Phoenician Corporation V Limited Further Extension of Long Stop Date

Phoenician Corporation V Limited (the "Company")
Extension of Long Stop Date to Friday 6 May 2011

The directors of the Company, acting by way of committee formed on 24 December 2010 to approve matters related to the reverse takeover of Prime Investments Group Limited ("Prime"), have voted to further extend the long stop date from the current date of Friday 1 April 2011 to Friday 6 May 2011.

The directors have sought and received permission from a majority shareholders of the Company to exercise the discretion afforded to them to extend the long stop date.

The directors have been working with Prime management to fully complete the supplementary requests which have been raised subsequent to submission of the admission application.

The necessary amendments to the relevant documentation are in the process of being collated.

Jason Futko,

Phoenician Corporation V Limited
Second Floor, Olde Towne Marina
Sandy Port, West Bay Street
PO Box N4825
Nassau, Bahamas
T: 0014163193111
E: jfutko@gmail.com

Gerard Thompson & John May

City & Westminster Corporate Finance LLP
2nd Floor, Stanmore House
29-30 St James's St.
London SW1W 1HB
T: 004420 7766 0080
F: 004420 7839 5870
E: gthompson@city-westminster.com or jmay@city-westminster.com