SOURCE: Phoenix International Ventures

Phoenix International Ventures

August 12, 2009 12:01 ET

Phoenix International Ventures, Inc. Generates Record Six Months Revenue of Approximately $1.6M -- 69% Growth Over First Half of 2008

The Company Is Executing a Major Design and Production Order for USAF; Current Backlog Exceeds $7M

CARSON CITY, NV--(Marketwire - August 12, 2009) - Phoenix International Ventures, Inc. (OTCBB: PIVN) ("Phoenix" or "the Company"), an Aerospace Defense company, announced financial results for the three and six months ended June 30, 2009.

Mr. Zahir Teja, President and CEO of Phoenix, stated: "The US Air Force Contract of $2.4 Million ($5.3M when you include all the options for additional units) for the design and manufacturing of new generation Aircraft Engine Trailers, positions us as a significant supplier in the solid ground support equipment market. We believe that these achievements will ultimately lead to millions of dollars in additional orders."

Mr. Teja added: "We've continued our revenue growth this quarter, our six months sales reached $1,578,375 which is 69% more than the same period in 2008. Our backlog at June 2009 exceeds $7 Million."

For the six months ended June 30, 2009, revenues increased 69% to $1,578,375, as compared to $932,706 for the same period in 2008. Net loss amounted to $210,416 for the six months ended June 30, 2009, as compared to a net income of $487,503 for the same period in 2008; however, the 2008 income was primarily due to a non-recurring recovery of a contingency in the amount of $566,154. For the three months ended June 30, 2009, revenues increased by 40% to $646,533 as compared to $461,540 in the three months ended June 30, 2008. Net loss amounted to $151,198 for the three months ended June 30, 2009, compared to a net loss of $71,469, in the same period for 2008.

Commenting on the financial results, Zahir Teja stated: "We've made significant headway in marketing efforts which has helped to drive revenues in the first half of 2009. Our pace of growth and backlog, coupled with the groundwork we have laid for future orders, positions us for continued improvement in our financial results."

About Phoenix International Ventures, Inc.

Phoenix International Ventures, Inc. of Carson City, Nevada, was established in order to acquire and develop business in the defense and aerospace market. In January 2007, the company acquired 100% of Phoenix Aerospace Inc., which specializes in Design, Engineering, Manufacturing, Re-manufacturing and upgrading of Ground Support Equipment (GSE) which is primarily used to support military aircraft.

Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company's ability to fund ongoing operations and to complete its obligations under the government and/or customer contract and its other ongoing commitments. Future results and trends depend on a variety of factors, including the Company's successful execution of internal performance plans; product development and performance; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.

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