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New York, NY - AXA Financial, Inc. (NYSE: AXF) announced today at its board meeting that it had approved
a two-for-one common stock split in the form of a 100% stock dividend. The split will provide shareholders
of record as of the close of business on September 27, 1999 one share of AXF common stock for
each share owned. Distribution of the shares will be made in the form of a 100% stock dividend that
will be made on October 1, 1999. Shares are expected to trade on a split basis on October 4, 1999.
The company also announced approval by the insurance company for payment of its first dividend to the
holding company of $150 million.
On September 3, 1999, The Equitable Companies Incorporated changed its name to AXA Financial, Inc. to better
reflect the broad-based financial services company it has become and to benefit from the global AXA
brand. As with its Equitable Companies predecessor, AXA Financial is the holding company for The Equitable
Life Assurance Society, Alliance Capital and Donaldson, Lufkin & Jenrette. AXA Financial is
a member of the global AXA Group, which has operations in more than 60 countries and assets under
management of approximately $655 billion as of December 31, 1998.
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