Phoenix Associates Land Syndicate (fka PBLSQ)

[twlitz]

For those of you who have written me privately to ask just what my target is. I dont mind telling anyone, my friends and I who have invested in pbls have a target price of 1.27. I caution those who have asked however, that this price target is based purely upon our research and reflects our speculation as to possible valuation at the time of purchase and nothing else. It should be noted that I have held this stock for over two years. Our purchase was based on the quarry and its reserves and did not reflect the post Katrina reconstruction. Pbls also purchased several large plumbing outfits in our area. We all continue to hold. When I first bought in I had a time range of three to five years, so far, and this is only my opinion, Pbls is ahead of where I anticipated it would be at this time, unfortunately the pps does not reflect the true value of the assets of the company at this time. I feel sure that this will change in the coming months. Once again, I stress that all of this is purely IMHO