AMP LIMITED — Major Shareholding Notification 2007

Sep 2, 2007

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Date: 4-Sep-07

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 Babcock & Brown Power.

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: Babcock & Brown Power

ACN/ARSN: 116 665 608

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 31-Aug-2007 The previous notice was given to the company on 30-Aug-2007 The previous notice was dated 27-Aug-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
28-Aug-2007to 31-Aug-2007	AMPCapitial InvestorsLimited	Share acquisition	$579,559.00	Fully Paid Stapled Securities 198,513	198,513
31-Aug-07	AMP LifeLimited	Share acquisition	$9,275,911.44	Fully Paid Stapled Securities 3,176,682	3,176,682
29-Aug-07	CogentNomineesPtyLimited	Share acquisition	$449,929.99	Fully Paid Stapled Securities 154,663	154,663
31-Aug-07	Cogent Nominees Pty Limited	Share acquisition	$981,169.64	Fully Paid Stapled Securities 336,017	336,017
31-Aug-07	Equipsuper	Share acquisition	$753,088.44	Fully Paid Stapled Securities 257,907	257,907
31-Aug-07	Government Employees Superannuation Board	Share acquisition	$1,494,549.44	Fully Paid Stapled Securities 511,832	511,832
31-Aug-07	Queensland Local Government Superannuation Board	Share acquisition	$12,123.84	Fully Paid Stapled Securities 4,152	4,152
31-Aug-07	State Authority Superannuation EnhancedIndexShareFund	Share acquisition	$499,988.68	Fully Paid Stapled Securities 171,229	171,229
31-Aug-07	StichtingPensioenfolds- ABP	Share acquisition	$2,535,859.40	Fully Paid Stapled Securities 868,445	868,445
31-Aug-07	Stichting Pensioenfolds Hoogovens	Share acquisition	$306,821.92	Fully Paid Stapled Securities 105,076	105,076

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 Cogent Nominees Pty Limited Level 6, 60 Castlereagh Street, Sydney NSW 2000 Equipsuper 171 Flinders Street, Melbourne VIC 3000 Government Employee Superannuation Board PO Box J755, Perth WA 6842 QLD Local Government Superannuation Board Of GPO Box 264, Brisbane QLD 4001 State Authority Superannuation Enhanced Index Share Fund 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

This notice of change of interests of substantial holder (ASIC Form 605) comprises 1 page/s in total.