Although it is not yet the end of year the Company is on track...

Although it is not yet the end of year the Company is on track to again deliver on the promises made to you. In our 2011 annual
report I commented “It is rare to see a Company deliver on promises and this is what distinguishes Phoenix from many of our peers”.
This statement can again be made for 2012.
Dale C Rogers
Chairman
Chairman’s Letter
9th October, 2012
I love this Chairmans letter to shareholders he is right out there, his focus honesty and integrity and keeping the promises they have made to shareholders.