Shareholder Reorganisation

PHOENIX GROUP HOLDINGS

(the "Company")

In accordance with Listing Rule 9.6.16, the Company notes that Marlin Equities IV, LLC ("Marlin") has transferred 225,000 ordinary shares in the Company, representing approximately 0.1% of the Company's currently issued share capital. 

Of these 225,000 shares, 184,727 were transferred to Martin Franklin and the remaining 40,273 shares were transferred to Ian Ashken, a director of the Company. Mr Franklin is the majority owner and managing member of Marlin. Mr Ashken is a director of the Company and a member of Marlin.

The transfers have occurred pursuant to a distribution of Marlin's interests to its underlying members and were permitted under the lock-up arrangements entered into in connection with Company's premium listing. Mr Franklin and Mr Ashken are bound by the same restrictions in relation to these shares (including in relation to disposals of shares to third parties) as applied to the shares before they were transferred.

Mr Franklin and Mr Ashken are currently beneficially interested in 5,885,048 and 1,260,759 shares in the Company, respectively. Marlin is no longer interested in any shares in the Company.

Enquiries:

Media Investor Relations

Daniel Godfrey Lorraine Rees

+ 44 (0) 20 7489 4517 + 44 (0) 20 7489 4456

+ 44 (0) 7894 937 890 + 44 (0) 7872 413277