Phoenix Group Holdings Regulatory News (PHNX)

Phoenix Group Holdings announces that the Financial Conduct Authority has granted Change in Control approval for the divestment of Ignis Asset Management Limited to Standard Life Investments (Holdings) Limited

Phoenix Group Holdings, the UK's largest specialist closed life fund consolidator, today announces that the Financial Conduct Authority has granted Change in Control approval for the divestment of Ignis Asset Management Limited to Standard Life Investments (Holdings) Limited (the "Divestment").

No further regulatory approvals are required for the Divestment. The Divestment is expected to complete on 1 July 2014.

Enquiries

Investors:

Sam Perowne, Head of Investor Relations, Phoenix Group

+44 (0) 20 3735 0021

Media:

Neil Bennett, Maitland

Peter Ogden, Maitland

+ 44 (0) 20 7379 5151

Notes

Phoenix is the UK's largest specialist consolidator of closed life funds with over 5 million policyholders as at 31 December 2013.