SOURCE: Phoenix Interests, Inc.

March 04, 2009 09:42 ET

Phoenix Interests, Inc. Launches Roll-Up Strategy to Build Mobile Computing Solution and Announces Letter of Intent to Acquire Mobility Network Security Company

LUDLOW, KY--(Marketwire - March 4, 2009) - Phoenix Interests, Inc. (OTCBB: PXIT) today announced a non-binding letter of intent (LOI) to acquire Stonewall Networks. Stonewall Networks has developed a proprietary software solution for mobile network security, including an innovative security policy management product for enterprise customers. The Stonewall Networks acquisition is part of a larger Phoenix Interests strategy to create a comprehensive and global mobile computing technology business. Products from Stonewall Networks would provide a security backbone for this mobile solutions strategy.

The Mobile Computing Industry Opportunity

The mobile computing Industry includes mobile application and security software used on devices such as handheld computers, PDAs, smartphones and cell phones. The mobile computing solution offerings at Phoenix Interests are planned to include both infrastructure solutions and applications for provisioning and managing users accessing networked mobile solutions. The Phoenix Interests mobile solution set is also planned to include a number of various industry specific mobile applications, such as online banking.

Mobile Computing Solutions Worldwide

The demand for mobile software applications is being driven in large part by the growing penetration of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. According to IDC, the worldwide mobile phone market reached a new milestone at the close of 2006 with more than one billion units shipped worldwide over the year.

Phoenix Interests, Inc.

The current mobile computing solution is a new business strategy for Phoenix. The strategy has been developed over the last year, and Stonewall is the first of several planned acquisitions in a roll-up strategy to rapidly establish a portfolio of mobile computing solutions. The Company anticipates a number of coming announcements regarding a name change, management changes, an expanded explanation of the new business strategy and additional acquisitions.

Stonewall Networks

Stonewall Networks is an information technology security product provider. The Company has developed the Cornerstone Security Policy Manager that strengthens, centralizes, and greatly simplifies enterprise network security. With Cornerstone, corporate security policies are consistently implemented to seamlessly secure the entire network. Cornerstone will provide security for handheld computers, PDAs, smartphones, cell phones and core network security devices.

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"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Phoenix Interests' actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

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