Premier Development & Investment, Inc. Announces Changes to the Executive Management Team and Board of Directors

Premier Development & Investment, Inc. (OTCBB:PDIV)
today announced that Andrew L. Jones has chosen to step down as
President, Chief Executive Officer, Treasurer, Secretary and Chairman
of the Board of Directors. Mr. Jones is departing citing personal
reasons and a desire to pursue other unrelated business interests.
   At a meeting of the board of Directors, Mr. Scott Sitra and
Michael Hume were elected and accepted roles to serve on the Company's
Board of Directors. Mr. Scott Sitra will assume the duties of the
office of President and Chief Executive Officer of the company and Mr.
Michael Hume will act as the Secretary and Treasurer of Premier.
   Mr. Sitra has served as President of Stag Financial Group, Inc.
since January 2001. Stag Financial Group has been a Strategic Alliance
Partner of Premier's since February 2003. Because of Mr. Sitra's
affiliation with Stag Financial Group, which has also assisted Premier
in remaining a fully-reporting company with the Securities and
Exchange Commission, he is quite knowledgeable with Premier's
development since inception. Mr. Hume is currently the general manager
of Premier's wholly owned subsidiary, Players Grille, Inc. He has
been involved in the daily management of the restaurant since August
of 2004.
   Mr. Sitra stated, "I want to first personally thank the previous
Board of Directors and past President, Andrew Jones, for his role in
developing such a great Company to lead and grow. Although delayed due
to a lack of funding up to this point and being distracted due to
litigation efforts, Premier looks forward to being able to get back on
track and continue growing and expanding the Players Grille concept in
the upcoming year."
   Mr. Hume added, "The fiscal structure and corporate management
changes that have been undertaken in the past few months are nearing
completion. With the success we have seen from an operations
standpoint of our first Players Grille unit, we look forward to
scaling our operations."

   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 Players 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.