increase their commercial pool business. As an early result of this growth strategy, a pool is being built for a nationally recognized hotel chain in Western Michigan and a pool is under contract to be built for another national motel chain in Mid-Ohio. The value of these two commercial pools and other similar commercial projects are expected to accelerate the revenue growth of this business unit this year and beyond.

The Ann Arbor Pool Builders division reported (unaudited) revenues for the six months ended June 30, 2005 of $864,000, an increase of 17% over the $735,000 for the same period a year earlier. This division of Phoenix also reported that its profits for the first six months of 2005 increased by 108% when compared to the same period a year earlier.

Based on 3rd and 4th quarter sales last year, Phoenix expects Ann Arbor Pool Builders to achieve sales in excess of $2,000,000 for 2005.

Additionally, Ann Arbor Pool Builders, Inc. is bidding on several other commercial projects for hotels in Western Michigan and the Detroit metro area. We believe that by adding the commercial pool division to Ann Arbor Pool Builders, Phoenix expects this division to double its revenues over 2004 within the next two years.

Paul Alonzo, CEO of Phoenix, stated, "We are confident that the addition of the commercial pool division to the Ann Arbor Pools business unit, will enable this business to strongly accelerate its potential growth over levels historically available in the residential sector of the pool market. We as a company are fully committed to becoming a substantive player in each of our markets of activity. It remains our plan to grow organically and through acquisition of businesses that we believe will fit into our corporate culture, that bring with them an existing management team that holds a vision for growth that is consistent with our own."

For more information about Phoenix, go to the Company's website at: http://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:

    Paul Alonzo
    Phoenix
    (985) 845-4627
    Email Contact

    Mike Mulshine
    Osprey Partners
    (732) 233-3853
    Email Contact