phpList requires PHP version 5.4.0 or higher

I am experiencing a strange error.

If I use the standard configuration file with the standard .htaccess file in root directory i can sign in but get
phpList requires PHP version 5.4.0 or higher.

If i change the .htaccess file and add above DirectoryIndex index.php

AddHandler custom-php .php .pcgi .php .inc .php~ .php~ .inc~ .html~
Action custom-php /cgi-sys/php5.5

DirectoryIndex index.php

I end up with the following error

Cannot connect to Database, please check your configuration

Can anyone shed some light on this and how to resolve the issue and use php5.5

Thanks in advance

You need to update your php settings on your webspace control panel. If you do not have the rights, or PHP5.5 is not showing on your cpanel, then you’ll need to contact your host and request they up the php version to a minimum of 5.5