----

----

| (Mark      One) | FORM      10-K |
|-----------------|----------------|

| x      | ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) |
|--------|----------------------------------------------------|
|   | OF      THE SECURITIES EXCHANGE ACT OF 1934        |
|   | For      the fiscal year ended December 31,2009    |

|        o | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                              |   |
|---------------|--------------------------------------------------------------------------------------------|--------|
|          | SECURITIES      EXCHANGE ACT OF 1934                                                       |   |
|          | For      the transition period      from        to |   |

|   |  AXA EQUITABLE      LIFE INSURANCE COMPANY                   |   |
|--------|-------------------------------------------------------------------|--------|
|   |  (Exact name of      registrant as specified in its charter) |   |

|   | New      York                        |   |   | 13-5570651               |   |
|--------|--------------------------------------|--------|--------|--------------------------|--------|
|   | (State      or other jurisdiction of |   |   | (I.R.S.      Employer    |   |
|   | incorporation      or organization)  |   |   | Identification      No.) |   |

| 1290      Avenue of the Americas, New York, New York |   | 10104           |   |
|------------------------------------------------------|--------|-----------------|--------|
| (Address      of principal executive offices)        |   | (Zip      Code) |   |

|   |  Registrant’s      telephone number, including area code |  (212) 554-1234 |   |
|--------|---------------------------------------------------------------------|----------------------|--------|

|                     |   | Name      of each exchange on |
|--------------------------|--------|-------------------------------|
| Title      of each class |   | which      registered         |
| None                     |   | None                          |

|   | Common Stock (Par Value $1.25 Per      Share) |   |
|--------|-----------------------------------------------|--------|

|   | Yes |        o |   | No |  x |
|--------|-----|---------------|--------|----|---------|

|   | Yes |        o |   | No |        x |
|--------|-----|---------------|--------|----|---------------|

|   | Yes |        x |   | No |        o |
|--------|-----|---------------|--------|----|---------------|

|   | Yes |        o |   | No |        o |
|--------|-----|---------------|--------|----|---------------|

----

| Large      accelerated filer o                                                                                     |                                   | Accelerated      filer   o |
|--------------------------------------------------------------------------------------------------------------------|----------------------------------------|--------------------------------------|
| Non-accelerated      filer  x     (do      not check if a smaller reporting company) | Smaller      reporting company  o |

|   | Yes |        o |   | No |        x |
|--------|-----|---------------|--------|----|---------------|

----

| Part I                                                       |                                                                                                                                       | Page      |   |
|--------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|-----------|--------|
|                                                         |                                                                                                                                       |      |   |
| Item      1.                                                 | Business                                                                                                                                   | 1-1       |   |
|                                                         | Overview                                                                                                                                   | 1-1       |   |
|                                                         | Segment      Information                                                                                                                   | 1-1       |   |
|                                                         | Employees                                                                                                                                  | 1-7       |   |
|                                                         | Competition                                                                                                                                | 1-7       |   |
|                                                         | Regulation                                                                                                                                 | 1-8       |   |
|                                                         | Parent      Company                                                                                                                        | 1-10      |   |
|                                                         | Other      Information                                                                                                                     | 1-11      |   |
| Item      1A.                                                | Risk      Factors                                                                                                                          | 1A-1      |   |
| Item      1B.                                                | Unresolved      Staff Comments                                                                                                             | 1B-1      |   |
| Item      2.                                                 | Properties                                                                                                                                 | 2-1       |   |
| Item      3.                                                 | Legal      Proceedings                                                                                                                     | 3-1       |   |
| Item      4.                                                 | Submission      of Matters to a Vote of Security Holders*                                                                                  | 4-1       |   |
|                                                         |                                                                                                                                       |      |   |
| Part II                                                      |                                                                                                                                       |      |   |
|                                                         |                                                                                                                                       |      |   |
| Item      5.                                                 | Market      for Registrant’s Common Equity, Related Stockholder Matters and Issuer      Purchases of Equity Securities               | 5-1       |
| Item      6.                                                 | Selected      Financial Data*                                                                                                              | 6-1       |   |
| Item      7.                                                 | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations (“Management Narrative”) | 7-1       |   |
| Item      7A.                                                | Quantitative      and Qualitative Disclosures About Market Risk                                                                            | 7A-1      |   |
| Item      8.                                                 | Financial      Statements and Supplementary Data                                                                                           | FS-1      |   |
| Item      9.                                                 | Changes      In and Disagreements With Accountants on Accounting and Financial      Disclosure                                             | 9-1       |   |
| Item      9A(T)                                              | Controls      and Procedures                                                                                                               | 9A-1      |   |
| Item      9B.                                                |   Other      Information                                                                                                              | 9B-1      |
|                                                         |                                                                                                                                       |      |   |
| Part III                                                     |                                                                                                                                       |      |   |
|                                                         |                                                                                                                                       |      |   |
| Item      10.                                                | Directors,      Executive Officers and Corporate Governance*                                                                               | 10-1      |   |
| Item      11.                                                | Executive      Compensation*                                                                                                               | 11-1      |   |
| Item      12.                                                | Security      Ownership of Certain Beneficial Owners and Management                                                                        |      |   |
|                                                         | and      Related Stockholder Matters*                                                                                                      | 12-1      |   |
| Item      13.                                                | Certain      Relationships and Related Transactions, and Director      Independence*                                                       | 13-1      |   |
| Item      14.                                                | Principal      Accountant Fees and Services                                                                                                | 14-1      |   |
|                                                         |                                                                                                                                       |      |   |
| Part IV                                                      |                                                                                                                                       |      |   |
|                                                         |                                                                                                                                       |      |   |
| Item      15.                                                | Exhibits,      Financial Statement Schedules                                                                                               | 15-1      |   |
|                                                         |                                                                                                                                       |      |   |
| Signatures                                                   |                                                                                                                                       |  S-1 |   |
| Index      to Exhibits                                       |                                                                                                                                       |  E-1 |   |
|                                                         |                                                                                                                                       |      |   |
|                                                         |                                                                                                                                       |      |   |
| *Omitted      pursuant to General Instruction I to Form 10-K |                                                                                                                                       |      |

----

----

1

----

----

----

----

----

|                                     |   | Amount |     |   | %      of Total |   |
|------------------------------------------|--------|--------|----------|--------|-----------------|--------|
|                                     |   |   |     |   |            |   |
| Fixed      maturities                    |   | $      | 28,320.5 |   |            |   | 73.6 | % |
| Mortgages                                |   |   | 3,953.0  |   |            |   | 10.3 |   |
| Equity      real estate                  |   |   | 98.8     |   |            |   | .3 |   |
| Other      equity investments            |   |   | 1,168.8  |   |            |   | 3.0 |   |
| Policy      loans                        |   |   | 3,881.9  |   |            |   | 10.1 |   |
| Cash      and short-term investments (2) |   |   | 1,044.9  |   |            |   | 2.7 |   |
| Total                                    |   | $      | 38,467.9 |   |            |   | 100.0 | % |

| (1)   | Net      amortized cost is the cost of the General Account Investment Assets      (adjusted for impairments in value deemed to be other than temporary, if      any) less depreciation and amortization, where applicable, and less      valuation allowances on mortgage and real estate    portfolios. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Comprised      of “Cash and cash equivalents” and short-term investments included within      the “Other invested assets” caption on the consolidated balance      sheet. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

----

----

----

|  ● | decrease      the account values of our variable life and annuity contracts which, in      turn, reduces the amount of revenue we derive from fees charged on those      account and asset values and, for annuity contracts that provide enhanced      guarantee features, increases the amount of our potential obligations      related to such enhanced guarantee features and may increase the cost of      executing product guarantee related hedges beyond what was anticipated in      the pricing of the products being hedged.  This could result in      an increase in claims and reserves related to those contracts, net of any      reinsurance reimbursements or proceeds from our hedging      programs; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  ● | negatively impact      the value of equity securities we hold for investment, including our      investment in AllianceBernstein, thereby reducing our statutory      capital; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  ● | may      adversely impact the levels of surrenders and withdrawals of our variable      life and annuity contracts or cause contract owners to reallocate a      portion of their account balances to more conservative investment options      (which may have lower fees), which could negatively impact our future      profitability and/or increase our benefit obligations particularly if they      were to remain in such options during an equity market      increase; |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  ● | may      reduce demand for variable products relative to fixed      products; |
|---------------|-------------------------------------------------------------------------------|

|  ● | could      lead to changes in estimates underlying our calculations of deferred      acquisition costs that, in turn, could accelerate our DAC amortization and      reduce our current earnings; |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  ● | may      result in changes to the fair value of our GMIB reinsurance contracts,      which could increase the volatility of our earnings;  and |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------|

|  ● | decrease      the value of assets held to fund payments to employees from our qualified      pension plan, which could result in increased pension plan      costs. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

----

----

| ● | We      could experience long-term interruptions in our service due to the      vulnerability of our information and operation systems and those of our      significant vendors to the effects of catastrophic events.  Some      of our operational systems are not fully redundant, and our disaster      recovery and business continuity planning cannot account for all      eventualities.  Additionally, unanticipated problems with our      disaster recovery systems could further impede our ability to conduct      business, particularly if those problems affect our computer-based data      processing, transmission, storage and retrieval systems and destroy      valuable data. |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | The      occurrence of a pandemic disease could have a material adverse effect on      our liquidity and the operating results of the Insurance segment due to      increased mortality and, in certain cases, morbidity  rates. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | The      occurrence of any pandemic disease, natural disaster, terrorist attacks or      any other catastrophic event that results in our workforce being unable to      be physically located at one of our facilities could result in lengthy      interruptions in our service. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | A      localized catastrophic event that affects the location of one or more of      our COLI and/or employer sponsored life insurance customers could cause a      significant loss due to the corresponding mortality  claims. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Another      terrorist attack in the United States could have long term economic      impacts, that may have severe negative effects on our investment portfolio      and disrupt our business operations.  Any continuous and      heightened threat of terrorist attacks could also result in increased      costs of reinsurance. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

----

----

----

----

| ● | the      amount of benefits potentially payable by the Insurance Group under the      enhanced guarantee features offered in certain products, particularly the      Accumulator®      series of variable annuity products, has increased substantially, which      has increased the level of regulatory capital and reserves that the      Insurance Group needs to maintain to support these    products. |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | AllianceBernstein’s      assets under management, consolidated results of operations, the value of      the Insurance Group’s investment in AllianceBernstein, and the level of      distributions paid by AllianceBernstein to the Company have all declined      materially.  In particular, the decline in value of the      Insurance Group’s investment in AllianceBernstein has had a material      negative impact on the Insurance Group’s regulatory capital      levels. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | significant      declines in Separate Accounts balances have reduced the fee income being      earned on such accounts. |
|---------|-------------------------------------------------------------------------------------------------------------------------|

| ● | demand      for the Insurance Group’s products has been and may continue to be      adversely affected. |
|---------|---------------------------------------------------------------------------------------------------------------|

----

| ● | GMIB      Reinsurance Contracts.  GMIB reinsurance contracts are      used to cede to affiliated and non-affiliated reinsurers a portion of the      exposure on variable annuity products that offer the GMIB      feature.  Under U.S. GAAP, the GMIB reinsurance contracts ceded      to reinsurers are accounted for as derivatives and are reported at fair      value.  Gross reserves for GMIB, on the other hand, are      calculated under U.S. GAAP on the basis of assumptions related to      projected benefits and related contract charges over the lives of the      contracts and therefore will not immediately reflect the offsetting impact      on future claims exposure resulting from the same capital markets and/or      interest rate fluctuations that cause gains or losses on the fair value of      the GMIB reinsurance contracts.  Because the changes in the fair      value of the GMIB reinsurance contracts are recorded in the period in      which they occur while offsetting changes in gross reserves for GMIB will      be recognized over time, earnings will tend to be more volatile,      particularly during periods in which equity markets and/or interest rates      change significantly.  This was the case during the first nine      months of 2009 as the significant increase in equity markets and long-term      interest rates caused a decline in the fair value of the reinsurance      contracts, which was not fully offset by the change in the gross reserves,      contributing to the significant loss for the  period. |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Hedging      Programs.  Hedging programs are used to hedge certain      risks associated with the VA Guarantee Features.  These programs      currently utilize various derivative instruments that are managed in an      effort to reduce the economic impact of unfavorable changes in VA      Guarantee Features’ exposures attributable to movements in the equity      markets and interest rates.  Although these programs are      designed to provide a measure of economic protection against the impact      adverse market conditions may have with respect to VA Guarantee Features,      they do not qualify for hedge accounting treatment under U.S. GAAP,      meaning that, as in the case with the GMIB reinsurance contracts, changes      in the value of the derivatives will be recognized in the period in which      they occur while offsetting changes in reserves will be recognized over      time, which contributes to earnings volatility.  This was the      case during 2009, as significant increases in equity markets and long-term      interest rates caused a decline in the fair value of derivatives used in      these hedging programs, which was not fully offset by the change in the      gross reserves, contributing to the significant loss for the      period. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                     |   | 2009               |     |   | 2008   |   |
|--------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|
|                                                                     |   | (In      Millions) |     |
|                                                                     |   |               |     |   |   |   |
| Decrease      (increase) in GMDB, GMIB and GWBL reserves,                |   |               |     |   |   |   |
| net      of related GMDB reinsurance (1)                                 |   | $                  | 532.8    |   |   | $      | (2,606.0 | ) |
| (Decrease)      increase in fair value of GMIB reinsurance contracts (2) |   |               | (2,565.9 | )      |   |   | 1,566.8 |   |
| (Losses)      gains on free-standing derivatives (3)                     |   |               | (3,079.4 | )      |   |   | 7,302.1 |   |
| Total                                                                    |   | $                  | (5,112.5 | )      |   | $      | 6,262.9 |   |

| (1)   | Reported      in Policyholders’ benefits in the consolidated statement of      earnings |
|-----------------|-----------------------------------------------------------------------------------------------|

| (2)   | Reported      in (Decrease) increase in fair value of reinsurance contracts in the      consolidated statement of earnings |
|-----------------|----------------------------------------------------------------------------------------------------------------------------|

| (3)   | Reported      in Net investment (loss) income in the consolidated statement of      earnings |
|-----------------|----------------------------------------------------------------------------------------------|

----

|                                                                     |   | 2009               |   |   | 2008   |   |
|--------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|
|                                                                     |   | (In      Millions) |   |
|                                                                     |   |               |   |   |   |   |
| (Losses)      Earnings from Discontinued Operations, Net of IncomeTaxes: |   |               |   |   |   |   |
| Wind-up      Annuities                                                   |   | $                  | (9.7   | )      |   | $      | (27.5 | ) |
| Real      estate held-for-sale                                           |   |               | 12.4   |   |   |   | 22.7 |   |
| Total                                                                    |   | $                  | 2.7    |   |   | $      | (4.8 | ) |

| Gains      (Losses) on Disposal of Discontinued Operations,Net      of Income Taxes: |   |   |   |   |   |   |   |   |
|--------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|
| Real      estate held-for-sale                                                       |   | $      | -      |   |   | $      | 6.3    |   |
| Total                                                                                |   | $      | -      |   |   | $      | 6.3    |   |

----

|                                                                |   | 2009   |     |   | 2008   |   |
|---------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
|                                                                |   |   |     |   |   |   |
| Universal      life and investment-type product policy fee income   |   | $      | 2,918.4  |   |   | $      | 2,951.7 |   |
| Premiums                                                            |   |   | 431.1    |   |   |   | 758.6 |   |
| Net      investment (loss) income:                                  |   |   |     |   |   |   |   |   |
| Investment      (loss) income from derivative instruments           |   |   | (3,079.4 | )      |   |   | 7,302.1 |   |
| Other      investment income                                        |   |   | 1,931.6  |   |   |   | 2,022.7 |   |
| Total      net investment (loss) income                             |   |   | (1,147.8 | )      |   |   | 9,324.8 |   |
| Investment      gains (losses), net:                                |   |   |     |   |   |   |   |   |
| Total      other-than-temporary impairment losses                   |   |   | (169.2   | )      |   |   | (285.9 | ) |
| Portion      of loss recognized in other comprehensive income       |   |   | 5.9      |   |   |   | - |   |
| Net      impairment losses recognized                               |   |   | (163.3   | )      |   |   | (285.9 | ) |
| Other      investment gains (losses), net                           |   |   | 164.3    |   |   |   | (75.3 | ) |
| Total      investment gains (losses), net                           |   |   | 1.0      |   |   |   | (361.2 | ) |
| Commissions,      fees and other income                             |   |   | 699.5    |   |   |   | 834.7 |   |
| (Decrease)      increase in fair value of reinsurance contracts     |   |   | (2,565.9 | )      |   |   | 1,566.8 |   |
| Total      revenues                                                 |   |   | 336.3    |   |   |   | 15,075.4 |   |
|                                                                |   |   |     |   |   |   |   |   |
| Policyholders’      benefits                                  |   |   | 1,298.1  |   |   |   | 4,702.6 |   |
| Interest      credited to policyholders’ account balances     |   |   | 1,004.3  |   |   |   | 1,065.3 |   |
| Compensation      and benefits                                      |   |   | 519.0    |   |   |   | 509.6 |   |
| Commissions                                                         |   |   | 1,033.0  |   |   |   | 1,437.1 |   |
| Amortization      of DAC                                            |   |   | 115.0    |   |   |   | 3,484.7 |   |
| Capitalization      of DAC                                          |   |   | (975.3   | )      |   |   | (1,394.1 | ) |
| Rent      expense                                                   |   |   | 63.9     |   |   |   | 53.6 |   |
| Interest      expense                                               |   |   | 106.4    |   |   |   | 40.2 |   |
| All      other operating costs and expenses                         |   |   | 837.6    |   |   |   | 722.6 |   |
| Total      benefits and other deductions                            |   |   | 4,002.0  |   |   |   | 10,621.6 |   |
|                                                                |   |   |     |   |   |   |   |   |
| (Loss)      Earnings from Continuing Operations before Income Taxes |   | $      | (3,665.7 | )      |   | $      | 4,453.8 |   |

----

----

----

| ● | features      and pricing of various products, including but not limited to variable      annuity products, continue to change rapidly, in response to changing      customer preferences, company risk appetites, capital utilization and      other factors, |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | various      insurance companies, including one or more in the Insurance Group, have      eliminated and/or limited sales of certain annuity and life insurance      products or features, and |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | overall      industry sales of variable annuity and life insurance products have      declined, in some cases substantially, due in part to changing customer      preferences, a phenomenon also observed following previous periods of      significant market decline and/orvolatility. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                      |   | 2009   |    |   | 2008   |   |
|-----------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                      |   |   |    |   |   |   |
| Revenues:                                                 |   |   |    |   |   |   |
| Investment      advisory and services fees (1)            |   | $      | 1,920.3 |   |   | $      | 2,839.5 |   |
| Distribution      revenues                                |   |   | 277.3   |   |   |   | 378.4 |   |
| Institutional      research services                      |   |   | 434.6   |   |   |   | 471.7 |   |
| Other      revenues                                       |   |   | 107.3   |   |   |   | 117.8 |   |
| Commissions,      fees and other income                   |   |   | 2,739.5 |   |   |   | 3,807.4 |   |
|                                                      |   |   |    |   |   |   |   |   |
| Investment      income (losses)                           |   |   | 153.9   |   |   |   | (250.9 | ) |
| Less:      interest expense to finance trading activities |   |   | (4.4    | )      |   |   | (36.5 | ) |
| Net      investment income (losses)                       |   |   | 149.5   |   |   |   | (287.4 | ) |
|                                                      |   |   |    |   |   |   |   |   |
| Investment      gains, net                                |   |   | 52.7    |   |   |   | 22.7 |   |
| Total      revenues                                       |   |   | 2,941.7 |   |   |   | 3,542.7 |   |
|                                                      |   |   |    |   |   |   |   |   |
| Expenses:                                                 |   |   |    |   |   |   |   |   |
| Compensation      and benefits                            |   |   | 1,340.0 |   |   |   | 1,479.9 |   |
| Distribution      plan payments                           |   |   | 207.6   |   |   |   | 274.4 |   |
| Amortization      of deferred sales commissions           |   |   | 54.9    |   |   |   | 79.1 |   |
| Interest      expense                                     |   |   | 1.4     |   |   |   | 11.3 |   |
| Rent      expense                                         |   |   | 194.3   |   |   |   | 193.0 |   |
| Amortization      of other intangible assets, net         |   |   | 24.1    |   |   |   | 23.7 |   |
| Other      operating costs and expenses                   |   |   | 530.7   |   |   |   | 549.1 |   |
| Total      expenses                                       |   |   | 2,353.0 |   |   |   | 2,610.5 |   |
|                                                      |   |   |    |   |   |   |   |   |
| Earnings      from Continuing Operations before           |   |   |    |   |   |   |   |   |
| Income      Taxes                                         |   | $      | 588.7   |   |   | $      | 932.2 |   |

| (1)   | Included      fees earned by AllianceBernstein totaling $28.0 million and $29.7 million      in 2009 and 2008, respectively, for services provided to the Insurance      Group. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                   |   | December      31, |    |
|----------------------------------------|--------|-------------------|---------|
|                                   |   | 2009              |    |   | 2008 |   |
|                                   |   |              |    |   |   |   |
| Third      party(1)                    |   | $                 | 435,847 |   |   | $ | 412,479 |   |
| General      Account and other(2)      |   |              | 51,383  |   |   |   | 59,452 |   |
| Insurance      Group Separate Accounts |   |              | 84,054  |   |   |   | 67,527 |   |
| Total      Assets Under Management     |   | $                 | 571,284 |   |   | $ | 539,458 |   |

| (1)   | Included      $39.58 billion and $39.39 billion of assets managed on behalf of AXA      affiliates at December 31, 2009 and 2008, respectively.  Also      included in 2009 and 2008 were $13.6 billion and $11.9 billion,      respectively, in assets related to an Australian joint venture between      AllianceBernstein and an AXAaffiliate. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Included      invested assets of the Company not managed by AllianceBernstein,      principally cash and short-term investments and policy loans, totaling      approximately $13.4 billion and $18.1 billion at December 31, 2009 and      2008, respectively, as well as mortgages and equity real estate totaling      $4.07 billion and $4.21 billion at December 31, 2009 and 2008,      respectively. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

|  ● | At December 31, 2009, AXA Equitable had outstanding $650.0      million of 5.40% senior unsecured notes issued by AXA      affiliates.  |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------|

|  ● | AllianceBernstein      provides investment management and related services to AXA, AXA Financial      and AXA Equitable and certain of their subsidiaries and      affiliates.  AllianceBernstein and AXA Asia Pacific Holdings,      Limited, an AXA affiliate, own two investment management companies and      recognized management fees of $40.9 million, $68.3 million and $77.6      million in 2009, 2008 and 2006, respectively, of which approximately $14.0      million, $19.6 million and $22.9 million, respectively, were from AXA      affiliates and $3.7 million, $9.7 million and $11.1 million, respectively,      were attributed to noncontrollinginterest. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  ● | AXA      Financial, AXA Equitable and AllianceBernstein, along with other AXA      affiliates, participate in certain cost sharing and servicing agreements,      which include technology and professional development      arrangements.  Payments by AXA Equitable and AllianceBernstein      to AXA under such agreements totaled approximately $48.0 million, $45.3      million and $32.9 million in 2009, 2008 and 2007,      respectively.  Payments by AXA and AXA affiliates to the Company      under such agreements totaled approximately $17.8 million, $28.1 million      and $27.7 million in 2009, 2008 and 2007,      respectively.  Included in the payments by AXA and AXA      affiliates to the Company were $7.6 million, $12.9 million and $13.5      million from AXA Tech for 2009, 2008 and 2007,      respectively.  AXA Equitable provided and paid for certain      services at cost on behalf of AXA Tech; these costs which totaled $107.0      million, $117.6 million and $110.7 million for 2009, 2008 and 2007,      respectively, offset the amounts AXA Financial Group were charged in those      years for services provided by AXA  Tech.   |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                               |   |   |     |   | Payments      Due by Period |   |
|------------------------------------|--------|--------|----------|--------|-----------------------------|--------|
|                               |   |   |     |   | Less      than              |   |   |   |   |   |   |   |   | Over |   |
|                               |   | Total  |     |   | 1      year                 |   |   | 1 –      3 years |   |   | 4 –      5 years |   |   | 5      years |   |
|                               |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |
| Contractual      obligations:      |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |
| Policyholders      liabilities -   |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |
| policyholders’      account  |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |
| balances,      future policy       |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |
| benefits      and other            |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |
| policyholders      liabilities (1) |   | $      | 92,989.2 |   |                        | $      | 2,076.6 |   |   | $ | 4,031.2 |   |   | $ | 4,552.1 |   |   | $ | 82,329.3 |   |
| Long-term      debt                |   |   | 200.0    |   |                        |   | - |   |   |   | - |   |   |   | - |   |   |   | 200.0 |   |
| Loans      from affiliates         |   |   | 1,325.0  |   |                        |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,325.0 |   |
| Operating      leases              |   |   | 3,296.2  |   |                        |   | 204.5 |   |   |   | 418.6 |   |   |   | 429.8 |   |   |   | 2,243.3 |   |
| Funding      commitments           |   |   | 55.9     |   |                        |   | 22.7 |   |   |   | 16.0 |   |   |   | 17.2 |   |   |   | - |   |
| Employee      benefits             |   |   | 40.6     |   |                        |   | 3.4 |   |   |   | 6.9 |   |   |   | 6.2 |   |   |   | 24.1 |   |
|                               |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Contractual             |   |   |     |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Obligations                        |   | $      | 97,906.9 |   |                        | $      | 2,307.2 |   |   | $ | 4,472.7 |   |   | $ | 5,005.3 |   |   | $ | 86,121.7 |   |

| (1)   | Policyholders      liabilities represent estimated cash flows out of the General Account      related to the payment of death and disability claims, policy surrenders      and withdrawals, annuity payments, minimum guarantees on Separate Account      funded contracts, matured endowments, benefits under accident and health      contracts, policyholder      dividends and future renewal premium-based and fund-based commissions      offset by contractual future premiums and deposits on in-force      contracts.  These estimated cash flows are based on mortality,      morbidity and lapse assumptions comparable with the Company’s experience      and assume market growth and interest crediting consistent with      assumptions used in amortizing DAC.  These amounts are      undiscounted and, therefore, exceed the Policyholders’ account balances      and Future policy benefits and other policyholder liabilities included in      the consolidated balance sheet included elsewhere herein.  They      do not reflect projected recoveries from reinsurance      agreements.  Due to the use of assumptions, actual cash flows      will differ from these estimates (see “Critical Accounting Estimates –      Future Policy Benefits”).  Separate Accounts liabilities have      been excluded as they are legally insulated from General Account      obligations and will be funded by cash flows from Separate Accounts      assets. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

|                          |   | December      31, 2009 |     |   | December      31, 2008 |   |
|-------------------------------|--------|------------------------|----------|--------|------------------------|--------|
|                          |   |                   |     |   | Balance      After     |   |   |   |   |   | Balance      After |   |
|                          |   | Fair                   |     |   | +100      Base         |   |   | Fair |   |   | +100      Basis |   |
|                          |   | Value                  |     |   | Point      Change      |   |   | Value |   |   | Point      Change |   |
| Continuing Operations:        |   |                   |     |   |                   |   |   |   |   |   |   |   |
| Fixed      maturities:        |   |                   |     |   |                   |   |   |   |   |   |   |   |
| Fixed      rate               |   | $                      | 27,955.1 |   |                   | $      | 26,718.8 |   |   | $ | 24,477.3 |   |   | $ | 23,250.7 |   |
| Floating      rate            |   |                   | 233.7    |   |                   |   | 232.6 |   |   |   | 127.9 |   |   |   | 126.0 |   |
| Mortgage      loans           |   |                   | 3,945.7  |   |                   |   | 3,790.9 |   |   |   | 3,624.5 |   |   |   | 3,467.9 |   |
|                          |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Wind-up      Annuities:  |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      maturities:        |   |                   |     |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      rate               |   | $                      | -        |   |                   | $      | - |   |   | $ | 602.2 |   |   | $ | 581.9 |   |
| Mortgage      loans           |   |                   | -        |   |                   |   | - |   |   |   | 1.3 |   |   |   | 1.2 |   |

| (1) | At      December 31, 2009, due to the significant decline in in-force business,      Wind-up Annuities’ remaining assets, including fixed rate fixed maturities      with a fair value of $543.5 million and mortgage loans with a fair value      of $256.4 million, as well as its liabilities were consolidated into the      Company’s consolidated balance sheet on a line-by-line      basis.  The fair value amounts are now included in the      Continuing Operations totals at December 31,  2009. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                       | December      31, 2009 |   | December      31, 2008                              |   |
|----------------------------|------------------------|--------|-----------------------------------------------------|--------|
|                       | FairValue              |   | Balance      After-10%      EquityPrice      Change |   | FairValue |   | Balance      After-10%      EquityPrice Change |   |
|                       |                   |   |                                                |   |   |   |   |   |   |   |   |   |
| Insurance      Group:      |                   |   |                                                |   |   |   |   |   |   |   |   |   |
| Continuing      operations |                   | $      | 66.8                                                |   |   | $ | 60.1 |   |   | $ | 52.6 |   |   | $ | 47.3 |   |

