Leading U.S. Life Insurance Company Reflects on Storied History of Innovation NEW YORK, July 23 /PRNewswire-FirstCall/ -- AXA Equitable Life Insurance Company announced today that Sunday, July 26, 2009, will mark the organization's 150th anniversary. Founded in 1859 as The Equitable Life Assurance Society of the United States (The Equitable), the company began in a $75 dollar-a-month rented office at 98 Broadway in New York City. The Equitable demutualized in 1992 in what was the largest insurance company stock conversion at the time. The company began its partnership with AXA Group that same year, when the Paris-based global insurer became the company's largest single investor. AXA Group bought the remaining shares of The Equitable in 2000, giving birth to AXA Equitable. "We are honored to reach such a significant milestone, and doing so is a testament to the passion of our founder, Henry Hyde," said Christopher M. "Kip" Condron, chairman and chief executive officer of AXA Equitable. "The core principle he instilled a century-and-a-half ago -- commitment to our customers -- is the very same doctrine that guides us today." A hallmark of a market leader is a company's ability to be agile in the midst of turmoil. Founded on the eve of the Civil War, AXA Equitable has weathered many challenges. "In our first 150 years, we have endured two world wars, the Great Depression, 18 recessions and a terrorist attack on our own soil," said Mr. Condron. "We have emerged stronger as a result of these experiences. As we look forward to our next 150 years, we will draw on both our storied history and the talent of our employees and financial professionals to make us even smarter, stronger and more focused on meeting the evolving needs our clients." The company's first customer was the father of then 25-year-old founder, Hyde. Today, AXA Equitable serves more than 3 million clients in communities across the Unites States, Puerto Rico and the Virgin Islands. "Throughout our partnership, AXA Equitable has been a model of success - achieved through prudently managed expenses and innovative life and retirement products introduced to the marketplace," said Henri de Castries, chairman and chief executive officer of AXA Group. "On behalf of AXA operations from 50 countries around the world, I congratulate AXA Equitable on its 150th anniversary, and I look forward to the U.S. operation continuing to be an integral part of the global vision for AXA Group." Highlights of AXA Equitable's legacy as a forerunner in the evolution of the life insurance industry include: -- Maintaining a strong balance sheet in order to meet promises to customers. Instead of accepting IOUs from policyholders - as was the industry practice in 1859 - Hyde insisted on cash payments to create adequate capital reserves and promote prudent growth. -- Cultivating within six short years of its inception (1865) the largest sales force in the industry. -- Designing an annuity for individuals that paid dividends and offered Americans in the 1860s a new method of saving for retirement. -- Introducing in 1881 the practice of paying death claims immediately and without protest - a departure from the industry's then typical and often prolonged waiting period. -- Being one of the first companies to offer group insurance products for both employers and employees. In 1911, the company began implementing innovative underwriting techniques and risk structures that made insurance more affordable to a growing population. -- Pioneering variable life insurance, the first investment-oriented insurance product to command a significant market share (1976). -- Introducing in 1996 the first variable annuity with a "living benefit" guarantee that offered investors the ability to receive guaranteed income for life regardless of market directions. This innovation pioneered by AXA Equitable is now a common feature of most variable annuities sold today. -- Launching My Retirement Shop (http://www.myretirementshop.com/), a first-of-its-kind retirement lifestyle Web site created by a financial services company. Unveiled in 2008, this comprehensive, education-based site brings individuals near or at retirement closer to the information and resources they want and need to live the retirement they desire. A Browse through History To share in its sesquicentennial, AXA Equitable invites the public to http://www.axa-equitable.com/axa/history.html to view a historical timeline of the company, from its debut on Broadway in 1859 to its national presence as an industry leader today. About AXA Equitable In business since 1859, AXA Equitable Life Insurance Company is a leading financial protection company and one of the nation's premier providers of life insurance, annuity, and investment products and services. The company's products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors, LLC; to the financial services market through its wholesale distribution channel, AXA Distributors, LLC; and to corporations and their employees through its corporate distribution channel, Corporate Markets. AXA Equitable, a subsidiary of AXA Financial Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. "AXA Group" refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. While a part of the AXA Group, AXA Equitable is solely responsible for its annuity and life insurance obligations. For more information, visit http://www.axa-equitable.com/. AXA Equitable Life Insurance Company (NY, NY) issues life insurance and annuity products. Guarantees in the life insurance and annuity products are based on the claims-paying ability of AXA Equitable Life Insurance Company. Variable products are co-distributed through affiliates, AXA Advisors, LLC and AXA Distributors, LLC. AXA Equitable and AXA Advisors do not provide legal or tax advice. DATASOURCE: AXA Equitable Life Insurance Company CONTACT: Discretion Winter, +1-212-314-2968, ; or Michael Arcaro, +1-212-314-2030 or Web Site: http://www.axa-equitable.com/

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