FREQUENTLY ASKED QUESTIONS

1. When did the company's name change from The Equitable Companies Inc. to AXA Financial, Inc.?
   The company officially changed its name to AXA Financial, Inc. on September 3, 1999. We changed our name to more accurately communicate our broad strengths and capabilities in financial services. In recent years, in responding to the needs of the marketplace, we've been gradually evolving into a full financial services company. We provide a broad array of financial services and products that include life insurance and annuities, an asset management account, wrap fee products and fee-based financial planning. We also offer non-proprietary life, annuity and mutual fund products, and asset management, investment banking and brokerage services. As AXA Financial, we can better portray the broad scope of our capabilities to the investment and financial community and more effectively achieve our goal of meeting the changing and growing financial needs of our clients.

2. How old is AXA Equitable Life Insurance Company?
   AXA Equitable Life Insurance Company was founded in 1859 and is a provider of our innovative insurance and annuity products. AXA Equitable brand is a vital part of AXA Financial's operations.

3. How is AXA Financial organized?
   AXA Financial, Inc. is the new name of our holding company. AXA Equitable Life Insurance Company of the U.S. is a wholly-owned subsidiary of AXA Financial, Inc., and is a provider of insurance and annuity products designed to help meet client needs and changing life situations. AXA Advisors, LLC, is a wholly-owned subsidiary of AXA Financial, Inc. Through its national distribution network of more than 7,500 financial professionals, AXA Advisors works with clients to help them define their short and long term financial goals. In addition, AXA Advisors provides access to an extensive portfolio of products and services from some of the world's leading financial companies, including AXA Financial subsidiaries - AXA Equitable Life Insurance Company of the U.S., Alliance Capital Management L.P., and Sanford C. Bernstein, Inc. - and more than 100 other unaffiliated companies through AXA Network, LLC, an insurance-brokerage affiliate.

4. Why did AXA Financial sell Donaldson, Lufkin & Jenrette to Credit Suisse First Boston?
   The sale of Donaldson, Lufkin & Jenrette to Credit Suisse First Boston strengthens AXA Financial's balance sheet and gives AXA Group resources and flexibility to pursue strategic U.S. acquisitions that will mesh with AXA Financial's core businesses. AXA Group can now use its stock as an effective currency in the U.S. to make an acquisition.

5. What is AXA Financial's unique competitive advantage?
   Our unique competitive advantage is our integrated structure: a distribution operation (AXA Advisors and AXA Equitable Distributors, Inc.), a servicing operation (technology) and a product provider (AXA Equitable Life Insurance Company of the U.S.). In addition, Alliance Capital provides us with unique access to expanded capabilities and synergies.

6. Why did AXA Group buy back AXA Financial's common stock?
   As one of the world's largest markets for financial protection and wealth accumulation products and services, the United States is one of AXA's principal markets - a market of strategic importance. AXA believes the acquisition of the publicly held shares of AXA Financial common stock will:

   • Strengthen its position in its core businesses of insurance and asset management.
   • Enhance AXA's presence in the U.S. market and increase its investment in U.S. life insurance and asset management activities.
   • Enable AXA to develop more fully the potential synergies between AXA Financial and other companies within AXA Group, and achieve a more consistent organization among AXA's various businesses worldwide.
   • Facilitate future acquisitions by AXA in the United States by increasing the liquidity of the trading market in AXA ADRs listed on the New York Stock Exchange and making the ADRs a more effective acquisition currency.

7. What is an AXA ADR?
   An AXA ADR (American Depositary Receipt) represents one-half of an AXA Group ordinary share. AXA ADR is valued in U.S. dollars and traded on the New York Stock Exchange. ADRs are sometimes referred to as American Depositary Shares (ADSs).

8. How can I learn more about the Global AXA Group?
   Visit the AXA Group's website at www.axa.com.