Director Declaration

Phoenix Group Holdings (the "Company")

In compliance with Listing Rule 9.6.14 the Company announces that with effect from 11 February 2011, Alastair Lyons, the Company's Senior Independent Director, has been appointed non-executive director of Towergate Partnershipco Ltd, the holding company of the Towergate Insurance Group. Towergate has issued public bonds that are to be listed on the Official List of the Irish Stock Exchange and are to be admitted for trading on its Global Exchange Market.

Investors:

Lorraine Rees, Head of Investor Relations, Phoenix Group

+44 (0) 20 7489 4456 (DD)

+44 (0) 787 2413 277 (Mob)

Media:

Daniel Godfrey, Director of Corporate Communications, Phoenix Group

+ 44 (0) 20 7489 4517 (DD)

+ 44 (0) 7894 937 890 (Mob)