Phoenix Promotes Wehr, Bassi to Senior Positions

    Business Editors

    HARTFORD, Conn.--(BUSINESS WIRE)--Feb. 4, 2005--The Phoenix Companies, Inc. (NYSE:PNX) today announced the promotion of James D. Wehr to executive vice president and chief investment officer, and Lisa-Lynn Bassi to senior vice president, Albany Operations, effective immediately.
    "Jim has played a lead role in numerous areas of Phoenix, especially as we have strengthened our investment portfolio and divested non-strategic assets to focus on manufacturing products of excellence for the affluent and high net worth. Jim's extensive understanding of our business and his in-depth financial expertise will continue to be invaluable to Phoenix," said Dona D. Young, chairman, president and chief executive officer.
    Mrs. Young continued, "Lisa has made a tremendous impact on Phoenix's operations and customer service areas, increasing efficiency, improving service and freeing up capacity for expansion.
    "These promotions recognize Jim and Lisa's important contributions to Phoenix and to our progress toward profitable growth."
    Mr. Wehr, 47, will continue to report to Mrs. Young. Ms. Bassi, 49, will continue to report to Philip K. Polkinghorn, executive vice president, Life and Annuity.
    Mr. Wehr oversees Phoenix's general account and affiliated investment portfolios. He also directs the Goodwin fixed income group, which manages institutional and mutual fund assets for Phoenix Investment Counsel, Inc. He joined Phoenix in 1981, and holds a Bachelor of Arts degree from Fairfield University and a Masters in Business Administration degree from the University of Connecticut.
    Ms. Bassi is in charge of the company's operations center in Albany, NY., which includes the life and annuity customer service and call centers. She joined Phoenix in 1981, and holds a Bachelor of Arts degree from Hampshire College.

    The Phoenix Companies, Inc. is a leading manufacturer of life insurance, annuity and asset management products for the accumulation, preservation and transfer of wealth. Through a variety of advisors and financial services firms, the company provides products and services to affluent and high-net-worth individuals and to institutions. Phoenix has corporate offices in Hartford, Connecticut. For more information on Phoenix, visit www.PhoenixWealthManagement.com

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CONTACT: The Phoenix Companies, Inc. Media Relations: Laura D. Marzi, 860-403-6607 or Investor Relations: Peter A. Hofmann, 860-403-7100

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

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