  Using the $1.9 pb^{-1}$ of data collected with the CMD-2 detector at VEPP-2M
the decay mode $\phi \to \eta \gamma$, $\eta \to \pi^+\pi^-\pi^0$ has been
studied. The obtained branching ratio is B($\phi \to \eta \gamma) = (1.18 \pm
0.03 \pm 0.06) %$.
