PNX Phoenix It

RNS Number:7965P
Phoenix IT Group PLC
19 January 2007



19 January 2007



                        Phoenix IT Group plc ("Phoenix")
                         Response to press speculation


Phoenix notes the press speculation that it is in talks with ICM Computer Group
plc ("ICM") in relation to a possible offer for ICM by Phoenix.


Phoenix confirms that it is in preliminary discussions with ICM.  There can be
no certainty that these discussions will lead to an offer being made by Phoenix
for ICM.


END


Issued by:
Financial Dynamics
Harriet Keen/Haya Chelhot
Tel: 020 7831 3113



Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"Code"), if any person is, or becomes, "interested" (directly or indirectly) in
1% or more of any class of "relevant securities" of ICM or Phoenix all "dealings
" in any "relevant securities" of that company (including by means of an option
in respect of, or a derivative referenced to, any such "relevant securities")
must be publicly disclosed by no later than 3.30 p.m. (London time) on the
London business day following the date of the relevant transaction.  This
requirement will continue until the date on which the offer becomes, or is
declared, unconditional as to acceptances, lapses or is otherwise withdrawn or
on which the "offer period" otherwise ends.  If two or more persons act together
pursuant to an agreement or understanding, whether formal or informal, to
acquire an "interest" in "relevant securities" of ICM or Phoenix, they will be
deemed to be a single person for the purpose of Rule 8.3.



Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of ICM or Phoenix by ICM or Phoenix, or by any of their respective "
associates", must be disclosed by no later than 12.00 noon (London time) on the
London business day following the date of the relevant transaction.



A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk/new/.



"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities.  In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website.  If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.



In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Phoenix
announces that it has 60,231,635 ordinary shares of 1p each in issue.  The
International Securities Identification number for Phoenix ordinary shares is
GB00B0315W65.



The Directors of Phoenix accept responsibility for this announcement.


To the best of the knowledge and belief of the directors of Phoenix (who have
taken all reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.



UBS Limited is acting exclusively for Phoenix and no one else in connection with
the possible offer and will not be responsible to any person other than Phoenix
for providing the protections afforded to clients of UBS nor for providing
advice in relation to the possible offer or any matter referred to herein.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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