AXA — M&A Activity 2013

Dec 23, 2013

PARIS, DECEMBER 23, 2013

AXA to sell its Hungarian Life & Savings insurance operations

AXA announced today it has entered into an agreement with Vienna Insurance Group to sell its Life & Savings operations in Hungaryi . AXA continues to have banking operations in the country.

This transaction is expected to trigger an exceptional capital loss of ca. Euro 40 million, which will be accounted for in Net Income in 2013.

Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals.

ABOUT THE AXA GROUP

The AXA Group is a worldwide leader in insurance and asset management, with 160,000 employees serving 102 million clients in 57 countries. In 2012, IFRS revenues amounted to Euro 90.1 billion and IFRS underlying earnings to Euro 4.3 billion. AXA had Euro 1,116 billion in assets under management as of December 31, 2012.

The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA's American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.

The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

It is a founding member of the UN Environment Programme's Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.

THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE www.axa.com

Investor Relations:
Mattieu Rouot:	+33.1.40.75.46.85
Jennifer Lejeune:	+33.1.40.75.39.27
Yael Beer-Gabel:	+33.1.40.75.47.93
Florian Bezault:	+33.1.40.75.59.17
Clémence Houssay:	+33.1.40.75.73.22
Varvara Romanenco : +33.1.40.75.73.63

Individual Shareholder Relations: +33.1.40.75.48.43

Media Relations: Garance Wattez-Richard: +33.1.40.75.46.42 Hélène Caillet: +33.1.40.75.55.51 Jean-Baptiste Mounier: +33.1.40.75.46.68

i AXA Insurance Company and AXA Money & More.

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Please refer to the section "Cautionary statements" in page 2 of AXA's Document de Référence for the year ended December 31, 2012, for a description of certain important factors, risks and uncertainties that may affect AXA's business. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise.