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[QUOTE]Originally posted by bond006: [QB] FOR IMMEDIATE RELEASE PHOENIX ANNOUNCES PLANS TO BECOME A FULLY REPORTING COMPANY June 16, 2005 - COVINGTON, LA - Phoenix Associates Land Syndicate (OTC: PBLS), a holding company with assets in sand & gravel, soil products, land development, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries, today announced its plan to become a fully reporting company, a necessary step as the Company prepares to move from the pink sheets to the OTC Bulletin Board (OTCBB). Mr. Alonzo, President and CEO of Phoenix Associates Land Syndicate announced that the Board of Directors made the decision to bring the Company into SEC compliance and to become a fully reporting company in accordance with the U.S. Securities Act of 1934 by mid-2006. To facilitate this achievement, Phoenix has engaged the services of Michael Raymond, Esq., with Dickinson Wright, PLLC, Counselors at Law of Ann Arbor, Michigan, as their SEC Attorney. Phoenix also announced that it has engaged the accounting services of Dennis Kowalski of Toledo, Ohio, thus assuring compliance with SEC and NASD regulations for a fully reporting traded company. In addition to Mr. Raymond and Mr. Kowalski, Ms. Patti Fischer, Phoenix's Regional Liaison located in Toledo, Ohio, will also be a member of the team that will bring Phoenix to fully reporting status with the SEC and NASD. As a reporting company, Phoenix will be required to file annual reports on Form 10-KSB, quarterly reports on Form 10-QSB, and reports or unusual events on Form 8K. In addition, the Company will be required to solicit proxies for its annual meetings in accordance to Section 14 of the Securities Exchange Act of 1934 and other reporting requirements will apply to management shareholdings. Investor Information: Phoenix, trading on the OTC Pinksheets (Symbol: PBLS) has about 2,600 shareholders of record. The Company has a total of 377,291,802 shares issued and outstanding as of June 10, 2005, of which 228,085,575 are restricted shares, and the remaining 149,206,227 shares are non-restricted shares and considered to be the public "float" shares. Based on the closing price of PBLS on June 10th the Company's Market Cap is about $5.3 million. 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: Paul Alonzo Phoenix (985) 845-4627 Phoenixassoc*pbls.biz or Mike Mulshine Osprey Partners (732) 233-3853 osprey57*optonline.net [/QB][/QUOTE]
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