AMP LIMITED — Capital/Financing Update 2009

Mar 19, 2009

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ASX Announcement
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20 March 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: 14/09

Please find attached a letter to AMP shareholders outlining AMP Notes. This document will be sent to selected shareholders in the next week.

Part One: Letter to selected Australian Shareholders Part Two: Letter to selected New Zealand Shareholders

ABN 49 079 354 519

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

If undeliverable please return to: PO Box 3085 Kingsgrove NSW 2208

Introducing AMP Notes A long-term fl oating rate investment initially paying around 7[.] 88[%] p.a.*

Australian dollar AMP Notes are new listed debt securities available to Australian investors, designed to provide a regular income stream.

*This rate is indicative only and the actual interest rate may be higher or lower than this rate. Australian dollar AMP Notes are designed to pay cumulative, quarterly, fl oating rate interest. The interest rate for A$ AMP Notes varies from interest period to interest period, and will be the sum of 4.75% and BBSW, as determined on the fi rst day of the relevant interest period. BBSW for the fi rst interest period will be set on the Issue Date, which is expected to be 9 April 2009. Based on BBSW at 10 March 2009 of 3.13%, Australian dollar AMP Notes are expected to pay interest at a rate of around 7.88%p.a. See the Prospectus for details.

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POSTAGE
PAID
AUSTRALIA
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MR JOHN SMITH 123 JOHNS ROAD SMITHVILLE NSW 2000

Do you:

have A$5,000 or more to invest?

want an investment that pays quarterly interest* above a market rate? > want to invest in the AMP group? Australian dollar AMP Notes are new subordinated, unsecured debt securities to be traded on the Australian Securities Exchange. They have been provisionally rated A- by Standard & Poor’s and A3 by Moody’s[1] .

For more information and a prospectus

> go to www.ampnotesoffer.com.au

OR

> contact the AMP Notes Information Line Monday to Friday between 8.30am and 5.00pm (Sydney time) on 1300 750 485

We’ll need to receive your completed application form, which you’ll fi nd in the prospectus, by 2 April 2009. (Check the website for possible changes to this date)

AMP Notes will be issued by AMP Group Finance Services Limited

Important notices: AMP Grou p Finance Services Limited (ABN 95 084 247 914) lod g ed a Re p lacement Pros p ectus (Pros p ectus) in relation to the offer of AMP Notes with the Australian Securities and Investments Commission ( ASIC ) on 11 March 2009. This postcard is not an offer of, or invitation to apply for, AMP Notes. The offer of AMP Notes will be made in, or accompanied by, the Prospectus. Anyone wishing to acquire AMP Notes will need to complete the application form in or accompanying the Prospectus. The information in this postcard does not take into account your investment objectives, fi nancial situation or particular needs. You should consider whether investing in AMP Notes is appropriate for you in light of your investment objectives and fi nancial circumstances. In deciding whether to subscribe for AMP Notes you should read and consider the Prospectus and seek advice from your fi nancial adviser. An investment in AMP Notes is subject to risks which are disclosed in the Prospectus. AMP Notes are not bank 1 An explanation of the meaning of these ratings can be found at section 3.5 of the Prospectus.deposits and there is a risk that investors may lose some or all of their principal investment.

If undeliverable please return to: PO Box 91037 Victoria Street West Auckland 1142

A long-term investment paying at least

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% * 8[.] 83[p.a.]

Your chance to buy NZ dollar AMP Notes, new listed debt securities available to New Zealand investors, designed to provide a regular income stream.

MR JOHN KIWI 123 JOHNS ROAD KIWIVILLE AUCKLAND 1000

• For further information on the interest rate, see over.

Do you:

• have NZ$5,000 or more to invest?

want an investment that pays

8.83%pa* quarterly?

want to invest in the AMP group?

For more information and a prospectus

> go to www.ampnotesoffer.com.au

OR

> contact the AMP Notes Information Line Monday to Friday between 10.30am and 7.00pm (Auckland time) on 0800 444 229

OR contact

NZ dollar AMP Notes are new subordinated unsecured debt securities to be traded on the New Zealand Debt Exchange. They have been provisionally rated A- by Standard & Poor’s and A3 by Moody’s[1] .

> • ABN AMRO Craigs on 0508 226 226

• ANZ, part of ANZ National Bank Limited, on 0800 269 476

• Forsyth Barr on 0800 367 227

We’ll need to receive your completed application form, which you’ll fi nd in the prospectus, by 2 April 2009. (Check the website for possible changes to this date)

Important notices: AMP Grou p Finance Services Limited (ABN 95 084 247 914) lod g ed a Re p lacement Pros p ectus (Pros p ectus) in relation to the offer of AMP Notes with the Australian Securities and Investments Commission ( ASIC ) on 11 March 2009 and with the New Zealand Companies Offi ce ( NZCO ) on or about that date. This postcard is not an offer of, or invitation to apply for, AMP Notes. The offer of AMP Notes will be made in, or accompanied by, the Prospectus. Anyone wishing to acquire AMP Notes will need to complete the application form in or accompanying the Prospectus.

AMP Notes will be issued by AMP Group Finance Services Limited

The information in this postcard does not take into account your investment objectives, fi nancial situation or particular needs. You should consider whether investing in AMP Notes is appropriate for you in light of your investment objectives and fi nancial circumstances. In deciding whether to subscribe for AMP Notes you should read and consider the Prospectus and seek advice from your fi nancial adviser. An investment in AMP Notes is subject to risks which are 1 NZ dollar AMP Notes are desidisclosed in the Prospectus. AMP Notes are not bank deposits and there is a risk that investors may lose some or all of their principal investment.An explanation of the meaning of these ratings can be found at section 3.5 of the Prospectus. g ned to p a y cumulative, q uarterl y interest at a rate f xed until 14 Ma y 2014. Prior to this date, the interest rate for each interest period will be fi xed as the sum of the greater of 4.085% and the fi ve-year swap rate applying on the issue date ( around 9 April )* , and the initial margin of 4.75%. See Prospectus for details.