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[QUOTE]Originally posted by outwest: [QB] Phoenix Rescinds Stock Buy Back Program By Market Wire Last Update: 8/11/2006 1:56:19 PM Data provided by NEW ORLEANS, LA, Aug 11, 2006 (MARKET WIRE via COMTEX) -- August 11, 2006 - Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced that effective August 15, 2006 it is rescinding a stock buy back program that was announced on June 19, 2006, a stock repurchase program under which the Company had offered to repurchase up to one hundred million shares of its common stock at a price of $0.03 per share. The Company indicated that it will honor the buy back of shares at $0.03 per share that are sent to the Company in certificate form via "Certified - Return Receipt Requested" mail that is "Post Marked" on or before August 15, 2006, as per the detailed instruction contained in the Phoenix news release of June 19th. Any certificates that might be received by the Company that are post marked after August 15, 2006 will be returned to the sender. The Company further indicated that it is now in the process of an open market buy back of its common stock, up to one hundred million shares when combined with the shares that may be repurchased under the above program that is being rescinded. 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. SOURCE: Phoenix Associates Land Syndicate [/QB][/QUOTE]
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