Exhibit 99.2
[Logo]Phoenix
The Phoenix Companies, Inc. N E W S R E L E A S E
One American Row
PO Box 5056
Hartford CT 06102-5056
PhoenixWealthManagement.com
For Immediate Release
Contacts:
Media Relations Investor Relations
Alice S. Ericson Peter A. Hofmann
860-403-5946 860-403-7100
Phoenix Life Insurance Company Intends to Sell $175 Million of Surplus Notes
HARTFORD, Conn., December 7, 2004 - The Phoenix Companies, Inc. (NYSE: PNX) today announced that Phoenix
Life Insurance Company, one of its principal operating subsidiaries, intends to offer approximately $175
million aggregate principal amount of surplus notes with a scheduled maturity of 30 years in an offering
that will be exempt from the registration requirements of the Securities Act of 1933. Phoenix Life will
use the net proceeds from this offering to finance our previously announced note purchase offer and will
use any remaining balance for general corporate purposes, including the repayment at their maturity of any
of the 6.95% Surplus notes not tendered pursuant to the note purchase offer.
The surplus notes to be offered by Phoenix Life Insurance Company have not been and will not be
registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration requirements thereof.
The Phoenix Companies, Inc. is a leading manufacturer of life insurance, annuity and asset management
products for the accumulation, preservation and transfer of wealth. Through a variety of advisors and
financial services firms, The Phoenix Companies provides products and services to affluent and
high-net-worth individuals and to institutions. The Phoenix Companies has corporate offices in Hartford,
Conn.
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