SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
PHOENIX DUFF & PHELPS CORPORATION
formerly Duff & Phelps Corporation
---------------------------------
(Name of Issuer)
Common Stock
(Title of Class of Securities)
264322108
(CUSIP Number)
Carole A. Masters, Esq.
Phoenix Home Life Mutual Insurance Company
One American Row
Hartford, CT 06102-5056
(860) 275-5538
--------------
(Name, Address and Telephone Number of Person
to Receive Notice and Communication)
November 1, 1995
----------------
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following block if a fee is being paid with this statement [ X ]. (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of less than five percent of such class.
See Rule 13d-7.)
<PAGE>
1. Names of Reporting Persons
a. Phoenix Home Life Mutual Insurance Company
Tax Identification Number: 06-0493340
b. PM Holdings, Inc.
Tax Identification Number: 06-1065485
2. Check the appropriate Box if a Member of A Group
a.
b.
3. SEC Use Only
4. Source of Funds: BK, WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) and 2(e) ____
6. Place of Organization
a. Phoenix Home Life Mutual Insurance Company - New York
b. PM Holdings, Inc. - Connecticut
<PAGE>
<TABLE>
<S> <C> <C>
Number of Common Number of Common
Shares Beneficially Shares Beneficially
Owned by Phoenix Owned by PM
Home Life Initially Holdings, Inc. Initially
7. Sole Voting Power 0 26.4 million1
8. Shared Voting Power 0 0
9. Sole Dispositive Power 0 26.4 million1
10. Shared Dispositive Power 0 0
Number of Preferred Number of Preferred
Shares Beneficially Shares Beneficially
Owned by Phoenix Owned by PM
Home Life Initially2 Holdings, Inc. Initially2
7. Sole Voting Power 0 1.4 million
8. Shared Voting Power 0 0
9. Sole Dispositive Power 0 1.4 million
10. Shared Dispositive Power 0 0
Number of Preferred Number of Preferred
Shares Beneficially Shares Beneficially
Owned by Phoenix Owned by PM
Home Life Following Holdings, Inc. Following
Return of Capital3 Return of Capital3
7. Sole Voting Power 0 0
8. Shared Voting Power 1.4 million 0
9. Sole Dispositive Power 0 0
10. Shared Dispositive Power 1.4 million 0
- --------
1 Immediately after the merger was effected.
2 Ibid.
-----
3 See the second paragraph of Item 6 below regarding the transfer by PM
Holdings of 100% of the Series A Convertible Exchangeable Preferred
Shares of Phoenix Duff & Phelps Corporation to Phoenix Home Life.
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
Common Stock Preferred Stock
11. Aggregate Amount Beneficially Owned
by Each Reporting Person Initially4
a. Phoenix Home Life 0 0
b. PM Holdings, Inc. 26.4 million 1.4 million
11. Aggregate Amount Beneficially Owned
by Each Reporting Person After Return
of Capital5
a. Phoenix Home Life 0 1.4 million
b. PM Holdings, Inc. 26.4 million 0
12. Check if Aggregate Amount in Row (11) Excludes Certain _____
Shares
Common Stock Preferred Stock
13. Percent of Class Represented by
Amount in Row (11) Initially6
a. Phoenix Home Life 0% 0%
b. PM Holdings, Inc. 60% 45%
13. Percent of Class Represented by
Amount in Row (11) After Return of
Capital7
a. Phoenix Home Life 0% 45%
b. PM Holdings, Inc. 60% 0%
14. Type of Reporting Person
a. Phoenix Home Life - IC, HC
b. PM Holdings, Inc. - OO
- --------
4 See Note 1.
5 See Note 3.
6 See Note 1.
7 See Note 3.
</TABLE>
<PAGE>
Item 1. Security and Issue
Common Stock
Phoenix Duff & Phelps Corporation (formerly Duff & Phelps Corporation)
56 Prospect Street
Hartford, CT 06103
Item 2. Identity and Background
Part I - Phoenix Home Life Mutual Insurance Company
(a) Place of Organization .............................................New York
(b) Principal Business..................Life and health insurance and annuities
(c) Address of Its Principal Business..........................One American Row
Hartford, CT 06102-5056
Address of its Principal Office...........................One American Row
Hartford, CT 06102-5056
(d) Involvement in Certain Criminal Legal
Proceedings............................................................None
(e) Involvement in Certain Civil
Proceedings.............................................See Footnote Below8
Part II - PM Holdings, Inc.
