Holding in Company

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise
price

Expiration
date

Exercise/
Conversion
period

Number of voting
rights instrument
refers to

% of voting rights

RNS Number : 2052U

Phoenix Group Holdings

11 October 2010

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Phoenix Group Holdings

2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights		X
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):

3. Full name of person(s) subject to the notification obligation:	Lloyds Banking Group plc
4. Full name of shareholder(s) (if different from 3.):	See Section 9
5. Date of the transaction and date on which the threshold is crossed or reached:	6 October 2010
6. Date on which issuer notified:	8 October 2010
7. Threshold(s) that is/are crossed or reached:	Direct / Indirect increased to above 3%

8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights
			Direct	Direct	Indirect	Direct	Indirect
Eur 0.0001	N/A	N/A	4,268,427	4,268,427	662,260	2.589%	0.402%
KYG7091M1096

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ Conversion Period	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights
Warrants over Ordinary Shares	05/07/2015	05/07/2010 - 06/07/2015	1,261,510	0.765%
Contingent Rights (Event Shares) over Ordinary Shares	22/06/2013	05/07/2010 - 22/06/2013	218,474	0.133%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

6,410,671

3.889%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

Equities

2,077,184 shares (1.260%) are under the control of Ranelagh Nominees Limited, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct Interests).

1,078,938 shares (0.654%) are under the control of Bank of Scotland plc a wholly owned subsidiary of HBOS plc, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct Interests).

887,305 shares (0.538%) are under the control of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct Interests).

881,860 shares (0.535%) are under the control of Scottish Widows Investment Partnership Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Indirect Interests).

Warrants

1,261,510 warrants (0.765%) are under the control of Ranelagh Nominees Limited, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct Interests).

Contingent Shares

119,884 shares (0.073%) are under the control of Bank of Scotland plc a wholly owned subsidiary of HBOS plc, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct Interests).

98,590 shares (0.060%) are under the control of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct Interests).