Phoenix Associates Land Syndicate (fka PBLSQ)

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(COMTEX) B: Phoenix Announces Stock Buy Back Program ( Market Wire )
B: Phoenix Announces Stock Buy Back Program ( Market Wire )

COVINGTON, LA, Jun 19, 2006 (MARKET WIRE via COMTEX) --
Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today
announced modifications to its stock repurchase program that it
publicized back on April 26, 2006. Phoenix had previously announced a
continuation of the stock repurchase program for an unlimited number
of shares. Phoenix's Board of Directors has now clarified that the
stock repurchase program encompasses the following components: (i)
Phoenix shall repurchase up to one hundred million shares at a price
of $0.03 per share of common stock, and (ii) all repurchases shall be
effected in compliance with Rule 10b-18, promulgated under the
Securities Exchange Act of 1934.

Should you wish to participate in this stock repurchase program
please:
1. Send your stock certificate via "Certified - Return Receipt
Requested" mail to: Phoenix Associates Land Syndicate
P.O. Box 1358
Covington, Louisiana 70434-1358
2. With your certificate send a letter, in your own words, stating that
you are selling the stock back to Phoenix for $0.03 per share and that
you request your payment on same within thirty (30) days.
3. Sign the back of your certificate as the seller along with your letter.
4. 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.

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.
For More Information Contact:
Mike Mulshine
Osprey Partners
[phone]
[e-mail]

SOURCE: Phoenix Associates Land Syndicate
mailto:[e-mail]
Copyright 2006 Market Wire, All rights reserved.
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