In today s economic environment, you may be

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1 reassurance Why AXA Equitable Now? What You Should Know In today s economic environment, you may be nervous about what the future holds. We understand the anxiety you may be feeling. Now more than ever, you want assurances from a financial services company that it will fulfill its obligations to you today and in the future. It comes down to this: you want to be able to have confidence in the company you do business with. You want to know that it is there for you when you need it. Some people might say that s being naive. AXA Equitable doesn t think so. You should expect these things from your financial services company. We expect that of ourselves. Since 1859, AXA Equitable has been redefining standards and making a difference for our customers. As a leading provider of life insurance and annuities, AXA Equitable offers innovative financial products that have been helping millions of people address their most important financial goals. Whether you are looking to buy a financial product from us or wondering if you should keep your financial product with us AXA Equitable remains a reliable choice. Our Commitment to Customers At AXA Equitable, redefining standards isn t just our motto it s who we are. Since our company s inception, we have had our customers interests and concerns at heart. That commitment continues today with our singular focus on being attentive, available and reliable. We keep our promises just as we have done for the past 149 years. AXA Equitable Managing Risks With today s uncertain market conditions, we want to reassure you that at AXA Equitable, we manage our business prudently. Nothing is more important to us than continuing to provide you with the products and services that help ensure the financial protection you and your family may need. As you look for assurances from a financial services company, it can be comforting to know that at AXA Equitable: We maintain a strong balance sheet, We invest assets conservatively, We follow disciplined risk management, and We have adequate resources to meet customer obligations. You can continue to count on us to stay true to our core business working with you to help address your retirement and protection needs.

2 Financially Solid AXA Equitable Keeping Promises AXA Equitable has a long history of meeting obligations and keeping promises to you, our clients. Today, this commitment has never been greater. Our strong risk management practices are reflected in our overall credit ratings from the major rating agencies, which rate insurance companies for their financial strength. 1 (For more information about what these ratings mean, please visit Current Financial Strength Ratings of AXA Equitable (as of 9/30/08) Rating Agency Current Rating Relative Ranking Meaning of Category Date Reviewed 2 A.M. Best Co. A+ 2nd highest of 16 Superior 5/08 Fitch AA 3rd highest of 21 Very strong 1/08 Moody s Aa3 4th highest of 21 Excellent 3/07 Standard & Poor s AA 3rd highest of 21 Very strong 6/07 Ratings are subject to change; contact your financial professional/insurance-licensed registered representative for more details, including information on rating scales and individual rating sources. The ratings reflected have no bearing on the performance of the variable investment subaccount portfolios. 1 The guarantees provided in our life insurance and annuity contracts are based on the claims-paying ability of AXA Equitable and do not apply to the variable investment subaccount portfolios. 2 Date reviewed indicates the last public statement by the rating agency. Understanding the Ratings A.M. Best: A.M. Best s Financial Strength Rating is the opinion of A.M. Best regarding an insurer s ability to meet its obligations to policyholders. A.M. Best ratings range from A++ to S. A plus (+) or minus ( ) following the rating shows relative standing within the major rating categories. The A+ rating represents the second highest among sixteen rating levels. Fitch: Fitch s Insurer Financial Strength Rating provides an assessment of the financial strength of an insurance organization and its capacity to meet senior obligations to policyholders and contract holders on a timely basis. Fitch ratings range from AAA to C. A plus (+) or minus ( ) following the rating shows relative standing within the major rating categories. The AA rating represents the third highest among twenty-one rating levels. Moody s: Moody s Insurance Financial Strength Ratings are the opinion of Moody s regarding the ability of insurance companies to repay punctually senior policyholder claims and obligations. Moody s ratings range from Aaa to C. Moody s applies numerical modifiers 1, 2 & 3 in each rating classification from Aa to Caa. The modifier 1 indicates that the obligation ranks in the higher end of its rating category; the modifier 2 indicates a mid-range ranking; and a modifier 3 indicates a ranking in the lower end of that rating category. The Aa3 rating represents the fourth highest among twenty-one rating levels. Standard & Poor s: A Standard & Poor s Insurer Financial Strength Rating is its current opinion of the financial security characteristics of an insurance organization with respect to its ability to pay under its insurance policies and contracts in accordance with their terms. Standard & Poor s ratings range from AAA to R. A plus (+) or minus ( ) following the rating shows relative standing within the major rating categories. The AA rating represents the third highest among twenty-one rating levels. 2