----

|                   |   |           |     |   |           |   | Interest      Rate Sensitivity |
|------------------------|--------|----------------|----------|--------|----------------|--------|--------------------------------|
|                   |   |           |     |   |  Weighted |   |                           |   |   |   |   |   |   |   |   |
|                   |   |           |     |   |  Average  |   |                           | Balance      After |   |   |   |   |   | Balance      After |   |
|                   |   |  Notional |     |   |  Term     |   |                           | -100      Basis |   |   |  Fair |   |   | +100      Basis |   |
|                   |   |  Amount   |     |   |  (Years)  |   |                           | Point      Change |   |   |  Value |   |   |  Point      Change |   |
|                   |   |           |     |   |           |   |                           |   |   |   |   |   |   |   |   |
| December      31, 2009 |   |           |     |   |           |   |                           |   |   |   |   |   |   |   |   |
| Floors                 |   | $              | 15,000.0 |   |           |   | 2.65                           |   |   | $ | 428.1 |   |   | $ | 299.6 |   |   | $ | 214.4 |   |
| Swaps                  |   |           | 2,100.0  |   |           |   | 6.91                           |   |   |   | 274.2 |   |   |   | 61.4 |   |   |   | (132.1 | ) |
| Futures                |   |           | 3,790.9  |   |           |   | .22                            |   |   |   | 305.7 |   |   |   | - |   |   |   | (282.0 | ) |
| Swaptions              |   |           | 1,200.0  |   |           |   | 9.53                           |   |   |   | 88.0 |   |   |   | 44.6 |   |   |   | 22.4 |   |
| Total                  |   | $              | 22,090.9 |   |           |   |                           |   |   | $ | 1,096.0 |   |   | $ | 405.6 |   |   | $ | (177.3 | ) |

| December      31, 2008    |   |   |     |   |   |   |   |   |   |   |    |   |   |   |   |
|---------------------------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|--------|
| Options:                  |   |   |     |   |   |   |   |   |   |   |    |   |   |   |   |
| Interest      rate floors |   | $      | 21,000.0 |   |   |   | 5.66   |   |   | $      | 871.1   |   |   | $      | 547.0  |   |   | $ | 452.0 |   |
| S&P      puts/calls   |   |   | 1,750.0  |   |   |   | 1.00   |   |   |   | 163.1   |   |   |   | 31.1   |   |   |   | (122.0 | ) |
| Futures                   |   |   | 5,126.7  |   |   |   | .22    |   |   |   | 334.3   |   |   |   | -      |   |   |   | (334.3 | ) |
| Interest      rate swaps  |   |   | 1,100.0  |   |   |   | 14.08  |   |   |   | 410.2   |   |   |   | 254.7  |   |   |   | 125.4 |   |
| Total                     |   | $      | 28,976.7 |   |   |   |   |   |   | $      | 1,778.7 |   |   | $      | 832.8  |   |   | $ | 121.1 |   |
|                      |   |   |     |   |   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |

|                   |   |   |     |   |   |   |   |   |   |   | Equity      Sensitivity |   |
|------------------------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|-------------------------|--------|
|                   |   |   |     |   |   |   |   |   |   |   |                    |   |   | Balance      after |   |
|                   |   |   |     |   |   |   |   |   |   |   | Fair                    |   |   | -10%      Equity |   |
|                   |   |   |     |   |   |   |   |   |   |   | Value                   |   |   | Price      Shift |   |
| December      31, 2009 |   |   |     |   |   |   |   |   |   |   |                    |   |   |   |   |
| Futures                |   | $      | 3,399.4  |   |   |   | .22    |   |   |   |                    |   |   | $ | - |   |   | $ | 308.3 |   |
| Swaps                  |   |   | 801.0    |   |   |   | .13    |   |   |   |                    |   |   |   | (18.3 | ) |   |   | 65.4 |   |
| Options                |   |   | 11,650.0 |   |   |   | .28    |   |   |   |                    |   |   |   | (218.5 | ) |   |   | (127.9 | ) |
| Total                  |   | $      | 15,850.4 |   |   |   |   |   |   |   |                    |   |   | $ | (236.8 | ) |   | $ | 245.8 |   |
|                   |   |   |     |   |   |   |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |
| December      31, 2008 |   |   |     |   |   |   |   |   |   |   |                    |   |   |   |   |   |   |   |   |   |
| Futures                |   | $      | (5,707.1 | )      |   |   | .22    |   |   |   |                    |   |   | $ | - |   |   | $ | 57.1 |   |

----

|                        | December      31, 2009 |   |   | December      31, 2008 |
|-----------------------------|------------------------|--------|--------|------------------------|
|                        |                   |   |   |                   | Balance      After |   |   |   |   |   | Balance      After |   |
|                        |                   | Fair   |   |                   | -100      Basis |   |   | Fair |   |   | -100      Basis |   |
|                        |                   | Value  |   |                   | Point      Change |   |   | Value |   |   | Point      Change |   |
| Continuing      Operations: |                   |   |   |                   |   |   |   |   |   |   |   |   |
| Fixed      rate             |                   | $      | 226.0  |                   |   | $ | 237.2 |   |   | $ | 190.8 |   |   | $ | 201.1 |   |

|                              | December      31, 2009 |   | December      31, 2008 |   |
|-----------------------------------|------------------------|--------|------------------------|--------|
|                              |                   |   | Balance      After     |   |   |   | Balance      After |   |
|                              | Fair                   |   | +100      Basis Point  |   | Fair |   | +100      Basis Point |   |
|                              | Value                  |   | Change                 |   | Value |   | Change |   |
|                              |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Fixed      Income Investments:    |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Trading                           |                   | $      | 125.9                  |   |   | $ | 120.2 |   |   | $ | 76.2 |   |   | $ | 73.1 |   |
| Available-for-sale      and other |                   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| investments                       |                   |   | .2                     |   |   |   | .2 |   |   |   | .2 |   |   |   | .2 |   |

----

|                              | December      31, 2009 |   | December      31, 2008 |   |
|-----------------------------------|------------------------|--------|------------------------|--------|
|                              |                   |   | Balance      After     |   |   |   | Balance      After |   |
|                              | Fair                   |   | -10%      equity Price |   | Fair |   | -10%      equity Price |   |
|                              | Value                  |   | Change                 |   | Value |   | Change |   |
| Equity      Investments:          |                   |   |                   |   |   |   |   |   |   |   |   |   |
| Trading                           |                   | $      | 358.7                  |   |   | $ | 322.8 |   |   | $ | 246.4 |   |   | $ | 221.8 |   |
| Available      for sale and other |                   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| investments                       |                   |   | 283.3                  |   |   |   | 255.0 |   |   |   | 255.1 |   |   |   | 229.6 |   |

----

| Report      of Independent Registered Public Accounting Firm                                                              | F-1    |
|---------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                      |   |
| Consolidated      Financial Statements:                                                                                   |   |
| Consolidated      Balance Sheets, December 31, 2009 and 2008                                                              | F-2    |
| Consolidated      Statements of (Loss) Earnings, Years Ended December 31, 2009, 2008      and 2007                   | F-3    |
| Consolidated      Statements of Equity, Years Ended December 31, 2009, 2008 and      2007                                 | F-5    |
| Consolidated      Statements of Comprehensive (Loss) Income, Years      Ended December 31, 2009, 2008 and 2007       | F-6    |
| Consolidated      Statements of Cash Flows, Years Ended December 31, 2009, 2008 and      2007                             | F-7    |
| Notes      to Consolidated Financial Statements                                                                           | F-9    |
|                                                                                                                      |   |
|                                                                                                                      |   |
| Report      of Independent Registered Public Accounting Firm on Financial Statement      Schedules                        | F-75   |
|                                                                                                                      |   |
| Consolidated      Financial Statement Schedules:                                                                          |   |
| Schedule      I - Summary of Investments - Other than Investments in Related      Parties,  December 31, 2009   | F-76   |
| Schedule      II - Balance Sheets (Parent Company), December 31, 2009 and      2008                                       | F-77   |
| Schedule      II - Statements of (Loss) Earnings (Parent Company), Years Ended      December 31, 2009, 2008 and 2007 | F-78   |
| Schedule      II – Statements of Cash Flows (Parent Company), Years Ended      December 31, 2009, 2008 and 2007     | F-79   |
| Schedule      III – Supplementary Insurance Information, Years Ended December 31,      2009, 2008 and 2007          | F-81   |
| Schedule      IV – Reinsurance, Years Ended December 31, 2009, 2008 and    2007                                     | F-84   |

----

----

|                                                                                           |   | 2009               |      |   | 2008   |   |
|------------------------------------------------------------------------------------------------|--------|--------------------|-----------|--------|--------|--------|
|                                                                                           |   | (In      Millions) |      |
| ASSETS                                                                                         |   |               |      |   |   |   |
| Investments:                                                                                   |   |               |      |   |   |   |
| Fixed      maturities available for sale, at fair value                                        |   | $                  | 27,470.2  |   |   | $      | 23,831.0 |   |
| Mortgage      loans on real estate                                                             |   |               | 3,554.8   |   |   |   | 3,673.9 |   |
| Equity      real estate, held for the production of income                                     |   |               | 98.5      |   |   |   | 56.3 |   |
| Policy      loans                                                                              |   |               | 3,616.8   |   |   |   | 3,700.3 |   |
| Other      equity investments                                                                  |   |               | 1,562.3   |   |   |   | 1,646.8 |   |
| Trading      securities                                                                        |   |               | 484.6     |   |   |   | 322.7 |   |
| Other      invested assets                                                                     |   |               | 1,482.6   |   |   |   | 1,500.9 |   |
| Total      investments                                                                         |   |               | 38,269.8  |   |   |   | 34,731.9 |   |
| Cash      and cash equivalents                                                                 |   |               | 1,791.7   |   |   |   | 2,403.2 |   |
| Cash      and securities segregated, at fair value                                             |   |               | 985.7     |   |   |   | 2,572.6 |   |
| Broker-dealer      related receivables                                                         |   |               | 1,087.6   |   |   |   | 1,020.4 |   |
| Deferred      policy acquisition costs                                                         |   |               | 7,745.2   |   |   |   | 7,482.0 |   |
| Goodwill      and other intangible assets, net                                                 |   |               | 3,676.5   |   |   |   | 3,702.9 |   |
| Amounts      due from reinsurers                                                               |   |               | 3,028.2   |   |   |   | 2,897.2 |   |
| Loans      to affiliates                                                                       |   |               | 1,048.3   |   |   |   | 588.3 |   |
| Other      assets                                                                              |   |               | 8,254.9   |   |   |   | 13,240.8 |   |
| Separate      Accounts’ assets                                                           |   |               | 84,016.5  |   |   |   | 67,627.0 |   |
|                                                                                           |   |               |      |   |   |   |   |   |
| Total      Assets                                                                              |   | $                  | 149,904.4 |   |   | $      | 136,266.3 |   |
|                                                                                           |   |               |      |   |   |   |   |   |
| LIABILITIES                                                                                    |   |               |      |   |   |   |   |   |
| Policyholders’      account balances                                                     |   | $                  | 24,107.3  |   |   | $      | 24,742.5 |   |
| Future      policy benefits and other policyholders liabilities                                |   |               | 17,726.7  |   |   |   | 17,733.1 |   |
| Broker-dealer      related payables                                                            |   |               | 279.4     |   |   |   | 485.5 |   |
| Customers      related payables                                                                |   |               | 1,430.7   |   |   |   | 2,753.1 |   |
| Amounts      due to reinsurers                                                                 |   |               | 81.2      |   |   |   | 64.2 |   |
| Short-term      and long-term debt                                                             |   |               | 449.0     |   |   |   | 484.6 |   |
| Loans      from affiliates                                                                     |   |               | 1,325.0   |   |   |   | 1,325.0 |   |
| Income      taxes payable                                                                      |   |               | 3,356.0   |   |   |   | 3,794.4 |   |
| Noncontrolling      interest subject to redemption rights                                      |   |               | -         |   |   |   | 135.0 |   |
| Other      liabilities                                                                         |   |               | 3,002.2   |   |   |   | 2,861.4 |   |
| Separate      Accounts’ liabilities                                                      |   |               | 84,016.5  |   |   |   | 67,627.0 |   |
| Total      liabilities                                                                         |   |               | 135,774.0 |   |   |   | 122,005.8 |   |
|                                                                                           |   |               |      |   |   |   |   |   |
| Commitments      and contingent liabilities (Notes 2, 7, 10, 11, 12, 13, 18 and      19)       |   |               |      |   |   |   |   |   |
|                                                                                           |   |               |      |   |   |   |   |   |
| EQUITY                                                                                         |   |               |      |   |   |   |   |   |
| AXA      Equitable’s equity:                                                             |   |               |      |   |   |   |   |   |
| Common      stock, $1.25 par value, 2.0 million shares authorized, issued and      outstanding |   |               | 2.5       |   |   |   | 2.5 |   |
| Capital      in excess of par value                                                            |   |               | 5,582.3   |   |   |   | 5,184.1 |   |
| Retained      earnings                                                                         |   |               | 6,311.8   |   |   |   | 8,412.6 |   |
| Accumulated      other comprehensive loss                                                      |   |               | (1,035.7  | )      |   |   | (2,235.6 | ) |
| Total      AXA Equitable’s equity                                                        |   |               | 10,860.9  |   |   |   | 11,363.6 |   |
| Noncontrolling      interest                                                                   |   |               | 3,269.5   |   |   |   | 2,896.9 |   |
| Total      equity                                                                              |   |               | 14,130.4  |   |   |   | 14,260.5 |   |
|                                                                                           |   |               |      |   |   |   |   |   |
| Total      Liabilities and Equity                                                              |   | $                  | 149,904.4 |   |   | $      | 136,266.3 |   |

----

|                                                                 |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|----------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                 |   | (In      Millions) |     |
|                                                                 |   |               |     |
| REVENUES                                                             |   |               |     |   |   |   |     |   |   |
| Universal      life and investment-type product                      |   |               |     |   |   |   |     |   |   |
| policy      fee income                                               |   | $                  | 2,918.4  |   |   | $      | 2,951.7  |   |   | $ | 2,741.7 |   |
| Premiums                                                             |   |               | 431.1    |   |   |   | 758.6    |   |   |   | 804.9 |   |
| Net      investment (loss) income:                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| Investment      (loss) income from derivative      instruments       |   |               | (3,079.4 | )      |   |   | 7,302.1  |   |   |   | 86.6 |   |
| Other      investment income                                         |   |               | 2,098.9  |   |   |   | 1,751.9  |   |   |   | 2,567.1 |   |
| Total      net investment (loss) income                              |   |               | (980.5   | )      |   |   | 9,054.0  |   |   |   | 2,653.7 |   |
| Investment      gains (losses), net:                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| Total      other-than-temporary impairment losses                    |   |               | (169.2   | )      |   |   | (285.9   | )      |   |   | (77.8 | ) |
| Portion      of loss recognized in other comprehensive      income   |   |               | 5.9      |   |   |   | -        |   |   |   | - |   |
| Net      impairment losses recognized                                |   |               | (163.3   | )      |   |   | (285.9   | )      |   |   | (77.8 | ) |
| Other      investment gains (losses), net                            |   |               | 217.0    |   |   |   | (52.6    | )      |   |   | 70.6 |   |
| Total      investment gains (losses), net                            |   |               | 53.7     |   |   |   | (338.5   | )      |   |   | (7.2 | ) |
| Commissions,      fees and other income                              |   |               | 3,385.2  |   |   |   | 4,549.0  |   |   |   | 5,173.7 |   |
| (Decrease)      increase in fair value of reinsurance      contracts |   |               | (2,565.9 | )      |   |   | 1,566.8  |   |   |   | 6.9 |   |
| Total      revenues                                                  |   |               | 3,242.0  |   |   |   | 18,541.6 |   |   |   | 11,373.7 |   |
|                                                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| Policyholders’      benefits                                   |   |               | 1,298.1  |   |   |   | 4,702.6  |   |   |   | 1,998.5 |   |
| Interest      credited to policyholders’ account balances      |   |               | 1,004.3  |   |   |   | 1,065.3  |   |   |   | 1,065.2 |   |
| Compensation      and benefits                                       |   |               | 1,858.7  |   |   |   | 1,989.1  |   |   |   | 2,453.2 |   |
| Commissions                                                          |   |               | 1,033.0  |   |   |   | 1,437.1  |   |   |   | 1,744.2 |   |
| Distribution      plan payments                                      |   |               | 207.6    |   |   |   | 274.4    |   |   |   | 335.1 |   |
| Amortization      of deferred sales commissions                      |   |               | 54.9     |   |   |   | 79.1     |   |   |   | 95.5 |   |
| Interest      expense                                                |   |               | 107.8    |   |   |   | 51.5     |   |   |   | 58.2 |   |
| Amortization      of deferred policy acquisition costs               |   |               | 115.0    |   |   |   | 3,484.7  |   |   |   | 1,099.2 |   |
| Capitalization      of deferred policy acquisition costs             |   |               | (975.3   | )      |   |   | (1,394.1 | )      |   |   | (1,719.3 | ) |
| Rent      expense                                                    |   |               | 258.2    |   |   |   | 246.6    |   |   |   | 224.3 |   |
| Amortization      of other intangible assets                         |   |               | 24.1     |   |   |   | 23.7     |   |   |   | 23.2 |   |
| Other      operating costs and expenses                              |   |               | 1,334.3  |   |   |   | 1,196.0  |   |   |   | 1,317.9 |   |
| Total      benefits and other deductions                             |   |               | 6,320.7  |   |   |   | 13,156.0 |   |   |   | 8,695.2 |   |

----

|                                                                        |   | 2009               |     |   | 2008   |    |     | 2007   |   |
|-----------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|---------|----------|--------|--------|
|                                                                        |   | (In      Millions) |     |
|                                                                        |   |               |     |   |   |    |     |   |   |
| (Loss)      earnings from continuing operations before      income taxes    |   | $                  | (3,078.7 | )      |   | $       | 5,385.6  |   |   | $ | 2,678.5 |   |
| Income      tax benefit (expense)                                           |   |               | 1,272.1  |   |   |    | (1,690.5 | )      |   |   | (752.5 | ) |
|                                                                        |   |               |     |   |   |    |     |   |   |   |   |   |
| (Loss)      earnings from continuing operations, net      of income taxes   |   |               | (1,806.6 | )      |   |    | 3,695.1  |   |   |   | 1,926.0 |   |
| Earnings      (loss) from discontinued operations, net      of income taxes |   |               | 2.7      |   |   |    | (4.8     | )      |   |   | 7.7 |   |
| Gains      on disposal of discontinued operations, net      of income taxes |   |               | -        |   |   |    | 6.3      |   |   |   | 2.8 |   |
|                                                                        |   |               |     |   |   |    |     |   |   |   |   |   |
| Net      (loss) earnings                                                    |   |               | (1,803.9 | )      |   |    | 3,696.6  |   |   |   | 1,936.5 |   |
| Less:      net earnings attributable to noncontrolling interest             |   |               | (358.9   | )      |   |    | (470.0   | )      |   |   | (702.9 | ) |
|                                                                        |   |               |     |   |   |    |     |   |   |   |   |   |
| Net      (Loss) Earnings Attributable to AXA Equitable                      |   | $             | (2,162.8 | )      |   | $  | 3,226.6  |   |   | $ | 1,233.6 |   |
|                                                                        |   |               |     |   |   |    |     |   |   |   |   |   |
|                                                                        |   |               |     |   |   |    |     |   |   |   |   |   |
| Amounts      attributable to AXA Equitable:                                 |   |               |     |   |   |    |     |   |   |   |   |   |
| (Loss)      earnings from continuing operations, net      of income taxes   |   | $             | (2,165.5 | )      |   | $       | 3,225.1  |   |   | $  | 1,223.1 |   |
| Earnings      (loss) from discontinued operations, net      of income taxes |   |               | 2.7      |   |   |    | (4.8     | )      |   |   | 7.7 |   |
| Gain      on disposal of discontinued operations, net      of income taxes  |   |               | -        |   |   |    | 6.3      |   |   |   | 2.8 |   |
| Net      (Loss) Earnings                                                    |   | $                  | (2,162.8 | )      |   | $       | 3,226.6  |   |   | $ | 1,233.6 |   |

----

|                                                                               |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                               |   | (In      Millions) |     |
| EQUITY                                                                             |   |               |     |
| AXA      Equitable’s equity:                                                 |   |               |     |   |   |   |     |   |   |
| Common      stock, at par value, beginning and end of year                         |   | $                  | 2.5      |   |   | $      | 2.5      |   |   | $ | 2.5 |   |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Capital      in excess of par value, beginning of year                             |   |               | 5,184.1  |   |   |   | 5,265.4  |   |   |   | 5,139.6 |   |
| Issuance      of AllianceBernstein Units to noncontrolling interest                |   |               | (54.5    | )      |   |   | -        |   |   |   | - |   |
| Changes      in capital in excess of par value                                     |   |               | 452.7    |   |   |   | (81.3    | )      |   |   | 125.8 |   |
| Capital      in excess of par value, end of year                                   |   |               | 5,582.3  |   |   |   | 5,184.1  |   |   |   | 5,265.4 |   |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Retained      earnings, beginning of year                                          |   |               | 8,412.6  |   |   |   | 5,186.0  |   |   |   | 4,507.6 |   |
| Net      (loss) earnings attributable to AXA Equitable                             |   |               | (2,162.8 | )      |   |   | 3,226.6  |   |   |   | 1,233.6 |   |
| Impact      of implementing new accounting guidance,net      of taxes              |   |               | 62.0     |   |   |   | -        |   |   |   | 44.8 |   |
| Dividends      on common stock                                                     |   |               | -        |   |   |   | -        |   |   |   | (600.0 | ) |
| Retained      earnings, end of year                                                |   |               | 6,311.8  |   |   |   | 8,412.6  |   |   |   | 5,186.0 |   |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Accumulated      other comprehensive loss, beginning of year                       |   |               | (2,235.6 | )      |   |   | (267.9   | )      |   |   | (167.3 | ) |
| Impact      of implementing new accounting guidance,net      of taxes              |   |               | (62.0    | )      |   |   | -        |   |   |   | - |   |
| Other      comprehensive income (loss) attributable toAXA      Equitable           |   |               | 1,261.9  |   |   |   | (1,967.7 | )      |   |   | (100.6 | ) |
| Accumulated      other comprehensive loss, end of year                             |   |               | (1,035.7 | )      |   |   | (2,235.6 | )      |   |   | (267.9 | ) |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Total      AXA Equitable’s equity, end of year                               |   |               | 10,860.9 |   |   |   | 11,363.6 |   |   |   | 10,186.0 |   |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Noncontrolling      interest, beginning of year                                    |   |               | 2,896.9  |   |   |   | 2,478.9  |   |   |   | 2,289.9 |   |
| Net      earnings attributable to noncontrolling interest                          |   |               | 358.9    |   |   |   | 470.0    |   |   |   | 702.9 |   |
| Other      comprehensive income (loss)attributable      to noncontrolling interest |   |               | 66.2     |   |   |   | (69.9    | )      |   |   | 9.8 |   |
| Issuance      of AllianceBernstein Units tononcontrolling      interest            |   |               | 65.2     |   |   |   | 32.5     |   |   |   | 48.5 |   |
| Exercise      of AB Put                                                            |   |               | 135.0    |   |   |   | 495.5    |   |   |   | - |   |
| Dividends      paid to noncontrolling interest                                     |   |               | (319.4   | )      |   |   | (562.6   | )      |   |   | (751.6 | ) |
| Capital      contributions                                                         |   |               | -        |   |   |   | 12.8     |   |   |   | - |   |
| Other      changes in noncontrolling interest                                      |   |               | 66.7     |   |   |   | 39.7     |   |   |   | 179.4 |   |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Noncontrolling      interest, end of year                                          |   |               | 3,269.5  |   |   |   | 2,896.9  |   |   |   | 2,478.9 |   |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Total      Equity, End of Year                                                     |   | $                  | 14,130.4 |   |   | $      | 14,260.5 |   |   | $ | 12,664.9 |   |

----

|                                                                             |   |
|----------------------------------------------------------------------------------|--------|
|                                                                             |   | 2009 |   |   | 2008 |   |   | 2007 |   |
|                                                                             |   | (In      Millions) |   |
|                                                                             |   |   |   |   |   |   |   |   |   |
| COMPREHENSIVE      (LOSS) INCOME                                                 |   |   |   |   |   |   |   |   |   |
| Net      (loss) earnings                                                         |   | $ | (1,803.9 | ) |   | $ | 3,696.6 |   |   | $ | 1,936.5 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Other      comprehensive (loss) income, net of income taxes:                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Change      in unrealized gains (losses), net ofreclassification      adjustment |   |   | 1,331.2 |   |   |   | (1,444.3 | ) |   |   | (168.8 | ) |
| Defined      benefit plans:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      (loss) gain arising during year                                         |   |   | (65.0 | ) |   |   | (620.4 | ) |   |   | 38.8 |   |
| Prior      service cost arising during year                                      |   |   | - |   |   |   | - |   |   |   | 1.7 |   |
| Less:      reclassification adjustment for:                                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Amortization      of net losses included in net periodic cost                    |   |   | 64.6 |   |   |   | 30.8 |   |   |   | 41.2 |   |
| Amortization      of net prior service creditincluded      in net periodic cost  |   |   | (2.7 | ) |   |   | (3.7 | ) |   |   | (3.6 | ) |
| Amortization      of net transition asset                                        |   |   | - |   |   |   | - |   |   |   | (.1 | ) |
| Other      comprehensive (loss) income – defined benefit plans             |   |   | (3.1 | ) |   |   | (593.3 | ) |   |   | 78.0 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive      (loss) income                                                 |   |   | (475.8 | ) |   |   | 1,659.0 |   |   |   | 1,845.7 |   |
|                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive      income attributable to noncontrolling interest                |   |   | (425.1 | ) |   |   | (400.1 | ) |   |   | (712.7 | ) |
| Comprehensive      (Loss) Income Attributable to AXA Equitable                   |   | $ | (900.9 | ) |   | $ | 1,258.9 |   |   | $ | 1,133.0 |   |

