The Phoenix Holdings Ltd.

Report Publication Announcement • Apr 15, 2010

Phoenix Group Holdings

2009 Annual Report and Accounts

Phoenix Group Holdings (the "Company") has today published its 2009 Annual Report and Accounts on its website which is available to investors and other interested parties at www.thephoenixgroup.com.

The Company's 2009 Annual Report and Accounts has been submitted to the Netherlands Authority for the Financial Markets, Euronext Amsterdam and the UK Listing Authority and will shortly also be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority 25 The North Colonnade Canary Wharf London E14 5HS Tel: +44 (0) 20 7066 1000

Media:

Daniel Godfrey, Director of Corporate Communications, Phoenix Group + 44 (0) 20 7489 4517 (DD) + 44 (0) 7894 937 890 (Mob)

Andrew Grant, James Bradley, Mal Patel, Tulchan Communications + 44 (0) 20 7353 4200

Investors:

Lorraine Rees, Head of Investor Relations, Phoenix Group +44 (0) 20 7489 4456