Phoenician V - Interim Report

The Company is pleased to announce interim results for the period ending 28 February 2009.  Since admission to PLUS in January 2009, the Company continues to search for appropriate Asian Active Businesses engaged in key sectors of agriculture and consumer staples, infrastructure, industrial and service relate companies offer material opportunities for growth.   It is the intention of the Company to effect an acquisition or sign a letter of intent, agreement in principle or definitive agreement for an acquisition within 12 months following its admission to PLUS.  As mentioned in the Admission document, the Company Directors have identified a number of potential acquisition targets but no due diligence has been concluded and accordingly no potential acquisitions have yet been needed to bring to shareholders attention.

Jason Richard Futko
Chairman

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