(a) Place of Organization...........................................Connecticut
(b) Principal Business..........................................Holding Company
(c) Address of Its Principal Business..........................One American Row
Hartford, CT 06102-5056
(d) Address of Its Principal Office............................One American Row
Hartford, CT 06102-5056
(e) Involvement in Certain Criminal
Legal Proceedings......................................................None
(f) Involvement in Certain Civil
Proceedings............................................................None
Part III - Directors and Executive Officers
See Exhibit B.
Item 3. Source and Amount of Funds or Other Consideration
Immediately prior to the merger described hereinafter, PM Holdings, Inc. owned
100% of the capital stock of Phoenix Securities Group, Inc. ("PSG"), which stock
had an estimated market value in the $200 million range. Also prior to such
merger, PM Holdings, Inc. made a capital contribution to PSG of $30.7 million.
In the merger transaction (the "Merger"), PM Holdings
- --------
8 In the routine course of business, Phoenix Home Life and its insurance company
subsidiaries undergo examinations by various state insurance departments.
From time to time, some of those examinations result in fines. None of such
fines has been material.
<PAGE>
exchanged all of PSG's capital stock for 26.4 million shares of common stock and
converted a $35 million debt of PSG to it into 1.4 million shares of Series A
convertible exchangeable preferred stock of Duff & Phelps Corporation. In the
Merger, PSG merged with and into Duff & Phelps Corporation, which was the
survivor and whose name was changed to Phoenix Duff & Phelps Corporation. See
Exhibit D under "The Merger Agreement".
PM Holdings, Inc. funded its $30.7 million capital contribution to PSG out of a
combination of working capital and funds borrowed under an existing line of
credit. The banks funding that existing line of credit and the principal terms
of such line are identified in Exhibit C.
Item 4. Purpose of Transaction
The securities of Phoenix Duff & Phelps Corporation were acquired as a result of
the Merger of PSG, PM Holdings' wholly-owned subsidiary, with and into Duff &
Phelps Corporation. The purpose of that Merger, from Phoenix Home Life's
perspective, was to expand the capabilities, size and market of its securities
management operations. See Exhibit D under "Proposal One: Approval of the Merger
Agreement - Reasons for the Merger".
(a) Additional Securities of Issuer: In connection with the Merger, certain key
executives of Duff & Phelps Corporation obtained options pursuant to their
new employment contracts, as more fully described in Exhibit D under
"Certain Related Transactions - Employment Contracts". Also in connection
with the Merger, PM Holdings acquired 1.4 million shares of Series A
convertible exchangeable preferred stock of Phoenix Duff & Phelps
Corporation in exchange for forgiveness of a $35 million loan from PM
Holdings to PSG (see Exhibit D under "The Merger Agreement - Debt
Exchange") and existing shareholders of Duff & Phelps obtained one-tenth of
a share of such preferred stock for each share of common stock they owned
on the dividend record date (see Exhibit D under "The Merger Agreement Cash
Dividend and Stock Dividend").
(b) Extraordinary Transaction: See Item 3 and the introduction to this Item 4.
(c) Transfer of Assets: None.
(d) Change in Board or Management: As a result of the size of its post-merger
ownership position of Phoenix Duff & Phelps common stock, PM Holdings, Inc.
will be able to control the election of the Phoenix Duff & Phelps Board of
Directors. Immediately following the merger, however, the Phoenix Duff &
Phelps directors who were designated by PM Holdings constituted only nine
(9) of the seventeen (17) person Board of Phoenix Duff & Phelps.
Management of Phoenix Duff & Phelps post-merger was expanded to include
certain persons who were key officers of PSG before the Merger (see Exhibit
D under "Operations and Management after the Merger").
