PNX Phoenix It

    RNS Number : 4338D
  Phoenix IT Group PLC
  15 September 2008
   


    15 September 2008

    Statement re Agreement

    Following recent events, Phoenix IT Group plc ("Phoenix" or the "Company") states that it has an agreement with a UK trading subsidiary
of a large investment bank for Business Continuity/Disaster Recovery services for at least a three year period which commenced on 1 November
2007. The agreement provides for fees payable annually in advance, and these have been paid to date. The contract continues to operate as
intended and the next scheduled annual payment (for circa �4m) is due in November 2008.  

    The Company will announce its period-end trading update for the six months ended 30 September 2008 on 9 October 2008.


    Issued by:
    Financial Dynamics, Tel: 020 7831 3113
    Harriet Keen
    Haya Chelhot
    Giles Sanderson

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