EL SEGUNDO, Calif., May 17, 2004 – Australian financial services giant AMP Limited (ASX: AMP) has signed a new three-year, $103 million (AUD$150 million) information technology (IT) outsourcing contract extension with Computer Sciences Corporation (NYSE: CSC).

Under the agreement, CSC will continue to provide desktop, network and mainframe maintenance and support, and selected mid-range services, for AMP’s Australian operations through May 2007.

CSC’s relationship with AMP began in November 1993 when the companies signed an initial 10-year outsourcing agreement.

“CSC has worked closely with AMP through various national and international acquisitions, and we are pleased to extend the relationship,” said CSC Chairman and Chief Executive Officer Van B. Honeycutt. “This extension evidences how CSC’s experience in complex outsourcing situations delivers sound business results to industry-leading clients.”

Lee Barnett, AMP’s chief information officer, believes that focus on relationship management was key to the successful further association between AMP and CSC.

“After a rigorous review process, CSC was awarded a contract extension due to its service track record, demonstrated in particular over the last two years, competitive pricing and CSC’s ability to adapt to AMP’s business needs,” Barnett said.

About AMP

AMP is a leading provider of wealth management products and services in Australia and New Zealand. Through AMP Financial Services, AMP has strong market share positions in a range of superannuation, risk insurance and traditional life insurance products in Australia and New Zealand. Through AMP Capital Investors, AMP is one of the largest investment managers in Australia and is the largest investment manager in New Zealand. AMP has around 4,000 employees, 2 million customers, 980,000 shareholders and manages assets of A$70 billion.

About CSC

Founded in 1959, Computer Sciences Corporation is a leading global IT services company. CSC’s mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.

With approximately 90,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC’s own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $13.8 billion for the 12 months ended Jan. 2, 2004. For more information, visit the company’s Web site at www.csc.com.