Update on Proposal to AXA APH Committee of Independent Directors

PARIS, Dec. 16  /PRNewswire-FirstCall/ -- AXA takes note of the offer made by National Australia Bank Limited (NAB) to the AXA APH committee of independent directors and of the committee's rejection of the revised proposal put forward by AMP and AXA on December 12th.

AXA will review the situation, in light notably of the exclusivity agreement between AMP and AXA.

AXA and its advisors have had no contact or discussions with the National Australia Bank regarding their proposal.

About AXA

AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area. For full year 2008, IFRS revenues amounted to Euro 91.2 billion and IFRS underlying earnings to Euro 4.0 billion. AXA had Euro 981 billion in assets under management as of December 31, 2008.

The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISIN FR0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). The American Depository Share is also listed on the NYSE under the ticker symbol AXA.

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties.  Please refer to AXA's Annual Report on Form 20-F and AXA's Document de Reference for the year ended December 31, 2008, for a description of certain important factors, risks and uncertainties that may affect AXA's business.  In particular, please refer to the section "Special Note Regarding Forward-Looking Statements" in AXA's Annual Report on Form 20-F.  AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise. 

DATASOURCE: AXA



CONTACT:  AXA Investor Relations: Etienne Bouas-Laurent,

+33.1.40.75.46.85, Gilbert Chahine, +33.1.40.75.56.07, Paul-Antoine

Cristofari, +33.1.40.75.73.60, Sylvie Gleises, +33.1.40.75.49.05, George

Guerrero, [phone], or AXA Media Relations: Christophe Dufraux,

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+33.1.40.75.48.17, Armelle Vercken, +33.1.40.75.46.42



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