AMP LIMITED — Major Shareholding Notification 2007

Oct 29, 2007

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Date:

29th October 2007

The Manager Listings Department Australian Stock Exchange Limited

No. of Pages (incl.): 2

NOTICE OF PERSON CEASING TO BE A SUBSTANTIAL HOLDER

Dear Sir/Madam,

Pursuant to Section 671 of the Corporations Law, AMP Limited hereby advises that it is no longer a substantial holder in Wattyl Limited.

The enclosed ASIC Form 605 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 605

Corporations Law Section 671B

Notice of Ceasing to be a Substantial Holder

To:

Wattyl Limited

ACN/ARSN: 008 412 173

1. Details of substantial holder

Name: AMP Limited ACN 079 354 519 and its related bodies corporate.

The holder ceased to be a substantial holder on 25th October 2007 The previous notice was given to the company on 23-Oct-2007 The previous notice was dated 19-Oct-2007

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, relevant interests of the substantial holder or an associate in voting securities of the company, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	_Nature of change _	Consideration given in _relation to change _	Class and number of securities affected	Person’s votes affected
22-Oct-2007 to 23-Oct-2007	AMP Capitial Investors Limited	Share disposal	-$22,936.69	Fully Paid Ordinary -7,933	-7,933
25-Oct-07	AMP Life Limited	Share disposal	-$152,880.00	Fully Paid Ordinary -52,000	-52,000
25-Oct-07	Queensland Local Government Superannuation Board	Share disposal	-$249,900.00	Fully Paid Ordinary -85,000	-85,000
25-Oct-07	StichtingPensioenfolds - ABP	Share disposal	-$2,190,300.00	Fully Paid Ordinary -745,000	-745,000
25-Oct-07	Stichting Pensioenfolds Hoogovens	Share disposal	-$346,920.00	Fully Paid Ordinary -118,000	-118,000

3. Change in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ‘ACN Nature of association No Changes

4. 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 QLD Local Government Superannuation Board Of GPO Box 264, Brisbane QLD 4001 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 notice of change of interests of substantial holder (ASIC Form 605) comprises 1 page/s in total.