Stephen D. Gresham, senior vice president, Phoenix Asset Management, and director of retail markets distribution at Phoenix Investment Partners and Francis G. Waltman senior vice president, Asset Management product development and management have been named the winners of the Fund Marketer of the Year Award. They are delighted. Gresham and Walton earned the award with their efforts to strategically re-balance the mix of Phoenix's investment busines. They love you all. -ed.

Stephen D. Gresham and Francis G. Waltman, two executives of Phoenix Investment Partners, Ltd., the asset management subsidiary of The Phoenix Companies, Inc. (NYSE: PNX) have been named co-winners of the 2006 Fund Marketer of the Year Award, presented at the 14th annual Mutual Fund Awards, sponsored by Fund Action.

Gresham is senior vice president, Phoenix Asset Management, and director of retail markets distribution at Phoenix Investment Partners. Waltman is senior vice president, Asset Management product development and management.

"This award reflects the hard work and dedication of the entire team at Phoenix Investment Partners," said Dona D. Young, chairman, president and chief executive officer. "The growth of the Phoenix Funds is important to the success of Phoenix and I'm delighted that an influential industry group recognizes the momentum we've created in our mutual funds platform."

The Fund Marketer of the Year Award honored Gresham and Waltman for their efforts to strategically re-balance the mix of Phoenix's investment business. "At a time when mutual fund firms are scurrying to get into the separately managed account (SMA) business, Phoenix used its longtime foothold in SMAs to bolster its fund business," Fund Action noted. As a result, Phoenix, which once had separately managed accounts generating 80 percent of its retail sales, now has a majority of retail sales coming from the rejuvenated mutual fund product line.

Of particular note were 2006 marketing campaigns that helped account for $677 million in net flows, and a strategy to strengthen fund offerings by hiring institutional-quality subadvisors and adopting high-performing funds.

Over the past two years, Phoenix has hired institutional managers such as Bennett Lawrence Management and Acadian Asset Management. It has also adopted funds, such as the FMI Sasco Contrarian Value Fund, now called the Phoenix Mid-Cap Value fund, and two funds from Janus Capital Group that are subadvised by Vontobel Asset Management. Phoenix also adopted the Harris Insight Funds last year, an arrangement that was nominated as Deal of the Year, making Phoenix one of the few companies in the industry with two nominations for Fund Action awards.

Although fund performance wasn't a criterion for these awards, Young noted that Phoenix Funds ended 2006 with more than 68 percent of its assets under management outperforming their five-year benchmarks.

Phoenix offers a diversified mix of investments from 17 respected money managers, with a specialized expertise in alternative investments in addition to core investment strategies. This emphasis on quality and choice gives individuals, businesses and institutions access to products that fit their financial goals.

With roots dating to 1851, The Phoenix Companies, Inc. (NYSE:PNX) 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. The company's products and services reflect deep insights into the wants and needs of consumers and financial professionals gleaned from research, including its Phoenix Wealth Survey, conducted annually since 1999. In 2006, Phoenix had annual revenues of $2.6 billion and total assets of $29.0 billion. For more information, visit www.phoenixwm.com. Investors should carefully consider the investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information about the fund. Please contact your financial representative, call 1-800-417-4769 or visit www.PhoenixFunds.com to obtain a current prospectus. You should read the prospectus carefully before you invest or send money. Mutual funds are distributed by Phoenix Equity Planning Corporation, member NASD and subsidiary of Phoenix Investment Partners, Ltd., a member of The Phoenix Companies, Inc.

Edited by: Erin Kello

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