Number 28/05

The Australian Taxation Office has today issued assessments against BHP Billiton subsidiary BHP Billiton Finance Ltd in respect of the 2000, 2001 and 2002 financial years.

The assessments relate to the deductibility of bad debts in respect of funding Australian subsidiary company operations.

The assessments are for primary tax of US$443.8 million (A$570.5 million) and interest (net of tax) and penalties of US$283.9 million (A$365 million).

BHP Billiton disputes the assessments.  The Company has taken legal advice and remains confident of its position.  It intends to vigorously defend the claims.  

The Company believes that the matter is adequately provided for in the accounts.

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

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 Mobile: +44 7769 934 942
email: Mark.Lidiard@bhpbilliton.com

Ariane Gentil, Media Relations
Tel: +44 20 7802 4177  Mobile: +44 78 81 51 8715
email: Ariane.Gentil@bhpbilliton.com

United States
Mark Lidiard, Investor & Media Relations
Tel: USA +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