(e) Capitalization; Dividend Policy: No immediate changes are contemplated in
Phoenix Duff & Phelps Corporation's dividend policy. To effectuate the
merger: (i) additional shares of common stock were authorized; (ii) the
authorized preferred stock, no par value (none
<PAGE>
of which had theretofore been issued) was changed to shares having a $.01
par value per share, which shares are convertible and exchangeable, and
additional shares were authorized; and (iii) 6% convertible debentures were
authorized. Specifically, the capitalization of the issuer changed as
follows:
<TABLE>
<CAPTION>
Pre-Merger9 Authorized Issued (approximate)
<S> <C> <C>
- --------------------------------------------------------------------------------------------------------------
Common Stock ($.01 par value per share) 30,000,000 17,053,000
- --------------------------------------------------------------------------------------------------------------
Preferred Stock (no par value) 1,000,000 None
- --------------------------------------------------------------------------------------------------------------
Post-Merger Authorized Issued (approximate)
- --------------------------------------------------------------------------------------------------------------
Common Stock ($.01 par value per share) 100,000,000 43,453,000
- --------------------------------------------------------------------------------------------------------------
Series A Convertible Exchangeable 10,000,000 3.1 million
Preferred ($.01 par value per share)
- --------------------------------------------------------------------------------------------------------------
6% Convertible Subordinated Debentures Indeterminate None
- --------------------------------------------------------------------------------------------------------------
</TABLE>
For more details, see Exhibit D under "Description of Capital Stock".
(f) Material Changes in Business or Corporate Structure: None.
(g) Changes in Charter or Bylaws: The Duff & Phelps charter was amended shortly
before the merger in order to authorize changes in the company's
capitalization and at the time of merger in order to change its name. See
Exhibit D under "Proposal Two: Amendment to the Duff & Phelps Restated
Certificate of Incorporation".
(h) Delisting: None.
(i) Eligibility for Termination of Registration: None.
Item 5. Interest in Securities of the Issuer
(a) Ownership: See Items 11 and 13 on the Cover Pages of this Schedule 13(d)
with respect to PM Holdings, Inc. and Phoenix Home Life. No director or
executive officer of either entity currently owns any securities of the
Issuer, although it can be anticipated that one or more officers or
directors of such companies may acquire securities of Phoenix Duff & Phelps
in the future.
(b) Voting Control: See Items 7 through 10 on the Cover Pages of this Schedule
13(d) with respect to PM Holdings, Inc. and Phoenix Home Life. With respect
to their directors and executive officers, since none own shares of Phoenix
Duff & Phelps, none have any kind of voting rights.
(c) Transactions in Issuer's Securities: None.
- --------
9 As of the Record Date.
<PAGE>
d) Right to Receive or Power to Direct Dividends: Inapplicable.
(e) Ceased to be Beneficial Owner: Inapplicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Although there are no contracts between the persons listed in Item 2
or between such persons and any other person with respect to the
securities of Phoenix Duff & Phelps Corporation, by virtue of: (a)
the ownership by Phoenix Home Life of 100% of the capital stock of PM
Holdings, Inc.; and (b) the virtual identity of their senior
management, it can be anticipated that PM Holdings, Inc. will cast
its proxies at Phoenix Duff & Phelps shareholder meetings in a
fashion acceptable to Phoenix Home Life and will only transfer its
securities of Phoenix Duff & Phelps upon terms and at times
acceptable to Phoenix Home Life.
In addition to the foregoing, there was an understanding reached by
the time of merger that PM Holdings, Inc. would transfer all of its
shares of Series A preferred stock to Phoenix Home Life as a return
of capital, which transaction is reflected in this filing.
Item 7. Material Filed as Exhibits
Exhibit A - Agreement to File Joint Acquisition Statement
Exhibit B - Directors and Executive Officers
Exhibit C - Line of Credit
Exhibit D - Form S-4 of Duff & Phelps Corporation filed September 25,
1995 (incorporated herein in its entirety by reference).
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: November 1, 1995 /s/ Carole A. Masters
- ----------------------------------- ---------------------------------------
Carole A. Masters, Counsel
<PAGE>
Exhibit A
AGREEMENT FOR JOINT FILING
The undersigned agree that this Schedule 13D, and all subsequent filings
on Schedule 13D with respect to Phoenix Duff & Phelps Corporation, are filed on
behalf of each of them.