----

|                                                                                                 |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                 |   | (In      Millions) |     |
|                                                                                                 |   |               |     |
| Net      (loss) earnings                                                                             |   | $                  | (1,803.9 | )      |   | $      | 3,696.6  |   |   | $ | 1,936.5 |   |
| Adjustments      to reconcile net (loss) earnings to net cash provided      by operating activities: |   |               |     |   |   |   |     |   |   |   |   |   |
| Interest      credited to policyholders’ account balances                                      |   |               | 1,004.3  |   |   |   | 1,065.3  |   |   |   | 1,065.2 |   |
| Universal      life and investment-type product policy      fee income                               |   |               | (2,918.4 | )      |   |   | (2,951.7 | )      |   |   | (2,741.7 | ) |
| Net      change in broker-dealer and customer related      receivables/payables                      |   |               | (1,353.0 | )      |   |   | 618.9    |   |   |   | 98.5 |   |
| Change      in net investment income related to derivative instruments                               |   |               | 3,079.4  |   |   |   | (7,302.1 | )      |   |   | (86.6 | ) |
| Change      in reinsurance recoverable with affiliate                                                |   |               | 1,485.7  |   |   |   | (6,351.5 | )      |   |   | - |   |
| Investment      (gains) losses, net                                                                  |   |               | (53.7    | )      |   |   | 338.5    |   |   |   | 7.2 |   |
| Change      in segregated cash and securities, net                                                   |   |               | 1,586.8  |   |   |   | (202.6   | )      |   |   | (360.3 | ) |
| Change      in deferred policy acquisition costs                                                     |   |               | (860.3   | )      |   |   | 2,090.6  |   |   |   | (620.1 | ) |
| Change      in future policy benefits                                                                |   |               | (755.2   | )      |   |   | 2,398.0  |   |   |   | 95.4 |   |
| Change      in income taxes payable                                                                  |   |               | (1,223.2 | )      |   |   | 1,135.0  |   |   |   | 532.9 |   |
| Change      in fair value of guaranteed minimum income benefit reinsurance      contracts            |   |               | 2,565.9  |   |   |   | (1,566.8 | )      |   |   | (6.9 | ) |
| Amortization      of deferred sales commissions                                                      |   |               | 54.9     |   |   |   | 79.1     |   |   |   | 95.5 |   |
| Amortization      of reinsurance cost                                                                |   |               | 318.3    |   |   |   | 11.0     |   |   |   | - |   |
| Other      depreciation and amortization                                                             |   |               | 156.0    |   |   |   | 140.4    |   |   |   | 133.8 |   |
| Amortization      of other intangible assets, net                                                    |   |               | 24.1     |   |   |   | 23.7     |   |   |   | 23.2 |   |
| Gains      on disposal of discontinued operations                                                    |   |               | -        |   |   |   | (6.3     | )      |   |   | (2.8 | ) |
| Other,      net                                                                                      |   |               | 109.5    |   |   |   | (123.4   | )      |   |   | 167.6 |   |
|                                                                                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash provided by (used in) operating activities                                             |   |               | 1,417.2  |   |   |   | (6,907.3 | )      |   |   | 337.4 |   |
|                                                                                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| Cash      flows from investing activities:                                                           |   |               |     |   |   |   |     |   |   |   |   |   |
| Maturities      and repayments of fixed maturities and mortgage      loans on real estate            |   |               | 2,058.2  |   |   |   | 1,727.5  |   |   |   | 2,143.1 |   |
| Sales      of investments                                                                            |   |               | 6,737.3  |   |   |   | 796.2    |   |   |   | 2,356.5 |   |
| Sale      of AXA Equitable Life and Annuity                                                          |   |               | -        |   |   |   | 60.8     |   |   |   | - |   |
| Purchases      of investments                                                                        |   |               | (8,994.8 | )      |   |   | (2,106.8 | )      |   |   | (3,525.3 | ) |
| Cash      settlements related to derivative instruments                                              |   |               | (2,564.6 | )      |   |   | 5,337.0  |   |   |   | (98.3 | ) |
| Change      in short-term investments                                                                |   |               | 140.3    |   |   |   | 29.3     |   |   |   | 107.0 |   |
| Decrease      in loans to affiliates                                                                 |   |               | 1.1      |   |   |   | -        |   |   |   | 400.0 |   |
| Increase      in loans to affiliates                                                                 |   |               | (250.0   | )      |   |   | -        |   |   |   | (650.0 | ) |
| Change      in capitalized software, leasehold improvements and EDP      equipment                   |   |               | (120.7   | )      |   |   | (163.1   | )      |   |   | (205.0 | ) |
| Other,      net                                                                                      |   |               | 9.4      |   |   |   | 155.2    |   |   |   | (91.2 | ) |
|                                                                                                 |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash (used in) provided by investing activities                                             |   |               | (2,983.8 | )      |   |   | 5,836.1  |   |   |   | 436.8 |   |

----

|                                                     |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|----------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                     |   | (In      Millions) |     |
|                                                     |   |               |     |   |   |   |     |   |   |
| Cash      flows from financing activities:               |   |               |     |   |   |   |     |   |   |
| Policyholders’      account balances:              |   |               |     |   |   |   |     |   |   |
| Deposits                                                 |   | $                  | 3,394.9  |   |   | $      | 4,384.5  |   |   | $ | 4,102.1 |   |
| Withdrawals      from and transfers to Separate Accounts |   |               | (2,160.9 | )      |   |   | (2,602.8 | )      |   |   | (3,831.7 | ) |
| Change      in short-term financings                     |   |               | (35.8    | )      |   |   | (497.8   | )      |   |   | 199.0 |   |
| Increase      in collateralized pledged liabilities      |   |               | 126.1    |   |   |   | 568.7    |   |   |   | - |   |
| Increase      in collateralized pledged assets           |   |               | (632.3   | )      |   |   | -        |   |   |   | - |   |
| Proceeds      from loans from affiliates                 |   |               | -        |   |   |   | 1,000.0  |   |   |   | - |   |
| Capital      contribution                                |   |               | 438.9    |   |   |   | -        |   |   |   | - |   |
| Shareholder      dividends paid                          |   |               | -        |   |   |   | -        |   |   |   | (600.0 | ) |
| Other,      net                                          |   |               | (175.8   | )      |   |   | (551.4   | )      |   |   | (592.6 | ) |
|                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash provided by (used in) financing activities |   |               | 955.1    |   |   |   | 2,301.2  |   |   |   | (723.2 | ) |
|                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Change      in cash and cash equivalents                 |   |               | (611.5   | )      |   |   | 1,230.0  |   |   |   | 51.0 |   |
| Cash      and cash equivalents, beginning of year        |   |               | 2,403.2  |   |   |   | 1,173.2  |   |   |   | 1,122.2 |   |
|                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Cash      and Cash Equivalents, End of Year              |   | $                  | 1,791.7  |   |   | $      | 2,403.2  |   |   | $ | 1,173.2 |   |
|                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Supplemental      cash flow information:                 |   |               |     |   |   |   |     |   |   |   |   |   |
| Interest      Paid                                       |   | $                  | 16.6     |   |   | $      | 34.4     |   |   | $ | 52.6 |   |
| Income      Taxes Paid                                   |   | $                  | 43.8     |   |   | $      | 257.3    |   |   | $ | 178.1 |   |

----

| 1)   | ORGANIZATION |
|----------------|--------------|

----

----

|  ● | recharacterize      minority interests, previously classified within liabilities, as      noncontrolling interests reported as a component of consolidated equity on      the balance sheet, and to   |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  ● | include      total income in net income, with separate disclosure on the face of the      consolidated income statement of the attribution of income between      controlling and noncontrollinginterests. |

----

|  ● | The      acquirer will recognize 100% of the fair values of acquired assets and      assumed liabilities (with few exceptions) upon initially obtaining control      of the target company, and any noncontrolling interest; |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  ● | Contingent      consideration will be included in the purchase price consideration on a      fair value basis while transaction costs will be expensed as incurred;      and                                                 |
|  ● | Costs expected to be      incurred to effect a restructuring plan will be recognized as      post-combination expenses.                                                                                                 |

----

----

----

----

----

----

| Level      1 | Quoted      prices for identical instruments in active markets.  Level 1      fair values generally are supported by market transactions that occur with      sufficient frequency and volume to provide pricing information on an      ongoing basis.                                                                        |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Level      2 | Observable      inputs other than Level 1 prices, such as quoted prices for similar      instruments, quoted prices in markets that are not active, and inputs to      model-derived valuations that are directly observable or can be      corroborated by observable market data.                                                     |
| Level      3 | Unobservable      inputs supported by little or no market activity and often requiring      significant management judgment or estimation, such as an entity’s own      assumptions about the cash flows or other significant components of value      that market participants would use in pricing the asset or      liability. |

----

----

----

----

----

----

----

----

| ●       | Management      having the authority to approve the action commits the organization to a      plan to sell the property.                                                |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  ● | The      property is available for immediate sale in its present condition subject      only to terms that are usual and customary for the sale of such      assets.    |
|  ● | An      active program to locate a buyer and other actions required to complete      the plan to sell the asset have been initiated and are      continuing.            |
|  ● | The      sale of the asset is probable and transfer of the asset is expected to      qualify for recognition as a completed sale within one    year.                    |
|  ● | The      asset is being actively marketed for sale at a price that is reasonable in      relation to its current fair value.                                            |
|  ● | Actions      required to complete the plan indicate that it is unlikely that      significant changes to the plan will be made or that the plan will be      withdrawn. |

----

|                                 |   |               |     |       |   |   |       |   |   |            |    |   |             |   |
|--------------------------------------|--------|--------------------|----------|------------|--------|--------|------------|--------|--------|-----------------|---------|--------|------------------|--------|
|                                 |   |               |     | Gross      |   |   | Gross      |   |   |            |    |   |             |   |
|                                 |   | Amortized          |     | Unrealized |   |   | Unrealized |   |   |            |    |   | OTTI             |   |
|                                 |   | Cost               |     | Gains      |   |   | Losses     |   |   | Fair      Value |    |   | in      AOCI (3) |   |
|                                 |   | (In      Millions) |     |
|                                 |   |               |     |       |   |   |       |   |   |            |    |   |             |   |   |
| December 31, 2009:                   |   |               |     |       |   |   |       |   |   |            |    |   |             |   |   |
| Fixed      Maturities:               |   |               |     |       |   |   |       |   |   |            |    |   |             |   |   |
| Corporate                            |   | $                  | 19,437.7 |       |   | $      | 991.5      |   |   | $               | 235.1   |   |             | $      | 20,194.1 |   |   | $ | .7 |   |
| U.S.      Treasury, government       |   |               |     |       |   |   |       |   |   |            |    |   |             |   |   |   |   |   |   |   |
| and      agency                      |   |               | 1,830.1  |       |   |   | 12.4       |   |   |            | 152.5   |   |             |   | 1,690.0 |   |   |   | - |   |
| States      and political            |   |               |     |       |   |   |       |   |   |            |    |   |             |   |   |   |   |   |   |   |
| subdivisions                         |   |               | 388.6    |       |   |   | 7.3        |   |   |            | 14.2    |   |             |   | 381.7 |   |   |   | - |   |
| Foreign      governments             |   |               | 270.4    |       |   |   | 32.0       |   |   |            | .1      |   |             |   | 302.3 |   |   |   | - |   |
| Commercial      mortgage-backed      |   |               | 1,979.6  |       |   |   | 2.2        |   |   |            | 492.0   |   |             |   | 1,489.8 |   |   |   | 1.8 |   |
| Residential      mortgage-backed (1) |   |               | 1,604.6  |       |   |   | 46.2       |   |   |            | .2      |   |             |   | 1,650.6 |   |   |   | - |   |
| Asset-backed      (2)                |   |               | 278.2    |       |   |   | 10.9       |   |   |            | 21.4    |   |             |   | 267.7 |   |   |   | 7.9 |   |
| Redeemable      preferred stock      |   |               | 1,707.6  |       |   |   | 8.5        |   |   |            | 222.1   |   |             |   | 1,494.0 |   |   |   | - |   |
| Total      Fixed Maturities          |   |               | 27,496.8 |       |   |   | 1,111.0    |   |   |            | 1,137.6 |   |             |   | 27,470.2 |   |   |   | 10.4 |   |
|                                 |   |               |     |       |   |   |       |   |   |            |    |   |             |   |   |   |   |   |   |   |
| Equity      securities               |   |               | 43.9     |       |   |   | 9.7        |   |   |            | -       |   |             |   | 53.6 |   |   |   | - |   |
|                                 |   |               |     |       |   |   |       |   |   |            |    |   |             |   |   |   |   |   |   |   |
| Total      at December 31, 2009      |   | $                  | 27,540.7 |       |   | $      | 1,120.7    |   |   | $               | 1,137.6 |   |             | $      | 27,523.8 |   |   | $ | 10.4 |   |
|                                 |   |               |     |

| December 31, 2008                    |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |
|--------------------------------------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|---------|--------|--------|--------|----------|
| Fixed      Maturities:               |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |
| Corporate                            |   | $      | 18,696.8 |   |   | $      | 232.2  |   |   | $      | 1,713.9 |   |   | $      | 17,215.1 |   |   |   |   |   |
| U.S.      Treasury, government       |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |   |   |   |   |
| and      agency                      |   |   | 1,054.7  |   |   |   | 279.5  |   |   |   | -       |   |   |   | 1,334.2  |   |   |   |   |   |
| States      and political            |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |   |   |   |   |
| subdivisions                         |   |   | 181.5    |   |   |   | 12.0   |   |   |   | 9.1     |   |   |   | 184.4    |   |   |   |   |   |
| Foreign      governments             |   |   | 214.3    |   |   |   | 37.3   |   |   |   | 5.6     |   |   |   | 246.0    |   |   |   |   |   |
| Commercial      mortgage-backed      |   |   | 2,215.5  |   |   |   | 4.0    |   |   |   | 544.8   |   |   |   | 1,674.7  |   |   |   |   |   |
| Residential      mortgage-backed (1) |   |   | 1,679.0  |   |   |   | 60.5   |   |   |   | .4      |   |   |   | 1,739.1  |   |   |   |   |   |
| Asset-backed      (2)                |   |   | 348.3    |   |   |   | 12.1   |   |   |   | 34.7    |   |   |   | 325.7    |   |   |   |   |   |
| Redeemable      preferred stock      |   |   | 1,820.9  |   |   |   | 1.0    |   |   |   | 710.1   |   |   |   | 1,111.8  |   |   |   |   |   |
| Total      Fixed Maturities          |   |   | 26,211.0 |   |   |   | 638.6  |   |   |   | 3,018.6 |   |   |   | 23,831.0 |   |   |   |   |   |
|                                 |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |   |   |   |   |
| Equity      securities               |   |   | 31.7     |   |   |   | -      |   |   |   | 4.9     |   |   |   | 26.8     |   |   |   |   |   |
|                                 |   |   |     |   |   |   |   |   |   |   |    |   |   |   |     |   |   |   |   |   |
| Total      at December 31, 2008      |   | $      | 26,242.7 |   |   | $      | 638.6  |   |   | $      | 3,023.5 |   |   | $      | 23,857.8 |   |   |   |   |   |

| (1)   | Includes      publicly traded agency pass-through securities and collateralized mortgage      obligations |
|-----------------|-----------------------------------------------------------------------------------------------------------|

| (2)   | Includes      credit-tranched securities collateralized by sub-prime mortgages and other      asset types and credit tenant loans |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------|

| (3)   | Amounts      represent OTTI losses in AOCI, which were not included in earnings as      a result of  the adoption of new guidance on April 1,      2009. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                        | Available      for Sale |   |
|---------------------------------------------|-------------------------|--------|
|                                        | Amortized               |   |   |   |
|                                        | Cost                    |   | Fair      Value |   |
|                                        | (In      Millions)      |   |
|                                        |                    |   |
| Due      in one year or less                |                    | $      | 874.9 |   |   | $ | 898.9 |   |
| Due      in years two through five          |                    |   | 8,840.9 |   |   |   | 9,275.7 |   |
| Due      in years six through ten           |                    |   | 7,875.1 |   |   |   | 8,093.2 |   |
| Due      after ten years                    |                    |   | 4,335.9 |   |   |   | 4,300.3 |   |
| Subtotal                                    |                    |   | 21,926.8 |   |   |   | 22,568.1 |   |
| Commercial      mortgage-backed bonds  |                    |   | 1,979.6 |   |   |   | 1,489.8 |   |
| Residential      mortgage-backed bonds      |                    |   | 1,604.6 |   |   |   | 1,650.6 |   |
| Asset-backed      bonds                     |                    |   | 278.2 |   |   |   | 267.7 |   |
| Total                                       |                    | $      | 25,789.2 |   |   | $ | 25,976.2 |   |

| Balance      at March 31, 2009                                                                   |   | $      | -      |   |
|--------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| Cumulative      adjustment related to implementing new guidance on April 1,      2009            |   |   | (121.7 | )      |
| Impact      of Consolidation of Wind-up Annuities business                                       |   |   | (5.6   | )      |
| Previously      recognized impairments on securities that matured, paid, prepaid or      sold    |   |   | 147.2  |   |
| Previously      recognized impairments on securities impaired to fair value this period      (1) |   |   | -      |   |
| Impairments      recognized this period on securities not previously    impaired                 |   |   | (143.3 | )      |
| Additional      impairments this period on securities previously impaired                        |   |   | (22.1  | )      |
| Increases      due to passage of time on previously recorded creditlosses                        |   |   | -      |   |
| Accretion      of previously recognized impairments due to increases in expected cash      flows |   |   | -      |   |
| Balance      at December 31, 2009                                                                |   | $      | (145.5 | )      |

| (1)         | Represents      circumstances where the Company determined in the current period that it      intends to sell the security or it is more likely than not that it will be      required to sell the security before recovery of the security’s amortized      cost. |
|-----------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                       | December      31,  |   | December      31, |   |
|----------------------------|--------------------|--------|-------------------|--------|
|                       | 2009               |   | 2008              |   |
|                       | (In      Millions) |   |
|                       |               |   |
| AFS      Securities:       |               |   |              |   |   |   |
| Fixed      maturities:     |               |   |              |   |   |   |
| With      OTTI loss        |               | $      | (10.9             | )      |   | $ | - |   |
| All      other             |               |   | (15.7             | )      |   |   | (2,380.0 | ) |
| Equity      securities     |               |   | 9.7               |   |   |   | (4.9 | ) |
| Net      Unrealized Losses |               | $      | (16.9             | )      |   | $ | (2,384.9 | ) |

|                                                                      |   |               |   |   |   |   |   |          |   |   |        |   |   | AOCI                |   |
|---------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|---------------|--------|--------|-------------|--------|--------|---------------------|--------|
|                                                                      |   | Net                |   |   |   |   |   |          |   |   | Deferred    |   |   | (Loss)              |   |
|                                                                      |   | Unrealized         |   |   |   |   |   |          |   |   | Income      |   |   | Related      to Net |   |
|                                                                      |   | Gains              |   |   |   |   |   |          |   |   | Tax         |   |   | Unrealized          |   |
|                                                                      |   | (Losses)      on   |   |   |   |   |   | Policyholders |   |   | (Liability) |   |   | Investment          |   |
|                                                                      |   | Investments        |   |   | DAC    |   |   | Liabilities   |   |   | Asset       |   |   | Gains      (Losses) |   |
|                                                                      |   | (In      Millions) |   |
|                                                                      |   |               |   |   |   |   |   |          |   |   |        |   |   |                |   |
| Balance,      January 1, 2009                                             |   | $                  | -      |   |   | $      | -      |          |   | $      | -           |   |   | $                   | -      |   |   | $ | - |   |
| Cumulative      impact of implementing new      guidance on April 1, 2009 |   |               | (7.0   | )      |   |   | .8     |          |   |   | -           |   |   |                | 2.2    |   |   |   | (4.0 | ) |
| Net      investment gains (losses) arising      during the period         |   |               | (21.4  | )      |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (21.4 | ) |
| Reclassification      adjustment for OTTI (losses):                       |   |               |   |   |   |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| Included      in Net (loss) earnings                                      |   |               | 22.1   |   |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | 22.1 |   |
| Excluded      from Net (loss)      earnings (1)                           |   |               | (4.6   | )      |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (4.6 | ) |
| Impact      of net unrealized investment gains (losses) on:               |   |               |   |   |   |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| DAC                                                                       |   |               | -      |   |   |   | 4.8    |          |   |   | -           |   |   |                | -      |   |   |   | 4.8 |   |
| Deferred      income taxes                                                |   |               | -      |   |   |   | -      |          |   |   | -           |   |   |                | (.3    | ) |   |   | (.3 | ) |
| Policyholders      liabilities                                            |   |               | -      |   |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | - |   |
| Impact      of consolidation of Wind-up Annuity business                  |   |               | -      |   |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | - |   |
| Balance,      December 31, 2009                                           |   | $                  | (10.9  | )      |   | $      | 5.6    |          |   | $      | -           |   |   | $                   | 1.9    |   |   | $ | (3.4 | ) |
|                                                                      |   |               |   |   |   |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |

| (1)    | Represents      “transfers in” related to the portion of OTTI losses recognized during the      period that were not recognized in earnings for securities with no prior      OTTI loss. |
|-----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                      |   |               |     |    |   |   |   |          |   |   |        |   |   | AOCI                |   |
|---------------------------------------------------------------------------|--------|--------------------|----------|---------|--------|--------|--------|---------------|--------|--------|-------------|--------|--------|---------------------|--------|
|                                                                      |   | Net                |     |    |   |   |   |          |   |   | Deferred    |   |   | (Loss)              |   |
|                                                                      |   | Unrealized         |     |    |   |   |   |          |   |   | Income      |   |   | Related      to Net |   |
|                                                                      |   | Gains              |     |    |   |   |   |          |   |   | Tax         |   |   | Unrealized          |   |
|                                                                      |   | (Losses)      on   |     |    |   |   |   | Policyholders |   |   | (Liability) |   |   | Investment          |   |
|                                                                      |   | Investments        |     |    | DAC    |   |   | Liabilities   |   |   | Asset       |   |   | Gains      (Losses) |   |
|                                                                      |   | (In      Millions) |     |
|                                                                      |   |               |     |    |   |   |   |          |   |   |        |   |   |                |   |
| Balance      January 1, 2009                                              |   | $                  | (2,384.9 | )       |   | $      | 553.6  |          |   | $      | -           |   |   | $                   | 681.3  |   |   | $ | (1,150.0 | ) |
| Cumulative      impact of implementing new      guidance on April 1, 2009 |   |               | (108.5   | )       |   |   | 19.2   |          |   |   | -           |   |   |                | 31.2   |   |   |   | (58.1 | ) |
| Net      investment gains (losses)arising      during the period          |   |               | 2,657.4  |    |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | 2,657.4 |   |
| Reclassification      adjustment for OTTI      (losses):                  |   |               |     |    |   |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| Included      in Net (loss) earnings                                      |   |               | (115.1   | )       |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (115.1 | ) |
| Excluded      from Net(loss)      earnings (1)                            |   |               | 4.6      |    |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | 4.6 |   |
| Impact      of net unrealized investment gains      (losses) on:          |   |               |     |    |   |   |   |          |   |   |        |   |   |                |   |   |   |   |   |   |
| DAC                                                                       |   |               | -        |    |   |   | (601.7 | )             |   |   | -           |   |   |                | -      |   |   |   | (601.7 | ) |
| Deferred      income taxes                                                |   |               | -        |    |   |   | -      |          |   |   | -           |   |   |                | (715.0 | ) |   |   | (715.0 | ) |
| Policyholders      liabilities                                            |   |               | -        |    |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | - |   |
| Impact      of consolidation of Wind-upAnnuities      business            |   |               | (59.6    | )  |   |   | -      |          |   |   | -           |   |   |                | -      |   |   |   | (59.6 | )  |
| Balance,      December 31, 2009                                           |   | $                  | (6.1     | )       |   | $      | (28.9  | )             |   | $      | -           |   |   | $                   | (2.5   | )  |   | $ | (37.5 | ) |

|   | (1)   | Represents      “transfers out” related to the portion of OTTI losses during the period      that were not recognized in earnings for securities with no prior OTTI      loss. |
|--------|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                   |   | December      31, 2009       |    |
|----------------------------------------|--------|------------------------------|---------|
|                                   |   | Less      Than 12 Months (1) |    |   | 12      Months or Longer (1) |   |   | Total |   |
|                                   |   |                         |    |   | Gross |   |   |   |   |   | Gross |   |   |   |   |   | Gross |   |
|                                   |   |                         |    |   | Unrealized |   |   |   |   |   | Unrealized |   |   |   |   |   | Unrealized |   |
|                                   |   | Fair      Value              |    |   | Losses |   |   | Fair      Value |   |   | Losses |   |   | Fair      Value |   |   | Losses |   |
|                                   |   | (In      Millions)           |    |
|                                   |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      Maturities:                 |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                              |   | $                            | 2,043.5 |   |   | $ | (53.9 | ) |   | $ | 2,022.3 |   |   | $ | (181.2 | ) |   | $ | 4,065.8 |   |   | $ | (235.1 | ) |
| U.S.      Treasury,                    |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| government      and agency             |   |                         | 1,591.7 |   |   |   | (152.4 | ) |   |   | - |   |   |   | - |   |   |   | 1,591.7 |   |   |   | (152.4 | ) |
| States      and political subdivisions |   |                         | 209.7   |   |   |   | (10.5 | ) |   |   | 23.5 |   |   |   | (3.7 | ) |   |   | 233.2 |   |   |   | (14.2 | ) |
| Foreign      governments               |   |                         | 41.0    |   |   |   | (.1 | ) |   |   | 5.1 |   |   |   | - |   |   |   | 46.1 |   |   |   | (.1 | ) |
| Commercial      mortgage-backed        |   |                         | 33.6    |   |   |   | (15.7 | ) |   |   | 1,348.8 |   |   |   | (476.2 | ) |   |   | 1,382.4 |   |   |   | (491.9 | ) |
| Residential      mortgage-backed       |   |                         | 54.1    |   |   |   | (.1 | ) |   |   | 2.4 |   |   |   | (.2 | ) |   |   | 56.5 |   |   |   | (.3 | ) |
| Asset-backed                           |   |                         | 48.6    |   |   |   | (8.5 | ) |   |   | 68.6 |   |   |   | (12.9 | ) |   |   | 117.2 |   |   |   | (21.4 | ) |
| Redeemable                             |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| preferred      stock                   |   |                         | 51.2    |   |   |   | (6.6 | ) |   |   | 1,283.3 |   |   |   | (215.6 | ) |   |   | 1,334.5 |   |   |   | (222.2 | ) |
|                                   |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                  |   | $                            | 4,073.4 |   |   | $ | (247.8 | ) |   | $ | 4,754.0 |   |   | $ | (889.8 | ) |   | $ | 8,827.4 |   |   | $ | (1,137.6 | ) |

|   | (1) | The      month count for aging of unrealized losses was reset back to historical      unrealized loss month counts for securities impacted by the adoption of      new guidance on April 1, 2009. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                   |   | December      31, 2008   |    |
|----------------------------------------|--------|--------------------------|---------|
|                                   |   | Less      Than 12 Months |    |   | 12      Months or Longer |   |   | Total |   |
|                                   |   |                     |    |   | Gross |   |   |   |   |   | Gross |   |   |   |   |   | Gross |   |
|                                   |   |                     |    |   | Unrealized |   |   |   |   |   | Unrealized |   |   |   |   |   | Unrealized |   |
|                                   |   | Fair      Value          |    |   | Losses |   |   | Fair      Value |   |   | Losses |   |   | Fair      Value |   |   | Losses |   |
|                                   |   | (In      Millions)       |    |
|                                   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed      Maturities:                 |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate                              |   | $                        | 8,475.3 |   |   | $ | (985.0 | ) |   | $ | 3,489.6 |   |   | $ | (728.9 | ) |   | $ | 11,964.9 |   |   | $ | (1,713.9 | ) |
| U.S.      Treasury,                    |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| government      and agency             |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| States      and political subdivisions |   |                     | 52.2    |   |   |   | (6.6 | ) |   |   | 17.7 |   |   |   | (2.5 | ) |   |   | 69.9 |   |   |   | (9.1 | ) |
| Foreign      governments               |   |                     | 70.0    |   |   |   | (5.6 | ) |   |   | - |   |   |   | - |   |   |   | 70.0 |   |   |   | (5.6 | ) |
| Commercial      mortgage-backed        |   |                     | 308.7   |   |   |   | (19.4 | ) |   |   | 1,342.5 |   |   |   | (525.4 | ) |   |   | 1,651.2 |   |   |   | (544.8 | ) |
| Residential      mortgage-backed       |   |                     | .1      |   |   |   | - |   |   |   | 3.7 |   |   |   | (.5 | ) |   |   | 3.8 |   |   |   | (.5 | ) |
| Asset-backed                           |   |                     | 71.1    |   |   |   | (6.7 | ) |   |   | 63.5 |   |   |   | (28.0 | ) |   |   | 134.6 |   |   |   | (34.7 | ) |
| Redeemable                             |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| preferred      stock                   |   |                     | 510.0   |   |   |   | (343.5 | ) |   |   | 521.8 |   |   |   | (366.6 | ) |   |   | 1,031.8 |   |   |   | (710.1 | ) |
|                                   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                  |   | $                        | 9,487.4 |   |   | $ | (1,366.8 | ) |   | $ | 5,438.8 |   |   | $ | (1,651.9 | ) |   | $ | 14,926.2 |   |   | $ | (3,018.7 | ) |

