AXA Private Equity takes over management of the European Venture portfolio of the Caisse de Dépôt et Placement du Québec Paris, Thursday October 28, 2004

AXA Private Equity announces the conclusion of a partnership agreement with the Caisse de dépôt et placement du Quebec (the "Caisse")  to manage its direct investments in European companies active in the industrial technology, IT and biotechnology sectors.                                     

As of 27 October, AXA Private will manage the Caisse's European venture portfolio. The Caisse is the leading institutional fund manager in Canada.

This portfolio includes five investments in the IT and Life Sciences sectors:

• Cartesis, a provider of integrated business performance management solutions,
• Cytheris, a biopharmaceutical company developing cancer immunotherapy products,
• Keopsys, a company specialised in developing, manufacturing and marketing fibre optical amplifiers,
• Risc Technology, a European security specialist,
• Symetrx, a software publisher specialised in the management of electronic catalogues.

AXA Private Equity has been developing its Venture Capital business since 1998, with the backing of its offices in Paris, Frankfurt, London and New York. It accompanies businesses through every stage of their development within an active partnership that accelerates growth and enhances profits. Over 40 companies with state-of-the-art technological expertise in the IT and Life Sciences sectors have invested their trust in AXA Private Equity’s Venture Capital team.

About Caisse de dépôt et placement du Québec:

The Caisse de dépôt et placement du Québec is a financial institution that manages funds, primarily for public and private pension and insurance plans. As at 31 December 2004, its net assets amounted to CAD 89.4 billion. The Caisse is the leading institutional fund manager in Canada and invests in the main financial markets, private equity and property.

For further information, please visit: www.lacaisse.com