JOINT STOCK EXCHANGE ANNOUNCEMENT AND NEWS RELEASE

Melbourne, 1400, Tuesday, 19 June 2001

BHP Limited and Billiton Plc announce that the implementation of the merger between the two companies is expected to take effect on 29 June 2001.

BHP also announces that the record date for the issue of BHP Billiton Limited bonus shares to eligible BHP shareholders is expected to be Thursday 5 July 2001:

• to the extent that the Securities Clearing House Rules apply, on the basis of a record date of Thursday 5 July 2001.
• otherwise, on the basis of shareholdings registered and transfers lodged at 5.00 pm (Melbourne time) on Thursday 5 July 2001.
  

The last day that BHP shares will trade on a cum-bonus share basis will be Thursday 28 June 2001. As such, BHP Billiton Limited shares purchased after 28 June 2001 will not be eligible for the bonus share entitlement.

Allotment of shares to eligible shareholders will occur within the required 10 business day period following the record date.

As advised at the time of the merger announcement, each eligible BHP shareholder will receive 1.0651 BHP Billiton Limited shares for every existing BHP share held. The bonus issue is to ensure that the economic interest of each BHP Billiton Limited share and each BHP Billiton Plc share is equivalent following implementation of the merger. It can be expected that there will be an appropriate downward adjustment in the BHP Billiton Limited share price to reflect the higher number of shares on issue.


Contact
BHP
Australia (media)
Mandy Frostick
Manager Media Relations
BHP Limited
Phone: +61 3 9609 4157
Mobile: +61 419 546 245
Fax: +61 3 9602 4121
e-mail: frostick.mandy.mj@bhp.com

Australia (investor relations)
Robert Porter
Vice President Investor Relations
BHP Limited
Phone: +61 3 9609 3540
Mobile +61 419 587 456
Fax: +61 3 9609 3006
e-mail: porter.robert.r@bhp.com

United States (investor relations)
Francis McAllister
Vice President Investor Relations
BHP Limited
Phone: +1 713 961 8625
Mobile +1 713 480 3699
e-mail: mcallister.francis.fr@bhp.com


Billiton
London (media and investor relations)
Marc Gonsalves
General Manager
Billiton
Phone: +44 20 7747 3956
Mobile: +44 7768 264 950
Fax: +44 20 7747 3914
e-mail: mgonsalves@Billiton.com

Johannesburg (media and investor relations)
Michael Campbell
Manager Corporate Affairs
Billiton
Phone: +27 11 376 3360
Mobile: +27 82 458 2587
Fax: +27 11 376 3362
e-mail: mcampbell@Billiton.co.za