orange gradient

BHP Billiton Announces Plan Of Arrangement To Acquire Anglo Potash Ltd

Number 17/08

BHP Billiton today announced that it has entered into a definitive agreement with Anglo Potash Limited ("Anglo Potash") to acquire all of the issued and outstanding common shares of Anglo Potash at a price of C$8.15 cash per common share (the "Transaction").

Anglo Potash's only asset is its 25% interest in the Canadian potash Joint Venture development project in which BHP Billiton has a 75% interest. If approved, today's announced acquisition will deliver to BHP Billiton 100% control of the Joint Venture.

The total equity value of the Transaction is approximately US$282 million (C$284 million) on a fully diluted basis.

BHP Billiton Diamonds & Specialty Products President Graham Kerr said, "our Canadian potash position comprises a world class development with over 7,338 square kilometres of highly prospective exploration permits in the immediate vicinity of existing major Saskatchewan potash mines. Today's announcement is consistent with BHP Billiton's strategy of capturing and developing premium growth options in long-life, low cost natural resources with a focus on delivering shareholder and stakeholder value".

Further information can be found in the attached joint announcement by BHP Billiton and Anglo Potash.

Joint announcement

For further information please contact:

Samantha Evans, Media Relations
Tel: +61 3 9609 2898  Mobile: +61 400 693 915

Leng Lau, Investor Relations
Tel: +61 3 9609 4202  Mobile: +61 403 533 706
email: Leng.Y.Lau

United Kingdom & South Africa
Andre Liebenberg, Investor Relations
Tel: +44 20 7802 4131  Mobile: +44 7920 236 974

Illtud Harri, Media Relations
Tel: +44 20 7802 4195  Mobile: +44 7920 237 246

United States
Tracey Whitehead, Investor & Media Relations
Tel: US +1 713 599 6100 or UK +44 20 7802 4031
Mobile: +44 7917 648 093