Aug 8 (Reuters) - AMP Ltd AMP.AX :
* REVISED AGREEMENT FOR SALE OF AMP LIFE
* REVISED AGREEMENT DELIVERS A CONSIDERATION OF A$3.0 BILLION
* REVISED AGREEMENT DELIVERS A CONSIDERATION OF A$3.0 BILLION
* ANNOUNCES A REVISED AGREEMENT WITH RESOLUTION LIFE, WITH UPDATED TERMS, FOR SALE OF AMP LIFE
* SALE IS NOW EXPECTED TO COMPLETE IN 1H 20
* CASH PROCEEDS OF A$2.5 BILLION FROM SALE WILL BE USED TO FUND SEPARATION COSTS REPAY DEBT AND FUND CAPITAL DIS-SYNERGIES
* BOARD CONSIDERS THAT SALE OF AMP LIFE DELIVERS BEST OUTCOME FOR POLICYHOLDERS, COMPANY AND ITS SHAREHOLDERS
* CONSIDERATION INCLUDES A$500 MILLION EQUITY INTEREST (EXPECTED TO BE AROUND 20 PER CENT) IN RESOLUTION LIFE AUSTRALIA
* REAFFIRMS ITS COMMITMENT TO REMOVE STRANDED COSTS OF A$40 MILLION PER ANNUM
* AMP-REAFFIRMS COMMITMENT TO FULLY OFFSET IMPACT OF UNWINDING OF DISTRIBUTION ARRANGEMENTS OF A$65 MILLION PER ANNUM THROUGH ACTIONS FROM ITS NEW STRATEGY