Product Disclosure Statement (PDS) updates

29 April 2008: AMP Capital Total Return Fund - change of unit price calculation used for withdrawals

AMP Capital Total Return Fund PDS

Under the 'Liquidity' section on page 18 of the PDS dated 1 December 2007, immediately following the last sentence of paragraph three, insert the following:

From 29 April 2008, the unit price used to calculate your withdrawal value will generally be the price prevailing on the day we process your withdrawal (or part withdrawal) request, not the day you notify us of your intention to withdraw.

Staff Investment Programme PDS

Under 'Withdrawal prices and payment times' section on page 58 of the PDS dated 10 March 2008, the first paragraph is deleted and replaced with the following:

Withdrawal prices and payment times

We normally determine the market value and net asset value of a fund at least each business day, using the market prices of the assets in which a fund is invested, other than for the AMP Capital Structured High Yield Fund, AMP Capital Core Infrastructure Fund, AMP Capital Total Return Fund and Future Directions Property (Feeder) Fund. For these funds, the unit price used to calculate your withdrawal value will generally be the price prevailing on the day we process your withdrawal (or part withdrawal) request, not the day you notify us of your intention to withdraw.

24 April 2008: Wholesale Australian Share Fund - change of distribution frequency

The distribution frequency for the Wholesale Australian Share Fund has been changed to half-yearly. This will align the Fund’s distribution frequency with that of the two underlying funds in which the Fund invests.

Consequently, under ‘Fund income – when and how?’ on page 7 of the PDS dated 14th January 2008, the reference to quarterly is deleted and replaced with ‘half-yearly’.

31 March 2008: Reinvestment of distributions

The following Product Disclosure Statements are affected by the 'reinvestment' update below:

AMP Capital Core Infrastructure Fund
AMP Capital Core Property Fund
AMP Capital Enhanced Yield Fund
AMP Capital Equity Fund
AMP Capital Global Property Securities Fund
Responsible Investment Leaders Funds
AMP Capital Small Companies Fund
AMP Capital Sustainable Share Fund
AMP Capital Total Return Fund

Reinvestment

The issue price for reinvested distributions is determined by the net asset value (adjusted by any distribution payable) and the number of units on issue in the unit class as at the last day of the distribution period. No buy spread is applied to reinvested distributions.