AXA teams have achieved an excellent performance in the first half of 2011 with resumed earnings growth.

Underlying Earnings up 10% to Euro 2.2 billion

Adjusted earnings up 7% to Euro 2.4 billion

Net Income quadrupled to Euro 4.0 billion

Substantial increase in new business profitability

Life & Savings NBV margin up from 21% to 26%

Property & Casualty current year combined ratio down 3.8 pts to 99.2%

Strong sales in high growth markets with high new business margins

AXA

Half year 2011 Earnings: in Line with Ambition AXA