SOURCE: Phoenix Associates Land Syndicate

September 18, 2007 09:45 ET

Phoenix Associates Announces the Sale of Best AeroNet

MADISONVILLE, LA--(Marketwire - September 18, 2007) - Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced today the sale of its premiere business fuel network provider, Best AeroNet, Inc., to the executive management team of Best AeroNet, Ginger Meeks-Villeneuve and Brenda Miears-Norwood, in a deal exceeding $4 million dollars.

In May of this year, Ginger Meeks-Villeneuve was appointed by Phoenix as President of Best AeroNet, along with Brenda Miears-Norwood as Executive Vice President. The aviation knowledge, experience, and stellar reputation of both Ginger and Brenda have certainly made their acquisition of Best AeroNet a natural transition for the growth of the company.

Moving forward with the company, Ginger Meeks-Villeneuve assumes the position of Chairman of the Board and Chief Executive Officer, while Brenda Miears-Norwood has been appointed President and Chief Operating Officer.

Paul Alonzo, President and CEO of Phoenix, stated, "Simply put, we are encouraged by the vibrant enthusiasm to take Best AeroNet to the next level. The mutually beneficial agreement frees up capital for us to focus on our core businesses, while enjoying the rewards of their efforts."

Ms. Villeneuve added, "Brenda and I are enthusiastic and very excited about this acquisition. This acquisition will allow us the opportunity to grow the business in a manner that will achieve extraordinary results. It will also allow us to sharpen our operations, while addressing the rapid daily occurrences and changes that are so typical to the business aviation segment. We are excited to get to do what we do Best... that is, selling jet fuel and servicing corporate clients with diligence and integrity."

Currently, Best AeroNet, Inc., a jet fuel supplier with nearly 5,000 Best AeroNet Cardholders, provides fuel for its clients at more than 1,500 locations worldwide and is in a growth and expansion period even in the face of tremendous competition and other challenges. Neither Phoenix nor Best AeroNet was open to disclose any details of this acquisition.

About Best AeroNet

Best AeroNet, headquartered in Houston, Texas, was a spin-off of Best Wholesale that started in the early 1980s as a distributor of aviation fuels then specialized to resell jet fuel to corporate clients in the late 1980s. The availability of fuel at international locations, a trip support services division, new and improved client and FBO programs has poised Best to be luminary in business aviation. Today the company is the leader in Business Aviation contract fuel and related services with a network of over 4000 affiliates worldwide. For more information, visit www.bestaero.com

About Phoenix Associates

Phoenix Associates Land Syndicate is a holding company with assets 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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