TRIPOLI, Libya -- According to Phoenicia Group, the U.S.-Libyan diversified business group, which is a strategic partner to several U.S. and international companies in Libya, business opportunities in the oil services sector is rocketing as E&P majors ratchet up their drilling schedules in Libya's much sought oil fields, with hundreds of wells estimated to be drilled in the next few years.

TRIPOLI, Libya -- Phoenicia Group Libya LLC (www.phoenicia-group.net), the leading U.S.-Libyan diversified business and consultancy group, today announced acquisitions of several Libyan companies in key growth sectors in Libya and spearheading the establishment of Libya's first private equity fund. New acquisitions include Al-Itlala Healthcare Co, a medical services company.

TRIPOLI, Libya -- According to Phoenicia Group, a decision last month by the General People's Committee, the Libyan equivalent of Parliament, mandating foreign companies in Libya active in the oil services, construction, industry, electricity, communications, transportation, and agribusiness and marine and animal resources sectors, to form Joint Ventures through Joint-Stock companies with Libyan partners.

TRIPOLI, Libya -- Phoenicia Group Libya LLC, the U.S.-Libyan risk management and business services firm, today announced a two year cooperation and partnership agreement with the Libya-based Environment Friend's Association (EFA), a non governmental organization concerned with safeguarding and preserving Libya's environment.

TRIPOLI, Libya -- Phoenicia Group Libya LLC, the U.S.-Libyan diversified business and consultancy firm, today announced its partnership with the Beyster Institute at the Rady School of Management, University of California, San Diego, in organizing and implementing the MEET U.S. Program 2007 in Libya.

TRIPOLI, Libya -- Officials at Phoenicia Group (www.phoenicia-group.net), a leading U.S.-Libyan risk management consultancy and advisory firm, say U.S.-Libya trade and business confidence has reached an all time high, as U.S. companies show significant interest in learning about doing business in Libya, and as more U.S. businesses opted to join targeted high profile trade delegations visiting Libya this year.