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Phoenix Extends 'Pink Ribbon Premiums' To Continue Support for Breast Cancer Research

Phoenix Extends 'Pink Ribbon Premiums' To Continue Support for Breast Cancer Research

Published 10-19-06

Submitted by Phoenix Companies, The

HARTFORD, Conn.--(BUSINESS WIRE)--Oct. 19, 2006--The Phoenix Companies, Inc. (NYSE: PNX) will extend its "Pink Ribbon Premiums" program, which ties a percentage of sales of life insurance policies issued to women to a charitable donation to The Breast Cancer Research Foundation (BCRF), through the end of 2006.

The program, originally scheduled to end on September 30, was launched last September to recognize the company's 50th anniversary of introducing lower life insurance rates for women, a now common practice in the industry.

"The Pink Ribbon program celebrates one of our first underwriting innovations and is a testament to our commitment to serve as a good corporate citizen," said Dona D. Young, chairman, president and chief executive officer. "We've received a very positive response to this program from our sales team, and we're proud that our donation, which is already more than $700,000, will help fund critical research toward finding a cure for breast cancer."

During the past year, the increase in the number of Phoenix policies sold to women was more than double the growth rate of all its life business. "We're particularly pleased by this growth in sales to women because historically women have been underinsured," said Mrs. Young. "Helping more women achieve financial security is an added benefit of the program."

The donation to BCRF equals up to 1 percent of annualized premiums on all life insurance products issued to women during the time of the program. The donation, made by Phoenix directly to BCRF, does not affect premium amounts, policy values or performance.

October is National Breast Cancer Awareness month, during which BCRF and other breast cancer organizations raise awareness of the disease and promote breast health.

Phoenix is a leader in the life insurance industry, with a distinguished record of industry firsts in product design and underwriting. In addition to being the first to introduce lower life insurance rates for women, it was the first insurer to offer discounted premiums for non-smokers and the first U.S. company to introduce second-to-die policies.

Phoenix is also nationally recognized for its advancement of female executives and has been consistently honored for providing a supportive culture for women to work. The National Association for Female Executives has selected Phoenix as a Top 30 Company for Executive Women for five years, and Working Mother magazine has included Phoenix as one of its 100 Best Companies for 15 years. On October 18, Working Mother enshrined Phoenix in its Hall of Fame.

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 2005, Phoenix had annual revenues of $2.6 billion and total assets of $27.7 billion. For more information, visit www.phoenixwm.com.

The Breast Cancer Research Foundation was founded in 1993 as an independent, not-for-profit 501(c)(3) organization dedicated to funding innovative clinical and genetic research. The Foundation supports scientists at leading medical centers worldwide whose research is focused on achieving prevention and a cure for breast cancer in our lifetime. A minimum of 85 cents of each dollar donated to the Foundation goes directly to breast cancer research and awareness programs. For more information, visit www.bcrfcure.org or call 1.866.FIND.A.CURE.

Copyright Business Wire 2006

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Phoenix Companies, The

Phoenix Companies, The

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 2005, Phoenix had annual revenues of $2.6 billion and total assets of $27.7 billion. For more information, visit www.phoenixwm.com.

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