Exhibit 99.2


LIFE & SAVINGS: VERY SOLID UNDERLYING PERFORMANCE



UNDERLYING EARNINGS                                       CHANGE         CHANGE AT
(Euro million)                         2004               FROM 2003      CST FX
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US                                      643                  +67             +131
 of which MONY                           56                  +56              +61
 of which AXA-Equitable                 587                  +12              +70
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WE SEE PROFITABLE GROWTH IN ... THE US

COMING FROM THE AXA DISTRIBUTORS CHANNEL (WHOLESALE)

o     Plan to add nearly 50% more wholesalers in 2005, with heavy emphasis on
      developing the planner channel

o     Leverage MONY life wholesaling expertise

o     Continue to develop third party sales: new relationships with Morgan
      Stanley, Bank One and Wells Fargo


.... AND FROM OUR PROPRIETARY CHANNEL (AXA/MONY ADVISORS)

o     Capture AXA operating efficiency gains with MONY

o     Increase AXA product share in MONY sales (14% of MONY revenues in 4Q04
      versus none before the acquisition)



Management currently anticipates that 2005 should see the full benefit of the
MONY integration which, as indicated previously, should contribute in 2005 at
least $170 million in underlying earnings to the AXA Group French GAAP earnings.

CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, including
statements relating to the operations, financial results, business and the
products of AXA Financial and its subsidiaries, as well as other statements
including words such as "anticipate," "believe," "plan," "estimate," "expect,"
"intend" and other similar expressions. AXA Financial claims the protection
afforded by the safe harbor for forward-looking statements contained in Section
21E of the Exchange Act, and assumes no duty to update any forward-looking
statement. Forward-looking statements are based on management's expectations and
beliefs concerning future developments and their potential effects, and are
subject to risks and uncertainties. Actual results could differ materially from
those anticipated by forward-looking statements due to a number of important
factors including the following: changes in general economic conditions,
including the performance of financial markets and interest rates; heightened
competition from other insurance companies, banks and other financial
institutions; downgrades in AXA Financial's and its subsidiaries' claims paying
ability, financial strength or credit ratings; AXA Financial's reliance, as a
holding company, on dividends from its subsidiaries and the applicable
regulatory restrictions on the ability of its subsidiaries to pay such
dividends; unexpected adverse results from litigation; regulatory changes that
adversely affect AXA Financial's operations; AXA Financial's ability to
successfully integrate acquired businesses; and other risks and uncertainties
described from time to time in AXA Financial's filings with the Securities and
Exchange Commission.