Phoenix Investors, LLC Announces New Leases with Big 8 Foods.

Phoenix Investors, LLC Announces New Leases with Big 8 Foods.

Big 8 Foods,Inc. acquires lease rights of Furrs Supermarkets, Inc.

Milwaukee, Wisconsin --August 31, 2001-- Frank Crivello, Executive Vice President, Phoenix Investors, LLC ("PI"), www.phoenixinv.com, announced that Big 8 Foods, Inc. , www.big8.com, acquired the leasehold rights of Furrs Supermarkets, Inc. for the properties owned by Furrs 6, LLC at 3528 Montana, El Paso, Texas and Furrs 8, LLC at 9480 Viscount, El Paso, Texas. Big 8 Foods, Inc. is a regional El Paso grocery chain. The lease term has approximately 18 years remaining.

PI Executive Vice President Frank P. Crivello stated: "The Furrs stores suffered from competitive pressures led by Wal-Mart. Big 8 Foods, Inc. is a local regional operator. As such, it is well equipped to face the competitive landscape. We support Big 8 and wish them well."

PI Managing Director David Marks stated: "Our management supports this acquisition and believes it strengthens the competitive position of Big 8 as Furrs' successor. Furrs enjoyed a strong market share in the El Paso, Texas market; we are hopeful Big 8 can be more effective against competitors such as Wal-Mart, www.walmart.com. We are pleased to work with Big 8."

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.

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