Premier Announces Record Third Quarter Results

Premier Development & Investment, Inc. (OTCBB:PDIV), in
releasing its financial results for the quarter ended September 30,
2005, announces that its revenue performance improved compared to the
equivalent period in the prior year. Consolidated revenue for the
third quarter of 2005 was $323,641, representing a $139,544 or 75.8%
increase from the prior year revenues of $184,097. For the nine-months
ended September 30, 2005 our revenue was $963,160 compared to $197,097
for the same period a year ago. Premier experienced a net operating
loss of $1,406,628 for this period compared to a net operating loss of
$46,731 in the third quarter of 2004. The increase in operating loss
is primarily attributable to a one-time expense of $1,382,530 for the
issuance of shares of common and preferred stock and $36,616 in
depreciation expenses.
   Commenting on the results, J. Scott Sitra, President and Chief
Executive Officer, said, "We are very pleased to report this
substantial increase in operating revenue over the prior year's
results. Cash flows continue to improve which is attributable to the
strong operating activities of our Player's Grille subsidiary."
   Full details regarding Premier's performance and financial data
can be found in the 10-QSB report, which was filed today with the
Securities and Exchange Commission. A link can be found on Premier's
website: http://www.premierdev.info/InvestorRelations under the tab,
SEC Filings.

   About Premier

   Premier Development & Investment, Inc. is a publicly held
developer and operator of theme-based restaurant and bar concepts.
These concepts are developed internally and through partnerships with
other restaurant developers with the intent of building them into
full-fledged chains and franchise opportunities. Premier owns and
operates the Player's Grille Restaurant and Bar(TM), a casual dining
sports themed concept based in Florida.

   The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain information
included in this press release (as well as information included in
oral statements or other written statements made or to be made by
Premier Development & Investment, Inc.) contains statements that are
forward-looking, such as statements relating to the future anticipated
direction of the restaurant industry, plans for future expansion,
various business development activities, planned capital expenditures,
future funding sources, anticipated sales growth and prospective
dealings and joint venture projects. Such forward-looking information
involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such
results may differ from those expressed in any forward-looking
statements made by or on behalf of Premier. These risks and
uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing
management, financing activities, domestic and global economic
conditions, and changes in federal or state tax laws. For a
description of additional risks and uncertainties, please refer to
Premier's filings with the Securities and Exchange Commission.