PARIS, Feb. 28 /PRNewswire-FirstCall/ -- The AXA Supervisory Board -- chaired by Claude Bebear -- met on February 27, 2008 to review AXA's 2007 financial statements prepared by the Management Board and the resolutions to be submitted to the vote of shareholders during the next AXA shareholders' meeting scheduled for April 22, 2008. At this meeting Claude Bebear confirmed his decision not to seek the renewal of his mandate as a member of the Supervisory Board upon expiration of his mandate on April 22, 2008. "I had announced that I would give up the operating management of AXA upon turning 65, which I did in 2000. I have always encouraged the practice, according to which the mandate of a Board member over 70 shall not be renewed. This practice now applies to me and I will hence leave the Board. The AXA Supervisory Board now enjoys the varied talents and worldwide experience of many quality people. I am convinced that Jacques de Chateauvieux whose values and human qualities I much appreciate -- and whose professional life, beyond his business success, has led him to develop his company all over the world -- has the skills to chair the debates of the AXA Supervisory Board and continue the constructive relationship the Supervisory Board has developed with the Management Board to ensure the development of the Group," said Claude Bebear. The appointments of Jacques de Chateauvieux as Chairman of the AXA Supervisory Board and of Claude Bebear as Honorary Chairman will be submitted for approval by the Supervisory Board at its meeting taking place after the April 22, 2008 shareholders' meeting. Accordingly and upon recommendation by the selection committee the Supervisory Board appointed Jacques de Chateauvieux as vice-chairman of the Supervisory Board. A resolution will be submitted to the vote of the shareholders to appoint Francois Martineau as a new member of the Supervisory Board at the seat left vacant by Claude Bebear. Finally, in advance of the replacement of Jacques Tabourot, member of the Supervisory Board representing the employee shareholders of the AXA Group and whose mandate is expiring, the Supervisory Board and the Management Board decided to support the candidacy of Wendy Cooper, an AXA Equitable employee in the United States among all the candidates who will be submitted to the vote of the shareholders' meeting on April 22, 2008. The Supervisory Board -- joined by the Management Board of AXA -- unanimously expressed its deepest gratitude to Claude Bebear for his contribution to the construction and development of AXA over the past four decades, turning AXA into a world leader in Financial Protection. In 1975, 16 years after starting his career at Anciennes Mutuelles, Claude Bebear takes over the management of a company then renamed Mutuelles Unies whose reach is mostly regional and which is active in property & casualty insurance. Through a series of audacious takeovers (groupe Drouot, Providence, Compagnie du Midi) in France first and then abroad, he will turn AXA into a French leading insurance company and then into top global player: From 1990 with the American adventure and the acquisition in 1992 of Equitable to Asia- Pacific with Melbourne-based National Mutual before doubling the size of AXA with the takeover of UAP in 1996. From revenues of Euro 150 millions in 1980, Claude Bebear will grow the company to Euro 75 billion 20 years later and Euro 94 billion in 2007. AXA which business is 2/3 life insurance ranks among the world's four largest asset managers with close to Euro 1,300 billion of assets under management and 120,000 employees serving 65 millions customers in 50 countries. Jacques de Chateauvieux -. short biography: Born in 1951, Jacques de Chateauvieux graduated from the Institut Superieur de Gestion (ISG) in Paris and earned a Master in Business Administration from Columbia University (USA). At the age of 28, he left the Boston Consulting Group (BCG) and became Chief Executive Officer of the Reunion Island based company Sucreries de Bourbon. From 1989 to 2001, he turned BOURBON into an international conglomerate and then floated it on the Paris Stock Exchange in 1998. From 2001, he set about a refocusing strategy which would make BOURBON a world leader in offshore oil and gas marine services. In 2008, BOURBON employs over 4,300 professionals in more than 25 countries and owns a fleet of around 250 vessels. In addition to a 24% stake in BOURBON, Jacques de Chateauvieux has built up -- through his personal holding company, JACCAR, founded in 1980 -- a diversified portfolio of equity interests notably including the biggest private shipbuilding group in China, a fund management activity in Vietnam, property developments in the region, and a real estate activity in Reunion Island. Jacques de Chateauvieux has been a member of the Supervisory Board of AXA since 2005 Francois Martineau -- short biography: Born in 1951, Francois Martineau has been a lawyer at the Paris bar since 1976. His main professional focus is business law. He is the author of numerous books, some translated in many languages > (Dalloz ; 2004-2006). Francois Martineau is advisor to the Council of Europe and teaches the theory of argumentation in France at the Bar Training School and abroad. Education: University of Paris, degree in philosophy (1971) and a master in law (1973). He also holds a degree of Institut Politique (1973). Wendy Cooper -. short biography: Born in 1950, Wendy Cooper is Senior Vice President & Associate General Counsel AXA Equitable (US). Graduate of the Fordham Law School of New York, she firstly spent more than 13 years in NYS Government, successively as Assistant Counsel to NY Governors (1981-1987) and as First Deputy Superintendent of Insurance of the NY Insurance Department (1987-1995). She also served as Acting Superintendent of Insurance (from January to June, 1990). Wendy Cooper then joined The Equitable, predecessor of AXA Equitable, as Vice President & Associate General Counsel. This press release is available on the AXA Group web site http://www.axa.com/ 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. Full year 2007 IFRS revenues amounted to Euro 94 billion and adjusted earnings to Euro 6,138 million. 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 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, including the risk that the proposed acquisition may not be consummated. Please refer to AXA's Annual Report on Form 20-F and AXA's Document de Reference for the year ended December 31, 2006, 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, +1-212-314-2893; or AXA Media Relations: Christophe Dufraux, +33-1-40-75-46-74; or Clara Rodrigo, +33-1-40-75-47-22; or Armelle Vercken, +33-1-40-75-46-42; or Laurent Secheret, +33-1-40-75-48-17; or Mary Taylor, +1-212-314-5845; or Individual shareholders, +33-1-40-75-48-43 Web site: http://www.axa.com/ http://www.axa-equitable.com/

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