SOURCE: Phoenix International Ventures

Phoenix International Ventures

April 13, 2011 11:53 ET

Phoenix International Ventures, Inc. Reports Delay in Filing Its Annual Report

CARSON CITY, NV--(Marketwire - Apr 13, 2011) - Phoenix International Ventures, Inc. (OTCBB: PIVN) ("Phoenix" or "the Company"), an Aerospace Defense company, announced today that the Company does not expect to be able to file its Annual Report on Form 10-K for its fiscal year ended December 31, 2010 by April 15, 2011, but expects that it will be able to complete its audited financial statements for 2010 and file its Form 10-K on or before May 15, 2011, although there is no assurance that it will be able to do so.

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 Statements

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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