Phoenix Associates Land Syndicate (fka PBLSQ)

[Goodfill]

(COMTEX) B: Phoenix Associates to Greatly Increase Production at Murphy Sa
d and Gravel ( Market Wire )
B: Phoenix Associates to Greatly Increase Production at Murphy Sand and Gravel (
Market Wire )

NEW ORLEANS, LA, Aug 17, 2006 (MARKET WIRE via COMTEX) --
Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today
announced that its Murphy Sand & Gravel (MS&G) mining operations are
being significantly expanded through the addition of new mining
equipment at its Pearl River, LA site that will greatly increase
production.

Paul Alonzo, President and CEO of Phoenix, stated, "I am happy to
announce that a vast amount of new mining equipment is being currently
moved to the MS&G mine site. Thanks to the huge demand in the
Greater Gulf region for all the products produced by MS&G, Phoenix
feels the time is right to greatly expand the mining activities in
Pearl River, Louisiana."

The following equipment is being added to the MS&G mining operation
immediately:

Equipment:

Caterpillar 950F Front End Loader

Aztec S-5 Portable Screening Plant

Caterpillar 330 Excavator

John Deere 650 Dozer

Caterpillar 966G Front End Loader

Excel -- Radial Stackers -- 4 Units

NADDA Computer System

Power-Screen Stationary Screening Plant

ALCO 10 X 8 Fully Equipped Dredge

Pit Hog 8 X 6 Dredge

Cutterhead 14 X 12 Dredge (350% capacity vs a 10 X 8 dredge)

The first of this new mining equipment arrived over this past
weekend, while the full complement of new mining equipment, valued in
excess of $4.3 million, will continue to be delivered over the next
2-3 weeks. Financing for this equipment is being provided by
Superior Concrete Crushing, L.L.C. of which Arnold Roge is President.

Once all the new equipment is in place the rate of production of the
MS&G mining operations is expected to rise quickly with anticipated
depletion of the mine to now be over the next six to eight years,
rather than the original projected depletion of about thirty five
years. Projected profits from its mining operations are likely to
come in around 10-15 percent of gross revenues.

Mr. Alonzo stated, "I had not expected to see MS&G production to grow
to these levels during my tenure as CEO of Phoenix, but circumstances
have persuaded our board at Phoenix to move quickly to grow this
division because of the huge demand for our products. We feel
confident that the large investment being made in our mining
operations will pay great rewards to Phoenix and our loyal
shareholders."

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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