----

----

|                                 |   | 2008               |   |   | 2007   |   |
|--------------------------------------|--------|--------------------|--------|--------|--------|--------|
|                                 |   | (In      Millions) |   |
| Balances,      beginning of year     |   | $                  | 1.4    |   |   | $      | 21.0 |   |
| Additions      charged to income     |   |               | -      |   |   |   | 20.9 |   |
| Deductions      for writedowns and   |   |               |   |   |   |   |   |   |
| asset      dispositions              |   |               | (1.4   | )      |   |   | (40.5 | ) |
| Balances,      End of Year           |   | $                  | -      |   |   | $      | 1.4 |   |
|                                 |   |               |   |   |   |   |   |   |
| Balances,      end of year comprise: |   |               |   |   |   |   |   |   |
| Mortgage      loans on real estate   |   | $                  | -      |   |   | $      | 1.4 |   |
| Total                                |   | $                  | -      |   |   | $      | 1.4 |   |

----

|                                                                     |   | December      31,  |   |
|--------------------------------------------------------------------------|--------|--------------------|--------|
|                                                                     |   | 2009               |   |   | 2008 |   |
|                                                                     |   | (In      Millions) |   |
|                                                                     |   |               |   |
| BALANCE      SHEETS                                                      |   |               |   |   |   |   |
| Investments      in real estate, at depreciated cost                     |   | $                  | 546.6  |   |   | $ | 318.2 |   |
| Investments      in securities, generally at fair value                  |   |               | 33.9   |   |   |   | 47.3 |   |
| Cash      and cash equivalents                                           |   |               | 20.6   |   |   |   | 7.8 |   |
| Other      assets                                                        |   |               | .8     |   |   |   | 8.7 |   |
| Total      Assets                                                        |   | $                  | 601.9  |   |   | $ | 382.0 |   |
|                                                                     |   |               |   |   |   |   |   |   |
| Borrowed      funds - third party                                        |   | $                  | 309.5  |   |   | $ | 190.3 |   |
| Other      liabilities                                                   |   |               | 15.1   |   |   |   | 3.1 |   |
| Total      liabilities                                                   |   |               | 324.6  |   |   |   | 193.4 |   |
|                                                                     |   |               |   |   |   |   |   |   |
| Partners’      capital                                             |   |               | 277.3  |   |   |   | 188.6 |   |
| Total      Liabilities and Partners’ Capital                       |   | $                  | 601.9  |   |   | $ | 382.0 |   |
|                                                                     |   |               |   |   |   |   |   |   |
| The      Company’s Carrying Value in Those Entities Included Above |   | $                  | 155.4  |   |   | $ | 110.6 |   |

|                                                                                         |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|----------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                         |   | (In      Millions) |   |
|                                                                                         |   |               |   |
| STATEMENTS      OF EARNINGS                                                                  |   |               |   |   |   |   |   |   |   |
| Revenues      of real estate joint ventures                                                  |   | $                  | 30.3   |   |   | $      | 59.9   |   |   | $ | 77.5 |   |
| Net      revenues of other limited partnership interests                                     |   |               | (5.4   | )      |   |   | -      |   |   |   | 15.3 |   |
| Interest      expense – third party                                                    |   |               | (6.8   | )      |   |   | (14.1  | )      |   |   | (18.2 | ) |
| Other      expenses                                                                          |   |               | (17.4  | )      |   |   | (37.3  | )      |   |   | (43.8 | ) |
| Net      Earnings                                                                            |   | $                  | .7     |   |   | $      | 8.5    |   |   | $ | 30.8 |   |
|                                                                                         |   |               |   |   |   |   |   |   |   |   |   |   |
| The      Company’s Equity in Net (Loss) Earnings of Those      Entities Included Above |   | $                  | (2.4   | )      |   | $      | 12.3   |   |   | $ | 24.6 |   |

----

|                                   |   |           |     |   | Fair      Value    |   |    |                 |   |
|----------------------------------------|--------|----------------|----------|--------|--------------------|--------|---------|----------------------|--------|
|                                   |   | NotionalAmount |     |   | AssetDerivatives   |   |    | LiabilityDerivatives |   |   | Gains      (Losses) Reported InNet      (Loss)Earnings |   |
|                                   |   |           |     |   | (In      Millions) |   |    |                 |   |   |   |   |
| Freestanding      derivatives:         |   |           |     |   |               |   |    |                 |   |   |   |   |
| Equity      contracts(1):              |   |           |     |   |               |   |    |                 |   |   |   |   |
| Futures                                |   | $              | 3,399.4  |   |               | $      | -       |                 |   | $ | - |   |   | $ | (1,141.5 | ) |
| Swaps                                  |   |           | 801.0    |   |               |   | .8      |                 |   |   | 19.1 |   |   |   | (270.7 | ) |
| Options                                |   |           | 11,650.0 |   |               |   | 920.1   |                 |   |   | 1,138.6 |   |   |   | (817.6 | ) |
|                                   |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| Interest      rate contracts (1): |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| Floors                                 |   |           | 15,000.0 |   |               |   | 299.6   |                 |   |   | - |   |   |   | (128.2 | ) |
| Swaps                                  |   |           | 2,100.0  |   |               |   | 86.2    |                 |   |   | 24.8 |   |   |   | (178.4 | ) |
| Futures                                |   |           | 3,790.9  |   |               |   | -       |                 |   |   | - |   |   |   | (526.1 | ) |
| Swaptions                              |   |           | 1,200.0  |   |               |   | 44.6    |                 |   |   | - |   |   |   | (16.9 | ) |
|                                   |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| Other      freestanding contracts (2): |   |           | -        |   |               |   | -       |                 |   |   | - |   |   |   | - |   |
|                                   |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| Net      investment loss               |   |           |     |   |               |   |    |                 |   |   |   |   |   |   | (3,079.4 | ) |
|                                   |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| Embedded      derivatives:             |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| GMIB      reinsurance contracts(2)     |   |           | -        |   |               |   | 2,255.8 |                 |   |   | - |   |   |   | (2,565.9 | ) |
|                                   |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| GWBL      features (3)                 |   |           | -        |   |               |   | -       |                 |   |   | 54.9 |   |   |   | 217.7 |   |
|                                   |   |           |     |   |               |   |    |                 |   |   |   |   |   |   |   |   |
| Balances,      Dec. 31, 2009           |   | $              | 37,941.3 |   |               | $      | 3,607.1 |                 |   | $ | 1,237.4 |   |   | $ | (5,427.9 | ) |

| (1)   | Reported      in Other invested assets in the consolidated balance      sheets. |
|-----------------|-------------------------------------------------------------------------------------------|
| (2)   | Reported      in Other assets in the consolidated balance  sheets. |
|-----------------|--------------------------------------------------------------------|

| (3)   | Reported      in Future policy benefits and other policyholder    liabilities. |
|-----------------|--------------------------------------------------------------------------------|

| 4) | GOODWILL      AND OTHER INTANGIBLE ASSETS |
|----|-------------------------------------------|

----

----

|                                                                                                                       |   | December      31,  |    |
|----------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                                                       |   | 2009               |    |   | 2008 |   |
|                                                                                                                       |   | (In      Millions) |    |
|                                                                                                                       |   |               |    |   |   |   |
| CLOSED      BLOCK LIABILITIES:                                                                                             |   |               |    |   |   |   |
| Future      policy benefits, policyholders’ account balances and other                                               |   | $                  | 8,411.7 |   |   | $ | 8,544.8 |   |
| Other      liabilities                                                                                                     |   |               | 69.8    |   |   |   | 71.3 |   |
| Total      Closed Block liabilities                                                                                        |   |               | 8,481.5 |   |   |   | 8,616.1 |   |
|                                                                                                                       |   |               |    |   |   |   |   |   |
| ASSETS      DESIGNATED TO THE CLOSED BLOCK:                                                                                |   |               |    |   |   |   |   |   |
| Fixed      maturities, available for sale, at fair value (amortized cost      of$5,575.5      and $5,517.6)                |   |               | 5,631.2 |   |   |   | 5,041.5 |   |
| Mortgage      loans on real estate                                                                                         |   |               | 1,028.5 |   |   |   | 1,107.1 |   |
| Policy      loans                                                                                                          |   |               | 1,157.5 |   |   |   | 1,180.3 |   |
| Cash      and other invested assets                                                                                        |   |               | 68.2    |   |   |   | 104.2 |   |
| Other      assets                                                                                                          |   |               | 264.1   |   |   |   | 472.4 |   |
| Total      assets designated to the Closed Block                                                                           |   |               | 8,149.5 |   |   |   | 7,905.5 |   |
|                                                                                                                       |   |               |    |   |   |   |   |   |
| Excess      of Closed Block liabilities over assets designated tothe      Closed Block                                     |   |               | 332.0   |   |   |   | 710.6 |   |
|                                                                                                                       |   |               |    |   |   |   |   |   |
| Amounts      included in accumulated other comprehensive income:                                                           |   |               |    |   |   |   |   |   |
| Net      unrealized investment gains (losses), net of deferred income      tax(expense)      benefit of $(23.4) and $166.4 |   |               | 43.6    |   |   |   | (309.2 | ) |
|                                                                                                                       |   |               |    |   |   |   |   |   |
| Maximum      Future Earnings To Be Recognized From                                                                         |   |               |    |   |   |   |   |   |
| Closed      Block Assets and Liabilities                                                                                   |   | $                  | 375.6   |   |   | $ | 401.4 |   |

----

|                                                              |   | 2009               |   |   | 2008  |   |   |  2007 |   |
|-------------------------------------------------------------------|--------|--------------------|--------|--------|------------|--------|--------|------------|--------|
|                                                              |   | (In      Millions) |
| REVENUES:                                                         |   |               |   |   |       |   |   |       |   |
| Premiums      and other income                                    |   | $                  | 381.9  |   |       | $      | 392.6  |       |   | $ | 409.6 |   |
| Investment      income (net of investment                         |   |               |   |   |       |   |   |       |   |   |   |   |
| expenses      of $.1, $1.1, and $.2)                              |   |               | 481.6  |   |       |   | 496.0  |       |   |   | 501.8 |   |
| Investment      (losses) gains, net:Total      OTTI losses        |   |               | (10.0  | )      |       |   | (45.8  | )          |   |   | (3.0 | ) |
| Portion      of loss recognized inother      comprehensive income |   |               | .2     |   |       |   | -      |       |   |   |   |   |
| Net      impairment losses recognized                             |   |               | (9.8   | )      |       |   | (45.8  | )          |   |   | (3.0 | ) |
| Other      investment gains (losses), net                         |   |               | .4     |   |       |   | (1.7   | )          |   |   | 10.9 |   |
| Total      investment (losses) gains, net                         |   |               | (9.4   | )      |       |   | (47.5  | )          |   |   | 7.9 |   |
| Total      revenues                                               |   |               | 854.1  |   |       |   | 841.1  |       |   |   | 919.3 |   |
|                                                              |   |               |   |   |       |   |   |       |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS:                               |   |               |   |   |       |   |   |       |   |   |   |   |
| Policyholders’      benefits and dividends                  |   |               | 811.7  |   |       |   | 818.7  |       |   |   | 828.2 |   |
| Other      operating costs and expenses                           |   |               | 2.6    |   |       |   | 7.4    |       |   |   | 2.7 |   |
| Total      benefits and other deductions                          |   |               | 814.3  |   |       |   | 826.1  |       |   |   | 830.9 |   |
|                                                              |   |               |   |   |       |   |   |       |   |   |   |   |
| Net      revenues before income taxes                             |   |               | 39.8   |   |       |   | 15.0   |       |   |   | 88.4 |   |
| Income      tax expense                                           |   |               | (14.0  | )      |       |   | (5.2   | )          |   |   | (31.0 | ) |
| Net      Revenues                                                 |   | $                  | 25.8   |   |       | $      | 9.8    |       |   | $ | 57.4 |   |

|                                                | December      31,  |   |
|-----------------------------------------------------|--------------------|--------|
|                                                | 2009               |   | 2008 |   |
|                                                | (In      Millions) |   |
|                                                |               |   |
| Balance,      beginning of year                     |               | $      | 807.9 |   |   | $ | 754.2 |   |
| Contractholder      bonus interest credits deferred |               |   | 60.6 |   |   |   | 137.6 |   |
| Amortization      charged to income                 |               |   | (73.6 | ) |   |   | (83.9 | ) |
| Balance,      End of Year                           |               | $      | 794.9 |   |   | $ | 807.9 |   |

----

| 7) | FAIR      VALUE DISCLOSURES |
|----|-----------------------------|

|                                       |   | Level      1       |     |   | Level      2 |   |     | Level      3 |   |   | Total   |   |
|--------------------------------------------|--------|--------------------|----------|--------|--------------|--------|----------|--------------|--------|--------|---------|--------|
|                                       |   | (In      Millions) |     |
| Assets                                     |   |               |     |   |         |   |     |         |   |   |    |   |
| Investments:                               |   |               |     |   |         |   |     |         |   |   |    |   |
| Fixed      maturities, available-for-sale: |   |               |     |   |         |   |     |         |   |   |    |   |
| Corporate                                  |   | $                  | -        |   |         | $      | 19,728.5 |         |   | $      | 465.6   |   |   | $ | 20,194.1 |   |
| U.S.      Treasury, government             |   |               |     |   |         |   |     |         |   |   |    |   |   |   |   |   |
| and      agency                            |   |               | -        |   |         |   | 1,690.0  |         |   |   | -       |   |   |   | 1,690.0 |   |
| States      and political subdivisions     |   |               | -        |   |         |   | 334.3    |         |   |   | 47.4    |   |   |   | 381.7 |   |
| Foreign      governments                   |   |               | -        |   |         |   | 281.6    |         |   |   | 20.7    |   |   |   | 302.3 |   |
| Commercial      mortgage-backed(1)         |   |               | -        |   |         |   | -        |         |   |   | 1,489.8 |   |   |   | 1,489.8 |   |
| Residential      mortgage-backed(1)        |   |               | -        |   |         |   | 1,650.6  |         |   |   | -       |   |   |   | 1,650.6 |   |
| Asset-backed(2)                            |   |               | -        |   |         |   | 50.6     |         |   |   | 217.1   |   |   |   | 267.7 |   |
| Redeemable      preferred stock            |   |               | 190.6    |   |         |   | 1,291.0  |         |   |   | 12.4    |   |   |   | 1,494.0 |   |
| Subtotal                                   |   |               | 190.6    |   |         |   | 25,026.6 |         |   |   | 2,253.0 |   |   |   | 27,470.2 |   |
| Other      equity investments              |   |               | 90.3     |   |         |   | -        |         |   |   | .9      |   |   |   | 91.2 |   |
| Trading      securities                    |   |               | 423.0    |   |         |   | 60.9     |         |   |   | .7      |   |   |   | 484.6 |   |
| Other      invested assets                 |   |               | -        |   |         |   | (36.3    | )            |   |   | 299.6   |   |   |   | 263.3 |   |
| Cash      equivalents                      |   |               | 1,366.5  |   |         |   | -        |         |   |   | -       |   |   |   | 1,366.5 |   |
| Segregated      securities                 |   |               | -        |   |         |   | 985.7    |         |   |   | -       |   |   |   | 985.7 |   |
| GMIB      reinsurance contracts            |   |               | -        |   |         |   | -        |         |   |   | 2,255.8 |   |   |   | 2,255.8 |   |
| Separate      Accounts’ assets       |   |               | 82,102.3 |   |         |   | 1,684.5  |         |   |   | 229.7   |   |   |   | 84,016.5 |   |
| Total      Assets                          |   | $                  | 84,172.7 |   |         | $      | 27,721.4 |         |   | $      | 5,039.7 |   |   | $ | 116,933.8 |   |
|                                       |   |               |     |   |         |   |     |         |   |   |    |   |   |   |   |   |
| Liabilities                                |   |               |     |   |         |   |     |         |   |   |    |   |   |   |   |   |
| GWBL      features’ liability        |   | $                  | -        |   |         | $      | -        |         |   | $      | 54.9    |   |   | $ | 54.9 |   |
| Total      Liabilities                     |   | $                  | -        |   |         | $      | -        |         |   | $      | 54.9    |   |   | $ | 54.9 |   |

| (2)  | Includes      credit-tranched securities collateralized by sub-prime mortgages and other      asset types and credit tenantloans. |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------|

----

|                                      |   |  Level      1       |     |   |  Level      2 |   |     | Level      3 |   |   | Total   |   |
|-------------------------------------------|--------|--------------------------|----------|--------|--------------------|--------|----------|--------------|--------|--------|---------|--------|
|                                      |   |  (In      Millions) |
| Assets                                    |   |                     |     |   |               |   |     |         |   |   |    |   |
| Investments:                              |   |                     |     |   |               |   |     |         |   |   |    |   |
| Fixed      maturities, available-for-sale |   | $                        | 149.9    |   |               | $      | 21,256.7 |         |   | $      | 2,424.4 |   |   | $ | 23,831.0 |   |
| Other      equity investments             |   |                     | 63.4     |   |               |   | -        |         |   |   | 2.0     |   |   |   | 65.4 |   |
| Trading      securities                   |   |                     | 322.6    |   |               |   | -        |         |   |   | .1      |   |   |   | 322.7 |   |
| Other      invested assets                |   |                     | 31.1     |   |               |   | 419.0    |         |   |   | 547.0   |   |   |   | 997.1 |   |
| Loans      to affiliates                  |   |                     | -        |   |               |   | 588.3    |         |   |   | -       |   |   |   | 588.3 |   |
| Cash      equivalents                     |   |                     | 1,832.3  |   |               |   | -        |         |   |   | -       |   |   |   | 1,832.3 |   |
| Segregated      securities                |   |                     | -        |   |               |   | 2,572.6  |         |   |   | -       |   |   |   | 2,572.6 |   |
| GMIB      reinsurance contracts           |   |                     | -        |   |               |   | -        |         |   |   | 4,821.7 |   |   |   | 4,821.7 |   |
| Separate      Accounts’ assets      |   |                     | 66,044.4 |   |               |   | 1,248.3  |         |   |   | 334.3   |   |   |   | 67,627.0 |   |
| Total      Assets                         |   | $                        | 68,443.7 |   |               | $      | 26,084.9 |         |   | $      | 8,129.5 |   |   | $ | 102,658.1 |   |
|                                      |   |                     |     |   |               |   |     |         |   |   |    |   |   |   |   |   |
| Liabilities                               |   |                     |     |   |               |   |     |         |   |   |    |   |   |   |   |   |
| GWBL      features’ liability       |   | $                        | -        |   |               | $      | -        |         |   | $      | 272.6   |   |   | $ | 272.6 |   |
| Total      Liabilities                    |   | $                        | -        |   |               | $      | -        |         |   | $      | 272.6   |   |   | $ | 272.6 |   |

|                                                                              |   | Corporate |   |   | U.S.      Treasury, Govt and Agency |   |   | Foreign      Govts |   |   | State      and Political Sub-divisions |   |   | Commercial      Mortgage-backed |   |   | Residential      Mortgage-backed |   |    | Asset-backed |   |
|-----------------------------------------------------------------------------------|--------|-----------|--------|--------|-------------------------------------|--------|--------|--------------------|--------|--------|----------------------------------------|--------|--------|---------------------------------|--------|--------|----------------------------------|--------|---------|--------------|--------|
|                                                                              |   |      |   |   |                                |   |   |               |   |   |                                   |   |   |                            |   |   |                             |   |    |         |   |
| Balance,      January 1, 2009                                                     |   | $         | 411.1  |   |                                | $      | -      |               |   | $      | 64.0                                   |   |   | $                               | 55.4   |   |                             | $      | 1,587.3 |         |   | $ | - |   |   | $ | 304.1 |   |
| Total      gains (losses), realized and unrealized, included in:                  |   |      |   |   |                                |   |   |               |   |   |                                   |   |   |                            |   |   |                             |   |    |         |   |   |   |   |   |   |   |   |
| Earnings      as:                                                                 |   |      |   |   |                                |   |   |               |   |   |                                   |   |   |                            |   |   |                             |   |    |         |   |   |   |   |   |   |   |   |
| Net      investment income                                                        |   |      | 1.9    |   |                                |   | -      |               |   |   | -                                      |   |   |                            | -      |   |                             |   | 3.1     |         |   |   | - |   |   |   | (1.7 | ) |
| Investment      (losses), net                                                     |   |      | (40.4  | )      |                                |   | -      |               |   |   | -                                      |   |   |                            | -      |   |                             |   | (23.8   | )            |   |   | - |   |   |   | (19.6 | ) |
| (Decrease)      increase in the      fair value of the reinsurance      contracts |   |      | -      |   |                                |   | -      |               |   |   | -                                      |   |   |                            | -      |   |                             |   | -       |         |   |   | - |   |   |   | - |   |
| Subtotal                                                                          |   |      | (38.5  | )      |                                |   | -      |               |   |   | -                                      |   |   |                            | -      |   |                             |   | (20.7   | )            |   |   | - |   |   |   | (21.3 | ) |
| Other      comprehensive income (loss)                                            |   |      | 13.9   |   |                                |   | -      |               |   |   | 2.5                                    |   |   |                            | (7.2   | )      |                             |   | 49.1    |         |   |   | - |   |   |   | 20.3 |   |
| Purchases/issuances                                                               |   |      | 107.1  |   |                                |   | -      |               |   |   | 1.0                                    |   |   |                            | -      |   |                             |   | -       |         |   |   | - |   |   |   | - |   |
| Sales/settlements                                                                 |   |      | (41.5  | )      |                                |   | -      |               |   |   | (.2                                    | )      |   |                            | (.8    | )      |                             |   | (127.3  | )            |   |   | - |   |   |   | (47.9 | ) |
| Transfers      into/out of Level      3 (2)                                       |   |      | 13.5   |   |                                |   | -      |               |   |   | (46.6                                  | )      |   |                            | -      |   |                             |   | 1.4     |         |   |   | - |   |   |   | (38.1 | ) |
| Balance,      Dec. 31, 2009                                                       |   | $         | 465.6  |   |                                | $      | -      |               |   | $      | 20.7                                   |   |   | $                               | 47.4   |   |                             | $      | 1,489.8 |         |   | $ | - |   |   | $ | 217.1 |   |

| (1)   | Includes      Trading Securities’ Level 3 amount. |
|-----------------|---------------------------------------------------------|

| (2)   | Transfers      into/out of Level 3 classification are reflected at beginning-of-period      fair values. |
|-----------------|----------------------------------------------------------------------------------------------------------|

----

|                                                                             |   | Redeemablepreferred      stock |   |   | OtherEquity      Investments(1) |   |   | Other      Invested Assets |   |   | GMIB      Reinsurance Asset |   |   | Separate      Accounts Assets |     |   | GWBL      Features Liability |   |
|----------------------------------------------------------------------------------|--------|--------------------------------|--------|--------|---------------------------------|--------|--------|----------------------------|--------|--------|-----------------------------|--------|--------|-------------------------------|----------|--------|------------------------------|--------|
|                                                                             |   |                           |   |   |                            |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |
| Balance,      January 1, 2009                                                    |   | $                              | 2.5    |   |                            | $      | 2.1    |                       |   | $      | 547.0                       |   |   | $                             | 4,821.7  |   |                         | $      | 334.3 |   |   | $ | 272.6 |   |
| Total      gains (losses), realized and      unrealized, included in:            |   |                           |   |   |                            |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Earnings      as:                                                                |   |                           |   |   |                            |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Net      investment income                                                       |   |                           | -      |   |                            |   | -      |                       |   |   | (357.2                      | )      |   |                          | -        |   |                         |   | - |   |   |   | - |   |
| Investment      (losses), net                                                    |   |                           | (45.1  | )      |                            |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | (94.8 | ) |   |   | - |   |
| (Decrease)      increase in the      fair value of thereinsurance      contracts |   |                           | -      |   |                            |   | -      |                       |   |   | -                           |   |   |                          | (2,746.3 | )      |                         |   | - |   |   |   | - |   |
| Policyholders’      benefits                                               |   |                           | -      |   |                            |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | (229.6 | ) |
| Subtotal                                                                         |   |                           | (45.1  | )      |                            |   | -      |                       |   |   | (357.2                      | )      |   |                          | (2,746.3 | )      |                         |   | (94.8 | ) |   |   | (229.6 | ) |
|                                                                             |   |                           |   |   |                            |   |   |                       |   |   |                        |   |   |                          |     |   |                         |   |   |   |   |   |   |   |
| Other      comprehensive income (loss)                                           |   |                           | 34.1   |   |                            |   | -      |                       |   |   | -                           |   |   |                          | -        |   |                         |   | - |   |   |   | - |   |
| Purchases/issuances                                                              |   |                           |   |   |                            |   |   |                       |   |   | -                           |   |   |                          | 180.4    |   |                         |   | 1.2 |   |   |   | 11.9 |   |
| Sales/settlements                                                                |   |                           | -      |   |                            |   | (1.2   | )                          |   |   | 109.8                       |   |   |                          | -        |   |                         |   | (7.3 | ) |   |   | - |   |
| Transfers      into/out of Level      3 (2)                                      |   |                           | 20.9   |   |                            |   | .7     |                       |   |   | -                           |   |   |                          | -        |   |                         |   | (3.7 | ) |   |   | - |   |
| Balance,      Dec. 31, 2009                                                      |   | $                              | 12.4   |   |                            | $      | 1.6    |                       |   | $      | 299.6                       |   |   | $                             | 2,255.8  |   |                         | $      | 229.7 |   |   | $ | 54.9 |   |

| (1)   | Includes      Trading securities’ Level 3 amount. |
|-----------------|---------------------------------------------------------|

| (2)   | Transfers      into/out of Level 3 classification are reflected at beginning-of-period      fair values. |
|-----------------|----------------------------------------------------------------------------------------------------------|

