An exact density matrix of a phase-damped Jaynes - Cummings model (JCM) with entangled Bell-like initial states formed from a model two-state atom and sets of adjacent photon number states of a single mode radiation field is presented. The entanglement of the initial states and the subsequent time evolution is assured by finding a positive lower bound on the concurrence of local 2x2 projections of the full 2xinfinity JCM density matrix. It is found that the time evolution of the lower bound of the concurrence systematically captures the corresponding collapse and revival features in atomic inversion, relative entropies of atomic and radiation, mutual entropy, and quantum deficit. The atom and radiation subsystems exhibit alternating sets of collapses and revivals in a complementary fashion due to the initially mixed states of the atom and radiation employed here. This is in contrast with the result obtained when the initial state of the dissipationless system is a factored pure state of atom and radiation, where the atomic and radiation entropies are necessarily the same. The magnitudes of the entanglement lower bound and the atomic and radiation revivals become larger as both magnitude and phase of the Bell-like initial state contribution increases. The time evolution of the entropy difference of the total system and that of the radiation subsystem exhibits negative regions called "supercorrelated" states which do not appear in the atomic subsystem. Entangled initial states are found to enhance this supercorrelated feature. Finally, the effect of phase damping is to randomize both the subsystems for asymptotically long times .
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