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BHP Billiton Unveils Streamlined Organization Structure

March 19, 2004 — BHP Billiton announced that it had modified its organization structure to streamline reporting and maximize the operational effectiveness of the company.

Following the reorganization, the organization’s existing Customer Sector Groups (CSGs) will be brought under three broadly related business areas—Non-Ferrous Materials, Carbon Steel Materials and Energy. The existing CSG structure has been very effective and will be continued within the new structure. Leadership of the individual CSGs will continue to have responsibility for their strategy development, operations, project identification and project development.

Mike Salamon, President Aluminum, Senior Minerals Executive and an Executive Director of BHP Billiton will become Group President Non-Ferrous Materials. Mike’s area of responsibility will include the Aluminum CSG, the Base Metals CSG and the Stainless Steel CSG. In addition, he will be responsible for Health, Safety and Environment and Project Development Services and continue his role as an Executive Director of BHP Billiton. Alex Vanselow, currently CFO Aluminum, will become President Aluminum and a member of the Executive Committee.

Bob Kirkby will become Group President Carbon Steel Materials. He will retain overall responsibility for the company’s iron ore, metallurgical coal and manganese businesses, and will also assume responsibility for Operating Excellence and Group Supply. Bob will join the Office of the Chief Executive. Phil Aiken, in addition to retaining his role as President Petroleum, will become Group President Energy. Phil will be responsible for the Petroleum and Energy Coal CSGs.

The Diamonds and Specialty Products CSG, including Minerals Exploration and Technology, will report to the Chief Commercial Officer, Marius Kloppers. In addition to retaining his current role as President Diamonds and Specialty Products, Marcus Randolph will assume responsibilities in the business development area.

The functional areas of Finance, Legal and Human Resources will remain unchanged other than that Ian Fraser, Group Vice President Human Resources, will join the Office of the Chief Executive. The financial reporting structure remains unchanged.

Chip Goodyear, CEO, said: “These adjustments to our organization maintain the very effective customer-focused CSGs while allowing us to streamline reporting. They will allow us to more efficiently execute our strategy and identify and execute value-added opportunities.”

The Office of the Chief Executive, the principal managerial decision-making body in the Group, will now comprise the following positions:

• Chief Executive Officer & Executive Director, Chip Goodyear
• Group President Non-Ferrous Materials & Executive Director, Mike Salamon
• Group President Carbon Steel Materials, Bob Kirkby
• Group President Energy, Phil Aiken
• Chief Commercial Officer, Marius Kloppers
• Chief Financial Officer, Chris Lynch
• Chief Legal Counsel, John Fast
• Group Vice President Human Resources, Ian Fraser

These changes are effective immediately.

In a separate release, BHP Billiton also announced the resignation of Mike Oppenheimer, President of BHP Billiton’s Energy Coal Customer Sector Group following the reorganization.

BHP Billiton Chief Executive Officer, Chip Goodyear said: “Mike has done an excellent job running our Energy Coal CSG since June 2001. As a result of the changes to our organizational structure announced today, Mike has decided to leave the company. He will stay on until the end of July to ensure a smooth transition of the business to new leadership. I would like to wish Mike well for the future.”

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