MONY Completes Merger into AXA Financial; MONY Common Stock De-Listed from NYSE

Business Wire, July 8, 2004

NEW YORK -- The MONY Group Inc. today announced the completion of its merger with AXA Financial, Inc. MONY is now a wholly owned subsidiary of AXA Financial. MONY common stock (NYSE: MNY) was de-listed from the New York Stock Exchange and ceased trading prior to the opening of trading at the New York Stock Exchange today, July 8, 2004. MONY has also filed to de-register its common stock and senior notes registered with the Securities and Exchange Commission effective today.

Under terms of the merger agreement with AXA Financial, which MONY stockholders approved on May 18, 2004, MONY stockholders of record immediately prior to the merger will receive $31.00 in cash from AXA Financial, plus dividends totaling $0.34755 from MONY for each share of MONY common stock.

About the MONY family of companies

The MONY family of companies, which became wholly owned subsidiaries of AXA Financial, Inc., today, July 8, 2004, provides life insurance, annuities, mutual funds, brokerage, asset management, business & estate planning, trust and investment banking products and services to individual and institutional clients through several member companies. MONY focuses primarily on offering customized financial solutions through multiple distribution channels, including a career network, brokerage general agencies, financial advisors, brokers, and other complementary channels. MONY's (www.mony.com) member companies include The Advest Group, Inc., MONY Life Insurance Company, MONY Life Insurance Company of America, Matrix Capital Markets Group, Inc., Enterprise Capital Management, Inc., U.S. Financial Life Insurance Company, The MONY Group Inc. and MONY Securities Corporation.