CWRUObserver.com -Financial News and Headlines - NYSE, Nasdaq, OTC's

[wildbill]

PHBR B: PhoneBrasil Finalizes Agreement to Acquire Office Building in
adrid, Spain ( BusinessWire )
B: PhoneBrasil Finalizes Agreement to Acquire Office Building in Madrid, Spain (
BusinessWire )

MIAMI, Oct 04, 2007 (BUSINESS WIRE) --
PhoneBrasil International, Inc. (Pink Sheets:PHBR) announced today
that it has reached an agreement to acquire a 1,200 m2 (about 13,000
sq ft) office complex in Madrid, Spain. This agreement is for the
entire 3rd floor of the 25 story office building along with 7 parking
markets and one retail store on the first floor. The retail office
will be for PHBR and its Hybrid VOIP, cellular, Broadband and WIFI
Technology. The current valuation of this property is 8.120.000 Euros
= $11.368.000 USD (see details below). Details of the transaction were
not available at this time.
Offices: 1.200 m/2 =7.5 MM EUROS
Parking: 7x60.000 = 420,000 EUROS
First Floor Store Front = 200,000 EUROS
----------------------------------------------------------------------
Total Valuation 8,120,000 EUROS
New Headquarter Office of PhoneBrasil:
Plaza Ciudad de Viena, 6, 3(a) planta
Municipio de Madrid
28040

To view the New Headquarter Office and Building in Madrid, Spain
click below

http://00ec925.netsolhost.com/PlazaViena3.pdf

The Company plans to occupy the 3th floor of the office complex
establishing it as its headquarters for Spain. The building also has
as a tenant Telindus-Belgian Com. The office complex is next to one of
the greater installations of Telefonica SA (NYSE:TEF) which is the
headquarters of their Department of Engineering and Systems.

"We now have physical facilities in Miami, Florida; Brazil and
Madrid, Spain," stated Anderson Diaz, President of PhoneBrasil. "We
now have the facilities to fully implement our immediate business
plan, which shows us to be a serious international telecommunications
company."

PhoneBrasil International, Inc. is an American-based company
specializing in Hybrid VOIP, cellular, Broadband and WIFI Technology
in the Latin American market as well as servicing the International
Telecommunication Markets. PhoneBrasil was recently awarded with a
governmental contract for telecommunications service within the
territory of the Country of Columbia.

"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995:

This release includes forward-looking statements intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements generally can be identified by phrases such as PHBR or its
management "believes," "expects," "anticipates," "foresees,"
"forecasts," "estimates" or other words or phrases of similar import.
Similarly, statements in this release that describe the Company's
business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from those in
forward-looking statements.

Shareholder Information Gateway: www.brasil-telecom.com/

Corporate Website: www.phonebrasil.net/

SOURCE: PhoneBrasil International, Inc.
PhoneBrasil International, Inc., Miami
Anderson Dias, CEO
Corporate Office: 305-599-9949
Investor Relations: 754-366-2171
[e-mail]
[e-mail]
Copyright Business Wire 2007
*** end of story ***