PRESS RELEASE

AXA Advisors Brokerage Statements Receives
High Marks From Dalbar

New York, N.Y. – AXA Advisors, LLC – a leading provider of financial services for consumers and businesses and wholly-owned subsidiary of AXA Financial, Inc. – earns a "very good" designation from DALBAR for its newly designed brokerage and multi-product statements. DALBAR ranks statements that meet the needs of consumers while minimizing costs and maximizing effectiveness and efficiency.

DALBAR’s "very good" designation is presented to brokerage firms that have designed streamlined statements to include the most critical content and features; ease of navigation; support of the financial professional’s business; and a feature allowing brokers to work closely with clients to design a customized statement. The AXA Advisors statement was compared to the rankings in DALBAR’s Investment Statement Analysis 2001 and is ranked at #2 for the industry.

DALBAR, the nation’s leading financial-services research firm, is committed to raising the standards of excellence in the financial services industry. With offices in both the U.S. and Canada, DALBAR develops standards for, and provides research, ratings, and rankings of intangible factors to the mutual fund, broker/dealer, discount brokerage, life insurance, and banking industries. They include investor behavior, customer satisfaction, service quality, communications, Internet services, and financial professional ratings.

Financial products and services available to individuals and small businesses through AXA Advisors, LLC include: financial, retirement, and estate planning; asset allocation; annuities; life insurance; mutual funds; securities products and services. Insurance and annuity products of Equitable and of over 100 other companies are available through AXA Network, LLC, an insurance brokerage affiliate.

AXA Advisors, LLC is a leading provider of financial services for consumers and businesses, working with clients to help them define and meet their financial goals. AXA Advisors, LLC is a subsidiary of AXA Financial, Inc., whose affiliates and subsidiaries include The Equitable Life Assurance Society of the United States; Alliance Capital Management L.P.; Sanford C. Bernstein; and its premier wholesale distribution organization, Equitable Distributors. AXA Financial is a member of the global AXA Group, which had approximately $803 billion in assets under management as of 6/30/01 and operations in approximately 50 countries. 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.