The High Elf Prince warscroll has me confused.

Specifically, the option of taking the "Phoenix Banner" has me confused:

A High Elf Prince is a single model.
Some Princes are armed with a magical Starblade, while others wield a larger Enchanted Polearm, such as a halberd
or a spear. If riding to war, a Prince may instead slay his foes with a mighty Star Lance. Many High Elf Princes fight with an Enchanted Shield for protection, while others prefer instead to carry a magical Reaver Bow to shoot their foes from afar. Occasionally, a Prince will have the honour of carrying a Phoenix Banner.

How do I read this? Is this in addition to the other options, or does it replace it? If I play WYSIWYG, my model has the standard, a shield, and so cannot attack. Although if I read it as being addition, it is possible he has a sword, shield & banner.

Curiously, the Dark Elf version for example specifies that the banner is being attached to the steed while the model is using both hands to attack. Thoughts?