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Five-year financial summary

Amounts in 2007, 2006, 2005 and 2004 have been measured under Australian equivalents to International Financial Reporting Standards
(AIFRS). Amounts in 2003 were measured under previous Australian Accounting Standards.

2007 2006 2005
Year ended 31 December $m $m $m

Consolidated income statement1, 2
Net premium, fee and other revenue 2,869 2,437 2,178

Investment gains (losses)
8,128 11,791 9,814

Profit (loss) before income tax from continuing operations3 1,237 1,608 1,551
Income tax (expense) credit (445) (781) (761)
Profit from discontinued operations held for sale after income tax2 193 88 –
Outside equity interests (including unattributed life funds) – – –

Net profit after tax attributable to shareholders
985 915 790

Consolidated balance sheet

Cash and cash equivalents 2,141 1,108 978
Investment assets 102,258 93,484 81,762
Intangibles 1,005 862 632
Assets of discontinued operations held for sale2 747 – –
Other assets 2,266 2,520 2,116

Total assets
108,417 97,974 85,488

Borrowings and subordinated debt 11,653 10,423 9,518
Life insurance contract liabilities 20,635 20,974 20,942
Investment contract liabilities 52,357 46,668 38,712
Outstanding claims – 805 1,037
Liabilities of discontinued operations held for sale2 672 – –
Other liabilities4 21,086 16,650 12,456

Total liabilities
106,403 95,520 82,665

Net assets
2,014 2,454 2,823

Contributed equity 3,827 4,067 4,749
Reserves (2,446) (1,983) (2,002)
Retained earnings 546 328 63

Total equity attributable to shareholders
1,927 2,412 2,810

Unattributed life funds – – –
Minority interests4 87 42 13

Total equity
2,014 2,454 2,823

3,145 7,890
2007 2006 2005 2004 2003

2004 2003
$m $m
2,505 3,938
9,300 6,989
1,453 (7,199)
(545) 25
– –
(35) 1,632
873 (5,542)
1,072 3,251
71,296 60,545
627 795
– –
2,270 5,630
75,265 70,221
9,381 10,061
20,639 } 47,51232,737
1,243 1,644
– –
8,120 3,114
72,120 62,331
3,145 7,890
5,416 5,533
(2,035) (2,065)
(240) 61
3,141 3,529
– –
4 4,361
Other financial data
Basic earnings per ordinary share ($ps) $0.53 $0.50 $0.43 $0.48 ($4.00)
Diluted earnings per ordinary share ($ps) $0.53 $0.49 $0.43 $0.48 ($4.00)
Dividends per ordinary share ($ps) $0.46 $0.40 $0.32 $0.27 $0.16
Number of ordinary shares (m) 1,875 1,875 1,870 1,860 1,845
Funds under management ($bn) 129 122 104 90 76

Footnote:

1
2003 amounts include UK operations up until the demerger, 12 December 2003.

2
As previously announced to the market on 11 December 2007, the AMP group entered into a sale agreement for its closed reinsurance operations,
Cobalt/Gordian. The sale, finalised on 5 March 2008, represents a complete exit from this business by the AMP group. For 2007 and 2006, the results of
the discontinued operations held for sale are disclosed as a single item in the Consolidated income statement. For 2007, the assets and liabilities of the
discontinued operations held for sale are disclosed as separate items in the Consolidated balance sheet.

3
Net loss in 2003 includes loss on demerger of UK operations ($3,585m), restructuring and demerger costs and writedowns.

4
Under AIFRS, external unitholders’ interests in controlled trusts are classified as liabilities. Under previous Australian Accounting Standards these amounts
were classified as minority interests.