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Phoenix Announces Increase in KOMEX Contract

KOMEX Export-Import Contracts Increased From 30 Million Metric Tons of Blended Aggregate Products to 150 Million Metric Tons Over Five Years

Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced that its current total capacity to produce blended aggregate products has been purchased by KOMEX Export-Import.

Paul Alonzo, President and CEO of Phoenix, stated, "Phoenix currently has the ability to increase its production capacity to 2.5 million metric tons per month of blended aggregate products. After our last news release this past Friday on the 30 million metric ton order over five years, Mike O'Riley and Vince Promuto have agreed to honor KOMEX's request to purchase our entire production for five years, with a five year extension if desired."

Mr. Alonzo added, "This additional contract from KOMEX brings our committed orders to 150 million metric tons over five years or 2.5 million metric tons per month for 60 months. The total value of this five-year agreement as structured is $6.6 billion or $110 million per month."

The Company indicated that production will be ramped up during the balance of 2007 with full production by January 2008. Additional equipment is being purchased for crushing, excavating, and blending the blended aggregate products so as to meet production schedules.

Phoenix will be releasing equipment purchases, other acquisitions currently underway to increase current capacity, and also required transportation acquisitions to properly move the massive amounts of product to ports for export.

Phoenix will continue to keep its valued shareholders informed as further information comes available.

About Phoenix Associates

Phoenix Associates Land Syndicate is a holding company with assets in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction-related industries.

Forward-Looking Statements

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