21 July 2011

Public Affairs

Tel: 02 9257 6127

Email: media@amp.com.au

Website: AMP.com.au/media

AMP_media

AMP announces merged business leadership structure

AMP Limited has announced its business structure and leadership teams for AMP Financial

Services and AMP Capital Investors.

The changes, which will intensify the company?s customer and external focus, support its aim to build on the strengths of both AXA and AMP to create a new, stronger organisation.

The merger of AMP Limited and AXA Asia Pacific Holdings Limited Australian and New Zealand businesses was implemented on 30 March 2011.

AMP Financial Services

AMP Financial Services (AFS) Managing Director Craig Meller has announced a new business structure and management team effective 1 August 2011.

Mr Meller said the new structure, which has eight divisions, supports the business? push to create a customer focused business in an increasingly competitive market.

?We are creating a strong market-facing, customer focused business with quality financial advice at its heart. We?ll use our two key sources of competitive advantage; customer insight and cost efficiency, to support planners and advisers across the AMP Group grow their businesses and deliver value to our customers,? Mr Meller said.

The new divisions and directors are:

Strategic Sales and Marketing, headed by Adrian Emery (previously AXA General Manager Sales & Marketing) will be responsible for developing the AFS business strategy and customer value proposition, and setting sales and growth targets.Banking and Wealth Management Products, headed by Rob Caprioli (previously AMP Director Product Manufacturing), will manage all superannuation, retirement and investment products and platforms, including North, and will remain responsible for AMP Bank.Wealth Protection and Mature Products, led by Ian Campbell (previously AXA General Manager Product) will be responsible for all risk and mature products and for maintaining and enhancing the two current risk products and the development of a single risk product within the next two years.AMP announces merged business leadership structure/ 2Operations, headed by Wendy Thorpe (previously AXA Chief Operating Officer) who will now report to Mr Meller in recognition of the important role customer and adviser support services will play. Ms Thorpe will be responsible for all product administration operations, including underwriting and claims.AMP?s Financial Planning, Advice and Services and AXA?s Financial Advice Network will not change, as previously outlined by Mr Meller. These divisions will continue to be led by Steven Helmich and Andrew Waddell respectively.ipac, which will continue to be led by Neil Swindell (ipac Managing Director) will have the additional responsibility of AMP Private Wealth Management reflecting ipac?s expertise in the employed advice model. Its existing business will remain largely unchanged.

AFS?s New Zealand division announced its integrated structure and leadership team in May with Jack Regan continuing to lead that division.

The newly appointed directors come from the existing AFS interim leadership team announced in March. The directors will have interim leadership teams in place until they finalise the structure of their divisions over the next three months.

AMP Capital Investors

AMP Capital Investors? Managing Director Stephen Dunne has signalled a greater focus on building capabilities to support the merged group?s increased adviser footprint and leveraging the retail experience AXA delivers.

?The merger of AMP and AXA presents significant opportunities for AMP Capital particularly in the retail marketplace and through increased scale which will deliver the benefit of greater efficiencies to the business and clients,? Mr Dunne said.

The AMP Capital leadership team remains the same. However, the Multi Asset Group, led by David Kiddie and the Client, Product and Marketing division, headed up by Brian Delaney, will appoint senior managers to build AMP Capital?s presence in the retail asset management market.

In the Multi Asset Group, ipac CIO Jeff Rogers has accepted the newly created role of Head of Investment Solutions ? Retail, reporting to David Kiddie. This will be in addition to his current role. Mr Rogers? retail experience and the direction he has provided to ipac will be central to the value he can add to AMP Capital in this role.

Media enquiries

Investor enquiries

Jane Anderson

Stuart Kingham

Tel: +61 2 9257 9870

Tel: +61 2 9257 5207

Mobile: +61 402 967 791

Mobile: +61 401 139 067

Amanda Wallace

Howard Marks

Tel: +61 2 9257 6168

Tel: +61 2 9257 7109

Mobile: +61 422 379 964

Mobile: +61 402 438 019