PRESS RELEASE

U.S. News & World Report Joins With AXA To Extend Its
Education Franchise With $670,000 In Scholarships
In Its Best Colleges Issue And Guide

The AXA Foundation, In Association with U.S. News, Offers AXA Achievement^sm Scholarship: the Largest Scholarship Ever Offered in the College Rankings Issue

New York, NY – Building on its renowned education franchise anchored by its rankings of “Best Colleges” and “Best Graduate Schools”, U.S. News & World Report has announced a continuation of its alliance with AXA Foundation, the philanthropic arm of AXA Financial, Inc., to offer the largest scholarship program in the history of the newsmagazine.  This is the third year of AXA’s scholarship program in conjunction with U.S. News.

AXA Achievement^sm Scholarship will award $670,000 in annual scholarships to students throughout the nation.  Details of the program will be included in both the magazine’s America’s Best Colleges issue as well as U.S. News & World Report’s America’s Best Colleges Guide 2005, both of which contain the most highly anticipated college rankings and will be on newsstands August 23rd.

“Through our education franchise, including America’s Best Colleges, U.S. News informs parents and students as they pick the college of their choice,” said Brian Kelly, Executive Editor of U.S. News.   “We continue to extend our longtime commitment to America’s youth and to the advancement of their education through our association with AXA.”

Through AXA Achievement^sm Scholarship, 52 students - one from each state, plus the District of Columbia and Puerto Rico - will be selected to receive one-time scholarship awards of $10,000 each; 10 students will be selected as national winners from the pool of 52, earning an additional scholarship of $15,000, the opportunity for an internship at AXA’s offices and a new computer. Qualified candidates will have demonstrated that they have achieved outside the classroom, have ambition and dedication to succeed, the ability to succeed in a college environment and respect for self, family and community.  The scholarship application is available for download on www.axa-achievement.comand must be postmarked no later than December 15, 2004, to be considered for an award this year.

“It is clear to me that the ideal place to direct AXA's philanthropic resources is in providing the advice students and their families need to financially prepare for college, as well as scholarships that help students bridge the gap between the cost of college and what families can provide,” said Christopher M. “Kip” Condron, President and CEO of AXA Financial.  “We are proud of our partnership with U.S. News in which we can help students reach for and attain the future they have chosen.”

In addition to appearing in America’s Best Colleges, the scholarship will subsequently be featured in the U.S. News’ Paying For College issue (August 30), in the College Funding issue next spring where winners will be announced, and online at www.usnews.comin the education section.  The scholarship is administered by Scholarship Management Servicesä, a program of Scholarship America^sm, the nation's largest nonprofit private sector scholarship and educational support organization.

The AXA Foundation is the philanthropic arm of AXA Financial, Inc., one of the world's premier financial services organizations and a member of the global AXA Group, a leader in financial protection and wealth management. The AXA Foundation directs the company's philanthropic and volunteer activities, working to improve the quality of life in communities across the country where AXA has a presence. Since it was established in 1987, the AXA Foundation has awarded grants totaling more than $80 million.  The AXA Achievement Scholarship^sm, in association with U.S. News & World Report, is a primary program element of AXA Achievement, which provides the advice and access for youth to help them succeed in college and beyond. For more information and to read about the 2004AXA Achievers, visit www.axaonline.com/axafoundation.

Founded in 1933, the weekly national newsmagazine U.S. News & World Report is devoted to investigative journalism and reporting and to analyzing national and international affairs, politics, business, health, science, technology and social trends. Through its annual rankings of America's Best Colleges, Best Graduate Schools and America's Best Hospitals, and its News You Can Useâbrand, U.S. News has earned a reputation as the leading provider of service news and information that improves the quality of life of its readers. Available online at www.usnews.com, U.S. News, for the second time in a row, was named the most credible newsweekly by the Pew Biennial News Consumption Survey, and, this year, the most credible news organization in print.