AMP LIMITED — Major Shareholding Notification 2007

Nov 28, 2007

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Date: 29-Nov-07

The Manager Listings Department Australian Stock Exchange Limited

No. of Pages (incl.): 4

NOTICE OF INITIAL SUBSTANTIAL HOLDER

Dear Sir/Madam,

Pursuant to Section 671B of the Corporations Law, AMP Limited discloses a substantial holding in Oil Search Limited.

The enclosed ASIC Form 603 discloses all required details.

Yours faithfully,

Justin Christopher Head of Custody BNP Paribas Securities Services Phone: 02 9222 0029

BNP PARIBAS FUND SERVICES AUSTRALASIA PTY LTD Level 6 60 Castlereagh Street Sydney NSW 2000 Australia PO BOX R209 Royal Exchange NSW 1225 Australia Tel: +61 2 9222 0000 - Fax: +61 2 9222 0255

ABN 71 002 655 674

Form 603

Corporations Law Section 671B Notice of Initial Substantial Holder

To: Oil Search Limited ACN/ARSN: 055 079 868

1. Details of substantial holder

Name: AMP Limited (ACN 079 354 519) and its related bodies corporate. The holder became a substantial holder on 27-Nov-2007

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate had a relevant interest on the date the substantial holder became a substantial holder are as follows:

Class of securities Number of Securities Persons’ votes Voting power 10 Toea Fully Paid Ordinary 56,511,704 56,511,704 5.05%

3. Details of relevant interests

The nature of relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interests	Class and number of securities	Person's votes affected
AMP Life Limited ("AMP Life")	AMP Life is entitled to be the registered holder of the class and number of securities listed beside its name. AMP Life is a controlled body corporate of AMP Limited within the meaning of Section 608(3) of the Corporations Law	10 Toea Fully Paid Ordinary: 24,042,813	24,042,813
AMP Capital Investors Limited ('AMP Capital')	AMP Capital, in its capacity as the investment manager for the persons or trusts listed besides its name in Paragraph 4, has the power to control voting and/or the disposal of securities. AMP Capital is a controlled body corporate of AMP Limited within the meaning of Section 608(3) of the Corporations Law	10 Toea Fully Paid Ordinary: 19,090,557	19,090,557
AMP Capital Investors Limited as Responsible Entity of the Future Directions Australian Small Companies Fund	AMP Capital Investors Limited is a controlled body corporate of AMP Limited within the meaning of Section 608(3) of the Corporations Law	10 Toea Fully Paid Ordinary: 2,493,071	2,493,071
AMP Capital Investors Limited as Future Directions Australian Share Fund	AMP Capital Investors Limited is a controlled body corporate of AMP Limited within the meaning of Section 608(3) of the Corporations Law	10 Toea Fully Paid Ordinary: 3,778,855	3,778,855
AMP Capital Investors Limited as Future Directions Australian Share Fund	AMP Capital Investors Limited is a controlled body corporate of AMP Limited within the meaning of Section 608(3) of the Corporations Law	10 Toea Fully Paid Ordinary: 2,985,013	2,985,013
AMP Capital Investors Limited as Future Directions Australian Share Fund	AMP Capital Investors Limited is a controlled body corporate of AMP Limited within the meaning of Section 608(3) of the Corporations Law	10 Toea Fully Paid Ordinary: 3,806,450	3,806,450
AMP Capital Investors Limited as Responsible Investment Leader Australian Share Fund	AMP Capital Investors Limited is a controlled body corporate of AMP Limited within the meaning of Section 608(3) of the Corporations Law	10 Toea Fully Paid Ordinary: 314,945	314,945
Total: 56,511,704

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Class and number of securities	Person’s votes affected
AMP Life Limited	AMP Life Limited	AMP Life Limited	10 Toea Fully Paid Ordinary: 24,042,813	24,042,813
AMP Capital Investors Limited	Cogent Nominees Pty Limited	Cogent Nominees Pty Limited	10 Toea Fully Paid Ordinary: 6,905,606	6,905,606
	Cogent Nominees Pty Limited	Cogent Nominees Pty Limited	10 Toea Fully Paid Ordinary: 4,056,250	4,056,250
	Citicorp Nominees Pty Limited	Stichting Pensionfonds Hoogovens	10 Toea Fully Paid Ordinary:39,163	39,163

