The Phoenix Holdings Ltd.

Notice of Dividend Amount • Sep 7, 2010

PHOENIX GROUP HOLDINGS

Circular to Shareholders - Scrip Dividend Scheme

Phoenix Group Holdings announces the publication of a Circular to Shareholders in respect of its Scrip Dividend Scheme. The Circular and the relevant mandate forms are being posted to Shareholders today, Monday, 6 September 2010.

The timetable for the 2010 Interim Dividend is as follows:-

Ex-dividend date	8 September 2010
Record date	10 September 2010
Scrip calculation price determined	8 – 14 September 2010 (inclusive)
Scrip calculation price available and announced	15 September 2010
Mandate delivery deadline for Shareholders holding shares through Euroclear Nederland	3.00 p.m. (CET), 23 September 2010
Mandate delivery deadline for Shareholders not holding their shares through Euroclear Nederland	4.00 p.m. (BST), 24 September 2010
Dividend payment date	15 October 2010
First day of dealings in New Ordinary Shares	15 October 2010

Payment of the Interim Dividend is subject to compliance with the processes set out in Group's main credit facilities

Full details and copies of the published documents are available on the Company's website at http://www.thephoenixgroup.com.

Copies of the above documents have been submitted to the National Storage Mechanism and will shortly be available for inspection athttp://www.hemscott.com/nsm.do.

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

Note:-Defined terms used in this announcement have the same meaning as given to them in the Circular.