AMP takes great pride in its relationship with the financial community. The importance of this relationship grows as AMP continues to enter the market to finance new capital projects. Policies have been established by the AMP Board of Trustees to ensure AMP remains a strong and viable organization throughout this period of growth.

Credit Agreement

On September 24, 2007, AMP entered into a Credit Agreement with a syndicate of commercial banks led by J.P. Morgan Chase Bank, National Association. The total available credit is currently $550 Million. Other members of the syndicate include: Key Bank, Wells Fargo, Union Bank of California, Depfa Bank, Sun Trust Bank, US Bank, Bank of America, Bank of Montreal and Huntington Bank.

Tax Exempt Commercial Paper

On January 22, 2008 AMP initiated a tax-exempt commercial paper (“CP”) program for interim funding of AMP capital projects. The amount of the CP program is $450 million and it is secured by a letter of credit drawn under its Line of Credit (defined above).

AMP will seek to maintain the highest possible credit ratings for all categories of AMP debt within the context of fulfilling key financial responsibilities and Policy objectives. AMP debt shall be structured in a manner consistent with the best practice standards established by the three rating agencies (Moody’s Investors Services, Standard & Poor’s Ratings Services and Fitch Ratings).

AMP dedicates staff to assure annual compliance with all requirements for continuing disclosure as required to meet Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Act of 1934.