AXA Financial, Inc.

Reconciliation of AXA US Life & Savings Contribution to AXA Group IFRS Revenues

With Consolidated AXA Financial, Inc. Premiums under USGAAP

(in millions)

			Nine months ended September 30
			2007		2008
Contribution to IFRS Revenues per AXA Press Release		in Euro
	Gross Premiums		11,640		9,594
	Other Revenues (A)		645		561
			12,285		10,155
	Average exchange rate US$1.00 =		0.7440		0.6571
		In US$	16,512		15,454
Reconciling items:
	Less: Other Revenues (A)		(866	)	(853	)
	Less: Deposits from Universal life and invest-type product policy fee income (B)		(14,125	)	(13,102	)
	Less: Reinsurance ceded premiums (C)		(379	)	(385	)
	Add: Others (D)		8		23
	Total Reconciling items		(15,363	)	(14,318	)
Consolidated AXA Financial, Inc. US GAAP Premiums			1,150		1,137

(A)	Represents fees received from servicing and advisory business, and fees on the sales of Mutual Funds reported within Commissions, Fees & Other Income in the US GAAP Statement of Earnings
(B)	Reflected as an increase to Policyholder Account Balances in the US GAAP Balance Sheet
(C)	Reflected as a reduction to Premiums in the US GAAP Statement of Earnings
(D)	Represents Pension fee income and intercompany Reinsurance Assumed Premiums that are excluded from premiums for IFRS reporting