The Phoenix Companies, Inc. Declares Annual Shareholder Dividend and Announces Voting Results from 2008 Annual Meeting

The Phoenix Companies, Inc. (NYSE: PNX) today announced that its Board of Directors declared an annual cash dividend of $0.16 per share, payable July 11, 2008 to shareholders of record on June 13, 2008. Phoenix also announced voting results for its Annual Meeting of Shareholders, which was held today at its offices in Hartford. Shareholders approved two proposals: They elected five directors to hold office until the 2011 Annual Meeting of Shareholders. All of the nominees are already directors of the company: Sal Alfiero, former chairman and chief executive officer of Protective Industries and previous chairman and chief executive officer of Mark IV Industries; Martin Baily, senior fellow at the Brookings Institution; John Forsgren, former vice chairman, executive vice president and chief financial officer of Northeast Utilities; Jack Haire, principal owner of Haire Media Advisory and retired executive vice president of Time, Incorporated; and Thomas Johnson, retired chairman and chief executive officer of GreenPoint Financial Corporation. They ratified the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2008. As previously announced, Phoenix’s Board appointed two new directors after the Annual Meeting concluded, increasing the size of the Board from 13 to 15 directors. Augustus Oliver, a principal of Oliver Press Partners LLC, was appointed to the class of directors whose term of office will expire at the company’s 2009 Annual Meeting; and Arthur Weinbach, Chairman of the Board of Broadridge Financial Solutions, Inc., was appointed to the class of directors whose term of office will expire at the company’s 2010 Annual Meeting. With roots dating to 1851, The Phoenix Companies, Inc. helps individuals and institutions solve their often highly complex personal financial and business planning needs through its broad array of life insurance, annuities and investments. In 2007, Phoenix had annual revenues of $2.6 billion and total assets of $30.2 billion. For more information, visit Phoenix’s Web site, www.phoenixwm.com.