AXA Shares Increase In The S&P European Indices And S&P Global 100 Index

Standard & Poor’s will make the following changes in the S&P Europe 350, S&P Euro Plus, S&P Euro and S&P Global 100 indices effective the close of trading Monday, July 26, 2004:

• AXA (France, SEDOL: 7088429, GICS: Financials, GICS Code: 40301030), a member of the S&P Europe 350, S&P Euro Plus, S&P Euro and S&P Global 100 indices, shares will increase by 110,875,377 to 1,888,978,512. This is following the closing of the acquisition of the U.S. company Money Group, Inc. AXA exchanged all outstanding bonds (ORAN) redeemable in AXA shares, issued in October 2003, by the issue of one AXA share per one bond.

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