SOURCE: Phoenix Associates Land Syndicate

August 10, 2005 07:00 ET

Updated Buy Back Proposal

COVINGTON, LA -- (MARKET WIRE) -- August 10, 2005 -- Phoenix Associates Land Syndicate (Phoenix) (OTC: PBLS) is very pleased to announce that in its ongoing efforts to support Phoenix stock and supply the best value for shareholders, President Paul Alonzo has decided to increase the amount offered per share for the unlimited repurchase of PBLS common stock to $0.0041.

Phoenix hereby offers to purchase your shares based on the following:

   1. PBLS will pay $.0041 per share for your stock.
   2. Send your stock certificate via certified - return receipt requested
      mail to:
             P.O.Box 1358
             Covington, Louisiana  70434-1358
   3. With your certificate send a letter, in your own words, stating that
      you are selling the stock back to Phoenix for $0.0041 per share and
      that you request your payment on same within thirty (30) days.
   4. Sign the back of your certificate as the seller along with your
      letter.
   5. Phoenix will handle the ensuing paperwork and pay you for your stock
      within thirty (30) days of the receipt of your letter and your signed
      certificate.
Mr. Alonzo also would like to inform all shareholders that Phoenix does not announce any acquisition prior to conclusion of the deal but in this case PBLS will inform shareholders that Phoenix is in different stages of acquisition with:
   1. Pool Contractor - Indianapolis, Indiana
   2. Pool Contractor - Cincinnati, Ohio
   3. Pool, Spa, Leisure  Product Retail Supplier - Dayton & Cincinnati,
      Ohio
   4. Oil Company - Southeastern, U.S.
   5. Construction Company (Site preparation) - Southwest, Louisiana
Other acquisitions are being looked at but are not at the level of interest or progression as those previously listed.

For more information about Phoenix, go to the Company's website at: http://www.pbls.biz

Forward-Looking Statements

This press release contains statements that are "forward looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

Contact Information

  • For More Information Contact:

    Ron Blackburn
    Phoenix
    (985) 845-4627
    Email Contact

    Mike Mulshine
    Osprey Partners
    (732) 233-3853
    Email Contact