Phoenix's Hartford-Based Fixed Income Manager Rebranded as Goodwin Capital Advisers

Business Wire, March 8, 2007

Will manage $17 billion in fixed income assets

HARTFORD, Conn. -- The Phoenix Companies, Inc. (NYSE: PNX) today announced that its fixed income investment division based in Hartford will now operate as a registered investment advisor under the name of Goodwin Capital Advisers, Inc. Previously, the group was organized under Phoenix Investment Counsel, the investment adviser for all Phoenix mutual funds.

"This change gives us the opportunity to promote the strength of Phoenix's fixed income capabilities under a new brand," said James Wehr, Phoenix's senior executive vice president and chief investment officer. "Establishing Goodwin as a separate entity will help distinguish our products from those of other Phoenix managers. There are no changes to our team of 26 dedicated investment professionals or to the investment philosophy and process that have helped us grow to become a recognized leader among fixed income managers."

Goodwin Capital Advisers has expertise in all sectors of the bond market, including evolving, specialized and out-of-favor sectors. It seeks the best opportunities for total return and avoids interest-rate bets. Goodwin expects to have more than $17 billion in mutual fund and institutional account fixed income assets under management when its investment management agreements are complete.

Goodwin and its affiliated company, Phoenix Investment Counsel, remain wholly owned subsidiaries of Phoenix Investment Partners, Ltd. Phoenix Investment Counsel continues to manage equity investments and serves as the investment adviser to all of the Phoenix Funds.

Phoenix offers a diversified mix of investments from Goodwin Capital Advisers and 16 other 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.

Goodwin([R])is a registered service mark of Phoenix Investment Partners, Ltd,

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.