3 Completely Committed Global Strength AXA Equitable is part of the global AXA Group. 3 As a member of the global AXA Group and one of the nation s premier providers of investment and insurance products, AXA Equitable continues to offer innovative financial strategies. AXA Equitable has sole responsibility for its life insurance and annuity obligations. AXA Group s numbers speak for themselves: 67 million individual and corporate clients 4 $1.8 trillion in assets under management 5 Operations in approximately 50 countries 4 #6 on Fortune magazine s list of Most Admired Companies by Industry 6 The 15th largest organization in the world 7 Ranked #1 in the world in the Insurance: Life, Health (stock) category, by revenues 7 AXA Equitable s assets under management as of 9/30/2008 totaled $665.6 billion 8 What s more, AXA Group is rated excellent in Standard & Poor s review of insurers global risk management strategies. 9 This rating represents S&P s assessment of the likelihood of a company s risk management strategy resulting in major losses or exceeding its risk tolerance level. 3 AXA Group refers to AXA, a French holding company for an international group of insurance and financial services companies, together with its direct and indirect consolidated subsidiaries. AXA Equitable Life Insurance Company is an indirect, wholly owned subsidiary of AXA. 4 As of December 31, As of June 30, Fortune, Global Most Admired by Industry: Insurance, Life & Health, March 17, Fortune, 2008 Global 500 in terms of revenue, July 21, AXA Equitable s assets under management are inclusive of assets under management held by an affiliate, AllianceBernstein L.P. 9 Source: Standard & Poor s Ratings Direct, as of June 27, AXA Equitable Redefining/Standards Whether you are years away from retirement, almost there, or already retired and looking to stay on track, AXA Equitable remains steadfast and committed to helping you meet your financial protection needs with attentive, available and reliable service. After all, isn t that what you should expect from the financial services company you do business with? At AXA Equitable, that s exactly what you can expect when you do business with us. We hope this has been helpful in answering key questions about our financial strength and why now more than ever AXA Equitable is the company you can trust in today s economic environment and beyond. For more information about AXA Equitable, please contact an Account Executive at

4 The Members Retirement Program is funded by a group variable annuity contract issued and distributed by AXA Equitable Life Insurance Company, New York, NY AXA Equitable is not a legal or tax advisor AXA Equitable Life Insurance Company. All rights reserved Avenue of the Americas, New York, NY 10104, (212) Variable Products: Are Not a Deposit of Any Bank Are Not FDIC Insured Are Not Insured by Any Federal Government Agency Are Not Guaranteed by Any Bank or Savings Association May Go Down in Value G21363 GE-46856A (11/08) Cat. # (11/08)

5 Current AXA Equitable Ratings (as of March 20, 2009) AXA Equitable has consistently earned high marks by independent sources that rate insurance companies for their financial strength and stability. This page is an updated version of the ratings chart used in materials enclosed in this kit. Rating Agency Current Rating Relative Ranking Meaning of Category Date Reviewed 1 A.M. Best Co. A+ 2nd highest of 16 Superior 5/08 Fitch AA- 4th highest of 21 Very Strong 3/09 Moody s Aa3 4th highest of 21 Excellent 2/09 Standard & Poor s AA 3rd highest of 21 Very Strong 2/09 1 Date reviewed indicates the last public statement by the rating agency. Ratings are subject to change; contact your financial professional for more details, including information on rating scales and individual rating sources. The ratings reflected have no bearing on the performance of the variable investment options. Moody s ratings range from Aaa to C, AXA Equitable s Aa3 rating is 4th highest of 21 rating levels; Standard & Poor s ratings range from AAA to R, AXA Equitable s AA rating is 3rd highest of 21 rating levels; Fitch ratings range from AAA to C, AXA Equitable s AA- rating is 4th highest of 21 rating levels; and A.M. Best ratings range from A++ to S, AXA Equitable s A+ rating is 2nd highest of 16 rating levels. Moody s applies numerical modifiers 1, 2 and 3 in each rating classification from Aa through Caa. The modifier 1 indicates that the obligation ranks in the higher end of its rating category; the modifier 2 indicates a mid-range ranking; and modifier 3 indicates a ranking in the lower end of that rating category. Plus (+) or minus (-) following a rating shows relative standing within the major rating categories. Applicable for Standard & Poor s, Fitch and A.M. Best ratings. For more information, contact your financial professional or visit Life insurance and annuity products are issued by AXA Equitable Life Insurance Company. Variable annuity and variable life insurance products are co-distributed by affiliates AXA Advisors, LLC and AXA Distributors, LLC AXA Equitable Life Insurance Company. All rights reserved Avenue of the Americas, New York, NY 10104, (212) G22176 GE (3/09) Cat. # (3/09) Variable Life and Annuity Products: Are Not a Deposit of Any Bank Are Not FDIC Insured Are Not Insured by Any Federal Government Agency Are Not Guaranteed by Any Bank or Savings Association May Go Down in Value