Extension of AXA APH Proposal

PARIS, July 18 /PRNewswire-FirstCall/ -- AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) have agreed to extend the period for NAB to satisfy the concerns raised by the Australian Competition and Consumer Commission (ACCC) until the end of the day on August 31, 2010.

On April 19, 2010 the ACCC announced that it would object to the proposed transaction whereby NAB would acquire 100% of AXA APH, retain the Australian and New Zealand businesses of AXA APH and sell to AXA 100% of the Asian businesses of AXA APH.

AXA understands that NAB continues to pursue its options in relation to the ACCC objections.

AXA, AXA APH and NAB have agreed the payment of an interim dividend to AXA APH shareholders of up to 9.25 cents (AUD) per share to be determined by the directors of AXA APH. The parties have also extended the end date for shareholder and court approval for the proposed transaction from October 31, 2010 to January 31, 2011.  

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 2009, IFRS revenues amounted to Euro 90.1 billion and IFRS underlying earnings to Euro 3.9 billion. AXA had Euro 1,015 billion in assets under management as of December 31, 2009.

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). AXA's American Depository Shares are also quoted on the OTC QX platform under the ticker symbol AXAHY.

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 statements 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, risks 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 Group