Phoenix Associates Land Syndicate (fka PBLSQ)

[smokenmirrorsroge]

MADISONVILLE, LA -- (MARKET WIRE) -- 10/09/07 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced today that the Company is in the process of an ongoing investigation related to Michael Riley and certain information about Mr. Riley and others that was released about them by the Company in recent news releases. In this regard, Paul Alonzo, CEO and President of Phoenix, has written the following letter to shareholders.


Phoenix continues to operate its divisions as usual, while dealing with this very serious issue. We will continue to make news releases from time to time as our ongoing investigation and the investigations of certain local, state and federal authorities that are now involved brings out all the facts on these matters.


(Notice when certain people post these PR's they forget to include "and others" and "and federal authorities".)

It seems some people continue to sanitize.IMHO