PR Newswire/Les Echos/

AXA
PRESS RELEASE

PARIS, JANUARY 9, 2014

AXA announced the successful placement of GBP 750 million subordinated notes

AXA announced today the
successful placement of GBP 750 million of Reg S subordinated notes due 2054 to
institutional investors. The initial coupon has been set at 5.625% per annum.
It will be fixed until the first call date in January 2034 and floating
thereafter with a step up of 100 basis points. The initial spread over Gilt is
215 basis points.

Settlement of the notes is expected to take place on January 16, 2014.

The notes will be treated as capital from a regulatory and rating agencies'
perspective within applicable limits. The transaction has been structured to
comply with the expected eligibility criteria for Tier 2 capital treatment
under Solvency II.

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
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

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING
FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be 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 and can be affected by other factors that
could cause actual results and AXA's plans and objectives to differ materially
from those expressed or implied in the forward looking statements. 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 and/or results
of operations. 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.

This announcement is for information purposes only and does not constitute an
offer to sell or a solicitation to purchase any securities in any jurisdiction.
The securities referred to in this press release will not be offered to the
public.

This press release is not an offer for sale within the United States of
any security of AXA or any of its affiliates. Securities of AXA or any of its
affiliates may not be offered or sold in the United States absent registration
under U.S. securities laws or unless exempt from registration under such laws.

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