Hi Tim,
What they're asking is impossible without more info ... unless I'm missing something, "the same sized image" is probably also an unknown with the image probably hasn't ever been printed; and if it had (or the "dimensions" had been noted on some program) then why would 480 PPI be a problem, as it exceeds the 300 PPI requirement. Just doesn't make any sense.
About the only time any of this would make any sense would be if they said they wanted to print a 12 x 8" image at 300 PPI (thus 3600 x 2400 pixels required), and the version the OP had supplied electronically was something considerable less than 3600 x 2400.