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The principal subsidiary of Protective Life CorporationProtective Life Insurance Company, has signed an agreement with certain subsidiaries of AXA SA to acquire MONY Life Insurance Company and to reinsure certain policies of MONY Life Insurance Company of America.

Assuming a closing date of October 1, 2013, the purchase price to be paid to AXA is estimated to be approximately $1.06 billion, including statutory capital and surplus of approximately $303 million. The total capital investment by Protective is estimated to be approximately $1.09 billion. The transaction will be subject to customary post-closing adjustments. Assuming an October 1, 2013 close, the transaction is expected to contribute $0.10 to $0.15 to Protective’s fully diluted earnings per share in 2013, $0.55 to $0.65 per fully diluted share in 2014, and $0.65 to $0.75 per fully diluted share in 2015, net of integration and transition costs.

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