Phoenix International Ventures, Inc. Announces Year End Results

CARSON CITY, NV -- (MARKET WIRE) -- 04/02/08 -- Phoenix International Ventures, Inc. (OTCBB: PIVN) ("Phoenix" or "the Company"), an Aerospace Defense company, announced financial results for the twelve months ended December 31, 2007.

Zahir Teja, President and CEO of Phoenix, stated, "This has been a strategic year for us. We have successfully achieved the quotation of the company's shares on the OTCBB market and raised capital. We have increased our backlog to approximately $3.6M and made significant progress in the execution of the study contracts for the USAF and US Navy. We believe that the positive results of these contracts represent potential for revenues which would greatly exceed the company's total annual revenues last year. In addition, we have been successful in marketing our products to International customers that currently represent approximately 31% of our backlog. We believe that in 2007, we have successfully laid the groundwork for a growing and profitable company."

For the twelve months ended December 31, 2007, revenues were $948,775 compared to $1,160,455 in 2006. Losses from operations amounted to $1,191,219, in comparison to a $52,377 net loss from operations for the same period in 2006. Net loss amounted to $1,221,539 in comparison to a net loss of $131,017, in 2006. A significant portion of the expenses were compensation expenses derived from the issuance of stock and options which are not expected to recur in 2008. The company's backlog increased to $3.6 Million for December 31, 2007 in comparison to a $2.6 Million dollar backlog for December 31, 2006. Commenting on the financial results, Zahir Teja, our president and CEO stated: "A great deal of our 2007 expenses were caused by non cash expenditures related to options and shares granted, which expenses were in the amount of approximately $545,000, as well as by the expenses incurred in becoming a publicly traded company. We believe that our new status as a public company will have a positive impact on our future growth and profitability."

About Phoenix International Ventures, Inc.

Phoenix International Ventures, Inc. of Carson City, Nevada, was established in order to acquire and develop business in the defense and aerospace market. The company has acquired 100% of Phoenix Aerospace Inc., which specializes in manufacturing, remanufacturing and upgrading of Ground Support Equipment (GSE), which is primarily used to support military aircraft.

Certain statements in this news release by Phoenix International Ventures, Inc. are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company's ability to fund ongoing operations and to complete its obligations under the government and/or customer contract and its other ongoing commitments. Future results and trends depend on a variety of factors, including the Company's successful execution of internal performance plans; product development and performance; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.

Contact: Neev Nissenson neev@phxaero.com

Website: http://www.phxaero.com

2008-04-02 16:33:53 0326852 MARKETWIRE