SOURCE: Phoenix Associates Land Syndicate

May 04, 2006 09:30 ET

Ron Blackburn Elected to Board of Phoenix Associates

Brings More Than Thirty Years of Strategic Acquisition and Business Development Experience to the Company

MADISONVILLE, LA -- (MARKET WIRE) -- May 4, 2006 -- Phoenix Associates Land Syndicate (OTC: PBLS), a holding company with 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, announced today that, effective May 15th, Ronald L. Blackburn has been elected to its Board of Directors.

Mr. Blackburn, 59, joined Phoenix in January of 2005 as Director of Acquisitions/Business Development. Prior to joining the Company, he built a diversified career. His early business experience included nine years with General Motors, with five years at the Buick Motor Company as a Foundry Trouble Shooter, to be followed with four years at the New Chevrolet Nodular Foundry.

After leaving General Motors in 1975, Mr. Blackburn began his career of dealing with troubled companies starting with a pattern shop in Saginaw, Michigan and later purchasing a machine shop in Northwest, Ohio. Over the last twenty-four years, Mr. Blackburn has purchased many troubled companies which have included machine shops, woodworking companies, software design, air charter/air freight, construction window manufacturing, custom coating (paint) and anodizing plants.

Paul Alonzo, President and CEO of Phoenix, said, "We are clearly pleased with the strong impact that Ron Blackburn has had on the growth of Phoenix since he joined our team last year. His skills in the evaluation of potential acquisition candidates, and his ability to structure and close transactions that work for all parties are the best I've seen."

Mr. Alonzo commented further, "We are very pleased to have Ron join Phoenix's Board of Directors. His broad experience in acquisitions and business development will serve the Company well as it considers its strategic alternatives for future growth, and anticipates the needs of our diverse business holdings."

Mr. Blackburn commented, "I am very excited to be associated with a company that is so focused on rapid growth in the mining, construction, and especially the oil & gas sector. I look forward to this opportunity to contribute at the Board level and as a part of the management team as we plan for and manage the future growth of Phoenix."

About Phoenix Associates Land Syndicate (PBLS)

Phoenix Associates Land Syndicate (PBLS) is a public holding company, with over 5,700 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 www.pbls.biz

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Phoenix Associates, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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