Marshall & Ilsley Bank renews lease at shopping center.

Milwaukee, Wisconsin --July 1, 2001--  David M. Marks, Managing Director, Phoenix Investors, LLC ("PI"), announced that Marshall & Ilsley Bank, renewed its tenancy at East Towne Plaza, Milwaukee, Wisconsin. East Towne Plaza is a neighborhood shopping center located on the "Gold Coast" of Milwaukee, Wisconsin.

PI Vice President Paul Schwabe stated: "We were pleased to renew our lease with M&I Bank. Our tenants and customers find M&I convenient and customer friendly."

About Phoenix Investors, LLC:

PI provides PI with 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.

About Farwell Plaza and East Towne Plaza:

Farwell Plaza and East Towne Plaza are neighborhood shopping centers located on the "Gold Coast" of Milwaukee, Wisconsin. Farwell Plaza and East Towne Plaza have rich and storied histories. During the 1960’s and early 1970’s, Brady Street was the center of Milwaukee’s counterculture. By the late 1970’s, Brady Street declined and became the home to many transients and drug houses. By 1982, Brady Street had a number of vacant or burnt out buildings including a vacant mixed use building now known as Farwell Plaza. In 1982, Frank Crivello and Joseph Crivello saw much promise for the Lower East Side and became its pioneers. In 1983 Frank Crivello and Joseph Crivello acquired a vacant mixed use building on nearby Farwell Avenue renovated it into Farwell Plaza. In its prior lives Farwell Plaza had many uses in its history including a car dealership, garage, and office building. In 1983, Frank Crivello and Joseph Crivello quietly began to acquire buildings at the eastern most end of Brady Street nearby Farwell Plaza. Frank Crivello and Joseph Crivello acquired a vacant rooming house, auto garage, dry cleaning plant, residential properties, and vacant land. When combined, by 1984, Frank Crivello and Joseph Crivello acquired a city block made up of six parcels. Despite the then history of Brady Street, Frank Crivello and Joseph Crivello believed in Brady Street and convinced local and national retailers of its potential. The first and most visible tenant was the Walgreen’s Company. In 1984 Frank Crivello commenced efforts to re-zone the properties to local business. Frank Crivello and Joseph Crivello opened Farwell Plaza and East Towne Plaza in the summer of 1985. They were an instant success. Both have remained substantially occupied for the last twenty years. The Crivello family continues to own Farwell Plaza and East Towne Plaza. Farwell Avenue and Brady Street have flourished since the opening of Farwell Plaza and East Towne Plaza. It is now the home to many new commercial enterprises. Frank Crivello and Joseph Crivello are proud of what Farwell Avenue and Brady Street have become and their contribution to its renaissance.

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.