distribution management the axa way a balanced approach stan tulin financial vice chairman and cfo member of executive committee january 26 2005 2 disclaimer cautionary statements concerning forward looking certain contained herein are including but not limited to that predications or indicate future events trends plans objectives undue reliance should be placed on such because by their nature they subject known unknown risks uncertainties can affected other factors could cause actual results s differ materially from those expressed implied in past these include without limitation risk catastrophic possible terrorist related incidents please refer annual report form 20 f document de référence for year ended december 31 2003 description important may affect business undertakes no obligation publicly update revise any whether reflect new information
