AMP LIMITED — Major Shareholding Notification 2007

Jul 15, 2007

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Date:

16-Jul-07

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 Tower Australia Group 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: Tower Australia Group Limited ACN/ARSN: 003 401 698

1. Details of substantial holder

Name: AMP Limited (ACN 079 354 519) and its related bodies corporate. The holder became a substantial holder on 13-Jul-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	16,883,790		16,883,790		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 ofsecuritiesPa	erson's votesffected
AMP Life Limited ("AMP Life")	AMP Life is entitled to be the registered holder of theclass and number of securities listed beside its name.AMP Life is a controlled body corporate of AMP Limitedwithin the meaning of Section 608(3) of theCorporations Law	Fully Paid Ordinary:9,323,273	9,323,273
AMP Capital Investors Limited('AMP Capital')	AMP Capital, in its capacity as the investment managerfor the persons or trusts listed besides its name inParagraph 4, has the power to control voting and/or thedisposal of securities. AMP Capital is a controlled bodycorporate of AMP Limited within the meaning of Section608(3) of the Corporations Law	Fully Paid Ordinary:7,560,517	7,560,517
Total:16,883,790

4. Details of present registered holders

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

HolAMAM	HolAMAM									Person’s votesffected9,323,2732,720,583	Person’s votesffected9,323,2732,720,583
	Hol	der of relevant int	erest	Registered holdersecurities	of	Person eregistere	ntitled to bed as holder	Clasec	ss and number ofurities a	Person’s votesffected
	AM	P Life Limited		AMP Life Limited		AMP Lif	e Limited	Full9,3	y Paid Ordinary:23,273	9,323,273
	AM	P Capital Investor	s Limited	Cogent NomineesLimited <SMP Acc	Ptyounts>	CogentLimited	Nominees Pty	Full2,7	y Paid Ordinary:20,583	2,720,583
				Cogent NomineesLimited	Pty	CogentLimited	ominees Pty	Full354	y Paid Ordinary:,850	354,850
				Citicorp NomineesLimited	Pty	StichtingHoogove	Pensionfondsns	Full113	y Paid Ordinary:,468	113,468
				Goldman Sachs		AMP Ca	pital Investors	Full	y Paid Ordinary: 34,858	34,858
						AustraliaShortFu	n Equity Longnd
				JP Morgan NominAustraliaLimited	ees	StichtingABP	Pensionfonds	Full195	y Paid Ordinary:,635	195,635
				JP Morgan NominAustraliaLimited	ees	QLD LocSuperan	al Governmentnuation Board	Full255	y Paid Ordinary:,594	255,594
				JP Morgan Nomin	ees	State Au	thority	Full	y Paid Ordinary:	1,829,248
				AustraliaLimited		Superan	nuationScheme	1,8	9,248
				JP Morgan NominAustralia Limited	ees	State AuSuperan	thoritynuation Enhanced	Full144	y Paid Ordinary:,044	144,044
						Index S	are Fund
				National Nominee	s Pty	Governm	ent Employees	Full	y Paid Ordinary:	365,302
				Limited		Superannuation Board		365,302
				National Nominees PtyLimited		Commonwealth BankOfficers SuperannunationCorporation Pty Ltd astrustee for the Officers'Superannuation Fund		Fully Paid Ordinary:439,621		439,621
				National Nominees PtyLimited		Unisuper		Fully Paid Ordinary:1,107,314		1,107,314
				Total:16,883,790

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 ofsecurities
AMP Life Limited	1-May-2007 to 12-Jul-2007	$15,865,207.73	Fully Paid Ordinary Shares7,025,017
Cogent Nominees PtyLimited	29-May-2007 to 12-Jul-2007	$804,319.45	Fully Paid Ordinary Shares354,850
Cogent Nominees Pty Limited	29-May-2007 to 12-Jul-2007	$5,690,226.09	Fully Paid Ordinary Shares2,510,265
Government EmployeesSuperannuation Board	29-Jun-2007 to 2-Jul-2007	$286,646.97	Fully Paid Ordinary Shares124,500
State AuthoritySuperannuation Scheme	29-May-2007 to 12-Jul-2007	$4,146,421.38	Fully Paid Ordinary Shares1,829,248
UniSuper Limited	29-May-2007 to 12-Jul-2007	$2,509,744.27	Fully Paid Ordinary Shares1,107,314

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
Commonwealth Bank Officers Superannuation Corporation	9th Floor, 48 Martin Place, Sydney NSW 2000
Goldman Sachs Asia LLC	68th Floor, 2 Queens Road, Central Hong Kong
JP Morgan Nominees Australia Limited	259 George Street, Sydney NSW 2000
QLD Local Government Superannuation Board	Of GPO Box 264, Brisbane QLD 4001
State Authority Superannuation Scheme	Level 14, 83 Clarence Street, Sydney NSW 2000
Stichting Pensioenfonds Hoogovens	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 2 page/s in total.