SOURCE: Phoenix Associates Land Syndicate

November 14, 2007 06:30 ET

Phoenix Associates Terminates the Voting Preferred Stock Participation Program

Effective November 15, 2007 at 5:00 PM-CST, the Company Is Terminating Its Earlier Offer to Convert Common Stock Into Voting Preferred Stock

MADISONVILLE, LA--(Marketwire - November 14, 2007) - Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced that effective November 15, 2007 at 5:00 PM-Central Standard Time, the Company is terminating the "Voting Preferred Stock Participation Program" that was originally announced on February 15, 2007.

The Company indicated that any shares that might be received by the Company following the termination of the program will be returned to the sender on a timely basis.

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.

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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