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PRESS RELEASES FOR 1999

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12/27/1999 S&P Raises Ratings For Equitable Life Companies.
   
11/18/1999 AXA Financial, Inc. Declares Regular Quarterly Dividend.
   
11/03/1999 AXA Financial's Quarterly Operating EPS Rose 74%
Nine Month EPS Results Surpass Record Full Year 1998.
   
10/12/1999 DLJ Third Quarter Net Rebounds Fourfold To $122.2 Million, On Fivefold Rise In EPS TO $0.85 Per Share.
   
10/12/1999 DLJdirect Third Quarter Revenue Up 82% To $54.9 Million.
   
09/21/1999 AXA Financial launched a new brand - AXA Advisors, LLC - to represent the broad range of financial products and services offered through its nationwide distribution network of financial professionals.
   
09/16/1999 AXA Financial, Inc. Announces Two-for-One Common Stock Split; Equitable Life Approves Payment of Dividend to AXA Financial, Inc.
   
09/03/1999 AXA Financial, Inc. is the new name for The Equitable Companies Incorporated - the holding company name for The Equitable Life Assurance Society of the U.S., Alliance Capital Management L.P. and Donaldson, Lufkin & Jenrette, Inc.
   
08/10/1999 Equitable Distributors, Inc. (EDI), a wholly owned subsidiary of Equitable Life (Equitable) announces the expansion of their Life Insurance Division with the addition of four new Divisional Vice Presidents.
   
08/03/1999 Equitable Companies Report Record Second Quarter Results.
   
07/29/1999 AXA and ESPN Announce Merchandising Agreement For The AXA East-West Showdown.
   
05/19/1999 The Shareholders of The Equitable Companies Incorporated approved changing the name of the company to AXA Financial, Inc. at their annual meeting on May 19, 1999.
   
05/06/1999 1999 1st Quarter Earnings.
   
03/26/1999 Peter J. Tobin Named to Board of Directors.
   
02/18/1999 Regular Quarterly Dividend Declared.
   
02/09/1999 1998 Year-end Earnings.


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