AXA: Non Material Equity Exposure to Lehman Brothers and AIG
September 16 2008 - 10:29AM
PR Newswire (US)
PARIS, Sept. 16 /PRNewswire-FirstCall/ -- AXA (NYSE:AXA) confirmed
today that it has a non material equity exposure to Lehman Brothers
and American International Group ("AIG"): -- The Group holds a
proprietary equity interest in Lehman Brothers of approximately
0.05% of Lehman Brothers' total outstanding common shares (1). The
Group's credit exposure to Lehman Brothers (including credit
default swaps) net of policyholders' participation and net of tax
is approximately Euro 300 million. -- The Group holds a proprietary
equity interest in AIG of approximately 0.02% of AIG's total
outstanding common shares (1). The Group's credit exposure to AIG
(including credit default swaps) net of policyholders'
participation and net of tax is approximately Euro 150 million. (1)
Recent press reports citing larger AXA holdings of Lehman and AIG
common stock refer to assets held in 3rd party client accounts
managed principally by AXA's 63% owned asset management subsidiary
AllianceBernstein which are not proprietary assets of the AXA
Group. 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 2007, IFRS revenues amounted to Euro 93.6 billion and
IFRS adjusted earnings to Euro 6.1 billion. 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. This press release is available on the
AXA Group website: http://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 predications 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, 2007,
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 Group
CONTACT: AXA Investor Relations: Etienne Bouas-Laurent,
+33-1-40-75-46-85, or Paul-Antoine Cristofari, +33-1-40-75-73-60,
or Emmanuel Touzeau, +33-1-40-75-49-05, or George Guerrero,
+1-212-314-2868; or AXA Media Relations: Christophe Dufraux,
+33-1-40-75-46-74, or Laurent Secheret, +33-1-40-75-48-17, or
Armelle Vercken, +33-1-40-75-46-42, or Mary Taylor,
+1-212-314-5845; or AXA Individual Shareholder Relations:
+33-1-40-75-48-43 Web site: http://www.axa-equitable.com/
http://www.axa.com/
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