A.M. Best Comments on the Acquisition of Winterthur Group by AXA

Business Wire, June 15, 2006

OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Winterthur Swiss Insurance Company (Switzerland) and its core subsidiary, Winterthur Life Insurance Company (Switzerland), collectively known as Winterthur Group, remain unchanged following the announcement that the group is to be acquired by AXA.

A.M. Best believes that the current financial strength of Winterthur Group is likely to remain unchanged following the acquisition. Financial flexibility is likely to remain stable following AXA's decision to refinance the majority of the outstanding debt issued by Winterthur Group.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.