Completion of Ignis Divestment

Phoenix Group Holdings announces the completion of 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, confirms that the divestment of Ignis Asset Management Limited to Standard Life Investments (Holdings) Limited completed today.

The cash consideration received was £390 million (subject to adjustment), of which £250 million will be applied as a prepayment of the Impala debt facility.

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