	Goldman Sachs	AMP Capital Investors Australian Equity Long ShortFund	10 Toea Fully Paid Ordinary: 124,109	124,109
	JP Morgan Nominees AustraliaLimited	Stichting Pensionfonds ABP	10 Toea Fully Paid Ordinary:322,735	322,735
	JP Morgan Nominees AustraliaLimited	QLD Local Government Superannuation Board	10 Toea Fully Paid Ordinary:89,757	89,757
	JP Morgan Nominees AustraliaLimited	State Authority SuperannuationScheme	10 Toea Fully Paid Ordinary:3,963,404	3,963,404
	JP Morgan Nominees Australia Limited	State Authority Superannuation Enhanced Index Share Fund	10 Toea Fully Paid Ordinary: 471,318	471,318
	National Nominees Pty Limited	Government Employees Superannuation Board	10 Toea Fully Paid Ordinary:633,412	633,412
	National Nominees Pty Limited	Equipsuper	10 Toea Fully Paid Ordinary: 450,251	450,251
	National Nominees Pty Limited	Unisuper	10 Toea Fully Paid Ordinary: 2,034,552	2,034,552
AMP Capital Investors Limited as Responsible Entity of the Future Directions Australian Small Companies Fund	Cogent Nominees Pty Limited	AMP Capital Investors Limited	10 Toea Fully Paid Ordinary: 2,493,071	2,493,071
AMP Capital Investors Limited as Future Directions AustralianShareFund	Cogent Nominees Pty Limited	AMP Capital Investors Limited	10 Toea Fully Paid Ordinary: 3,778,855	3,778,855
AMP Capital Investors Limited as Future Directions AustralianShareFund	Cogent Nominees Pty Limited	AMP Capital Investors Limited	10 Toea Fully Paid Ordinary: 2,985,013	2,985,013
AMP Capital Investors Limited as Future Directions AustralianShareFund	Cogent Nominees Pty Limited	AMP Capital Investors Limited	10 Toea Fully Paid Ordinary: 3,806,450	3,806,450
AMP Capital Investors Limited as Responsible Investment Leader Australian Share Fund	Cogent Nominees Pty Limited	AMP Capital Investors Limited	10 Toea Fully Paid Ordinary: 314,945	314,945
	Total: 56,511,704

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration	Class and number of securities
AMP Capitial Investors Limited	30-Jul-2007 to 27-Nov- 2007	$12,202,938.54	10 Toea Fully Paid Ordinary 2,888,658
AMP Life Limited	1-Aug-2007 to 27-Nov- 2007	$24,442,111.72	10 Toea Fully Paid Ordinary 6,231,776
Cogent Nominees PtyLimited	1-Aug-2007 to 27-Nov- 2007	$16,418,381.03	10 Toea Fully Paid Ordinary 3,951,247
Cogent Nominees Pty Limited	1-Aug-2007 to 27-Nov- 2007	$12,550,044.85	10 Toea Fully Paid Ordinary 3,169,284
Equipsuper	4-Sep-07	$943,806.13	10 Toea Fully Paid Ordinary 259,716
Government Employees Superannuation Board	22-Aug-2007 to 22-Oct- 2007	$1,904,317.75	10 Toea Fully Paid Ordinary 508,412
Queensland Local Government Superannuation Board	22-Aug-2007 to 22-Oct- 2007	$176,328.37	10 Toea Fully Paid Ordinary 45,307
State Authority Superannuation Scheme	1-Aug-2007 to 27-Nov- 2007	$8,879,646.47	10 Toea Fully Paid Ordinary 2,258,706
StichtingPensioenfolds - ABP	12-Sep-2007 to 22-Oct- 2007	$1,302,001.19	10 Toea Fully Paid Ordinary 322,735
Stichting Pensioenfolds Hoogovens	12-Sep-2007 to 22-Oct- 2007	$158,375.51	10 Toea Fully Paid Ordinary 39,163
UniSuper Limited	1-Aug-2007 to 27-Nov- 2007	$5,111,587.36	10 Toea Fully Paid Ordinary 1,309,735

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN (if applicable) Nature of association

AMP Life Limited (ACN 079 Related bodies corporate of AMP Limited under Part 1.2 of the Corporations Law. 300 379) AMP Capital Investors Limited Related bodies corporate of AMP Limited under Part 1.2 of the Corporations Law. (ACN 001 777 591)

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
AMP Life Limited	Level 24, 33 Alfred Street, Sydney NSW 2000
AMP Capital Investors Limited	Level 22, 33 Alfred Street, Sydney NSW 2000
Citicorp Nominees Pty Limited	101 Collins Street, Melbourne VIC 3000
Cogent Nominees Pty Limited	Level 6, 60 Castlereagh Street, Sydney NSW 2000
Equipsuper	171 Flinders Street, Melbourne VIC 3000
Goldman Sachs Asia LLC	68th Floor, 2 Queens Road, Central Hong Kong
Government Employee Superannuation Board	PO Box J755, Perth WA 6842
JP Morgan Nominees Australia Limited	259 George Street, Sydney NSW 2000
National Nominees Pty Limited	271 Collins Street, Melbourne VIC 3000
QLD Local Government Superannuation Board	Of GPO Box 264, Brisbane QLD 4001
State Authority Superannuation Scheme	Level 14, 83 Clarence Street, Sydney NSW 2000
State Authority Superannuation Enhanced Index Share	Level 14, 83 Clarence Street, Sydney NSW 2000
Stichting Pensioenfonds Hoogovens	PO Box 10,000, 1970 CA IJmuiden, The Netherlands
Stichting Pensioenfonds ABP	PO Box 10,000, 1970 CA IJmuiden, The Netherlands
Unisuper Limited	Level 28, 367 Collins Street, Melbourne 3000

This Initial Substantial Holder Notice (ASIC Form 603) comprises 3 page/s in total.