PHOENIX HOME LIFE MUTUAL INSURANCE
COMPANY
Dated: November 1, 1995 By: /s/ Richard H. Booth
- ----------------------------------- ----------------------------
Its: Executive Vice President
----------------------------
PM HOLDINGS, INC.
Dated: November 1, 1995 By: /s/ David W. Searfoss
- ----------------------------------- ----------------------------
Its: Vice President
----------------------------
<PAGE>
<TABLE>
<CAPTION>
Exhibit B to Schedule 13(d)
(Items 2-4)
Re: Phoenix Duff & Phelps Corporation
PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY
DIRECTORS
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Sal H. Alfiero 1003 Admiral's Walk Chairman and CEO None USA
200 Lakefront Boulevard Mark IV Industries, Inc.
Buffalo, NY 14202 501 John James Audubon Parkway
Amherst, NY 14228
- ----------------------------------------------------------------------------------------------------------------------------------
J. Carter Bacot 48 Porter Place Chairman and CEO None USA
Montclair, NJ 07042 The Bank of New York
48 Wall Street, 3rd Floor
New York, NY 10286
- ----------------------------------------------------------------------------------------------------------------------------------
Carol H. Baldi 221 North Street President None USA
Litchfield, CT 06759 Carol H. Baldi, Inc.
420 Lexington Avenue
Suite 2745
New York, NY 10170
- ----------------------------------------------------------------------------------------------------------------------------------
Peter C. Browning 1400 West Carolina Avenue Executive Vice President None USA
Hartsville, SC 29550 Sonoco Products Company
One North Second Street
Hartsville, SC 29550-0160
- ----------------------------------------------------------------------------------------------------------------------------------
Richard N. Cooper 1657 31st Street, N.W., #302 Chairman None USA
Washington, DC 20007 National Intelligence Council
Room 7E62 OHB
Central Intelligence Agency
930 Dolly Madison Boulevard
McLean, VA 22102
- ----------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Gordon J. Davis 241 Central Park West Partner None USA
New York, NY 10024 LeBoeuf, Lamb, Greene & MacRae
125 West 55th Street
New York, NY 10019
- ----------------------------------------------------------------------------------------------------------------------------------
Robert W. Fiondella 29 Summerberry Circle Chairman, Chief Executive
Bristol, CT Officer and President None USA
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Jerry J. Jasinowski 3228 Rittenhouse Street, NW President None USA
Washington, DC 20015 National Association of
Manufacturers
1331 Pennsylvania Avenue, N.W.,
Suite 1500 North
Washington, DC 20004
- ----------------------------------------------------------------------------------------------------------------------------------
John W. Johnstone 467 Carter Street Chairman, President and CEO None USA
New Canaan, CT 06840 Olin Corporation
120 Long Ridge Road
Stamford, CT 06904
- ----------------------------------------------------------------------------------------------------------------------------------
Marilyn E. LaMarche 930 Fifth Avenue, Apt. 10D General Partner None USA
New York, NY 10020 Lazard Freres & Co., LLC
30 Rockefeller Plaza
New York, NY 10020
- ----------------------------------------------------------------------------------------------------------------------------------
Edward P. Lyons 5 Londonderry Drive Retired None USA
Greenwich, CT 06830
- ----------------------------------------------------------------------------------------------------------------------------------
Philip R. McLoughlin 11 Country Club Road Vice Chairman & Chief Executive
West Simsbury, CT Officer 1 None USA
Phoenix Duff & Phelps Corporation
56 Prospect Street
Hartford, CT 06103
- ----------------------------------------------------------------------------------------------------------------------------------
- --------
1 Mr. McLoughlin is also an executive officer of Phoenix Home Life, but spends approximately 75% of his time on Phoenix
Duff & Phelps Corporation matters.