----

|                                                              |   | Fixed         |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |
|-------------------------------------------------------------------|--------|---------------|---------|--------|----------------|--------|--------|----------|--------|--------|-------------|--------|--------|----------|---------|--------|-----------|--------|
|                                                              |   | Maturities    |    |   | Other          |   |   | Other    |   |   | GMIB        |   |   | Separate |    |   | GWBL      |   |
|                                                              |   | Available     |    |   | Equity         |   |   | Invested |   |   | Reinsurance |   |   | Accounts |    |   | Features  |   |
|                                                              |   | For      Sale |    |   | Investments(1) |   |   | Assets   |   |   | Asset       |   |   | Assets   |    |   | Liability |   |
|                                                              |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |
| Balance,      Dec. 31, 2007                                       |   | $             | 2,503.4 |   |           | $      | 3.0    |     |   | $      | 160.9       |   |   | $        | 124.7   |   |      | $      | 40.8 |   |   | $ | - |   |
| Impact      of adopting fair value guidance, included in earnings |   |          | -       |   |           |   | -      |     |   |   | -           |   |   |     | 210.6   |   |      |   | - |   |   |   | - |   |
| Balance,      Jan. 1, 2008                                        |   |          | 2,503.4 |   |           |   | 3.0    |     |   |   | 160.9       |   |   |     | 335.3   |   |      |   | 40.8 |   |   |   | - |   |
| Total      gains (losses),                                        |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| realized      and unrealized,                                     |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| included      in:                                                 |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| Earnings      as:                                                 |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| Net      investment income                                        |   |          | 3.3     |   |           |   | -      |     |   |   | 359.3       |   |   |     | -       |   |      |   | - |   |   |   | - |   |
| Investment      (losses)                                          |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| gains,      net                                                   |   |          | (144.5  | )      |           |   | (1.1   | )        |   |   | -           |   |   |     | -       |   |      |   | (17.4 | ) |   |   | - |   |
| Commissions,      fees and                                        |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| other      income                                                 |   |          | -       |   |           |   | -      |     |   |   | -           |   |   |     | 3,571.2 |   |      |   | - |   |   |   | - |   |
| Policyholders’      benefits                                |   |          | -       |   |           |   | -      |     |   |   | -           |   |   |     | -       |   |      |   | - |   |   |   | 265.2 |   |
| Subtotal                                                          |   |          | (141.2  | )      |           |   | (1.1   | )        |   |   | 359.3       |   |   |     | 3,571.2 |   |      |   | (17.4 | ) |   |   | 265.2 |   |
| Other      comprehensive                                          |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| (loss)      income                                                |   |          | (384.6  | )      |           |   | .6     |     |   |   | -           |   |   |     | -       |   |      |   | - |   |   |   | - |   |
| Purchases/issuances      and                                      |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| sales/settlements,      net                                       |   |          | (85.6   | )      |           |   | (.4    | )        |   |   | 26.8        |   |   |     | 915.2   |   |      |   | 248.6 |   |   |   | 7.4 |   |
| Transfers      into/out of                                        |   |          |    |   |           |   |   |     |   |   |        |   |   |     |    |   |      |   |   |   |   |   |   |   |
| Level      3(2)                                                   |   |          | 532.4   |   |           |   | -      |     |   |   | -           |   |   |     | -       |   |      |   | 62.3 |   |   |   | - |   |
| Balance,      Dec. 31, 2008                                       |   | $             | 2,424.4 |   |           | $      | 2.1    |     |   | $      | 547.0       |   |   | $        | 4,821.7 |   |      | $      | 334.3 |   |   | $ | 272.6 |   |

| (1)   | Includes      Trading securities’ Level 3 amount. |
|-----------------|---------------------------------------------------------|

| (2)   | Transfers      into/out of Level 3 classification are reflected at beginning-of-period      fair values. |
|-----------------|----------------------------------------------------------------------------------------------------------|

----

|                                  |   | Earnings           |   |   |       |   |   |               |   |
|---------------------------------------|--------|--------------------|--------|--------|------------|--------|--------|--------------------|--------|
|                                  |   |               |   |   | Investment |   |   | Change      in     |   |   |   |   |   |   |   |
|                                  |   | Net                |   |   | Gains      |   |   | Fair      Value of |   |   |   |   |   | Policy- |   |
|                                  |   | Investment         |   |   | (Losses),  |   |   | Reinsurance        |   |   |   |   |   | holders’ |   |
|                                  |   | Income             |   |   | Net        |   |   | Contracts          |   |   | OCI |   |   | Benefits |   |
|                                  |   | (In      Millions) |   |
| Level      3 Instruments              |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Full      Year 2009                   |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Still      Held at December 31, 2009: |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Change      in unrealized gains       |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| or      losses                        |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Fixed      maturities,                |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| available-for-sale:                   |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |
| Corporate                             |   | $                  | -      |   |       | $      | -      |               |   | $ | - |   |   | $ | (2.2 | ) |   | $ | - |   |
| U.S.      Treasury, government        |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |
| and      agency                       |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| State      and political              |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |
| subdivisions                          |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | (7.3 | ) |   |   | - |   |
| Foreign      governments              |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 2.5 |   |   |   | - |   |
| Commercial                            |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage-backed                       |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 36.8 |   |   |   | - |   |
| Residential                           |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |
| mortgage-backed                       |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Asset-backed                          |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 7.1 |   |   |   | - |   |
| Redeemable      preferred stock       |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 34.1 |   |   |   | - |   |
| Subtotal                              |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 71.0 |   |   |   | - |   |
| Equity      securities,               |   |               |   |   |       |   |   |               |   |   |   |   |   |   |   |   |   |   |   |   |
| available-for-sale                    |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Other      equity investments         |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | 0.2 |   |   |   | - |   |
| Other      invested assets            |   |               | (247.4 | )      |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash      equivalents                 |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| Segregated      securities            |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | - |   |
| GMIB      reinsurance contracts       |   |               | -      |   |       |   | -      |               |   |   | (2,565.9 | ) |   |   | - |   |   |   | - |   |
| Separate      Accounts’ assets  |   |               | -      |   |       |   | (95.5  | )                  |   |   | - |   |   |   | - |   |   |   | - |   |
| GWBL      features’ liability   |   |               | -      |   |       |   | -      |               |   |   | - |   |   |   | - |   |   |   | 217.7 |   |
| Total                                 |   | $                  | (247.4 | )      |       | $      | (95.5  | )                  |   | $ | (2,565.9 | ) |   | $ | 71.2 |   |   | $ | 217.7 |   |

----

|                                           |   | Earnings                   |   |   |                                |   |   |                                               |   |
|------------------------------------------------|--------|----------------------------|--------|--------|-------------------------------------|--------|--------|----------------------------------------------------|--------|
|                                           |   | Net      Investment Income |   |   | Investment      Gains (Losses), Net |   |   | Change      in Fair Value of Reinsurance Contracts |   |   | OCI |   |   | Policy-holders’      Benefits |   |
|                                           |   |                       |   |   |                                |   |   | (In      Millions)                                 |   |   |   |   |   |   |   |
| Full      Year 2008                            |   |                       |   |   |                                |   |   |                                               |   |   |   |   |   |   |   |
| Still      Held at December 31, 2008:          |   |                       |   |   |                                |   |   |                                               |   |   |   |   |   |   |   |
| Change      in unrealized gains      or losses |   |                       |   |   |                                |   |   |                                               |   |   |   |   |   |   |   |
| Fixed      maturities, available-for-sale      |   | $                          | -      |   |                                | $      | -      |                                               |   | $ | - |   |   | $ | (394.1 | ) |   | $ | - |   |
| Other      equity investments                  |   |                       | -      |   |                                |   | -      |                                               |   |   | - |   |   |   | .6 |   |   |   | - |   |
| Other      invested assets                     |   |                       | 386.1  |   |                                |   | -      |                                               |   |   | - |   |   |   | - |   |   |   | - |   |
| Cash      equivalents                          |   |                       | -      |   |                                |   | -      |                                               |   |   | - |   |   |   | - |   |   |   | - |   |
| Segregated      securities                     |   |                       | -      |   |                                |   | -      |                                               |   |   | - |   |   |   | - |   |   |   | - |   |
| GMIB      reinsurance contracts                |   |                       | -      |   |                                |   | -      |                                               |   |   | 3,571.2 |   |   |   | - |   |   |   | - |   |
| Separate      Accounts’ assets           |   |                       | -      |   |                                |   | (16.6  | )                                                  |   |   | - |   |   |   | - |   |   |   | - |   |
| GWBL      features’ liability            |   |                       | -      |   |                                |   | -      |                                               |   |   | - |   |   |   | - |   |   |   | 265.2 |   |
| Total                                          |   | $                          | 386.1  |   |                                | $      | (16.6  | )                                                  |   | $ | 3,571.2 |   |   | $ | (393.5 | ) |   | $ | 265.2 |   |

|                                     |   | December      31,  |    |
|------------------------------------------|--------|--------------------|---------|
|                                     |   | 2009               |    |   | 2008 |   |
|                                     |   | Carrying           |    |   | Fair |   |   | Carrying |   |   | Fair |   |
|                                     |   | Value              |    |   | Value |   |   | Value |   |   | Value |   |
|                                     |   | (In      Millions) |    |
|                                     |   |               |    |
| Consolidated:                            |   |               |    |   |   |   |   |   |   |   |   |   |
| Mortgage      loans on real estate       |   | $                  | 3,554.8 |   |   | $ | 3,547.4 |   |   | $ | 3,673.9 |   |   | $ | 3,624.5 |   |
| Other      limited partnership interests |   |               | 1,308.4 |   |   |   | 1,308.4 |   |   |   | 1,414.6 |   |   |   | 1,414.6 |   |
| Policyholders      liabilities:          |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment      contracts                |   |               | 2,721.0 |   |   |   | 2,729.4 |   |   |   | 3,072.9 |   |   |   | 3,162.5 |   |
| Loans      to Affiliates                 |   |               | 1,048.3 |   |   |   | 1,077.2 |   |   |   | 588.3 |   |   |   | 588.3 |   |
| Long-term      debt                      |   |               | 199.9   |   |   |   | 226.0 |   |   |   | 199.9 |   |   |   | 190.8 |   |
|                                     |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Closed Blocks:                           |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage      loans on real estate       |   | $                  | 1,028.5 |   |   | $ | 1,021.2 |   |   | $ | 1,107.1 |   |   | $ | 1,102.6 |   |
| Other      equity investments            |   |               | 1.5     |   |   |   | 1.5 |   |   |   | 2.7 |   |   |   | 2.7 |   |
| SCNILC      liability                    |   |               | 7.6     |   |   |   | 7.6 |   |   |   | 8.6 |   |   |   | 8.6 |   |
|                                     |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Wind-up Annuities(1):                    |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage      loans on real estate       |   | $                  | -       |   |   | $ | - |   |   | $ | 1.2 |   |   | $ | 1.3 |   |
| Other      equity investments            |   |               | -       |   |   |   | - |   |   |   | 1.3 |   |   |   | 1.3 |   |
| Guaranteed      interest contracts       |   |               | -       |   |   |   | - |   |   |   | 5.5 |   |   |   | 6.2 |   |

| (1)   | At      December 31, 2009, the remaining assets and liabilities of the group      non-participating wind-up annuity line of business (“Wind-up Annuities”)      were consolidated into the Company’s consolidated balance sheet on a line      by line basis.  At December 31, 2009 Wind-up Annuities had      mortgage loans on real estate with a carrying value of $150.4 million and      fair value of $156.4 million; other equity investment, with a carrying      value and fair value of $1.3 million and guaranteed      interest  contracts with a carrying value of $5.4 million and a      fair value of $5.6 million. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ●   | Return      of Premium: the benefit is the greater of current account value or      premiums paid (adjusted forwithdrawals); |
|---------------------|------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ●  | Ratchet:      the benefit is the greatest of current account value, premiums paid      (adjusted for withdrawals), or the highest account value on any      anniversary up to contractually specified ages (adjusted for      withdrawals); |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ●  | Roll-Up:      the benefit is the greater of current account value or premiums paid      (adjusted for withdrawals) accumulated at contractually specified interest      rates up to specified ages; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ●  | Combo:      the benefit is the greater of the ratchet benefit or the roll-up benefit      which may include a five year or annual reset;  or |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ●  | Withdrawal:      the withdrawal is guaranteed up to a maximum amount per year for      life. |
|---------------|----------------------------------------------------------------------------------------------|

|                              |   | GMDB               |    |   | GMIB   |    |    | Total  |   |
|-----------------------------------|--------|--------------------|---------|--------|--------|---------|---------|--------|--------|
|                              |   | (In      Millions) |    |
|                              |   |               |    |
| Balance      at January 1, 2007   |   | $                  | 163.7   |   |   |  $ | 228.3   |   |   |  $ | 392.0 |   |
| Paid      guarantee benefits      |   |               | (30.6   | )      |   |    | (2.7    | )      |   |   | (33.3 | ) |
| Other      changes in reserve     |   |               | 120.0   |   |   |    | 84.3    |   |   |   | 204.3 |   |
| Balance      at December 31, 2007 |   |               | 253.1   |   |   |    | 309.9   |   |   |   | 563.0 |   |
| Paid      guarantee benefits      |   |               | (72.8   | )      |   |    | (8.2    | )      |   |   | (81.0 | ) |
| Other      changes in reserve     |   |               | 800.6   |   |   |    | 1,678.2 |   |   |   | 2,478.8 |   |
| Balance      at December 31, 2008 |   |               | 980.9   |   |   |    | 1,979.9 |   |   |   | 2,960.8 |   |
| Paid      guarantee benefits      |   |               | (249.1  | )      |   |    | (57.6   | )      |   |   | (306.7 | ) |
| Other      changes in reserve     |   |               | 354.7   |   |   |    | (309.4  | )      |   |   | 45.3 |   |
| Balance      at December 31, 2009 |   | $                  | 1,086.5 |   |   | $       | 1,612.9 |   |   | $ | 2,699.4 |   |

----

|                               |   | GMDB               |   |
|------------------------------------|--------|--------------------|--------|
|                               |   | (In      Millions) |   |
|                               |   |               |   |
| Balance      at January 1, 2007    |   | $                  | 23.6   |   |
| Paid      guarantee benefits ceded |   |               | (7.6   | ) |
| Other      changes in reserve      |   |               | 11.5   |   |
| Balance      at December 31, 2007  |   |               | 27.5   |   |
| Paid      guarantee benefits       |   |               | (7.1   | ) |
| Other      changes in reserve      |   |               | 306.9  |   |
| Balance      at December 31, 2008  |   |               | 327.3  |   |
| Paid      guarantee benefits       |   |               | (86.6  | ) |
| Other      changes in reserve      |   |               | 164.3  |   |
| Balance      at December 31, 2009  |   | $                  | 405.0  |   |

|                                                      |   | Return                     |   |   |    |   |   |    |   |   |        |   |   |   |          |
|-----------------------------------------------------------|--------|----------------------------|--------|--------|---------|--------|--------|---------|--------|--------|-------------|--------|--------|--------|---------------|
|                                                      |   | of                         |   |   |    |   |   |    |   |   |        |   |   |   |          |
|                                                      |   | Premium                    |   |   | Ratchet |   |   | Roll-Up |   |   | Combo       |   |   | Total  |          |
|                                                      |   | (Dollars      In Millions) |   |
| GMDB:                                                     |   |                       |   |   |    |   |   |    |   |   |        |   |   |   |          |
| Account      values invested in:                          |   |                       |   |   |    |   |   |    |   |   |        |   |   |   |          |
| General      Account                                      |   | $                          | 11,156 |   |    | $      | 279    |    |   | $      | 161         |   |   | $      | 531           |   |   | $ | 12,127 |   |
| Separate      Accounts                                    |   | $                          | 25,729 |   |    | $      | 6,944  |    |   | $      | 4,231       |   |   | $      | 31,686        |   |   | $ | 68,590 |   |
| Net      amount at risk, gross                            |   | $                          | 2,444  |   |    | $      | 1,728  |    |   | $      | 2,861       |   |   | $      | 10,511        |   |   | $ | 17,544 |   |
| Net      amount at risk, net ofamounts      reinsured     |   | $                          | 2,444  |   |    | $      | 1,102  |    |   | $      | 1,933       |   |   | $      | 4,357         |   |   | $ | 9,836 |   |
| Average      attained age of contractholders              |   |                       | 49.7   |   |    |   | 62.3   |    |   |   | 67.0        |   |   |   | 62.5          |   |   |   | 53.4 |   |
| Percentage      of contractholdersover      age 70        |   |                       | 7.6    | %      |    |   | 24.8   | %       |   |   | 41.8        | %      |   |   | 23.8          | % |   |   | 12.9 | % |
| Range      of contractually specified interest rates      |   |                       | N/A    |   |    |   | N/A    |    |   |   | 3%      - 6 | %      |   |   | 3%      - 6.5 | % |   |   | 3%      - 6.5 | % |
|                                                      |   |                       |   |   |    |   |   |    |   |   |        |   |   |   |          |   |   |   |   |   |
| GMIB:                                                     |   |                       |   |   |    |   |   |    |   |   |        |   |   |   |          |   |   |   |   |   |
| Account      values invested in:                          |   |                       |   |   |    |   |   |    |   |   |        |   |   |   |          |   |   |   |   |   |
| General      Account                                      |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 36          |   |   | $      | 775           |   |   | $ | 811 |   |
| Separate      Accounts                                    |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 2,836       |   |   | $      | 43,484        |   |   | $ | 46,320 |   |
| Net      amount at risk, gross                            |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 1,318       |   |   | $      | 1,027         |   |   | $ | 2,345 |   |
| Net      amount at risk, net ofamounts      reinsured     |   |                       | N/A    |   |    |   | N/A    |    |   | $      | 386         |   |   | $      | 253           |   |   | $ | 639 |   |
| Weighted      average years remaining until annuitization |   |                       | N/A    |   |    |   | N/A    |    |   |   | 1.1         |   |   |   | 7.0           |   |   |   | 6.5 |   |
| Range      of contractuallyspecified      interest rates  |   |                       | N/A    |   |    |   | N/A    |    |   |   | 3%      -6  | %      |   |   | 3%      - 6.5 | % |   |   | 3%      - 6.5 | % |

----

|              |   | December      31,  |   |
|-------------------|--------|--------------------|--------|
|              |   | 2009               |   | 2008 |   |
|              |   | (In      Millions) |   |
|              |   |               |   |
| GMDB:             |   |               |   |   |   |   |
| Equity            |   | $                  | 41,447 |   |   | $ | 30,428 |   |
| Fixed      income |   |               | 3,957  |   |   |   | 3,745 |   |
| Balanced          |   |               | 20,940 |   |   |   | 17,469 |   |
| Other             |   |               | 2,246  |   |   |   | 2,410 |   |
| Total             |   | $                  | 68,590 |   |   | $ | 54,052 |   |
|              |   |               |   |   |   |   |   |   |
| GMIB:             |   |               |   |   |   |   |   |   |
| Equity            |   | $                  | 27,837 |   |   | $ | 19,138 |   |
| Fixed      income |   |               | 2,514  |   |   |   | 2,219 |   |
| Balanced          |   |               | 15,351 |   |   |   | 12,887 |   |
| Other             |   |               | 618    |   |   |   | 1,272 |   |
| Total             |   | $                  | 46,320 |   |   | $ | 35,516 |   |

----

|                              | Direct             |   | Reinsurance |   |   |   |
|-----------------------------------|--------------------|--------|-------------|--------|--------|--------|
|                              | Liability          |   | Ceded       |   | Net    |   |
|                              | (In      Millions) |   |
|                              |               |   |
| Balance      at January 1, 2007   |               | $      | 66.8        |   |   | $      | (47.9 | ) |   | $ | 18.9 |   |
| Other      changes in reserves    |               |   | 68.2        |   |   |   | (59.7 | ) |   |   | 8.5 |   |
| Balance      at December 31, 2007 |               |   | 135.0       |   |   |   | (107.6 | ) |   |   | 27.4 |   |
| Other      changes in reserves    |               |   | 68.0        |   |   |   | (45.0 | ) |   |   | 23.0 |   |
| Balance      at December 31, 2008 |               |   | 203.0       |   |   |   | (152.6 | ) |   |   | 50.4 |   |
| Other      changes in reserves    |               |   | 52.0        |   |   |   | (21.0 | ) |   |   | 31.0 |   |
| Balance      at December 31, 2009 |               | $      | 255.0       |   |   | $      | (173.6 | ) |   | $ | 81.4 |   |

----

|                                                   |   | 2009               |   |   | 2008   |   |    | 2007   |   |
|--------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|---------|--------|--------|
|                                                   |   | (In      Millions) |   |
|                                                   |   |               |   |
| Direct      premiums                                   |   | $                  | 838.2  |   |   | $      | 848.3   |   |   | $ | 855.1 |   |
| Reinsurance      assumed                               |   |               | 202.0  |   |   |   | 193.8   |   |   |   | 193.0 |   |
| Reinsurance      ceded                                 |   |               | (609.1 | )      |   |   | (283.5  | )      |   |   | (243.2 | ) |
| Premiums                                               |   | $                  | 431.1  |   |   | $      | 758.6   |   |   | $ | 804.9 |   |
|                                                   |   |               |   |   |   |   |    |   |   |   |   |   |
| Universal      Life and Investment-type Product        |   |               |   |   |   |   |    |   |   |   |   |   |
| Policy      Fee Income Ceded                           |   | $                  | 197.1  |   |   | $      | 169.1   |   |   | $ | 153.9 |   |
| Policyholders’      Benefits Ceded               |   | $                  | 485.2  |   |   | $      | 1,221.8 |   |   | $ | 510.7 |   |
| Interest      Credited to Policyholders’ Account |   |               |   |   |   |   |    |   |   |   |   |   |
| Balances      Ceded                                    |   | $                  | -      |   |   | $      | 33.2    |   |   | $ | 56.1 |   |

|                                           |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                           |   | (In      Millions) |   |
|                                           |   |               |   |
| Incurred      benefits related to current year |   | $                  | 37.6   |   |   | $      | 35.5   |   |   | $ | 32.9 |   |
| Incurred      benefits related to prior years  |   |               | 6.4    |   |   |   | 4.2    |   |   |   | 13.2 |   |
| Total      Incurred Benefits                   |   | $                  | 44.0   |   |   | $      | 39.7   |   |   | $ | 46.1 |   |
|                                           |   |               |   |   |   |   |   |   |   |   |   |   |
| Benefits      paid related to current year     |   | $                  | 12.7   |   |   | $      | 10.8   |   |   | $ | 11.9 |   |
| Benefits      paid related to prior years      |   |               | 34.1   |   |   |   | 28.8   |   |   |   | 32.8 |   |
| Total      Benefits Paid                       |   | $                  | 46.8   |   |   | $      | 39.6   |   |   | $ | 44.7 |   |

|                                        |   | December      31,  |   |
|---------------------------------------------|--------|--------------------|--------|
|                                        |   | 2009               |   |   | 2008 |   |
|                                        |   | (In      Millions) |   |
| Short-term      debt:                       |   |               |   |   |   |   |
| AllianceBernstein      commercial paper     |   |               |   |   |   |   |
| (with      interest rates of 0.2% and 1.8%) |   | $                  | 249.1  |   |   | $ | 284.8 |   |
| Total      short-term debt                  |   |               | 249.1  |   |   |   | 284.8 |   |
|                                        |   |               |   |   |   |   |   |   |
| Long-term      debt:                        |   |               |   |   |   |   |   |   |
| AXA      Equitable:                         |   |               |   |   |   |   |   |   |
| Surplus      Notes, 7.70%, due 2015         |   |               | 199.9  |   |   |   | 199.8 |   |
| Total      long-term debt                   |   |               | 199.9  |   |   |   | 199.8 |   |
|                                        |   |               |   |   |   |   |   |   |
| Total      Short-term and Long-term Debt    |   | $                  | 449.0  |   |   | $ | 484.6 |   |

----

----

|                                             |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|--------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                             |   | (In      Millions) |   |
|                                             |   |               |   |   |   |   |   |   |   |
| Investment      advisory and services fees       |   | $                  | 658.5  |   |   | $      | 870.5  |   |   | $ | 1,027.6 |   |
| Distribution      revenues                       |   |               | 277.3  |   |   |   | 378.4  |   |   |   | 473.4 |   |
| Other      revenues - shareholder servicing fees |   |               | 90.1   |   |   |   | 99.0   |   |   |   | 103.6 |   |
| Other      revenues - other                      |   |               | 7.0    |   |   |   | 6.9    |   |   |   | 6.5 |   |
| Institutional      research services             |   |               | 1.1    |   |   |   | 1.2    |   |   |   | 1.6 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In      Millions) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |   |
| Service      cost                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                  | 38.3   |   |   | $      | 41.6   |   |   | $ | 39.0 |   |
| Interest      cost                                                                                                                                                                                                                                                                                                                                                                                                         |   |               | 136.2  |   |   |   | 134.1  |   |   |   | 128.8 |   |
| Expected      return on assets                                                                                                                                                                                                                                                                                                                                                                                             |   |               | (125.6 | )      |   |   | (194.4 | )      |   |   | (191.0 | ) |
| Curtailment      gain                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | -      |   |   |   | (3.5   | )      |   |   | - |   |
| Net      amortization                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | 95.3   |   |   |   | 42.6   |   |   |   | 57.5 |   |
| Plan      amendments                                                                                                                                                                                                                                                                                                                                                                                                       |   |               | 1.8    |   |   |   | -      |   |   |   | - |   |
| Net      Periodic Pension      Expense                                                               |   | $                  | 146.0  |   |   | $      | 20.4   |   |   | $ | 34.3 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | December      31,  |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009               |    |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | (In      Millions) |    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               |    |
| Projected      benefit obligation, beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $                  | 2,181.1 |   |   | $ | 2,222.1 |   |
| Service      cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |               | 30.3    |   |   |   | 33.6 |   |
| Interest      cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | 136.2   |   |   |   | 134.1 |   |
| Actuarial      losses (gains)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |               | 68.8    |   |   |   | (27.6 | ) |
| Plan      curtailment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               | -       |   |   |   | (13.1 | ) |
| Benefits      paid                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               | (177.0  | ) |   |   | (168.0 | ) |
| Plan      amendments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |               | 1.8     |   |   |   | - |   |
| Projected      Benefit Obligation, End of      Year                                                                                      |   | $                  | 2,241.2 |   |   | $ | 2,181.1 |   |

----

|                                                      | December      31,  |   |
|-----------------------------------------------------------|--------------------|--------|
|                                                      | 2009               |   | 2008 |   |
|                                                      | (In      Millions) |   |
|                                                      |               |   |
| Pension      plan assets at fair value, beginning of year |               | $      | 1,460.4 |   |   | $ | 2,415.7 |   |
| Actual      return on plan assets                         |               |   | 104.1 |   |   |   | (813.6 | ) |
| Contributions                                             |               |   | 31.8 |   |   |   | 35.6 |   |
| Benefits      paid and fees                               |               |   | (190.3 | ) |   |   | (177.3 | ) |
| Pension      plan assets at fair value, end of year       |               |   | 1,406.0 |   |   |   | 1,460.4 |   |
| PBO                                                       |               |   | 2,241.2 |   |   |   | 2,181.1 |   |
| Excess      of PBO Over Pension Plan Assets               |               | $      | (835.2 | ) |   | $ | (720.7 | ) |

|                                   | December      31,  |   |
|----------------------------------------|--------------------|--------|
|                                   | 2009               |   | 2008 |   |
|                                   | (In      Millions) |   |
|                                   |               |   |
| Unrecognized      net actuarial loss   |               | $      | 1,492.9 |   |   | $ | 1,497.0 |   |
| Unrecognized      prior service cost   |               |   | 7.5 |   |   |   | 3.2 |   |
| Unrecognized      net transition asset |               |   | (.5 | ) |   |   | (.6 | ) |
| Total                                  |               | $      | 1,499.9 |   |   | $ | 1,499.6 |   |

|                                 |   | December      31,  |   |
|--------------------------------------|--------|--------------------|--------|
|                                 |   | 2009               |   |   | 2008 |   |
|                                 |   | (In      Millions) |   |
|                                 |   |               |   |   |   |   |
| Fixed      maturities                |   |               | 45.3   | % |   |   | 27.9 | % |
| Equity      securities               |   |               | 37.0   |   |   |   | 54.1 |   |
| Equity      real estate              |   |               | 11.6   |   |   |   | 16.7 |   |
| Cash      and short-term investments |   |               | 6.1    |   |   |   | 1.3 |   |
|                                 |   |               | 100.0  | % |   |   | 100.0 | % |

