PRESS RELEASE

For Immediate Release - 11/13/2001

AXA CONSOLIDATED REVENUES UP 2.5 % ON A COMPARABLE BASIS IN THE FIRST 9 MONTHS OF 2001

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• Life and Savings revenues, 63% of consolidated revenues, were Euro 35,136 million ($31.4 Billion) down 0.4% compared with first nine months of 2000, in a difficult 2001 environment
• Property and Casualty revenues, which represent 22% of consolidated revenues, were Euro 12,348 million ($11.02 Billion) up 3.2% from the comparable period a year ago
• Asset Management revenues, which represent 5% of consolidated revenues, were Euro 2,801 million ($2.5 Billion) down 1.5% compared with a year ago
• International Insurance revenues, 8% of consolidated revenues, were up 34.6% to Euro 4,404 million ($3.93 Billion)

Growth rates are based on adjusted numbers to provide comparability in scope, accounting standards and currency.

PARIS—AXA reported today that consolidated revenues for the first nine months of 2001 rose 2.5% to Euro 55,539 million ($49.6 Billion) compared with the year-earlier period.

"Conditions worsened for the sale of equity-linked products, the main source of growth in recent years, during the third quarter, accentuated by the tragic WTC events," said AXA CEO Henri de Castries.

"However, the Group is responding with new fixed savings product introductions, which have spurred strong growth in Belgium and the UK, and are getting a positive response so far in the 4^th quarter in the US. This continued product expansion, along with our geographic and business line diversification, as well as continued rate increases in P&C and Reinsurance, is providing us the ability to achieve revenue growth in a very difficult environment. This environment is creating greater demand by our clients for financial advice and protection products, validating the Group’s strategy."

LIFE AND SAVINGS: 63% of consolidated revenues

Life and savings revenues were Euro 35,136 million, down 0.4% compared with the same period in 2000.

• Strong sales growth across all lines of business boosts UK revenues
• Strategy to focus on Individual Life in Japan proceeding well, as Individual Life revenues rise 5%
• General account products for individuals lift Belgium revenues by 65%
• Revenues in the US and France decline on lower unit-linked sales

About AXA

AXA Group is a worldwide leader in financial protection and wealth management. AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. AXA had Euro 950 billion in assets under management as of June 30, 2001 and reported revenues of approximately Euro 80 billion for the full year 2000 (Euro 56 billion for the first nine months of 2001). The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depositary Share is also listed on the NYSE under the ticker symbol AXA.

This press release is also available on AXA Group web site: www.axa.com