News Release-- March 13, 2006

CSC’S APPLICATIONS MANAGEMENT SERVICES NOW IN FORCE AT PHOENIX LIFE INSURANCE

Insurer’s Software Systems Supported by Onshore and Offshore Resources

EL SEGUNDO, Calif., March 13 – Computer Sciences Corporation (NYSE: CSC) today announced that it is now providing applications management services to Phoenix Life Insurance Company, a subsidiary of The Phoenix Companies Inc. (NYSE: PNX). By using CSC’s applications management services, Phoenix is reducing its software and infrastructure costs while improving work processes, service levels and security measures.

A CSC client since the early 1980s, Phoenix uses a number of CSC software applications, including VANTAGE-ONE, PerformancePlus, Repetitive Payment System, JETS and LIFE-COMM, to manage its life insurance and annuity products. Last December, Phoenix signed a new five-year contract with CSC to provide applications maintenance and development of these CSC products, software execution monitoring and problem resolution, and software and environment testing.

"We looked very carefully at ways to control our applications management costs and decided the best option was to take advantage of our existing relationship with CSC," said John LaGrasse, Phoenix senior vice president and chief information officer. "They had the talent in place who would address our business needs and help us provide the best possible service to our life insurance and annuity customers."

"Our long relationship with Phoenix has spanned the delivery of CSC software, business process outsourcing services and daily applications management support," said Michael W. Risley, president of the Life and Annuity Division of CSC’s Financial Services Group. “Now, with Phoenix drawing on our experience and ability to provide service 24x7 from anywhere in the world, we’re delivering even greater results as Phoenix looks to reduce costs without risking quality or service."

CSC’s applications outsourcing clients can access a network of more than 35,000 CSC applications professionals at 50 centers in 21 countries. Through CSC's world sourcing model, which delivers world-class expertise from the most cost-effective sources, the company offers clients around-the-clock, seamless, flexible staffing from its global technology centers. In India, more than 4,400 CSC professionals in Noida, Hyderabad and Indore provide applications services, information technology (IT) infrastructure services, financial software services, enterprise solutions and business process outsourcing.

About Phoenix

The Phoenix Companies, Inc. is a leading provider 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 company provides products and services to affluent and high-net-worth individuals and to institutions. With a history dating to 1851, The Phoenix Companies, Inc. has two principal operating subsidiaries, Phoenix Life Insurance Company and Phoenix Investment Partners, Ltd. The company also offers private placement insurance products through Philadelphia Financial Group, a wholly owned subsidiary. Phoenix has corporate offices in Hartford, Connecticut. For more information on Phoenix, visit: www.PhoenixWealthManagement.com.

About CSC

Founded in 1959, Computer Sciences Corporation is a leading global IT services company. CSC’s mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.

With approximately 80,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC’s own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.6 billion for the 12 months ended Dec. 30, 2005. For more information, visit the company's Web site at www.csc.com.

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