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Number 21/05

BHP Billiton advises that results for the half year ended 31 December 2004, and balance sheet as at 30 June 2004 have been prepared under IFRS.  

Application of IFRS has no impact on BHP Billiton’s strategy or cash flows.  The majority of IFRS have little or no impact on either the Group’s financial results as previously reported under UKGAAP, or existing accounting policies.

For the half year ended 31 December 2004, net profit under IFRS of US$2.827 billion was US$70 million higher than under UK Generally Accepted Accounting Principles (UKGAAP).  At 31 December 2004, IFRS attributable shareholders equity was US$14.336 billion, US$10 million lower than under UKGAAP.    

Details of the Group’s IFRS results, and explanations of differences to those previously reported under UKGAAP are available at www.bhpbilliton.com.

For further information please contact:

Australia
Jane Belcher, Investor Relations
Tel: +61 3 9609 3952  Mobile: +61 417 031 653
email: Jane.H.Belcher@bhpbilliton.com

Tracey Whitehead, Investor Relations
Tel: +61 3 9609 4202  Mobile: +61 419 404 978
email: Tracey.Whitehead@bhpbilliton.com

Tania Price, Media Relations
Tel: +61 3 9609 3815  Mobile: +61 419 152 780
email: Tania.Price@bhpbilliton.com

United Kingdom
Mark Lidiard, Investor & Media Relations
Tel: +44 20 7802 4156
email: Mark.Lidiard@bhpbilliton.com

Alison Gilbert, Investor Relations
Tel: +44 20 7802 4183  Mobile: +44 77 69 93 6227
email: Alison.Gilbert@bhpbilliton.com

Ariane Gentil, Media Relations
Tel: +44 20 7802 4177
email: Ariane.Gentil@bhpbilliton.com

United States
Mark Lidiard, Investor & Media Relations
Tel: US +1 713 599 6100 or UK +44 20 7802 4031
email: Mark.Lidiard@bhpbilliton.com

South Africa
Michael Campbell, Investor & Media Relations
Tel: +27 11 376 3360  Mobile: +27 82 458 2587
email: Michael.J.Campbell@bhpbilliton.com