AXA has Completed the Sale of Part of its UK Life & Savings Operations

PARIS, Sept. 15 /PRNewswire/ -- AXA announced today that it has successfully completed the sale to Resolution Ltd of its UK-based traditional life and pensions businesses, its IFA protection and corporate pension businesses, and its annuity businesses for a consideration of 2.75 billion pounds Sterling (or ca. Euro 3.3 billion).

Net cash proceeds amount to Euro 1.7 billion for the AXA Group.

"We are pleased to have completed this transaction expeditiously", said Denis Duverne, deputy CEO of AXA. "This transaction is instrumental in our strategy of further optimizing capital allocation within the Group while focusing our operations on the higher margin and higher growth segments of the UK life and savings market."

About AXA

AXA Group is a worldwide leader in insurance and asset management, with 216.000 employees serving 96 million clients in 57 counties. For 1H10, IFRS revenues amounted to Euro 49.9 billion and IFRS underlying earnings to Euro 2.1 billion.

AXA had Euro 1,089 billion in assets under management as of June 30, 2010.

The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA's American Depository Shares are also quoted on the OTC QX platform under the ticker symbol AXAHY.

The Group is included in the three main international SRI indexes: Dow Jones Sustainability Index (DJSI), FTSE4GOOD and Advanced Sustainability Performance Indices (Aspi Eurozone).

This press release is available on the AXA Group website: www.axa.com

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 statement because, by their nature, they are subject to known and unknown risks and uncertainties. Please refer to the section "Cautionary statements" in page 2 of AXA's Document de Reference for the year ended December 31, 2009, for a description of certain important factors, risk and uncertainties that may affect AXA's business. 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.

SOURCE AXA

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