AMP LIMITED — Major Shareholding Notification 2007

Oct 31, 2007

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Date: 1st November 2007

The Manager Listings Department Australian Stock Exchange Limited

No. of Pages (incl.): 3

NOTICE OF INITIAL SUBSTANTIAL HOLDER

Dear Sir/Madam,

Pursuant to Section 671B of the Corporations Law, AMP Limited discloses a substantial holding in Perilya 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: Perilya Limited ACN/ARSN: 009 193 695 1. Details of substantial holder Name: AMP Limited (ACN 079 354 519) and its related bodies corporate. The holder became a substantial holder on 30th October 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
Fully Paid Ordinary	9,847,635		9,847,635		5.01%

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	Fully Paid Ordinary: 3,962,268	3,962,268
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	Fully Paid Ordinary: 5,864,567	5,864,567
AMP Capital Investors Limited in it's capacity as Responsible Entity of the the Future Directions Extended Markets International 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	Fully Paid Ordinary: 20,800	20,800
Total: 9,847,635

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	Fully Paid Ordinary: 3,962,268	3,962,268
AMP Capital Investors Limited	Cogent Nominees Pty Limited	Cogent Nominees Pty Limited	Fully Paid Ordinary: 1,441,254	1,441,254
	Cogent Nominees Pty Limited	Cogent Nominees Pty Limited	Fully Paid Ordinary: 673,653	673,653
	Citicorp Nominees Pty Limited	Stichting Pensionfonds Hoogovens	Fully Paid Ordinary: 108,553	108,553
	Goldman Sachs	AMP Capital Investors Australian Equity Long ShortFund	Fully Paid Ordinary: 422,127	422,127
	JP Morgan Nominees AustraliaLimited	Stichting Pensionfonds ABP	Fully Paid Ordinary: 847,229	847,229
	JP Morgan Nominees AustraliaLimited	LAMP	Fully Paid Ordinary: 1,154,270	1,154,270
	JP Morgan Nominees AustraliaLimited	QLD Local Government Superannuation Board	Fully Paid Ordinary: 115,816	115,816
	JP Morgan Nominees Australia Limited	State Authority Superannuation Enhanced Index Share Fund	Fully Paid Ordinary: 88,583	88,583
	National Nominees Pty Limited	Government Employees Superannuation Board	Fully Paid Ordinary: 476,796	476,796
	National Nominees Pty Limited	Commonwealth Bank Officers Superannunation Corporation Pty Ltd as trustee for the Officers' Superannuation Fund	Fully Paid Ordinary: 324,192	324,192
	National Nominees Pty Limited	Equipsuper	Fully Paid Ordinary: 212,094	212,094
AMP Capital Investors Limited as Responsible Entity of the Future Directions Extended Markets International Share Fund	Citibank N.A. Hong Kong	AMP Capital Investors Limited	Fully Paid Ordinary: 20,800	20,800

Total: 9,847,635

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 Life Limited	4-Jul-2007 to 30-Oct-2007	$12,149,093.79	Fully Paid Ordinary 3,072,228
Cogent Nominees PtyLimited	4-Sep-2007 to 30-Oct-2007	$1,035,380.53	Fully Paid Ordinary 238,468
Cogent Nominees Pty Limited	20-Jul-2007 to 11-Oct-2007	$11,187,301.24	Fully Paid Ordinary 2,586,574
Commonwealth Bank Officers Superannunation Corporation Pty Ltd A/T for the Officers' Superannuation Fund.	1-Aug-2007 to 4-Oct-2007	$232,793.58	Fully Paid Ordinary 56,329
Equipsuper	1-Aug-2007 to 4-Sep-2007	$2,217,576.62	Fully Paid Ordinary 514,128
Government Employees Superannuation Board	1-Aug-2007 to 4-Oct-2007	$1,914,124.59	Fully Paid Ordinary 476,796
LAMP	1-Aug-2007 to 18-Oct-2007	$4,920,995.17	Fully Paid Ordinary 1,154,270
Queensland Local Government Superannuation Board	1-Aug-2007 to 4-Oct-2007	$270,404.87	Fully Paid Ordinary 64,699
StichtingPensioenfolds - ABP	1-Aug-2007 to 4-Oct-2007	$2,701,785.21	Fully Paid Ordinary 671,158
Stichting Pensioenfolds Hoogovens	1-Aug-2007 to 4-Oct-2007	$346,084.83	Fully Paid Ordinary 85,834

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 Related bodies corporate of AMP Limited under Part 1.2 of the Corporations Law. Limited (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
Commonwealth Bank Officers Superannuation	9th Floor, 48 Martin Place, 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 Enhanced Index Share	Level 14, 83 Clarence Street, Sydney NSW 2000
Fund
Stichting Pensioenfonds Hoogovens	PO Box 10,000, 1970 CA IJmuiden, The Netherlands
Stichting Pensioenfonds ABP	PO Box 10,000, 1970 CA IJmuiden, The Netherlands

This Initial Substantial Holder Notice (ASIC Form 603) comprises 2 page/s in total.