AMENDMENT NO. 1 TO THE INVESTMENT ADVISORY AGREEMENT

Exhibit (d)(28)(i)

AMENDMENT NO. 1

TO THE

INVESTMENT ADVISORY AGREEMENT

AMENDMENT NO. 1 to the Investment Advisory Agreement (“Amendment No. 1”), dated as of December 1, 2005, between AXA Equitable Life Insurance Company, a New York corporation (“AXA Equitable” or the “Manager”) and Xxxxxxx-Xxxxxx Capital Management, a Delaware limited liability company (the “Adviser”).

AXA Equitable and the Adviser agree to modify the Investment Advisory Agreement, dated as of July 9, 2004 as follows:

1. Existing Portfolio. AXA Equitable hereby reaffirms its appointment of the Adviser as the investment adviser for the EQ/Xxxxxxx-Xxxxxx High Yield Bond Portfolio (formerly, EQ/Enterprise High-Yield Bond Portfolio) on the terms and conditions set forth in the Agreement.

2. Appendix A. Appendix A to the Agreement, setting forth the Portfolio(s) of the Trust for which the Adviser is appointed as the investment adviser and the fees payable to the Adviser with respect to the Portfolio is hereby replaced in its entirety by Appendix A attached hereto.

3. Ratification. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 1 as of the date first above set forth.

AXA EQUITABLE LIFE INSURANCE COMPANY				XXXXXXX-XXXXXX CAPITAL MANAGEMENT
By:		/s/ Xxxxxx X. Xxxxx		By:		/s/ Xxxxxx X. Xxxxx
		Xxxxxx X. Xxxxx		Name:		Xxxxxx X. Xxxxx
		Senior Vice President		Title:		Managing Director

APPENDIX A

AMENDMENT NO. 1 TO THE

INVESTMENT ADVISORY AGREEMENT

Portfolios		Advisory Fee
EQ/Xxxxxxx-High Yield Bond Portfolio		0.30% of the Portfolio’s average daily net assets up to an including $100 million; 0.25% of the Portfolio’s average daily net assets over $100 million and up to and including $200 million; and 0.20% of the Portfolio’s average daily net assets in excess of $200 million.

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