<PAGE>
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Charles J. Paydos 140 Balbrae Drive Executive Vice President None USA
Bloomfield, CT 06002 Phoenix Home Life Mutual
Insurance Company
100 Bright Meadow Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------------------
Herbert Roth, Jr. 134 Lake Street Retired None USA
Sherborn, MA 01770
- ----------------------------------------------------------------------------------------------------------------------------------
Robert F. Vizza, Ph.D. 3 Maria Lane President and CEO None USA
Old Brookville, NY 11545 St. Francis Hospital
Port Washington Boulevard
Roslyn, NY 11576
- ----------------------------------------------------------------------------------------------------------------------------------
Wilson Wilde 5 Dodge Drive Chairman, Executive Committee None USA
West Hartford, CT 06107 Hartford Steam Boiler
Inspection and Insurance Company
One State Street, 20th Floor
Hartford, CT 06102
- ----------------------------------------------------------------------------------------------------------------------------------
Robert G. Wilson Key Colony III, Apt. 1127 Retired None USA
151 Crandon Boulevard
Key Biscayne, FL 33131
- ----------------------------------------------------------------------------------------------------------------------------------
<PAGE>
Exhibit B to Schedule 13(d)
(Items 2-4)
Re: Phoenix Duff & Phelps Corporation
PM HOLDINGS, INC.
DIRECTORS
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Richard H. Booth 60 High Ridge Road Executive Vice President, None USA
Simsbury, CT Strategic Development
Phoenix Home Life Mutual
Insurance Company
One American Row
- ----------------------------------------------------------------------------------------------------------------------------------
Hartford, CT 06102-5056 None USA
Carl T. Chadburn 252 Knollwood Road Senior Vice President,
Manchester,CT Human Resources
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Robert W. Fiondella 29 Summerberry Circle Chairman, President & CEO None USA
Bristol, CT 06010 Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Joan E. Herman 25 Mary Catherine Circle Senior Vice President None USA
Windsor, CT Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Philip R. McLoughlin 11 Country Club Road Executive Vice President, None USA
West Simsbury, CT Investments
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Charles J. Paydos 140 Balbrae Drive Executive Vice President None USA
Bloomfield, CT Phoenix Home Life Mutual
Insurance Company
100 Bright Meadow Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Frederick W. Sawyer, III 8 Sachem Drive Senior Vice President None USA
Glastonbury, CT Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
David W. Searfoss 3 Stratford Road Executive Vice President None USA
Farmington, CT and Chief Financial Officer
Farmington, CT Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Richard C. Shaw 18 South Mill Drive Senior Vice President, None USA
International & Corporate
Development
South Glastonbury, CT
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Dona D. Young 89 Woodford Hill Drive Executive Vice President, None USA
Avon, CT Individual Insurance
and General
Counsel
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
<PAGE>
Exhibit B to Schedule 13(d)
(Items 2-4)
Re: Phoenix Duff & Phelps Corporation
PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY
EXECUTIVE OFFICERS
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Robert W. Fiondella 29 Summerberry Circle Chairman, President & CEO None USA
Bristol, CT 06010 Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Richard H. Booth 60 High Ridge Road Executive Vice President, None USA
Simsbury, CT Strategic Development
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Philip R. McLoughlin 11 Country Club Road Executive Vice President,
West Simsbury, CT Investments1 None USA
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Charles J. Paydos 140 Balbrae Drive Executive Vice President None USA
Bloomfield, CT Phoenix Home Life Mutual
Insurance Company
100 Bright Meadow Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------------------
- --------
1 This is a secondary position. He is employed by Phoenix Duff & Phelps Corporation,
to which he devotes approximately 75% of his time, with his remaining work hours
being applied to his role as an officer and Director of Phoenix Home Life and
certain of its subsidiaries.
