Premier Development & Investment, Inc. Announces Second Quarter Results from Operations

Premier Development & Investment, Inc. (OTCBB:PDIV), in
releasing its financial results for the quarter ended June 30, 2005,
announces that its revenue performance improved compared to the
equivalent period in the prior year. Consolidated revenue for the
second quarter of 2005 was $285,576, representing a $280,576 increase
from the prior year revenues of $5,000. For the six-months ended June
30, 2005 our revenue was $633,192 compared to $13,000 for the same
period a year ago. Premier experienced a net operating loss of
$118,936 for this period compared to a net operating loss of $32,957
in the second quarter of 2004. The increase in operating loss is
primarily attributable to $36,616 in depreciation expenses that did
not exist a year ago plus a one-time expense of $35,000 for the
settlement of litigation and another one-time expense of $32,162 for
disposition of the Countrywide Realty Services, Inc. subsidiary.
   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. In this past quarter we saw both a one-time write-down charge
of $32,162 as a result of the disposition of the Countrywide Realty
Services, Inc. division and a one-time $35,000 expense to settle a
litigation matter. Combined these events contributed substantially to
our net loss, both for the quarter and six-months ended June 30, 2005.
Moving forward we will be exposed to less depreciation expense due to
our decision to divest ourselves of the Countrywide operations in
which over $400,000 in recorded Goodwill from the original transaction
was eliminated from our balance sheet."
   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.com/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.