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                                                                    Exhibit 99.2

                          [THE MONY GROUP LETTERHEAD]


       THE MONY GROUP INC. ANNOUNCES FINAL ELECTION INFORMATION FOR ADVEST
                                   ACQUISITION

NEW YORK (February 6, 2001) - The MONY Group Inc. (NYSE: MNY) announced today
the final cash/stock election details for its recently completed acquisition of
The Advest Group.

For each share of Advest common stock owned, each Advest shareholder could elect
to receive $31.59 in cash, 0.8696 of a share of MONY common stock, or a
combination of cash and MONY shares. As per the transaction agreement, the
elections have been pro rated to produce an aggregate purchase price consisting
of 49.9 percent cash and 50.1 percent MONY common stock.

As a result of the above-described proration, shareholders that elected to
receive any portion of their proceeds in cash will receive approximately 82
percent of the cash elected and the remainder in MONY stock. For each share of
Advest common stock exchanged for cash, shareholders will receive $25.88 in cash
plus 0.1568 of a share of MONY common stock.

For each share of Advest common stock exchanged for MONY common stock and for
Advest shareholders that did not make an election, shareholders will receive
0.8696 of a share of MONY common stock.

The MONY Group Inc. (NYSE: MNY), with $55 billion in assets under management and
administration, provides life insurance, annuities, mutual funds, brokerage,
asset


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management, business & estate planning, trust and investment banking products
and services to individual and institutional clients through several member
companies. The MONY Group focuses primarily on offering customized financial
solutions through multiple distribution channels, including a career agency
sales force, brokerage general agencies, financial advisors, brokers, and other
complementary channels. The MONY Group's (www.mony.com) member companies include
The Advest Group, Inc., MONY Life Insurance Company, Enterprise Capital
Management, Inc., U.S. Financial Life Insurance Company, MONY Securities
Corporation and Trusted Securities Advisors Corp.



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