AMP LIMITED — Capital/Financing Update 2009

Apr 7, 2009

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ASX Announcement
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8 April 2009

Manager Company Announcements Office Australian Stock Exchange Level 4, 20 Bridge Street Sydney NSW 2000

Manager Market Information Services Section New Zealand Stock Exchange Level 2, NZX Centre, 11 Cable Street Wellington New Zealand

Announcement No: 18/09

AMP Notes offer successfully raises $296 million

AMP Group Finance Services Limited today announced the offer of AMP Notes had closed.

The Group successfully raised A$296 million from the issue of new securities called AMP Notes.

AMP will tomorrow issue A$202.7 million worth of A$ AMP Notes and NZ$115.5 million worth of NZ$ AMP Notes, at an issue price of A$100.00 and NZ$1.00 each respectively. AMP Notes are unsecured subordinated debt obligations of the Issuer. That means that, in the event of a winding up of the Issuer, holders' claims for payment on AMP Notes will rank behind the claims of all other creditors of the Issuer that are not subordinated to, or ranking equally with, AMP Notes.

A$ AMP Notes are expected to commence trading on a deferred settlement basis on ASX at 12.00pm (Sydney time) tomorrow under the code “AQNHA”. It is expected that trading on ASX will commence on a normal settlement basis on 17 April 2009.

NZ$ AMP Notes are expected to commence trading on a normal settlement basis on NZDX at 1pm (New Zealand time) tomorrow under the code “AQN010”.

The information below is for the benefit of AMP Notes Applicants.

Allocation Policy

Shareholder Offer and General Offer - All valid Applications received from Shareholder Applicants and General Applicants have been accepted in full.

Broker Firm Offer - Allocations to Syndicate Brokers were determined pursuant to the Bookbuilds conducted on 10 March 2009. Applicants under the Broker Firm Offer should consult with their Syndicate Broker to confirm their Allocation.

Institutional Offer - Allocations to Institutional Investors were determined pursuant to the Bookbuilds conducted on 10 March 2009. Successful Applicants under the Institutional Offer have been advised of their Allocations.

ABN 49 079 354 519

AMP Limited (AMP) ASX Announcement AMP Limited Level 24, 33 Alfred Street Sydney NSW 2000 Australia

AMP Notes offer successfully raises $296 million …/2

CHESS allotment advices and issuer sponsored holding statements (Holding Statements), which contain the number of A$ AMP Notes and NZ$ AMP Notes issued to each successful Applicant, will be mailed by 16 April 2009. Any refund cheques will also be mailed by this date.

Any holder wishing to trade A$ AMP Notes prior to receiving their Holding Statement is responsible for confirming their holding prior to trading to avoid the risk of selling A$ AMP Notes they do not own.

Please contact your Syndicate Broker if you have received an Allocation through the Broker Firm Offer or, if you have applied through the Shareholder Offer or General Offer, you can call the AMP Notes Information Line on 1300 750 485 (within Australia), 0800 444 229 (within New Zealand) or +61 3 9415 4332 (international), Monday to Friday, 8.30am to 5.00pm (Sydney time). Investors who sell their A$ AMP Notes before receiving their Holding Statement do so at their own risk.

The offer of AMP Notes was made under a replacement prospectus dated 11 March 2009 (AMP Notes Prospectus). Unless otherwise noted, capitalised terms used in this notice have the meanings given to them in the AMP Notes Prospectus.

Media enquiries Jane Anderson AMP Public Affairs Ph: +61 2 9257 9870 Mob: +61 402 967 791

Analyst enquiries Howard Marks AMP Investor Relations Ph: +61 2 9257 7109 Mob: +61 402 438 019