Director Disclosure

Phoenix Group Holdings (the 'Company')

Director Notification

04 January 2011

In compliance with Listing Rule 9.6.14, the Company announces that Mr Ian Cormack, a non-executive Director of the Company, has been appointed a non-executive director of Bloomsbury Publishing Plc with effect from 1 January 2011.

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)