<PAGE>
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
David W. Searfoss 3 Stratford Road Executive Vice President NONE USA
Farmington, CT and Chief Financial Officer
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Dona D. Young 89 Woodford Hill Drive Executive Vice President, NONE USA
Avon, CT Individual Insurance and
General Counsel
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Kelly J. Carlson 43 Woodchuck Hill Senior Vice President, NONE USA
West Simsbury, CT Career Organization
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Carl T. Chadburn 252 Knollwood Road Senior Vice President, NONE USA
Manchester, CT Human Resources
Phoenix Home Life Mutual
Insurance Company
100 Bright Meadow Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------------------
Robert G. Chipkin 230 Fair Hill Lane Senior Vice President and NONE USA
Suffield, CT Corporate Actuary
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Randall C. Giangiulio 63 Hildurcrest Drive Senior Vice President, NONE USA
Simsbury, CT Group Sales
Phoenix Home Life Mutual
Insurance Company
100 Bright Meadow Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------------------
Joan E. Herman 25 Mary Catherine Circle Senior Vice President NONE USA
Windsor, CT Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Edward P. Hourihan, Sr. 100 Windham Road Senior Vice President, NONE USA
Willimantic, CT Information Systems
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Joseph E. Kelleher 38 Wyngate Senior Vice President NONE USA
Simsbury, CT Phoenix Home Life Mutual
Insurance Company
100 Bright Meadow
Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------------------
Gary J. Laughinghouse 15 Williamsburg Lane Senior Vice President NONE USA
Longmeadow, MA Phoenix Home Life Mutual
Insurance Company
100 Bright Meadow
Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------------------
Robert G. Lautensack, Jr. 21 Stillwood Chase Senior Vice President NONE USA
Simsbury, CT Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Scott C. Noble 15 Apple Hill Road Senior Vice President,
Wilbraham, MA Real Estate NONE USA
Wilbraham, MA Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Frederick W. Sawyer, III 8 Sachem Drive Senior Vice President NONE USA
Glastonbury, CT Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Richard C. Shaw 18 South Mill Drive Senior Vice President, NONE USA
South Glastonbury, CT International & Corporate
Development None
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Yeh-Cheng Tan 169 Weir Street Senior Vice President, NONE USA
(aka Simon Tan) Glastonbury, CT Individual Market Development
Phoenix Home Life Mutual
Insurance Company
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
<PAGE>
Exhibit B to Schedule 13(d)
(Items 2-4)
Re: Phoenix Duff & Phelps Corporation
PM HOLDINGS, INC.
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Robert W. Fiondella 29 Summerberry Circle President None USA
Bristol, CT 06010 PM Holdings, Inc.
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------
Carl T. Chadburn 252 Knollwood Road Vice President None USA
Manchester, CT PM Holdings, Inc.
100 Bright Meadow Boulevard
Enfield, CT 06083-1900
- ----------------------------------------------------------------------------------------------------------------------
Joan E. Herman 25 Mary Catherine Circle Vice President None USA
Windsor, CT PM Holdings, Inc.
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------
Philip R. McLoughlin 11 Country Club Road Vice President None USA
West Simsbury, CT PM Holdings, Inc.
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------
Charles J. Paydos 140 Balbrae Drive Vice President None USA
Bloomfield, CT PM Holdings, Inc.
100 Bright Meadow Boulevard
Enfield, CT 06083-1900
- -----------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
Principal Occupation and Criminal
Name Home Address Business Address Convictions Citizenship
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
rederick W. Sawyer, III Sachem Drive Vice President NONE USA
Glastonbury, CT PM Holdings, Inc.
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
David W. Searfoss 3 Stratford Road Vice President and Treasurer NONE USA
Farmington, CT PM Holdings, Inc.
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Richard C. Shaw 18 South Mill Drive Vice President NONE USA
South Glastonbury, CT PM Holdings, Inc.
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
Dona D. Young 89 Woodford Hill Drive Vice President NONE USA
Avon, CT PM Holdings, Inc.
One American Row
Hartford, CT 06102-5056
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Exhibit C
LINE OF CREDIT
A. Participating Banks
Bank of Montreal, acting as agent
The Bank of New York
Chemical Bank
Fleet Bank, N.A.
Nations Bank
Shawmut Bank
State Street Bank
B. Terms
Loan Type: Revolving Credit
Date of Draw Down: October 31, 1995
Available Credit: $125 million
Amount of 10/31/95 Draw Down: $15 million
Maximum Term under Credit Line: 2 3/4 years
Initial Term for 10/31/95 Draw Down: to November 16, 1995
Interest Option: LIBOR plus 35 basis points
Interest Period: to November 16, 1995
Interest Payable: At end of interest period
Security: Phoenix Home Life Guarantee
Prepayments: Allowed in minimum amounts
of $10 million
