PNX Phoenix It

RNS Number:6466Z
Phoenix IT Group PLC
04 July 2007



TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):
PHOENIX IT GROUP PLC

2. Reason for the notification (please state Yes/No): ( )

An acquisition or disposal of voting rights: (No)

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: (No)

An event changing the breakdown of voting rights: (Yes)

Other (please specify) : (No)

3. Full name of person(s) subject to the notification obligation (iii):
UBS Global Asset Management - Traditional Entities

4. Full name of shareholder(s) (if different from 3.) (iv):
UBS Global Asset Management (UK) Limited
UBS Global Asset Management (Americas) Inc.
UBS Global Asset Management (Canada) Co.
UBS Global Asset Management Life Limited

5. Date of the transaction (and date on which the threshold is crossed or
reached if different) (v):
29th June 2007

6. Date on which issuer notified:
3rd July 2007

7. Threshold(s) that is/are crossed or reached:
Below 3%, non-notifiable disclosure

8. Notified details:

A: Voting rights attached to shares

Class/type of shares if  Situation previous to the Triggering transaction (vi)
possible using the ISIN
CODE
                         Number of shares    Number of voting Rights (viii)

GB00B0315W65                    3,262,164                        3,262,164


Resulting situation after the triggering transaction (vii)

Class/type of  Number of        Number of voting rights (ix)      % of voting
shares if      shares                                             rights
possible using
the ISIN
CODE
               Direct           Direct (x)       Indirect (xi)    Direct   Indirect

GB00B0315W65   Non-notifiable   Non-notifiable   Non-notifiable   Below    Below 3%
                                                                  3%

B: Financial Instruments
Resulting situation after the triggering transaction (xii)

Type of      Expiration Exercise/      Number of voting rights that may % of
financial    Date       Conversion     be acquired if the instrument is voting
instrument   (xiii)     Period/ Date   exercised/ converted.            rights
                        (xiv)


Total (A+B)

Number of voting rights                      % of voting rights
Non-notifiable                               Below 3%

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

N/A

Proxy Voting:

10. Name of the proxy holder:
UBS Global Asset Management on behalf of a number of asset management clients

11. Number of voting rights proxy holder will cease to hold:
.................

12. Date on which proxy holder will cease to hold voting rights:
.................

13. Additional information:
.................


14. Contact name:

Susanne Steyn
Director
UBS AG

15. Contact telephone number:

0207 568 4981






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

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