» » Groundbreaking Ceremony Held for PHILand Ranch's Pointe91 Development Project in Chu Lai

VNRE - PHI Group, Inc., an M & A company with diversified holdings in real estate development, energy, natural resources and special situations announced today that its subsidiary PHILand Ranch Ltd., a company engaged in the development of master-planned communities, residential and commercial properties, and hospitality services in Vietnam and Southeast Asia, (WKN A0RPEA, Frankfurt:1P8) successfully conducted the groundbreaking ceremony on Thursday, July 28, 2011 for the Pointe91 luxury resort and elite residential community at Bien Rang Beach, Chu Lai, Quang Nam Province, Vietnam.

Attending the ceremony for Pointe91 groundbreaking were more than 150 guests, including leaders and representatives from the Vietnam's central, provincial and local governments, religious leaders, the media, friends, as well as local business owners.

Located on a majestic bluff overlooking the Southeast Asia Sea with rocky shores that extend to the north and sandy beaches southward, Pointe91 will offer luxury accommodations in an exclusive community including 227 grand private home residences in seven separate communities, an exclusive 180-room five-star beach hotel & spa and 30 detached premium residences that will be offered as part of a private residence club.

Huynh Khanh Toan, Vice Chairman of the Quang Nam Province People's Committee and Director of the Authority of Chu Lai Open Economic Zone, said: " As Quang Nam is focused on green and clean industries for its economic growth, PHILand Ranch's Pointe91 development at this most beautiful piece of land along the province's coastal corridor fits well into our plan and offers a great potential for success."

Henry Fahman, Chairman of PHILand Ranch, stated:" While we are also working with other local partners on a number of projects in Ha Noi, Ho Chi Minh and some major cities in Vietnam at the present which have shorter turnaround schedules than that of Pointe91, we are committed to making a difference with this development."

Pointe91 is strategically located less than seven minutes from the Chu Lai Airport and also easily accessible by highway, train, and sea. Pointe91 is expected to become a choice destination for people from Southeast Asia, Hong Kong, Japan, Korea, Australia, Europe and the U.S., as well as the fast-growing, local affluent Vietnamese population.

About PHILand Ranch Ltd.

PHILand Ranch Limited, a United Kingdom corporation, is engaged in the development of master-planned communities, residential and commercial properties, and hospitality services in Vietnam and the growing economies of Southeast Asia. The company is currently developing Pointe91 at Bien Rang, Chu Lai, Quang Nam Province, Central Vietnam through its wholly owned Vietnam-based subsidiary PHILand Vietnam Ltd. The Company has also entered into agreements with local Vietnamese partners to co-develop other commercial, residential, industrial and hospitality projects. PHILand Ranch's stock is traded on the Frankfurt Stock Exchange: 1P8.F, WKN A0RPEA. Website: www.PHILandranch.com.

About PHI Group

PHIGroup engages in M&A consulting services, real estate, natural resources, energy, and special situations. PHIGroup takes companies public in the U.S. and Europe and provides access to international capital sources through its subsidiaries PHI Capital Holdings and PHI Vietnam Holdings (www.phiholdings.com), develops real estate projects in Vietnam through PHILand Ranch (www.philandranch.com); Frankfurt:1P8), and engages in natural resources and energy through PHI Gold Corporation (Pinksheets:PHIG), Tricon Gold Corp, PHI Energy Corp (www.phienergycorp.com) and PHI Oil and Gas Ltd. Main corporate website: www.phiglobal.com

Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Source: PHI Group, Inc.

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