----

|                                        |   | At      December 31, 2009 |    |
|---------------------------------------------|--------|---------------------------|---------|
|                                        |   |                      |    |
|                                        |   | Level      1              |    |   | Level      2 |   |   | Level      3 |   |   | Total |   |
|                                        |   | (In      Millions)        |    |
| Asset      Categories                       |   |                      |    |
| Fixed      maturities:                      |   |                      |    |   |   |   |   |   |   |   |   |   |
| Corporate                                   |   | $                         | -       |   |   | $ | 414.8 |   |   | $ | - |   |   | $ | 414.8 |   |
| US      Treasury, governmentand      agency |   |                      | -       |   |   |   | 192.4 |   |   |   | - |   |   |   | 192.4 |   |
| States      and political subdivisions      |   |                      | -       |   |   |   | 9.2 |   |   |   | - |   |   |   | 9.2 |   |
| Foreign      governments                    |   |                      | -       |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Commercial      mortgage-backed             |   |                      | -       |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Asset-backed                                |   |                      | -       |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Other      structured debt                  |   |                      | -       |   |   |   | - |   |   |   | 6.5 |   |   |   | 6.5 |   |
| Common      and preferred equity            |   |                      | 574.7   |   |   |   | 1.4 |   |   |   | - |   |   |   | 576.1 |   |
| Mutual      funds                           |   |                      | 5.0     |   |   |   | - |   |   |   | - |   |   |   | 5.0 |   |
| Hedge      funds                            |   |                      | -  |   |   |   | 6.5 |   |   |   | - |   |   |   | 6.5 |   |
| Derivatives,      net                       |   |                      | (95.9   | ) |   |   | - |   |   |   | - |   |   |   | (95.9 | ) |
| Private      real estate investment funds   |   |                      | -       |   |   |   | - |   |   |   | 12.1 |   |   |   | 12.1 |   |
| Private      investment trusts              |   |                      | -       |   |   |   | 44.4 |   |   |   | 146.7 |   |   |   | 191.1 |   |
| Commercial      mortgages                   |   |                      | -       |   |   |   | - |   |   |   | 1.8 |   |   |   | 1.8 |   |
| Cash      and cash equivalents              |   |                      | 32.0    |   |   |   | 1.4 |   |   |   | - |   |   |   | 33.4 |   |
| Short-term      investments                 |   |                      | 29.2    |   |   |   | 23.8 |   |   |   | - |   |   |   | 53.0 |   |
| Total                                       |   | $                         | 545.0   |   |   | $ | 693.9 |   |   | $ | 167.1 |   |   | $ | 1,406.0 |   |

----

|                                                    |   | Fixed      Maturities(1) |   |   | Private      Real      Estate      InvestmentFunds |   |   |  PrivateInvestmentTrusts |   |   | Commercial      Mortgages |   |   | Total  |   |
|---------------------------------------------------------|--------|--------------------------|--------|--------|----------------------------------------------------|--------|--------|-------------------------------|--------|--------|---------------------------|--------|--------|--------|--------|
|                                                    |   |                     |   |   | (In      Millions)                                 |   |   |                          |   |
|                                                    |   |                     |   |   |                                               |   |   |                          |   |   |                      |   |   |   |   |   |
| Balance      at December      31, 2008                  |   | $                        | 5.9    |   |                                               | $      | 15.4   |                          |   | $      |  224.4               |   |   | $      | 2.1    |   |   | $ | 247.8 |   |
| Actual      return on Plan assets:                      |   |                     |   |   |                                               |   |   |                          |   |   |                      |   |   |   |   |   |   |   |   |   |
| Relating      to assets still held at December 31, 2009 |   |                     | .6     |   |                                               |   | (2.6   | )                             |   |   |  (77.7               | )      |   |   | (.1    | ) |   |   | (79.8 | ) |
| Relating      to assets sold during 2009                |   |                     | -      |   |                                               |   | (.1    | )                             |   |   |  -                   |   |   |   | .1     |   |   |   | - |   |
| Purchases,      sales, issues and settlements, net      |   |                     | -      |   |                                               |   | (.6    | )                             |   |   |  -                   |   |   |   | (.3    | ) |   |   | (.9 | ) |
| Transfers      into/out      of Level 3                 |   |                     | -      |   |                                               |   | -      |                          |   |   |  -                   |   |   |   | -      |   |   |   | - |   |
| Balance      at December      31, 2009                  |   | $                        | 6.5    |   |                                               | $      | 12.1   |                          |   | $      |  146.7               |   |   | $      | 1.8    |   |   | $ | 167.1 |   |

|   | (1) | Includes      commercial mortgage- and asset-backed securities and other structured      debt. |
|--------|-----|------------------------------------------------------------------------------------------------|

|                                                                               |   | 2009   |   | 2008   |
|------------------------------------------------------------------------------------|--------|--------|--------|--------|
| Discount      rates:                                                               |   |   |   |   |   |   |
| Benefit      obligation                                                            |   |   | 6.00   | %      |   |   | 6.50 | % |
| Periodic      cost                                                                 |   |   | 6.50   | %      |   |   | 6.25 | %(1) |
|                                                                               |   |   |   |   |   |   |   |   |
| Rates      of compensation increase:                                               |   |   |   |   |   |   |   |   |
| Benefit      obligation and periodic cost                                          |   |   | 6.00   | %      |   |   | 6.00 | % |
|                                                                               |   |   |   |   |   |   |   |   |
| Expected      long-term rates of return on pensionplan      assets (periodic cost) |   |   | 6.75   | %      |   |   | 8.50 | % |

|   | (1) | For      pension plans remeasured in second quarter 2008, periodic cost was      recalculated using a discount rate of 6.75% for the remainder of the      year. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                 |   | Pension            |   |
|----------------------|--------|--------------------|--------|
|                 |   | Benefits           |   |
|                 |   | (In      Millions) |   |
| 2010                 |   | $                  | 185.7  |   |
| 2011                 |   |               | 194.1  |   |
| 2012                 |   |               | 195.7  |   |
| 2013                 |   |               | 194.7  |   |
| 2014                 |   |               | 194.1  |   |
| Years      2015-2019 |   |               | 947.9  |   |

| 13)   | SHARE-BASED      COMPENSATION AND OTHER COMPENSATIONPROGRAMS |
|-----------------|--------------------------------------------------------------|

----

----

|                        |   | Options      Outstanding |
|-----------------------------|--------|--------------------------|
|                        |   | AXA      Ordinary Shares |   |   | AXA      ADRs |   |   | AllianceBernstein      Holding Units |
|                        |   |                     |   |   | Weighted  |   |   |   |   |   | Weighted |   |   |   |   |   |  Weighted |   |
|                        |   | Number                   |   |   | Average  |   |   | Number |   |   | Average |   |   | Number |   |   | Average |   |
|                        |   | Outstanding              |   |   | Exercise |   |   | Outstanding |   |   | Exercise |   |   | Outstanding |   |   | Exercise |   |
|                        |   | (In      Millions)       |   |   | Price |   |   | (In      Millions) |   |   | Price |   |   | (In      Millions) |   |   | Price |   |
| Options      outstanding at |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| January      1, 2009        |   |                     | 13.8 |   |   | € | 26.54 |   |   |   | 12.3 |   |   | $ | 20.40 |   |   |   | 6.7 |   |   | $ | 66.11 |   |
| Options      granted        |   |                     | 2.1 |   |   | € | 10.78 |   |   |   | .2 |   |   | $ | 12.00 |   |   |   | 6.6 |   |   | $ | 17.06 |   |
| Options      exercised      |   |                     | .3 |   |   | € | - |   |   |   | (1.0 | ) |   | $ | 16.01 |   |   |   | - |   |   | $ | - |   |
| Options      forfeited, net |   |                     | (1.2 | ) |   | € | 27.06 |   |   |   | (.6 | ) |   | $ | 26.74 |   |   |   | (0.9 | ) |   | $ | 45.09 |   |
| Options      expired        |   |                     | - |   |   |   |   |   |   |   | - |   |   |   |   |   |   |   | (.3 | ) |   | $ | 30.21 |   |

| Options      Outstanding at |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |
|-----------------------------|--------|--------|--------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| December      31, 2009      |   |   | 15.0   |   |   | € | 23.75  |   |   |   | 10.9   |   |   | $      | 19.95  |   |   |   | 12.1 |   |   | $ | 41.79 |   |
| Aggregate      Intrinsic    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Value(1)                    |   |   |   |   |   | € | -      |   |   |   |   |   |   | $      | 64.4   |   |   |   |   |   |   | $ | - |   |
| Weighted      Average       |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Remaining                   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Contractual      Term       |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (in      years)             |   |   | 6.92   |   |   |    |   |   |   |   | 3.18   |   |   |   |   |   |   |   | - |   |   |   |   |   |
| Options      Exercisable at |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December      31, 2009      |   |   | 6.2    |   |   | € | 24.85  |   |   |   | 10.9   |   |   | $      | 19.4   |   |   |   | 2.8 |   |   | $ | 51.91 |   |
| Aggregate      Intrinsic    |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Value(1)                    |   |   |   |   |   | € | -      | (2)    |   |   |   |   |   | $      | 64.0   |   |   |   |   |   |   | $ | - | (2) |
| Weighted      Average       |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Remaining                   |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Contractual      Term       |   |   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (in      years)             |   |   | 5.54   |   |   |    |   |   |   |   | 3.16   |   |   |   |   |   |   |   | 2.9 |   |   |   |   |   |

|   | (1)   | Intrinsic      value, presented in millions, is calculated as the excess of the closing      market price on December 31, 2009 of the respective underlying shares over      the strike prices of the optionawards. |
|--------|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2)        | The      aggregate intrinsic value on options outstanding, exercisable and expected      to vest is negative and is therefore presented as zero in the table      above. |
|--------|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                 |   | AXA      Ordinary Shares |   | AllianceBernstein      Holding Units |
|--------------------------------------|--------|--------------------------|--------|--------------------------------------|
|                                 |   | 2009                     |   | 2008                                 |   | 2007 |   | 2009 |   | 2008 |   | 2007 |
|                                 |   |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Dividend      yield                  |   |                     | 10.69  | %                                    |   |   | 7.12 | % |   |   | 4.10 | % |   |   | 5.2-6.1 | % |   |   | 5.4 | % |   |   | 5.6-5.7 | % |
|                                 |   |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expected      volatility             |   |                     | 57.5   | %                                    |   |   | 34.7 | % |   |   | 27.5 | % |   |   | 0-44.6 | % |   |   | 29.3 | % |   |   | 27.7-30.8 | % |
|                                 |   |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Risk-free      interest rates        |   |                     | 2.74   | %                                    |   |   | 4.19 | % |   |   | 4.40 | % |   |   | 1.6-2.1 | % |   |   | 3.2 | % |   |   | 3.5-4.9 | % |
|                                 |   |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expected      life in years          |   |                     | 5.5    |                                 |   |   | 6.0 |   |   |   | 5.5 |   |   |   | 6.0-6.5 |   |   |   | 6.0 |   |   |   | 6.0-9.5 |   |
|                                 |   |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average fair value per |   |                     |   |                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| option      at grant date            |   | $                        | 2.57   |                                 |   | $ | 5.70 |   |   | $ | 9.61 |   |   | $ | 3.52 |   |   | $ | 10.85 |   |   | $ | 15.96 |   |

----

|                                  |           |   | Weighted        |   |
|---------------------------------------|----------------|--------|-----------------|--------|
|                                  | Shares      of |   | Average         |   |
|                                  | Restricted     |   | Grant      Date |   |
|                                  | Stock          |   | Fair      Value |   |
|                                  |           |   |            |   |   |   |
| Unvested      as of January 1, 2009   |           |   | 461,102         |   |   | $ | 31.92 |   |
| Granted                               |           |   | 63,088          |   |   | $ | 12.30 |   |
| Vested                                |           |   | 118,626         |   |   | $ | 22.31 |   |
| Forfeited                             |           |   | 1,079           |   |   |   |   |   |
| Unvested      as of December 31, 2009 |           |   | 404,485         |   |   | $ | 31.74 |   |

----

| 14)   | NET      INVESTMENT (LOSS) INCOME AND INVESTMENT GAINS (LOSSES),  NET |
|-----------------|-----------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009               |     |   | 2008   |   |    | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |
| Fixed      maturities                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                  | 1,582.3  |   |   | $      | 1,668.6 |   |   | $ | 1,728.5 |   |
| Mortgage      loans on real estate                                                                                                                                                                                                                                                                                                                                                                                         |   |               | 231.3    |   |   |   | 251.7   |   |   |   | 233.5 |   |
| Equity      real estate                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | 5.7      |   |   |   | 11.7    |   |   |   | 14.2 |   |
| Other      equity investments                                                                                                                                                                                                                                                                                                                                                                                              |   |               | (67.8    | )      |   |   | (110.9  | )      |   |   | 236.6 |   |
| Policy      loans                                                                                                                                                                                                                                                                                                                                                                                                          |   |               | 238.3    |   |   |   | 251.3   |   |   |   | 255.9 |   |
| Short-term      investments                                                                                                                                                                                                                                                                                                                                                                                                |   |               | 20.5     |   |   |   | 30.8    |   |   |   | 55.1 |   |
| Derivative      investments                                                                                                                                                                                                                                                                                                                                                                                                |   |               | (3,079.4 | )      |   |   | 7,302.1 |   |   |   | 86.6 |   |
| Broker-dealer      related receivables                                                                                                                                                                                                                                                                                                                                                                                     |   |               | 14.8     |   |   |   | 65.5    |   |   |   | 234.6 |   |
| Trading      securities                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | 137.2    |   |   |   | (343.5  | )      |   |   | 29.5 |   |
| Other      investment income                                                                                                                                                                                                                                                                                                                                                                                               |   |               | 14.2     |   |   |   | 27.9    |   |   |   | 51.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |    |   |   |   |   |   |
| Gross      investment (loss) income                                                                                                                                                                                                                                                                                                                                                                                        |   |               | (902.9   | )      |   |   | 9,155.2 |   |   |   | 2,926.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |    |   |   |   |   |   |
| Investment      expenses                                                                             |   |               | (73.2    | )      |   |   | (64.7   | )      |   |   | (78.1 | ) |
| Interest      expense                                                                                                                                                                                                                                                                                                                                                                                                      |   |               | (4.4     | )      |   |   | (36.5   | )      |   |   | (194.4 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               |     |   |   |   |    |   |   |   |   |   |
| Net      Investment (Loss)      Income                                                               |   | $                  | (980.5   | )      |   | $      | 9,054.0 |   |   | $ | 2,653.7 |   |

|                                |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|-------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                |   | (In      Millions) |   |
|                                |   |               |   |
| Fixed      maturities               |   | $                  | (2.5   | )      |   | $      | (367.3 | )      |   | $ | (55.6 | ) |
| Mortgage      loans on real estate  |   |               | -      |   |   |   | 2.3    |   |   |   | 7.8 |   |
| Equity      real estate             |   |               | (.1    | )      |   |   | (1.6   | )      |   |   | 7.3 |   |
| Other      equity investments       |   |               | 53.3   |   |   |   | 11.5   |   |   |   | 16.9 |   |
| Other(1)                            |   |               | 3.0    |   |   |   | 16.6   |   |   |   | 16.4 |   |
| Investment      Gains (Losses), Net |   | $                  | 53.7   |   |   | $      | (338.5 | )      |   | $ | (7.2 | ) |

| (1)   | In      2008 and 2007, respectively, AllianceBernstein issued units to its      employees under long-term incentive plans.  As a result of these      transactions, the Company recorded non-cash realized gains of $9.9 million      and $15.5 million for 2008 and 2007, respectively.  In 2009, the      FASB issued new guidance in which a gain or loss will be recognized only      when an entity loses control and deconsolidates a      subsidiary.  As a result, in 2009, no gain or loss was recorded      on these transactions. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                                                                     |   | 2009               |     |   | 2008   |   | 2007     |   |
|----------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|
|                                                                                                     |   | (In      Millions) |     |
|                                                                                                     |   |               |     |
| Balance,      Attributable to AXA Equitable,beginning      of year                                       |   | $                  | (1,270.8 | )      |   | $      | 103.6    |   |   | $ | 282.2 |   |
| Changes      in unrealized investment gains (losses) on investments                                      |   |               | 2,494.0  |   |   |   | (2,608.8 | )      |   |   | (380.5 | ) |
| Impact      of unrealized investment gains (losses) attributable to:                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Participating      group annuity contracts, Closed Block policyholder dividend obligation and      other |   |               | 58.2     |   |   |   | (163.7   | )      |   |   | 24.8 |   |
| DAC                                                                                                      |   |               | (578.4   | )      |   |   | 582.0    |   |   |   | 83.5 |   |
| Deferred      income tax (expense) benefit                                                               |   |               | (704.6   | )      |   |   | 746.2    |   |   |   | 103.4 |   |
| Total                                                                                                    |   |               | (1.6     | )      |   |   | (1,340.7 | )      |   |   | 113.4 |   |
| Less:      Changes in unrealized investment (gains) losses attributable      to noncontrolling interest  |   |               | (66.2    | )      |   |   | 69.9     |   |   |   | (9.8 | ) |
| Balance      Attributable to AXA Equitable, End      of Year                                             |   | $                  | (67.8    | )      |   | $      | (1,270.8 | )      |   | $ | 103.6 |   |
|                                                                                                     |   |               |     |   |   |   |     |   |   |   |   |   |

|                                                                                                     |   | 2009               |   |   | 2008   |   | 2007     |   |
|----------------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|----------|--------|
|                                                                                                     |   | (In      Millions) |   |
|                                                                                                     |   |               |   |
| Balance,      end of year comprises:                                                                     |   |               |   |   |   |   |     |   |   |
| Unrealized      investment gains (losses) on:                                                            |   |               |   |   |   |   |     |   |   |
| Fixed      maturities                                                                                    |   | $                  | 33.0   |   |   | $      | (2,450.4 | )      |   | $ | 155.5 |   |
| Other      equity investments                                                                            |   |               | 8.5    |   |   |   | (2.1     | )      |   |   | 0.8 |   |
| Total                                                                                                    |   |               | 41.5   |   |   |   | (2,452.5 | )      |   |   | 156.3 |   |
| Impact      of unrealized investment (losses) gains attributable      to:                                |   |               |   |   |   |   |     |   |   |   |   |   |
| Participating      group annuity contracts, Closed Block policyholder dividend obligation and      other |   |               | (70.4  | )      |   |   | (128.6   | )      |   |   | 35.1 |   |
| DAC                                                                                                      |   |               | (23.3  | )      |   |   | 555.1    |   |   |   | (26.9 | ) |
| Deferred      income tax (expense) benefit                                                               |   |               | (0.6   | )      |   |   | 704.0    |   |   |   | (42.2 | ) |
| Total                                                                                                    |   |               | (52.8  | )      |   |   | (1,322.0 | )      |   |   | 122.3 |   |
| Less:      (Income) loss attributable to noncontrolling      interest                                    |   |               | (15.0  | )      |   |   | 51.2     |   |   |   | (18.7 | ) |
| Balance      Attributable to AXA Equitable, End      of Year                                             |   | $                  | (67.8  | )      |   | $      | (1,270.8 | )      |   | $ | 103.6 |   |

|                            | 2009               |   | 2008     |   | 2007   |   |
|---------------------------------|--------------------|--------|----------|--------|--------|--------|
|                            | (In      Millions) |   |
|                            |               |   |
| Income      tax expense:        |               |   |     |   |   |   |   |   |   |
| Current      (benefit) expense  |               | $      | (81.1    | )      |   | $      | (319.7 | ) |   | $ | 464.0 |   |
| Deferred      (benefit) expense |               |   | (1,191.0 | )      |   |   | 2,010.2 |   |   |   | 288.5 |   |
| Total                           |               | $      | (1,272.1 | )      |   | $      | 1,690.5 |   |   | $ | 752.5 |   |

----

|                                             |   | 2009               |     |   | 2008   |   |    | 2007   |   |
|--------------------------------------------------|--------|--------------------|----------|--------|--------|--------|---------|--------|--------|
|                                             |   | (In      Millions) |     |
|                                             |   |               |     |
| Expected      income tax (benefit) expense       |   | $                  | (1,077.5 | )      |   | $      | 1,885.1 |   |   | $ | 937.5 |   |
| Noncontrolling      interest                     |   |               | (104.8   | )      |   |   | (132.3  | )      |   |   | (227.3 | ) |
| Separate      Accounts investment activity       |   |               | (71.6    | )      |   |   | (66.5   | )      |   |   | (52.0 | ) |
| Non-taxable      investment (loss) income        |   |               | (26.9    | )      |   |   | 26.1    |   |   |   | (21.7 | ) |
| Adjustment      of tax audit reserves            |   |               | (7.4     | )      |   |   | 9.9     |   |   |   | 21.5 |   |
| State      income taxes                          |   |               | 11.6     |   |   |   | 20.5    |   |   |   | 50.2 |   |
| AllianceBernstein      Federal and foreign taxes |   |               | 6.3      |   |   |   | (53.3   | )      |   |   | 40.2 |   |
| Other                                            |   |               | (1.8     | )      |   |   | 1.0     |   |   |   | 4.1 |   |
| Income      Tax (Benefit) Expense                |   | $                  | (1,272.1 | )      |   | $      | 1,690.5 |   |   | $ | 752.5 |   |

|                                   | December      31, 2009 |   | December      31, 2008 |   |
|----------------------------------------|------------------------|--------|------------------------|--------|
|                                   | Assets                 |   | Liabilities            |   | Assets |   | Liabilities |   |
|                                   | (In      Millions)     |   |
|                                   |                   |   |
| Compensation      and related benefits |                   | $      | 438.0                  |   |   | $ | - |   |   | $ | 297.1 |   |   | $ | - |   |
| Reserves      and reinsurance          |                   |   | -                      |   |   |   | 878.7 |   |   |   | - |   |   |   | 1,465.8 |   |
| DAC                                    |                   |   | -                      |   |   |   | 2,307.6 |   |   |   | - |   |   |   | 2,209.5 |   |
| Unrealized      investment losses      |                   |   | 40.2                   |   |   |   | - |   |   |   | 683.6 |   |   |   | - |   |
| Investments                            |                   |   | -                      |   |   |   | 584.7 |   |   |   | - |   |   |   | 722.2 |   |
| Other                                  |                   |   | 67.0                   |   |   |   | - |   |   |   | - |   |   |   | 47.0 |   |
| Total                                  |                   | $      | 545.2                  |   |   | $ | 3,771.0 |   |   | $ | 980.7 |   |   | $ | 4,444.5 |   |

----

|                                              |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|---------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                              |   | (In      Millions) |   |
| Balance      at January 1                         |   | $                  | 428.6  |   |   | $      | 343.6  |   |   | $ | 325.2 |   |
| Additions      for tax positions of prior years   |   |               | 146.2  |   |   |   | 81.3   |   |   |   | 19.2 |   |
| Reductions      for tax positions of prior years  |   |               | (50.2  | )      |   |   | (4.9   | )      |   |   | (1.5 | ) |
| Additions      for tax positions of current years |   |               | 1.3    |   |   |   | .9     |   |   |   | 3.4 |   |
| Reductions      for tax positions of current year |   |               | -      |   |   |   | -      |   |   |   | (0.3 | ) |
| Settlements      with tax authorities             |   |               | (5.8   | )      |   |   | 7.7    |   |   |   | (2.4 | ) |
| Balance,      December 31                         |   | $                  | 520.1  |   |   | $      | 428.6  |   |   | $ | 343.6 |   |

|                                                 |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|------------------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                 |   | (In      Millions) |   |
|                                                 |   |               |   |   |   |   |   |   |   |
| Earnings      (Losses) from Discontinued Operations, |   |               |   |   |   |   |   |   |   |
| Net      of Income Taxes:                            |   |               |   |   |   |   |   |   |   |
| Wind-up      Annuities                               |   | $                  | (9.7   | )      |   | $      | (27.5  | )      |   | $ | (.1 | ) |
| Real      estate held-for-sale                       |   |               | 12.4   |   |   |   | 22.7   |   |   |   | 6.8 |   |
| Disposal      of business - Enterprise               |   |               | -      |   |   |   | -      |   |   |   | 1.0 |   |
| Total                                                |   | $                  | 2.7    |   |   | $      | (4.8   | )      |   | $ | 7.7 |   |
|                                                 |   |               |   |   |   |   |   |   |   |   |   |   |
| Gains      on Disposal of Discontinued Operations,   |   |               |   |   |   |   |   |   |   |   |   |   |
| Net      of Income Taxes:                            |   |               |   |   |   |   |   |   |   |   |   |   |
| Real      estate held for sale                       |   | $                  | -      |   |   | $      | 6.3    |   |   | $ | 3.2 |   |
| Disposal      of business - Enterprise               |   |               | -      |   |   |   | -      |   |   |   | (.4 | ) |
| Total                                                |   | $                  | -      |   |   | $      | 6.3    |   |   | $ | 2.8 |   |

