SOURCE: Phoenix Associates Land Syndicate

February 20, 2007 05:00 ET

Phoenix Signs $20 Million Sand & Gravel Contract

Contract With Cherokee Environmental Construction, Inc. for Aggregate and Sand From Its Murphy Sand & Gravel Site in Pearl River

MADISONVILLE, LA -- (MARKET WIRE) -- February 20, 2007 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced a contract signed with Cherokee Environmental Construction, Inc. for up to $20 million in aggregate and sand to be mined at the Murphy Sand & Gravel (MS&G) mine site in Pearl River, LA, and to be delivered to Cherokee in increasing quantities over the next twelve months.

Paul Alonzo, President and CEO of Phoenix, commented, "Back in October we announced that we were moving forward to greatly increase the production capacity of its MS&G mining site. With that expansion underway we are well equipped to handle the increasing volume requirements of our new contract with Cherokee."

Mr. Alonzo continued, "We plan to continue to move a vast amount of new mining equipment to the MS&G mine site over the next few quarters so we will be prepared to meet the growing demand from Cherokee and other potentially larger contractors in the Greater Gulf region for products that come out of our Pearl River mining operation. Based on our latest expectations for MS&G, we anticipate full depletion of the mine to likely occur in five to seven years."

About Phoenix Associates Land Syndicate (PBLS)

Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in 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

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