Phoenix Group Holdings Regulatory News (PHNX)

Phoenix Group Holdings - Board Changes

The Board of Phoenix Group Holdings ("Phoenix") announces the following changes:

Alastair Lyons will retire from the Phoenix Board on 30 September 2013.

Alastair Barbour will join the Phoenix Board as a non-executive director with effect from 1 October 2013 and will immediately succeed Alastair Lyons as Audit Committee Chair.

Ian Cormack will immediately succeed Alastair Lyons as Senior Independent Director with effect from 1 October 2013.

Commenting on these changes, Howard Davies, Phoenix Chairman said: "I would like to thank Alastair Lyons for his valuable contribution to Phoenix since his appointment to the Board in March 2010 and through its progress as a premium listed company from July 2010. We are fortunate to have secured Alastair Barbour as a new non-executive director. His experience makes him well-equipped to take on the Audit Committee role on joining the Board. I look forward to working with him. I am pleased that Ian Cormack has accepted the position of Senior Independent Director recognising his ability and experience within Phoenix and externally, and the respect in which he is held by his colleagues."

Enquiries

Investors:

Katherine Jones

Head of Investor Relations, Phoenix Group

+44 (0)20 7489 4879

Media:

Neil Bennett, Maitland

Peter Ogden, Maitland

+ 44 (0) 20 7379 5151

Notes to Editors:

Alastair Barbour

Alastair Barbour has over 30 years audit experience from KPMG where he worked across the full spectrum of financial services clients from large general insurers and reinsurers to the life assurance and investment management sector. He worked on a range of operational and strategic issues. Mr Barbour is the former Head of Financial Services, Scotland for KPMG. He stepped down from this role in 2011 to build a non-executive career. He is a director and Audit Committee Chair of RSA Insurance Group plc, Standard Life European Equity Trust plc and Lion Trust Asset Management plc (all London Stock Exchange listed companies). He is also a director and Audit Committee Chair of CATCo reinsurance Opportunities Fund Ltd, a Bermuda licensed reinsurance company listed on the London Stock Exchange.

Alastair Barbour currently holds no shares in Phoenix Group Holdings.

Regulatory approval to Mr Barbour's appointment has been obtained and, save as disclosed above, there is no further information to be disclosed pursuant to paragraph 9.6.13 of the Listing Rules of the Financial Conduct Authority.