----

----

|                                                               |   | December      31,  |   |
|--------------------------------------------------------------------|--------|--------------------|--------|
|                                                               |   | 2009(1)            |   |   | 2008 |   |
|                                                               |   | (In      Millions) |   |
|                                                               |   |               |   |
| BALANCE      SHEETS                                                |   |               |   |   |   |   |
| Fixed      maturities, available for sale, at estimated fair value |   |               |   |   |   |   |
| (amortized      cost of $530.5 and $661.8)                         |   | $                  | 543.5  |   |   | $ | 602.1 |   |
| Mortgage      loans on real estate                                 |   |               | 150.4  |   |   |   | 1.2 |   |
| Equity      real estate                                            |   |               | 92.2   |   |   |   | 162.2 |   |
| Other      invested assets                                         |   |               | 84.4   |   |   |   | 1.3 |   |
| Total      investments                                             |   |               | 870.5  |   |   |   | 766.8 |   |
| Other      assets                                                  |   |               | .5     |   |   |   | 77.1 |   |
| Total      Assets                                                  |   | $                  | 871.0  |   |   | $ | 843.9 |   |
|                                                               |   |               |   |   |   |   |   |   |
| Policyholders      liabilities                                     |   | $                  | 705.1  |   |   | $ | 723.4 |   |
| Other      liabilities                                             |   |               | 165.9  |   |   |   | 120.5 |   |
| Total      Liabilities                                             |   | $                  | 871.0  |   |   | $ | 843.9 |   |

|   | (1) | Amounts      are now included in the consolidated balance sheet at December 31, 2009 on      a line-by-line basis. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|                                        |   | 2009               |   |   | 2008   |   |   | 2007   |   |
|---------------------------------------------|--------|--------------------|--------|--------|--------|--------|--------|--------|--------|
|                                        |   | (In      Millions) |   |
| STATEMENTS      OF EARNINGS                 |   |               |   |   |   |   |   |   |   |
| Investment      income (net of investment   |   |               |   |   |   |   |   |   |   |
| expenses      of $10.2, $19.3 and $19.6)    |   | $                  | 60.0   |   |   | $      | 64.0   |   |   | $ | 64.9 |   |
| Investment (losses)      gains, net:   |   |               |   |   |   |   |   |   |   |   |   |   |
| Total      OTTI losses                      |   |               | (5.1   | )      |   |   | (5.6   | )      |   |   | (8.6 | ) |
| Portion      of loss recognized in other    |   |               |   |   |   |   |   |   |   |   |   |   |
| comprehensive      income                   |   |               | -      |   |   |   | -      |   |   |   | - |   |
| Net      impairment losses recognized       |   |               | (5.1   | )      |   |   | (5.6   | )      |   |   | (8.6 | ) |
| Other      investment (losses) gains, net   |   |               | (1.3   | )      |   |   | .8     |   |   |   | 7.8 |   |
| Total      investment losses, net           |   |               | (6.4   | )      |   |   | (4.8   | )      |   |   | (.8 | ) |
| Policy      fees, premiums and other income |   |               | (2.8   | )      |   |   | .1     |   |   |   | .2 |   |
| Total      revenues                         |   |               | 50.8   |   |   |   | 59.3   |   |   |   | 64.3 |   |
|                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Benefits      and other deductions          |   |               | 69.2   |   |   |   | 101.7  |   |   |   | 80.0 |   |
| Losses      charged to the                  |   |               |   |   |   |   |   |   |   |   |   |   |
| allowance      for future losses            |   |               | -      |   |   |   | -      |   |   |   | (15.6 | ) |
| Pre-tax      loss from operations           |   |               | (18.4  | )      |   |   | (42.4  | )      |   |   | (.1 | ) |
|                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Income      tax benefit                     |   |               | 8.7    |   |   |   | 14.9   |   |   |   | - |   |
|                                        |   |               |   |   |   |   |   |   |   |   |   |   |
| Losses      from Wind-up Annuities          |   | $                  | (9.7   | )      |   | $      | (27.5  | )      |   | $ | (.1 | ) |

----

|                                                                                            | December      31,  |   |
|-------------------------------------------------------------------------------------------------|--------------------|--------|
|                                                                                            | 2009               |   | 2008 |   | 2007 |   |
|                                                                                            | (In      Millions) |   |
|                                                                                            |               |   |
| Unrealized      gains (losses) on investments                                                   |               | $      | 9.2 |   |   | $ | (1,322.0 | ) |   | $ | 122.3 |   |
| Defined      benefit pensions plans                                                             |               |   | (967.9 | ) |   |   | (964.8 | ) |   |   | (371.5 | ) |
| Impact      of implementing new accounting guidance, net of taxes                               |               |   | (62.0 | ) |   |   | - |   |   |   | - |   |
| Total      accumulated other comprehensive loss                                                 |               |   | (1,020.7  | ) |   |   | (2,286.8 | )  |   |   | (249.2 | ) |
| Accumulated      other comprehensive (income) loss attributable to noncontrolling      interest |               |   | (15.0 | ) |   |   | 51.2 |   |   |   | (18.7 | ) |
| Accumulated      Other Comprehensive Loss Attributable to AXA Equitable                         |               | $      | (1,035.7 | ) |   | $ | (2,235.6 | ) |   | $ | (267.9 | ) |

|                                                                               |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                               |   | (In      Millions) |     |
|                                                                               |   |               |     |
| Net      unrealized gains (losses) on investments:                                 |   |               |     |   |   |   |     |   |   |
| Net      unrealized gains (losses) arising during                                  |   |               |     |   |   |   |     |   |   |
| the      period                                                                    |   | $                  | 2,391.1  |   |   | $      | (2,533.5 | )      |   | $ | (357.8 | ) |
| (Gains)      losses reclassified into net (loss) earnings                          |   |               |     |   |   |   |     |   |   |   |   |   |
| during      the period                                                             |   |               | (164.9   | )      |   |   | 75.3     |   |   |   | 22.7 |   |
| Net      unrealized gains (losses) on investments                                  |   |               | 2,556.0  |   |   |   | (2,608.8 | )      |   |   | (380.5 | ) |
| Adjustments      for policyholders liabilities,                                    |   |               |     |   |   |   |     |   |   |   |   |   |
| DAC      and deferred income taxes                                                 |   |               | (1,224.8 | )      |   |   | 1,164.5  |   |   |   | 211.7 |   |
|                                                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Change      in unrealized gains (losses), net of adjustments                       |   |               | 1,331.2  |   |   |   | (1,444.3 | )      |   |   | (168.8 | ) |
| Change      in defined benefits pension plans                                      |   |               | (3.1     | )      |   |   | (593.3   | )      |   |   | 78.0 |   |
| Total      other comprehensive income (loss),net      of income taxes              |   |               | 1,328.1  |   |   |   | (2,037.6 | )      |   |   | (90.8 | ) |
| Other      comprehensive (income) lossattributable      to noncontrolling interest |   |               | (66.2    | )      |   |   | 69.9     |   |   |   | (9.8 | ) |
| Other      Comprehensive Income (Loss)Attributable      to AXA Equitable           |   | $                  | 1,261.9  |   |   | $      | (1,967.7 | )      |   | $ | (100.6 | ) |

----

|                            |   | December      31,  |          |
|---------------------------------|--------|--------------------|---------------|
|                            |   | 2009               |          |   | 2008 |   |   | 2007 |   |
|                            |   | (In      Millions) |          |
|                            |   |               |          |   |   |   |   |   |   |
| Balance,      beginning of year |   | $                  |  59.6    |   |   | $ | 30.7 |   |   | $ | 18.3 |   |
| Additions                       |   |               | 79.1          |   |   |   |  67.9 |   |   |   |  24.9 |   |
| Cash      payments              |   |               |  (111.5) |   |   |   |  (33.8) |   |   |   |  (10.8) |   |
| Other      reductions           |   |               |  (6.9)   |   |   |   |  (5.2) |   |   |   |  (1.7) |   |
| Balance,      End of Year       |   | $                  |  20.3    |   |   | $ |  59.6 |   |   | $ |  30.7 |   |

----

----

----

|                                                                                                                                                                                                                                                                                      |   | 2009               |     |   | 2008   |   |     | 2007   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|--------|
|                                                                                                                                                                                                                                                                                      |   | (In      Millions) |     |
|                                                                                                                                                                                                                                                                                      |   |               |     |
| Net      change in statutory surplus and                                                                                                                                                                                                                                                  |   |               |     |   |   |   |     |   |   |
| capital      stock                                                                                                                                                                                                                                                                        |   | $                  | (39.1    | )      |   | $      | (3,414.3 | )      |   | $ | 71.7 |   |
| Change      in AVR                                                                                                                                                                                                                                                                        |   |               | 288.9    |   |   |   | (808.4   | )      |   |   | (167.2 | ) |
| Net      change in statutory surplus, capital stock                                                                                                                                                                                                                                       |   |               |     |   |   |   |     |   |   |   |   |   |
| and      AVR                                                                                                                                                                                                                                                                              |   |               | 249.8    |   |   |   | (4,222.7 | )      |   |   | (95.5 | ) |
| Adjustments:                                                                                                                                                                                                                                                                              |   |               |     |   |   |   |     |   |   |   |   |   |
| Future      policy benefits and policyholders’                                                                                                                                                                                                                                      |   |               |     |   |   |   |     |   |   |   |   |   |
| account      balances                                                                                                                                                                                                                                                                     |   |               | (5,995.3 | )      |   |   | 3.2      |   |   |   | 415.1 |   |
| DAC                                                                                                                                                                                                                                                                                       |   |               | 860.4    |   |   |   | (2,089.9 | )      |   |   | 620.1 |   |
| Deferred      income taxes                                                                                                                                                                                                                                                                |   |               | 1,167.0  |   |   |   | (4,116.6 | )      |   |   | (677.8 | ) |
| Valuation      of investments                                                                                                                                                                                                                                                             |   |               | (659.3   | )      |   |   | 3,695.4  |   |   |   | 2.8 |   |
| Valuation      of investment subsidiary                                                                                                                                                                                                                                                   |   |               | (578.9   | )      |   |   | 5,046.4  |   |   |   | 461.7 |   |
| Change      in fair value of GMIBreinsurance      contracts                                                                                                                                                                                                                               |   |               | (2,565.9 | )      |   |   | 1,566.8  |   |   |   | 6.9 |   |
| Pension      adjustment                                                                                                                                                                                                                                                                   |   |               | 17.0     |   |   |   | 1,389.7  |   |   |   | - |   |
| Premiums      and benefits ceded to AXA Bermuda                                                                                                                                                                                                                                           |   |               | 5,540.8  |   |   |   | 2,846.7  |   |   |   | - |   |
| Issuance      of surplus      notes                                          |   |               | -        |   |   |   | (1,000.0 | )      |   |   | - |   |
| Shareholder      dividends paid                                                                                                                                                                                                                                                           |   |               | -        |   |   |   | -        |   |   |   | 600.0 |   |
| Changes      in non-admitted assets                                                                                                                                                                                                                                                       |   |               | 29.5     |   |   |   | 136.9    |   |   |   | 19.4 |   |
| Other,      net                                                                                                                                                                                                                                                                           |   |               | (32.4    | )      |   |   | (12.6    | )      |   |   | (150.3 | ) |
| U.S.      GAAP adjustments for Wind-up Annuities                                                                                                                                                                                                                                          |   |               | (195.5   | )      |   |   | (16.7    | )      |   |   | 31.2 |   |
| U.S.      GAAP Net (Loss) Earnings                                                                                                                                                                                                                                                        |   | $                  | (2,162.8 | )      |   | $      | 3,226.6  |   |   | $ | 1,233.6 |   |

----

|                                                                      |   | December      31,  |     |
|---------------------------------------------------------------------------|--------|--------------------|----------|
|                                                                      |   | 2009               |     |   | 2008 |   |   | 2007 |   |
|                                                                      |   | (In      Millions) |     |
|                                                                      |   |               |     |
| Statutory      surplus and capital stock                                  |   | $                  | 3,115.9  |   |   | $ | 3,155.0 |   |   | $ | 6,569.3 |   |
| AVR                                                                       |   |               | 722.0    |   |   |   | 433.1 |   |   |   | 1,242.7 |   |
| Statutory      surplus, capital stock and AVR                             |   |               | 3,837.9  |   |   |   | 3,588.1 |   |   |   | 7,812.0 |   |
| Adjustments:                                                              |   |               |     |   |   |   |   |   |   |   |   |   |
| Future      policy benefits and policyholders’account      balances |   |               | (1,463.6 | ) |   |   | (1,487.3 | ) |   |   | (2,270.2 | ) |
| DAC                                                                       |   |               | 7,745.2  |   |   |   | 7,482.0 |   |   |   | 9,019.3 |   |
| Deferred      income taxes                                                |   |               | (3,704.9 | ) |   |   | (4,585.1 | ) |   |   | (1,089.3 | ) |
| Valuation      of investments                                             |   |               | 672.8    |   |   |   | (2,312.5 | ) |   |   | 457.1 |   |
| Valuation      of investment subsidiary                                   |   |               | (1,018.9 | ) |   |   | 588.1 |   |   |   | (4,458.3 | ) |
| Fair      value of GMIB reinsurance contracts                             |   |               | 2,255.8  |   |   |   | 4,821.7 |   |   |   | 124.7 |   |
| Deferred      cost of insurance cededto      AXA Bermuda                  |   |               | 3,177.5  |   |   |   | 3,495.8 |   |   |   | - |   |
| Non-admitted      assets                                                  |   |               | 1,036.2  |   |   |   | 1,144.0 |   |   |   | 1,014.5 |   |
| Issuance      of surplus notes                                            |   |               | (1,524.9 | ) |   |   | (1,524.9 | ) |   |   | (524.8 | ) |
| Other,      net                                                           |   |               | (152.2   | ) |   |   | 141.3 |   |   |   | 76.0 |   |
| U.S.      GAAP adjustments for Wind-up Annuities                          |   |               | -        |   |   |   | 12.4 |   |   |   | 1.5 |   |
| U.S.      GAAP Total AXA Equitable Equity                                 |   | $                  | 10,860.9 |   |   | $ | 11,363.6 |   |   | $ | 10,162.5 |   |

|                           |   | 2009               |    |   | 2008   |   |     | 2007   |   |
|--------------------------------|--------|--------------------|---------|--------|--------|--------|----------|--------|--------|
|                           |   | (In      Millions) |    |
|                           |   |               |    |   |   |   |     |   |   |
| Segment      revenues:         |   |               |    |   |   |   |     |   |   |
| Insurance                      |   | $                  | 336.3   |   |   | $      | 15,075.4 |   |   | $ | 6,903.3 |   |
| Investment      Management (1) |   |               | 2,941.7 |   |   |   | 3,542.7  |   |   |   | 4,561.8 |   |
| Consolidation/elimination      |   |               | (36.0   | )      |   |   | (76.5    | )      |   |   | (91.4 | ) |
| Total      Revenues            |   | $                  | 3,242.0 |   |   | $      | 18,541.6 |   |   | $ | 11,373.7 |   |

|   | (1)  Intersegment      investment advisory and other fees of approximately $55.6 million, $93.3      million and $128.9 million for 2009, 2008 and 2007, respectively, are      included in total revenues of the Investment Management      segment. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Segment      (loss) earnings from continuing          |   | 2009   |     |   | 2008               |   |    | 2007   |   |
|-------------------------------------------------------|--------|--------|----------|--------|--------------------|--------|---------|--------|--------|
| operations      before income                         |   |   |     |   | (In      Millions) |   |    |   |   |
| taxes:                                                |   |   |     |   |               |   |    |   |   |
| Insurance                                             |   | $      | (3,665.7 | )      |               | $      | 4,453.8 |   |   | $ | 1,278.0 |   |
| Investment      Management                            |   |   | 588.7    |   |               |   | 932.2   |   |   |   | 1,400.5 |   |
| Consolidation/elimination                             |   |   | (1.7     | )      |               |   | (.4     | )      |   |   | - |   |
| Total      (Loss) Earnings from Continuing Operations |   |   |     |   |               |   |    |   |   |   |   |   |
| before      Income Taxes                              |   | $      | (3,078.7 | )      |               | $      | 5,385.6 |   |   | $ | 2,678.5 |   |

----

|                       |   | December      31,  |      |
|----------------------------|--------|--------------------|-----------|
|                       |   | 2009               |      |   | 2008 |   |
|                       |   | (In      Millions) |      |
|                       |   |               |      |   |   |   |
| Segment      assets:       |   |               |      |   |   |   |
| Insurance                  |   | $                  | 139,202.3 |   |   | $ | 123,757.3 |   |
| Investment      Management |   |               | 10,770.7  |   |   |   | 12,520.2 |   |
| Consolidation/elimination  |   |               | (68.6     | ) |   |   | (11.2 | ) |
| Total      Assets          |   | $                  | 149,904.4 |   |   | $ | 136,266.3 |   |

|                                                                   |   | Three      Months Ended |    |
|------------------------------------------------------------------------|--------|-------------------------|---------|
|                                                                   |   | March      31           |    |   | June      30 |   |   | September      30 |   |   | December      31 |   |
|                                                                   |   | (In      Millions)      |    |
| 2009                                                                   |   |                    |    |   |   |   |   |   |   |   |   |   |
| Total      Revenues                                                    |   | $                       | 1,320.3 |   |   | $ | (1,033.8 | ) |   | $ | 1,685.1 |   |   | $ | 1,270.4 |   |
|                                                                   |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss      from Continuing Operations,      Net      of Income Taxes    |   | $                       | (315.4  | ) |   | $ | (1,347.4 | ) |   | $ | (140.6 | ) |   | $ | (362.1 | ) |
|                                                                   |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Loss, Attributable to AXA      Equitable                      |   | $                       | (310.3  | ) |   | $ | (1,343.9 | ) |   | $ | (145.1 | ) |   | $ | (363.5 | ) |
|                                                                   |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 2008                                                                   |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Revenues                                                    |   | $                       | 3,782.6 |   |   | $ | 2,401.3 |   |   | $ | 3,377.7 |   |   | $ | 8,980.0 |   |
|                                                                   |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      from Continuing Operations,Net      of Income      Taxes |   | $                       | 595.6   |   |   | $ | 505.1 |   |   | $ | 91.6 |   |   | $ | 2,032.8 |   |
|                                                                   |   |                    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Earnings, Attributable toAXA      Equitable                   |   | $                       | 607.4   |   |   | $ | 510.6 |   |   | $ | 96.6 |   |   | $ | 2,012.0 |   |

----

----

|                                                            |   |               |     |   |            |   |     | Carrying |   |
|-----------------------------------------------------------------|--------|--------------------|----------|--------|-----------------|--------|----------|----------|--------|
| Type of Investment                                              |   | Cost      (A)      |     |   | Fair      Value |   |     | Value    |   |
|                                                            |   | (In      Millions) |     |
| Fixed      maturities:                                          |   |               |     |   |            |   |     |     |   |
| U.S.      government, agencies and authorities                  |   | $                  | 1,830.1  |   |            | $      | 1,690.0  |     |   | $ | 1,690.0 |   |
| State,      municipalities and political subdivisions           |   |               | 374.5    |   |            |   | 367.5    |     |   |   | 367.5 |   |
| Foreign      governments                                        |   |               | 270.4    |   |            |   | 302.3    |     |   |   | 302.3 |   |
| Public      utilities                                           |   |               | 3,308.4  |   |            |   | 3,450.6  |     |   |   | 3,450.6 |   |
| All      other corporate bonds                                  |   |               | 20,041.1 |   |            |   | 20,198.6 |     |   |   | 20,198.6 |   |
| Redeemable      preferred stocks                                |   |               | 1,672.3  |   |            |   | 1,461.2  |     |   |   | 1,461.2 |   |
| Total      fixed maturities                                     |   |               | 27,496.8 |   |            |   | 27,470.2 |     |   |   | 27,470.2 |   |
| Equity      securities:                                         |   |               |     |   |            |   |     |     |   |   |   |   |
| Common      stocks:                                             |   |               |     |   |            |   |     |     |   |   |   |   |
| Industrial,      miscellaneous and all other                    |   |               | 43.9     |   |            |   | 53.6     |     |   |   | 53.6 |   |
| Mortgage      loans on real estate                              |   |               | 3,554.8  |   |            |   | 3,547.4  |     |   |   | 3,554.8 |   |
| Real      estate joint ventures                                 |   |               | 98.5     |   |            |   | N/A      |     |   |   | 98.5 |   |
| Policy      loans                                               |   |               | 3,616.8  |   |            |   | 4,332.6  |     |   |   | 3,616.8 |   |
| Other      limited partnership interests and equity investments |   |               | 1,508.7  |   |            |   | 1,508.7  |     |   |   | 1,508.7 |   |
| Trading      securities                                         |   |               | 331.7    |   |            |   | 484.6    |     |   |   | 484.6 |   |
| Other      invested assets                                      |   |               | 1,482.6  |   |            |   | 1,482.6  |     |   |   | 1,482.6 |   |
|                                                            |   |               |     |   |            |   |     |     |   |   |   |   |
| Total      Investments                                          |   | $                  | 38,133.8 |   |            | $      | 38,879.7 |     |   | $ | 38,269.8 |   |

| (A)   | Cost      for fixed maturities represents original cost, reduced by repayments and      writedowns and adjusted for amortization of premiums or accretion of      discount; cost for equity securities represents original cost reduced by      writedowns; cost for other limited partnership interests represents      original cost adjusted for equity in earnings and reduced by      distributions. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                        |   | 2009               |      |   | 2008   |   |
|-----------------------------------------------------------------------------------------------------------------------------|--------|--------------------|-----------|--------|--------|--------|
|                                                                                                                        |   | (In      Millions) |      |
|                                                                                                                        |   |               |      |
| ASSETS                                                                                                                      |   |               |      |   |   |   |
| Investment:                                                                                                                 |   |               |      |   |   |   |
| Fixed      maturities available for sale, at fair value (amortized cost of      $27,456.9      and $26,191.2, respectively) |   | $                  | 27,425.9  |   |   |   | 23,795.9 |   |
| Mortgage      loans on real estate                                                                                          |   |               | 3,554.8   |   |   |   | 3,673.9 |   |
| Equity      real estate, held for the production of income                                                                  |   |               | 98.8      |   |   |   | 370.6 |   |
| Policy      loans                                                                                                           |   |               | 3,616.8   |   |   |   | 3,700.3 |   |
| Investments      in and loans to affiliates                                                                                 |   |               | 1,025.2   |   |   |   | 967.6 |   |
| Other      equity investments                                                                                               |   |               | 1,295.1   |   |   |   | 1,408.5 |   |
| Other      invested assets                                                                                                  |   |               | 1,474.8   |   |   |   | 1,501.4 |   |
| Total      investments                                                                                                      |   |               | 38,491.4  |   |   |   | 35,418.2 |   |
| Cash      and cash equivalents                                                                                              |   |               | 1,079.8   |   |   |   | 1,730.7 |   |
| Deferred      policy acquisition costs                                                                                      |   |               | 7,745.2   |   |   |   | 7,482.0 |   |
| Amounts      due from reinsurers                                                                                            |   |               | 3,028.0   |   |   |   | 2,896.8 |   |
| Other      assets                                                                                                           |   |               | 8,030.7   |   |   |   | 12,700.1 |   |
| Loans      to affiliates                                                                                                    |   |               | 898.9     |   |   |   | 588.3 |   |
| Separate      Accounts’ assets                                                                                        |   |               | 84,016.5  |   |   |   | 67,627.0 |   |
|                                                                                                                        |   |               |      |   |   |   |   |   |
| Total      Assets                                                                                                           |   | $                  | 143,290.5 |   |   | $      | 128,443.1 |   |
|                                                                                                                        |   |               |      |   |   |   |   |   |
| LIABILITIES                                                                                                                 |   |               |      |   |   |   |   |   |
| Policyholders’      account balances                                                                                  |   | $                  | 24,107.3  |   |   | $      | 24,750.4 |   |
| Future      policy benefits and other policyholders liabilities                                                             |   |               | 17,691.2  |   |   |   | 17,693.9 |   |
| Short-term      and long-term debt                                                                                          |   |               | 199.9     |   |   |   | 1,524.9 |   |
| Income      taxes payable                                                                                                   |   |               | 2,608.1   |   |   |   | 3,025.6 |   |
| Other      liabilities                                                                                                      |   |               | 3,806.6   |   |   |   | 2,457.7 |   |
| Separate      Accounts’ liabilities                                                                                   |   |               | 84,016.5  |   |   |   | 67,627.0 |   |
| Total      liabilities                                                                                                      |   |               | 132,429.6 |   |   |   | 117,079.5 |   |
|                                                                                                                        |   |               |      |   |   |   |   |   |
| SHAREHOLDER’S      EQUITY                                                                                             |   |               |      |   |   |   |   |   |
| Common      stock, $1.25 par value, 2.0 million shares authorized,    issued                                                |   |               |      |   |   |   |   |   |
| and      outstanding                                                                                                        |   |               | 2.5       |   |   |   | 2.5 |   |
| Capital      in excess of par value                                                                                         |   |               | 5,582.3   |   |   |   | 5,184.1 |   |
| Retained      earnings                                                                                                      |   |               | 6,311.8   |   |   |   | 8,412.6 |   |
| Accumulated      other comprehensive loss                                                                                   |   |               | (1,035.7  | )      |   |   | (2,235.6 | ) |
| Total      AXA Equitable’s equity                                                                                     |   |               | 10,860.9  |   |   |   | 11,363.6 |   |
|                                                                                                                        |   |               |      |   |   |   |   |   |
| Total      Liabilities and AXA Equitable’s Equity                                                                     |   | $                  | 143,290.5 |   |   | $      | 128,443.1 |   |

----

|                                                                                   |   | 2009               |     |   | 2008   |   |     | 2007  |   |
|----------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|------------|--------|
|                                                                                   |   | (In      Millions) |
| REVENUES                                                                               |   |               |     |   |   |   |     |       |   |
| Universal      life and investment-type product policy fee      income                 |   | $                  | 2,918.4  |   |   | $      | 2,956.3  |       |   | $ | 2,741.6 |   |
| Premiums                                                                               |   |               | 431.1    |   |   |   | 752.5    |       |   |   | 800.0 |   |
| Net      investment (loss) income:                                                     |   |               |     |   |   |   |     |       |   |   |   |   |
| Investment      (loss) income from derivative instruments                              |   |               | (3,079.4 | )      |   |   | 7,302.1  |       |   |   | 86.6 |   |
| Other      investment income                                                           |   |               | 1,958.4  |   |   |   | 2,030.0  |       |   |   | 2,423.0 |   |
| Total      net investment (loss) income                                                |   |               | (1,121.0 | )      |   |   | 9,332.1  |       |   |   | 2,509.6 |   |
| Investment      gains (losses), net:                                                   |   |               |     |   |   |   |     |       |   |   |   |   |
| Total      other-than-temporary impairment losses                                      |   |               | (167.9   | )      |   |   | (282.5   | )          |   |   | (77.8 | ) |
| Portion      of loss recognized in other      comprehensive income                     |   |               | 5.9      |   |   |   | -        |       |   |   | - |   |
| Net      impairment losses recognized                                                  |   |               | (162.0   | )      |   |   | (282.5   | )          |   |   | (77.8 | ) |
| Other      investment gains (losses), net                                              |   |               | 164.7    |   |   |   | (75.1    | )          |   |   | 38.8 |   |
| Total      investment gains (losses), net                                              |   |               | 2.7      |   |   |   | (357.6   | )          |   |   | (39.0 | ) |
| Equity      in earnings of subsidiaries                                                |   |               | 482.5    |   |   |   | 729.8    |       |   |   | 1,048.4 |   |
| Commissions,      fees and other income                                                |   |               | 601.3    |   |   |   | 724.1    |       |   |   | 761.0 |   |
| (Decrease)      increase in fair value of reinsurance contracts                        |   |               | (2,565.9 | )      |   |   | 1,566.8  |       |   |   | 6.9 |   |
| Total      revenues                                                                    |   |               | 749.1    |   |   |   | 15,704.0 |       |   |   | 7,828.5 |   |
|                                                                                   |   |               |     |   |   |   |     |       |   |   |   |   |
| BENEFITS      AND OTHER DEDUCTIONS                                                     |   |               |     |   |   |   |     |       |   |   |   |   |
| Policyholders’      benefits                                                     |   |               | 1,299.2  |   |   |   | 4,692.4  |       |   |   | 1,993.5 |   |
| Interest      credited to policyholders’ account balances                        |   |               | 1,004.3  |   |   |   | 1,065.3  |       |   |   | 1,044.4 |   |
| Compensation      and benefits                                                         |   |               | 755.0    |   |   |   | 675.0    |       |   |   | 734.2 |   |
| Commissions                                                                            |   |               | 1,073.6  |   |   |   | 1,518.3  |       |   |   | 1,835.3 |   |
| Interest      expense                                                                  |   |               | 106.4    |   |   |   | 40.3     |       |   |   | 35.0 |   |
| Amortization      of deferred policy acquisition costs                                 |   |               | 115.0    |   |   |   | 3,483.9  |       |   |   | 1,095.2 |   |
| Capitalization      of deferred policy acquisition costs                               |   |               | (975.3   | )      |   |   | (1,394.0 | )          |   |   | (1,718.7 | ) |
| Rent      expense                                                                      |   |               | 57.9     |   |   |   | 47.1     |       |   |   | 47.4 |   |
| Amortization      and depreciation                                                     |   |               | 62.8     |   |   |   | 63.0     |       |   |   | 65.8 |   |
| Premium      taxes                                                                     |   |               | 36.2     |   |   |   | 38.6     |       |   |   | 41.5 |   |
| Other      operating costs and expenses                                                |   |               | 373.1    |   |   |   | 265.6    |       |   |   | 300.5 |   |
| Total      benefits and other deductions                                               |   |               | 3,908.2  |   |   |   | 10,495.5 |       |   |   | 5,474.1 |   |
|                                                                                   |   |               |     |   |   |   |     |       |   |   |   |   |
| (Loss)      earnings from continuing operations before income      taxes               |   |               | (3,159.1 | )      |   |   | 5,208.5  |       |   |   | 2,354.4 |   |
| Income      tax benefit (expense)                                                      |   |               | 1,352.5  |   |   |   | (1,513.4 | )          |   |   | (428.4 | ) |
| (Loss)      earnings from continuing operations                                        |   |               | (1,806.6 | )      |   |   | 3,695.1  |       |   |   | 1,926.0 |   |
| Equity      in earnings (losses) from discontinued operations,net      of income taxes |   |               | 2.7      |   |   |   | (4.8     | )          |   |   | 7.7 |   |
| Equity      in gains on sale of discontinued operations,net      of income taxes       |   |               | -        |   |   |   | 6.3      |       |   |   | 2.8 |   |
| Net      (Loss) Earnings                                                               |   | $                  | (1,803.9 | )      |   | $      | 3,696.6  |       |   | $ | 1,936.5 |   |

