For Immediate Release

Andrew J. Groveman        Lisa Ball/Amy Koppel
Belz Enterprises               Thompson & Baker
901.260.7278                     901.527.8000


Phoenix Communications to join growing tenant base at Shelby Oaks Business Park

Memphis, Tennessee, April 3, 2000 - Phoenix Communications Corporation has leased 3,750 square feet of warehouse space at Shelby Oaks Business Park.

The new location will function as a warehouse, storing inventory for both current and future projects, as well as a development facility allowing Phoenix Communications to design and test new software and automation devices for its systems.

“The growth we are seeing at Shelby Oaks Business Park accurately reflects the trend toward technology,” said Andrew J. Groveman, senior vice president of Belz Enterprises. “Memphis has gone from being a predominately agricultural and industrial city to an incubator for technology jobs.”

Phoenix Communications Corporation was founded in 1994 on the premise that there was an increasing need for high-end systems on the cutting edge of technology.

Specializing in the custom design, installation, service and maintenance of high-end home electronics systems, Phoenix Communications Corporation strives to provide the highest quality components and devices to its customers.

“We address the needs of our clients on an individual basis, spending anywhere from months to years in the design phase of a customers’ project,” said Scott Fuelling, president of Phoenix Communications Corporation. “We evaluate all products prior to recommending them to clients to ensure the highest level of customer satisfaction.”

Phoenix Communications Corporation is a Memphis-based company with 12 employees. The staff, with more than 75 years of experience in the technology industry, is professionally trained to serve all clients, regardless of size, budget or desires.

Belz Enterprises is a leading innovator in real estate development with interests throughout the South and much of the country. Belz develops, owns and manages over 25 million square feet of industrial/warehouse/distribution centers, shopping centers, office buildings, mixed-use centers and corporate campuses. The company also owns a group of premier hotels including the Peabody Hotels in Memphis and Orlando.

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