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Phoenix Associates Acquires Able Building Company, Inc.

Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced today that it has completed the acquisition of Able Building Company, Inc., a State licensed General Contractor specializing in Residential and Commercial Construction in Southern Louisiana.

Able Building Company has completed more than 200 commercial and residential building projects across Southern Louisiana over the past 16 years.

Jeff Montalbano, the President of Able Building Company, Inc., has been in the construction industry for over 30 years and is excited with this merger. This merger will give both Phoenix and Able Building Company huge opportunities in the residential and commercial regional markets.

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

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.