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Press Release
Source: Phoenix Investors, LLC

Phoenix Investors, LLC Announces Family Dollar Stores Lease
at Woodland Court, Milwaukee, Wisconsin

Family Dollar Stores joins Woodland Court Shopping Center

Milwaukee, Wisconsin --May 1, 2004--  David M. Marks, Managing Director, Phoenix Investors, LLC (“PI”), www.phoenixinv.com announced that Family Dollar Stores of Wisconsin, Inc., www.familydollar.com, became a tenant of Woodland Court Shopping Center, Milwaukee, Wisconsin. Woodland Court Shopping Center is a neighborhood shopping center located in southwest Milwaukee, Wisconsin.

PI Vice President Paul Schwabe stated: “We were pleased to add Family Dollar to our family of tenants. Our tenants and area residents are pleased to have Family Dollar in Woodland Court.”

About NNN Group, Inc., www.nnn.net

NNN provides PI with real estate management and advisory services.

About Phoenix Investors, LLC, www.phoenixinv.com:

PI provides real estate management and advisory services. Since 1994 PI has been offering professional management and advisory solutions to public and private companies, trusts, and individual investors. Our management endeavors to understand our clients individual needs, work with our client to assess specific goals, and structure investments according to our clients specific risk/reward profile to meet both the clients short term and long term needs. Our real estate management team professionally manages our portfolio properties through a combination of local and national representation in order to effectively create a "working-bridge" between owner and tenant, building a cooperative mutually beneficial working relationship. Our experts assess and refine our client's portfolio's to maximize our clients cash flow, equity accumulation, and internal rate of return based upon our clients specific dynamic goals

Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the PI could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in PI's operations or business.

Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com

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