Board Appointment

Phoenix Group Holdings (the "Company") - Board Appointment of Clive Bannister

Following the Company's announcement on 8 February 2011 of the appointment of Clive Bannister as Group Chief Executive, Mr Bannister was formally appointed as an Executive Director with immediate effect at a Board Meeting of the Company held on 28 March 2011.

There are no disclosures to be made under LR 9.6.13R.

-ends-

Further Information

Media:

Daniel Godfrey, Director of Corporate Communications, Phoenix Group

+ 44 (0) 20 7489 4517 (DD)

+ 44 (0) 7894 937 890 (Mob)

Investors:

Lorraine Rees, Head of Investor Relations, Phoenix Group

+44 (0) 20 7489 4456 (DD)

+44 (0) 787 2413 277 (Mob)