AXA Advisors Chooses Morningstar ProWeb as its Premier Financial Advisory Software.

Business Editors

CHICAGO--(BUSINESS WIRE)--Aug. 9, 2000

Morningstar's newest research tool for professional investors, ProWeb, will soon provide 7,400 financial professionals at AXA Advisors with NASD-compliant financial information and tools via the Internet.

"We look forward to providing AXA Advisors with Morningstar's industry-leading data, flexible screening, and hypothetical illustrations to support the outstanding service they provide to their clients," said Paul Fox, vice president of advisor tools. "ProWeb has the flexibility to supply AXA Advisors with customized investment information directly to their desktops, giving them quick access to the information they need to add value to their clients."

Craig Junkins, senior vice president in charge of the financial-planning initiative for AXA Advisors, commented, "The ProWeb application is a unique opportunity for us to provide and illustrate our proprietary research combined with Morningstar research all within the same Web-based tool. The user will be able to research mutual funds and subaccounts based on either Morningstar data, our research, or a combination of the two. The tool will enable the user to tie any mutual fund or subaccount in the Morningstar database to our asset-allocation platform through a proprietary mapping process, while providing specific research on a mutual fund's style consistency against its asset-class assignment."

ProWeb consists of two parts: a database module and an optional hypothetical module. The database module includes the ability to:

-- Screen and rank the customized universe of mutual funds,

variable insurance products, and stocks using an extensive

list of search criteria

-- Quickly look up a single investment product by name or ticker

-- Create and save lists of investment options

-- View and print NASD-compliant Investment Detail pages on each

of the investments in the database

The optional hypothetical module includes the ability to:

-- Generate, view, and print NASD-compliant hypothetical

illustrations on individual investments or combinations of

multiple investments

-- Customize the date range and investment schedule for each

illustration

-- Include tables and graphs for each illustration

About Morningstar

Chicago-based Morningstar, Inc. is an independent provider of the most reliable, unbiased investment information and analytic tools available. The company's extensive line of Internet, software, and print services offers news, data, and analysis on stocks, mutual funds, closed-end funds and variable annuities. The firm supplies a variety of products and services to professionals, including MorningstarAdvisor.com, Principia(TM) Pro software, Morningstar StockInvestor, Morningstar FundInvestor, Morningstar(R) Mutual Funds, the annual Morningstar Investment Conference, and the Morningstar Professional Education Series. Morningstar does not own, operate, or hold any interest in investment products. Recent news releases and more information are available on the Morningstar home page at http://www.morningstar.com.

About AXA Advisors

AXA Advisors, LLC, is a leading provider of financial services for consumers and businesses, working with clients to help them define their financial goals. AXA Advisors, LLC, is an indirect subsidiary of AXA Financial, Inc. (NYSE:AXF) whose affiliates and subsidiaries include The Equitable Life Assurance Society of the U.S.; Donaldson, Lufkin & Jenerette (DLJ); and Alliance Capital Management. AXA Financial is a member of the global AXA Group, which has $788 billion in assets under management and operations in approximately 60 countries as of December, 31, 1999.