Phoenixsurf : On Christian Rishel Issue

We have been working diligently over the last few days to refine the operations of Phoenix Surf. Our staff has been rigorously answering any and all support requests, and executing ideas and concepts from our member base.

Two of our four consultants have fulfilled their contractual obligations and commitments that helped to facilitate and stabilize Phoenix Surf. We would like to thank them for helping to refine certain aspects of our business model as well as referring us to our present Legal Counsel. Effective immediately Christian Rishel and Jayson Benoit have moved on to other ventures with their respective firm, we wish them well in their endeavors. Their conduct while with us was highly professional and without incident.

At this time we would like to also introduce our newest member of our leadership council, Albert Smith. Albert will serve as our Financial Consultant and Chief Financial Officer.

Mr. Smith has been in banking over thirty years starting as a bank examiner in 1974 for almost four (4) years for the State of Mississippi examining banks for safety, soundness and credit quality.

In 1981 Mr. Smith worked for Citizens & Peoples National Bank in Pensacola, Fl as an Assistant Vice President and Personnel officer. His responsibilities were overseeing the personnel department of the bank with approximately 100 other employees and Branch Administration overseeing (6) branches and about 35 direct employees. Mr. Smith attended two schools at the University of Colorado, National Personnel School and the following year for the Personnel Graduate School.

Mr. Smith worked with a group to form First National Bank of Santa Rosa, Milton, Florida in December of 1983, assisted with the charter application, set up internal operational and financial policies, and hired and trained all employees. Mr. Smith also served as Cashier and Secretary to the Board of Directors.

In December of 1986 Mr. Smith joined a group who were forming a new State chartered bank in Pensacola, Florida, American Bank and Trust, where he served as Cashier and Senior Operating Officer. Mr. Smith assisted in writing all operational policies, hired and trained personnel, and managed the daily operations of the bank which included all financial and regulatory reporting, investments and budgeting.

Mr. Smith worked for Citizens Bank in Cookeville, TN owned by Union Planters Bank, for about 10 years serving as Senior Vice president, Chief Financial Officer, and Secretary to the Board of Directors. He was responsible for managing the financial division which included Asset Liability Management, Investment Portfolio, Budgeting, and Strategic planning. Mr. Smith was also in charge of Branch administration of 12 offices in 4 counties. He also received his NASD 6 and 63 license along with a life and variable insurance licenses.

Mr. Smith started his own financial consulting business in 2000 and has worked for other companies such as Averitt Express a Major transportation company in Tennessee, for over two years. His area of work was analyzing business divisions for improvement in services, efficiency and profitability. He was also responsible for the acquisition of a new line of business and incorporating it into the corporate structure. Mr. Smith has consulted with two banks in organization, one in Lebanon, TN CedarStone Bank where he also served as Chief Financial Officer. After leaving CedarStone Bank he began working as a financial consultant to organize a new bank in his home town. Putnam 1St Mercantile Bank, was granted approval to open on November 28, 2005 where Mr. Smith serves as Chief Financial Officer.

Sincerely,

Gabriel Frankewich
Administrator, Phoenix Surf
www.PhoenixSurf.com