Phoenix-Duff & Phelps Appoints New Vice President/Senior Analyst; Hagg

    Business Editors

    HARTFORD, Conn.--(BUSINESS WIRE)--Feb. 10, 2005--Frank J. Haggerty, Jr., CFA has joined Duff & Phelps Investment Management, a division of Phoenix Investment Partners Ltd., as vice president and senior analyst. In his new role, Haggerty will work on the Phoenix-Duff & Phelps Real Estate Securities Fund, DNP Select Income Fund and institutional separate accounts.(1)
    "Our real estate team has been recognized for their consistency and performance, and we are dedicated to building on this record. To that end, recruiting new people while nourishing our existing talent is a critical business initiative at Phoenix," said Daniel T. Geraci, executive vice president, The Phoenix Companies, and president and chief executive officer of Phoenix Investment Partners. "Frank's deep understanding of the intricacies of real estate investing will be a valuable asset for the team."
    Prior to joining Phoenix, Haggerty was vice president, senior analyst and portfolio manager for ABN AMRO Asset Management where he was a member of the North American real estate securities team. He has also held positions with The Northern Trust Corporation and Kemper Financial Services.
    Haggerty reports to Senior Portfolio Manager Michael Schatt, and assumed his position on January 18.

    Phoenix Investment Partners, Ltd. is the asset management subsidiary of The Phoenix Companies, Inc., (NYSE: PNX) with $42.9 billion in third party assets under management as of December 31, 2004. Phoenix Investment Partners provides individuals and institutions with disciplined money management through a number of investment affiliates, and offers managed accounts, mutual funds, institutional asset management, closed-end funds and alternative financial products. The Phoenix Companies, Inc. is a leading manufacturer of life insurance, annuity and asset management products for the accumulation, preservation and transfer of wealth. For more information, visit www.phoenixwealthmanagement.com.
    Mutual fund investment return and principal value will fluctuate, so your shares, when redeemed, may be worth more or less than their original cost.
    Investing in REITs involves certain risks such as refinancing, changes in the value of properties REITs own, dependency on management skills, economic impact on the industry and risks similar to those linked to small-company investing.

    (1) For more complete information about the Phoenix-Duff & Phelps Real Estate Securities Fund, please contact your financial representative, call 1-800-243-4361 (TTY: 1-800-243-1926) or visit PhoenixInvestments.com to obtain a current prospectus. You should consider the Fund's investment objectives, charges, expenses and risks carefully before you invest. This information and other information about the Fund is contained in the prospectus. Please read the prospectus carefully before you invest or send money."

    Distributed by Phoenix Equity Planning Corporation, 56 Prospect Street, Hartford, CT 06115

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CONTACT: The Phoenix Companies, Inc. Nicole Laudenslager, 860-403-6067

KEYWORD: CONNECTICUT INDUSTRY KEYWORD: BANKING MANAGEMENT CHANGES SOURCE: The Phoenix Companies, Inc.

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