----

|                                                                                     |   | 2009               |     |   | 2008   |   | 2007     |   |
|------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|--------|--------|----------|--------|
|                                                                                     |   | (In      Millions) |     |
| Net      (loss) earnings                                                                 |   | $                  | (1,803.9 | )      |   | $      | 3,696.6  |   |   | $ | 1,936.5 |   |
| Adjustments      to reconcile net (loss) earnings to net cash                            |   |               |     |   |   |   |     |   |   |   |   |   |
| provided      by operating activities:                                                   |   |               |     |   |   |   |     |   |   |   |   |   |
| Interest      credited to policyholders’ account balances                          |   |               | 1,004.3  |   |   |   | 1,065.3  |   |   |   | 1,044.4 |   |
| Universal      life and investment-type policy fee income                                |   |               | (2,918.4 | )      |   |   | (2,956.3 | )      |   |   | (2,741.6 | ) |
| Investment      (gains) losses, net                                                      |   |               | (2.7     | )      |   |   | 357.6    |   |   |   | 39.0 |   |
| Equity      in net earnings of subsidiaries                                              |   |               | (482.5   | )      |   |   | (731.9   | )      |   |   | (1,048.4 | ) |
| Dividends      from subsidiaries                                                         |   |               | 121.4    |   |   |   | 242.4    |   |   |   | 442.5 |   |
| Change      in deferred policy acquisition costs                                         |   |               | (860.3   | )      |   |   | 2,089.9  |   |   |   | (623.5 | ) |
| Change      in future policy benefits and other policyholder funds                       |   |               | (755.2   | )      |   |   | 2,398.0  |   |   |   | 96.9 |   |
| Net      investment loss (income) related to derivative instruments                      |   |               | 3,079.4  |   |   |   | (7,302.1 | )      |   |   | (86.6 | ) |
| Change      in reinsurance recoverable with affiliate                                    |   |               | 1,485.7  |   |   |   | (6,351.5 | )      |   |   | - |   |
| Change      in prepaid pension asset                                                     |   |               | (.7      | )      |   |   | 213.3    |   |   |   | (2.3 | ) |
| Change      in fair value of guaranteed minimum income benefit reinsurance      contract |   |               | 2,565.9  |   |   |   | (1,566.8 | )      |   |   | (6.9 | ) |
| Change      in income tax payable                                                        |   |               | (1,149.7 | )      |   |   | 1,171.4  |   |   |   | 442.7 |   |
| Amortization      of reinsurance cost                                                    |   |               | 318.3    |   |   |   | 11.0     |   |   |   | - |   |
| Amortization      and depreciation                                                       |   |               | 93.6     |   |   |   | 70.9     |   |   |   | 71.7 |   |
| Other,      net                                                                          |   |               | 121.8    |   |   |   | 5.6      |   |   |   | 263.0 |   |
|                                                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash provided by (used in) operating activities                                 |   |               | 817.0    |   |   |   | (7,586.6 | )      |   |   | (172.6 | ) |
|                                                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Cash      flows from investing activities:                                               |   |               |     |   |   |   |     |   |   |   |   |   |
| Maturities      and repayments                                                           |   |               | 2,055.2  |   |   |   | 1,721.8  |   |   |   | 2,115.7 |   |
| Sales                                                                                    |   |               | 6,522.0  |   |   |   | 605.0    |   |   |   | 2,125.5 |   |
| Purchases                                                                                |   |               | (8,565.6 | )      |   |   | (2,033.5 | )      |   |   | (3,397.0 | ) |
| Cash      settlements related to derivative instruments                                  |   |               | (2,564.6 | )      |   |   | 5,337.0  |   |   |   | (98.3 | ) |
| Increase      in loans to affiliates                                                     |   |               | (250.0   | )      |   |   | -        |   |   |   | (650.0 | ) |
| Decrease      in loans to affiliates                                                     |   |               | 1.1      |   |   |   | -        |   |   |   | 400.0 |   |
| Sale      of AXA Equitable Life and Annuity                                              |   |               | -        |   |   |   | 60.8     |   |   |   | - |   |
| Change      in short-term investments                                                    |   |               | 140.3    |   |   |   | 29.3     |   |   |   | 107.0 |   |
| Change      in policy loans                                                              |   |               | 83.6     |   |   |   | (7.7     | )      |   |   | (40.7 | ) |
| Other,      net                                                                          |   |               | (56.6    | )      |   |   | (30.3    | )      |   |   | (85.3 | ) |
|                                                                                     |   |               |     |   |   |   |     |   |   |   |   |   |
| Net      cash (used in) provided by investing activities                                 |   |               | (2,634.6 | )      |   |   | 5,682.4  |   |   |   | 476.9 |   |
|                                                                                     |   |               |     |   |   |   |     |   |   |   |   |   |

----

|                                                     |   | 2009               |     |   | 2008   |    | 2007     |   |
|----------------------------------------------------------|--------|--------------------|----------|--------|--------|---------|----------|--------|
|                                                     |   | (In      Millions) |     |
| Cash      flows from financing activities:               |   |               |     |   |   |    |     |   |   |
| Policyholders’      account balances:              |   |               |     |   |   |    |     |   |   |
| Deposits                                                 |   | $             | 3,394.9  |   |   | $  | 4,399.5  |   |   | $  | 4,127.6 |   |
| Withdrawals      and transfers to Separate Accounts      |   |               | (2,160.9 | )      |   |    | (2,598.1 | )      |   |   | (3,812.8 | ) |
| Shareholder      dividends paid                          |   |               | -        |   |   |    | -        |   |   |   | (600.0 | ) |
| Capital      contribution                                |   |               | 438.9    |   |   |    | -        |   |   |   | - |   |
| Change      in short-term financings                     |   |               | -        |   |   |    | (248.7   | )      |   |   | - |   |
| Increase      in collateralized pledged liabilities      |   |               | 126.1    |   |   |    | 568.7    |   |   |   | - |   |
| Increase      in collateralized pledged assets           |   |               | (632.3   | )      |   |    | -        |   |   |   | - |   |
| Increase      in loans from affiliates                   |   |               | -        |   |   |    | 1,000.0  |   |   |   | - |   |
| Other,      net                                          |   |               | -        |   |   |    |     |   |   |   | 15.5 |   |
|                                                     |   |               |     |   |   |    |     |   |   |   |   |   |
| Net      cash provided by (used in) financing activities |   |               | 1,166.7  |   |   |    | 3,121.4  |   |   |   | (269.7 | ) |
|                                                     |   |               |     |   |   |    |     |   |   |   |   |   |
| Change      in cash and cash equivalents                 |   |               | (650.9   | )      |   |    | 1,217.2  |   |   |   | 34.6 |   |
|                                                     |   |               |     |   |   |    |     |   |   |   |   |   |
| Cash      and cash equivalents, beginning of year        |   |               | 1,730.7  |   |   |    | 513.5    |   |   |   | 478.9 |   |
|                                                     |   |               |     |   |   |    |     |   |   |   |   |   |
| Cash      and Cash Equivalents, End of Year              |   | $                  | 1,079.8  |   |   | $       | 1,730.7  |   |   | $ | 513.5 |   |
|                                                     |   |               |     |   |   |    |     |   |   |   |   |   |
| Supplemental      cash flow information:                 |   |               |     |   |   |    |     |   |   |   |   |   |
| Interest      Paid                                       |   | $                  | 15.4     |   |   | $       | 22.8     |   |   | $ | 29.2 |   |
| Income      Taxes (Refunded) Paid                        |   | $                  | (20.3    | )      |   | $       | 124.8    |   |   | $ | 115.0 |   |

----

|                       |   |               |   |                 |   | Future      Policy   |   | Policy         |   |       |   |                 |   | Amortization     |   |          |   |
|----------------------------|--------|--------------------|--------|----------------------|--------|----------------------|--------|----------------|--------|------------|--------|----------------------|--------|------------------|--------|---------------|--------|
|                       |   | Deferred           |   |                 |   | Benefits             |   | Charges        |   |  Net  |   | Policyholders’ |   | of      Deferred |   |          |   |
|                       |   | Policy             |   | Policyholders’ |   | And      Other       |   | and            |   | Investment |   | Benefits      and    |   | Policy           |   | Other         |   |
|                       |   | Acquisition        |   | Account              |   | Policyholders’ |   | Premium        |   | (Loss)     |   | Interest             |   | Acquisition      |   | Operating     |   |
| Segment                    |   | Costs              |   | Balances             |   | Funds                |   | Revenue        |   | Income(1)  |   | Credited             |   | Costs            |   | Expense(2)    |   |
|                       |   | (In      Millions) |   |
|                       |   |               |   |
| Insurance                  |   |               | $      |  7,745.2   |   |                 | $      |  24,107.3 |   |       | $      |  17,726.7       |   |             | $      |  3,349.5 |   |   | $ |  (1,147.8) |   |   | $ |  2,302.4 |   |   | $ |  115.0 |   |   | $ |  1,584.6 |   |
| Investment      Management |   |               |   | -                    |   |                 |   | -              |   |       |   | -                    |   |             |   | -             |   |   |   |  149.5 |   |   |   | - |   |   |   | - |   |   |   |  2,353.0 |   |
| Consolidation/elimination  |   |               |   | -                    |   |                 |   | -              |   |       |   | -                    |   |             |   | -             |   |   |   |  17.8 |   |   |   | - |   |   |   | - |   |   |   |  (34.3) |   |
| Total                      |   |               | $      |  7,745.2        |   |                 | $      |  24,107.3 |   |       | $      |  17,726.7       |   |             | $      |  3,349.5 |   |   | $ |  (980.5) |   |   | $ |  2.302.4 |   |   | $ |  115.0 |   |   | $ |  3,903.3 |   |

| (1)   | Net      investment (loss) income is based upon specific identification of      portfolios within segments. |
|-----------------|-------------------------------------------------------------------------------------------------------------|

| (2)   | Operating      expenses are principally incurred directly by a  segment. |
|-----------------|--------------------------------------------------------------------------|

----

|                       |   |               |   |                 |   | Future      Policy   |   | Policy   |   |       |   |                 |   | Amortization     |   |       |   |
|----------------------------|--------|--------------------|--------|----------------------|--------|----------------------|--------|----------|--------|------------|--------|----------------------|--------|------------------|--------|------------|--------|
|                       |   | Deferred           |   |                 |   | Benefits             |   | Charges  |   |       |   | Policyholders’ |   | of      Deferred |   |       |   |
|                       |   | Policy             |   | Policyholders’ |   | And      Other       |   | and      |   | Net        |   | Benefits      and    |   | Policy           |   | Other      |   |
|                       |   | Acquisition        |   | Account              |   | Policyholders’ |   | Premium  |   | Investment |   | Interest             |   | Acquisition      |   | Operating  |   |
| Segment                    |   | Costs              |   | Balances             |   | Funds                |   | Revenue  |   | Income(1)  |   | Credited             |   | Costs            |   | Expense(2) |   |
|                       |   | (In      Millions) |   |
|                       |   |               |   |
| Insurance                  |   |               | $      | 7,482.0              |   |                 | $      | 24,742.5 |   |       | $      | 17,733.1             |   |             | $      | 3,710.3    |   |   | $ | 9,324.8 |   |   | $ | 5,767.9 |   |   | $ | 3,484.7 |   |   | $ | 1,369.0 |   |
| Investment      Management |   |               |   | -                    |   |                 |   | -        |   |       |   | -                    |   |             |   | -          |   |   |   | (287.4 | ) |   |   | - |   |   |   | - |   |   |   | 2,610.5 |   |
| Consolidation/elimination  |   |               |   | -                    |   |                 |   | -        |   |       |   | -                    |   |             |   | -          |   |   |   | 16.6 |   |   |   | - |   |   |   | - |   |   |   | (76.1 | ) |
| Total                      |   |               | $      | 7,482.0              |   |                 | $      | 24,742.5 |   |       | $      | 17,733.1             |   |             | $      | 3,710.3    |   |   | $ | 9,054.0 |   |   | $ | 5,767.9 |   |   | $ | 3,484.7 |   |   | $ | 3,903.4 |   |

| (1)   | Net      investment income is based upon specific identification of portfolios      within segments. |
|-----------------|------------------------------------------------------------------------------------------------------|

| (2)   | Operating      expenses are principally incurred directly by a  segment. |
|-----------------|--------------------------------------------------------------------------|

----

|                       |   | Policy             |   |       |   |                 |   | Amortization     |   |       |   |
|----------------------------|--------|--------------------|--------|------------|--------|----------------------|--------|------------------|--------|------------|--------|
|                       |   | Charges            |   |       |   | Policyholders’ |   | of      Deferred |   |       |   |
|                       |   | and                |   | Net        |   | Benefits      and    |   | Policy           |   | Other      |   |
|                       |   | Premium            |   | Investment |   | Interest             |   | Acquisition      |   | Operating  |   |
| Segment                    |   | Revenue            |   | Income(1)  |   | Credited             |   | Costs            |   | Expense(2) |   |
|                       |   | (In      Millions) |   |
|                       |   |               |   |
| Insurance                  |   |               | $      | 3,546.6    |   |                 | $      | 2,513.7          |   |       | $      | 3,063.7 |   |   | $ | 1,099.2 |   |   | $ | 1,462.4 |   |
| Investment      Management |   |               |   | -          |   |                 |   | 122.3            |   |       |   | - |   |   |   | - |   |   |   | 3,161.3 |   |
| Consolidaton/Elimination   |   |               |   | -          |   |                 |   | 17.7             |   |       |   | - |   |   |   | - |   |   |   | (91.4 | ) |
| Total                      |   |               | $      | 3,546.6    |   |                 | $      | 2,653.7          |   |       | $      | 3,063.7 |   |   | $ | 1,099.2 |   |   | $ | 4,532.3 |   |

| (1)   | Net      investment income is based upon specific identification of portfolios      within segments. |
|-----------------|------------------------------------------------------------------------------------------------------|

| (2)   | Operating      expenses are principally incurred directly by a  segment. |
|-----------------|--------------------------------------------------------------------------|

----

|                              |   |                       |      |   |          |   |      | Assumed   |   |   |     |   |   | Percentage     |
|-----------------------------------|--------|----------------------------|-----------|--------|---------------|--------|-----------|-----------|--------|--------|----------|--------|--------|----------------|
|                              |   |                       |      |   | Ceded      to |   |      | from      |   |   |     |   |   | of      Amount |
|                              |   | Gross                      |      |   | Other         |   |      | Other     |   |   | Net      |   |   | Assumed        |
|                              |   | Amount                     |      |   | Companies     |   |      | Companies |   |   | Amount   |   |   | to      Net    |
|                              |   | (Dollars      In Millions) |      |
| 2009                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |
| Life      Insurance In-Force      |   | $                          | 353,626.3 |   |          | $      | 142,587.7 |      |   | $      | 40,004.7 |   |   | $              | 251,043.3 |   |   |   | 15.9 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Premiums:                         |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      insurance and annuities |   | $                          | 730.5     |   |          | $      | 535.4     |      |   | $      | 183.1    |   |   | $              | 378.2 |   |   |   | 48.4 | % |
| Accident      and health          |   |                       | 107.7     |   |          |   | 73.7      |      |   |   | 18.9     |   |   |           | 52.9 |   |   |   | 35.7 | % |
| Total      Premiums               |   | $                          | 838.2     |   |          | $      | 609.1     |      |   | $      | 202.0    |   |   | $              | 431.1 |   |   |   | 46.9 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| 2008                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      Insurance In-Force      |   | $                          | 336,299.5 |   |          | $      | 155,465.8 |      |   | $      | 40,939.1 |   |   | $              | 221,772.8 |   |   |   | 18.46 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Premiums:                         |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      insurance and annuities |   | $                          | 733.5     |   |          | $      | 204.9     |      |   | $      | 170.5    |   |   | $              | 699.1 |   |   |   | 24.39 | % |
| Accident      and health          |   |                       | 114.8     |   |          |   | 78.6      |      |   |   | 23.3     |   |   |           | 59.5 |   |   |   | 39.16 | % |
| Total      Premiums               |   | $                          | 848.3     |   |          | $      | 283.5     |      |   | $      | 193.8    |   |   | $              | 758.6 |   |   |   | 25.55 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| 2007                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      Insurance In-Force      |   | $                          | 319,395.8 |   |          | $      | 129,342.7 |      |   | $      | 42,201.0 |   |   | $              | 232,254.1 |   |   |   | 18.17 | % |
|                              |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Premiums:                         |   |                       |      |   |          |   |      |      |   |   |     |   |   |           |   |   |   |   |   |   |
| Life      insurance and annuities |   | $                          | 735.1     |   |          | $      | 159.7     |      |   | $      | 168.0    |   |   | $              | 743.4 |   |   |   | 22.60 | % |
| Accident      and health          |   |                       | 120.0     |   |          |   | 83.5      |      |   |   | 25.0     |   |   |           | 61.5 |   |   |   | 40.65 | % |
| Total      Premiums               |   | $                          | 855.1     |   |          | $      | 243.2     |      |   | $      | 193.0    |   |   | $              | 804.9 |   |   |   | 23.99 | % |

| (A)   | Includes      amounts related to the discontinued group life and health      business. |
|-----------------|----------------------------------------------------------------------------------------|

----

----

----

----

----

----

----

----

|                                         | 2009                |   | 2008   |   |
|----------------------------------------------|---------------------|--------|--------|--------|
|                                         | (In      Thousands) |   |
| Principal      Accounting Fees and Services: |                |   |
| Audit      fees                              |                | $      | 15,263 |   |   | $ | 18,029 |   |
| Audit      related fees                      |                |   | 2,662  |   |   |   | 2,504 |   |
| Tax      fees                                |                |   | 2,270  |   |   |   | 2,376 |   |
| All      other fees                          |                |   | 42     |   |   |   | 257 |   |
| Total                                        |                | $      | 20,237 |   |   | $ | 23,166 |   |

----

| (A)   | The      following documents are filed as part of this  report: |
|-----------------|-----------------------------------------------------------------|

| 1.   | Financial      Statements |
|----------------|---------------------------|

| 2.   | Consolidated      Financial Statement Schedules |
|----------------|-------------------------------------------------|

| 3.   | Exhibits |
|----------------|----------|

----

| Date: | March      10, 2010 |   | AXA      EQUITABLE LIFE INSURANCE COMPANY  |
|-------|---------------------|--------|-------------------------------------------------|

|   |   |   | By:    | /s/      Christopher M. Condron                                                |
|--------|--------|--------|--------|--------------------------------------------------------------------------------|
|   |   |   | Name:  | Christopher      M. Condron                                                    |
|   |   |   |   | Chairman      of the Board, President and Chief Executive Officer,    Director |

|                            |   |                                            |   |                |
|---------------------------------|--------|-------------------------------------------------|--------|---------------------|
| /s/      Christopher M. Condron |   | Chairman      of the Board, President and Chief |   | March      10, 2010 |
| Christopher      M. Condron     |   | Executive      Officer, Director                |   |                |
|                            |   |                                            |   |                |
| /s/      Richard S. Dziadzio    |   | Senior      Executive Vice President and        |   | March      10, 2010 |
| Richard      S. Dziadzio        |   | Chief      Financial Officer                    |   |                |
|                            |   |                                            |   |                |
| /s/      Alvin H. Fenichel      |   | Senior      Vice President and Chief            |   | March      10, 2010 |
| Alvin      H. Fenichel          |   | Accounting      Officer                         |   |                |
|                            |   |                                            |   |                |
| /s/      Henri de Castries      |   | Director                                        |   | March      10, 2010 |
| Henri      de Castries          |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Denis Duverne          |   | Director                                        |   | March      10, 2010 |
| Denis      Duverne              |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Charlynn Goins         |   | Director                                        |   | March      10, 2010 |
| Charlynn      Goins             |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Anthony J. Hamilton    |   | Director                                        |   | March      10, 2010 |
| Anthony      J. Hamilton        |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Mary R. Henderson      |   | Director                                        |   | March      10, 2010 |
| Mary      R. Henderson          |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      James F. Higgins       |   | Director                                        |   | March      10, 2010 |
| James      F. Higgins           |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Peter S. Kraus         |   | Director                                        |   | March      10, 2010 |
| Peter      S. Kraus             |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Scott D. Miller        |   | Director                                        |   | March      10, 2010 |
| Scott      D. Miller            |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Joseph H. Moglia       |   | Director                                        |   | March      10, 2010 |
| Joseph      H. Moglia           |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Lorie A. Slutsky       |   | Director                                        |   | March      10, 2010 |
| Lorie      A. Slutsky           |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Ezra Suleiman          |   | Director                                        |   | March      10, 2010 |
| Ezra      Suleiman              |   |                                            |   |                |
|                            |   |                                            |   |                |
| /s/      Peter J. Tobin         |   | Director                                        |   | March      10, 2010 |
| Peter      J. Tobin             |   |                                            |   |                |

----

|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   | Tag    |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
| Number |   | Description                                                                                                                                                              |   | Method      of Filing                                                                                                                                                  |   | Value  |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 2.1    |   | Stock      Purchase Agreement dated as of August 30, 2000 among CSG, AXA, Equitable      Life, AXA Participations Belgium and AXA Financial                              |   | Filed      as Exhibit 2.1 to AXA Financial’s Current Report on Form 8-K dated      November 14, 2000 and incorporated herein by reference                        |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 2.2    |   | Letter      Agreement dated as of October 6, 2000 to the Stock Purchase Agreement      among CSG, AXA, Equitable Life, AXA Participations Belgium and AXA      Financial |   | Filed      as Exhibit 2.2 to AXA Financial’s Current Report on Form 8-K dated      November 14, 2000 and incorporated herein by reference                        |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 3.1    |   | Restated      Charter of Equitable Life, as amended January 1, 1997                                                                                                      |   | Filed      as Exhibit 3.1(a) to registrant’s Annual Report on Form 10-K for the year      ended December 31, 1996 and incorporated herein by    reference        |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 3.2    |   | Restated      Charter of AXA Equitable, as amended December 6, 2004                                                                                                 |   | Filed      as Exhibit 3.2 to registrant’s Annual Report on Form 10-K for the year      ended December 31, 3004 and incorporated herein by    reference           |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 3.3    |   | Restated      By-laws of Equitable Life, as amended November 21, 1996                                                                                                    |   | Filed      as Exhibit 3.2(a) to registrant’s Annual Report on Form 10-K for the year      ended December 31, 1996 and incorporated herein by    reference        |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 10.1   |   | Cooperation      Agreement, dated as of July 18, 1991, as amended among Equitable Life, AXA      Financial and AXA                                                       |   | Filed      as Exhibit 10(d) to AXA Financial’s Form S-1 Registration Statement (No.      33-48115), dated May 26, 1992 and incorporated herein by      reference |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 10.2   |   | Letter      Agreement, dated May 12, 1992, among AXA Financial, Equitable Life and      AXA                                                                              |   | Filed      as Exhibit 10(e) to AXA Financial’s Form S-1 Registration Statement (No.      33-48115), dated May 26, 1992 and incorporated herein by      reference |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 10.3   |   | Amended      and Restated Reinsurance Agreement, dated as of March 29, 1990, between      Equitable Life and First Equicor Life Insurance Company                        |   | Filed      as Exhibit 10(o) to AXA Financial’s Form S-1 Registration Statement (No.      33-48115), dated May 26, 1992 and incorporated herein by      reference |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |
| 10.4   |   | Fiscal      Agency Agreement between Equitable Life and The Chase Manhattan Bank,      N.A.                                                                              |   | Filed      as Exhibit 10.5 to registrant’s Annual Report on Form 10-K for the year      ended December 31, 1995 and incorporated herein by    reference          |   |   |
|   |   |                                                                                                                                                                     |   |                                                                                                                                                                   |   |   |

----

|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   | Tag     |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|
| Number |   | Description                                                                                                                                                     |   | Method      of Filing                                                                                                                                                |   | Value   |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 10.5   |   | Distribution      and Servicing Agreement between AXA Advisors (as successor to Equico      Securities, Inc.) and Equitable Life dated as of May 1,    1994     |   | Filed      as Exhibit 10.7 to the registrant’s Annual Report on Form 10-K for the      year ended December 31, 1999 and incorporated herein by      reference  |   |    |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 10.6   |   | Agreement      for Cooperative and Joint Use of Personnel, Property and Services between      Equitable Life and AXA Advisors dated as of September 21,    1999 |   | Filed      as Exhibit 10.8 to the registrant’s Annual Report on Form 10-K for the      year ended December 31, 1999 and incorporated herein by      reference  |   |    |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 10.7   |   | General      Agent Sales Agreement between Equitable Life and AXA Network dated as of      January 1, 2000                                                      |   | Filed      as Exhibit 10.9 to the registrant’s Annual Report on Form 10-K for the      year ended December 31, 1999 and incorporated herein by      reference  |   |    |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 10.8   |   | Agreement      for Services by Equitable Life to AXA Network dated as of January 1,      2000                                                                   |   | Filed      as Exhibit 10.10 to the registrant’s Annual Report on Form 10-K for the      year ended December 31, 1999 and incorporated herein by      reference |   |    |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 13.1   |   | AllianceBernstein      Risk Factors                                                                                                                             |   | Filed      herewith                                                                                                                                                  |   | EX-13.1 |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 21     |   | Subsidiaries      of the registrant                                                                                                                             |   | Omitted      pursuant to General Instruction I of Form 10-K                                                                                                          |   |    |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 31.1   |   | Section      302 Certification made by the registrant’s Chief Executive      Officer                                                                      |   | Filed      herewith                                                                                                                                                  |   | EX-31.1 |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 31.2   |   | Section      302 Certification made by the registrant’s Chief Financial      Officer                                                                      |   | Filed      herewith                                                                                                                                                  |   | EX-31.2 |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 32.1   |   | Section      906 Certification made by the registrant’s Chief Executive      Officer                                                                      |   | Filed      herewith                                                                                                                                                  |   | EX-32.1 |
|   |   |                                                                                                                                                            |   |                                                                                                                                                                 |   |    |
| 32.2   |   | Section      906 Certification made by the registrant’s Chief Financial      Officer                                                                      |   | Filed      herewith                                                                                                                                                  |   | EX-32.2 |