PRESS RELEASE

Ameritrade CEO Joe Moglia Joins AXA Financial Boards

New York, N.Y. – AXA Financial, Inc., announced today that Joe Moglia, Chief Executive Officer of Ameritrade Holding Corporation, has been elected to the Boards of Directors of AXA Financial, Inc., and of its subsidiary, The Equitable Life Assurance Society of the U.S.

The announcement was made today by Christopher M. "Kip" Condron, President and CEO of AXA Financial, Inc.

In making the announcement, Mr. Condron said, "Joe Moglia has a distinguished track record that includes many achievements both inside and outside of the financial services industry. We look forward to his valuable insights and benefiting from his experience, and are extremely delighted to welcome him to our boards."

Mr. Moglia joined Ameritrade as CEO in March 2001. Ameritrade (Nasdaq:AMTD) is a leading broker with a 27-year history of providing a self-directed approach to investment services tailored to meet the varying needs of individual investors, financial institutions and corporations.

Earlier, since 1984, Mr. Moglia was with Merrill Lynch, where he became its leading institutional sales person. He subsequently headed the firm’s Global Fixed Income Institutional Sales, and later its Municipal Division before moving to the Private Client Division in 1997. For Private Client, he served as Senior Vice President and head of the Investment Performance and Product Group, overseeing all investment products as well as Merrill’s insurance and 401(k) businesses.

Before entering financial services, Mr. Moglia was the defensive coordinator for Dartmouth College’s football team and coached various teams over a 16-year span. He also became an author of a book and published 11 articles in national coaching journals.

Mr. Moglia received a Master’s degree from the University of Delaware and a Bachelor’s degree from Fordham University.

About AXA Financial

AXA Financial, Inc., with approximately $441 billion in assets under management as of June 30, 2002, is one of the world's premier financial services organizations through its strong brands: The Equitable Life Assurance Society of the U.S., AXA Advisors, LLC, Alliance Capital Management L.P., Sanford C. Bernstein & Co., and its premier wholesale distribution organization, AXA Distributors, LLC. AXA Financial is a member of the global AXA Group, 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 region. AXA had $792 billion in assets under management as of June 30, 2002 and reported revenues of approximately $36 billion for six months ending June 30, 2002. 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.