Merger Completion Date

BHP Limited
19 June 2001

JOINT STOCK EXCHANGE ANNOUNCEMENT AND NEWS RELEASE

Melbourne, 1400, Tuesday, 19 June 2001



BHP BILLITON MERGER COMPLETION DATE



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; and
  * 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.

ENQUIRIES:
BHP
Australia (media):
Mandy Frostick, Manager Media Relations, BHP Limited
Tel: [phone]
Mobile: [phone]
Fax: [phone]
email: [e-mail]

Australia (investor relations):
Robert Porter, Vice President Investor Relations, BHP Limited
Tel:     + 61 3 9609 3540
Mobile: [phone]
Fax:     + 61 3 9609 3006
email: [e-mail]

United States (investor relations):
Francis McAllister, Vice President Investor Relations, BHP Limited
Tel:     [phone]
Mobile: [phone]
email: [e-mail]

Billiton
London (media and investor relations):
Marc Gonsalves, General Manager , Billiton
Tel:     [phone]
Mobile: [phone]
Fax:     [phone]
email: [e-mail]

Johannesburg (media and investor relations):
Michael Campbell, Manager Corporate Affairs, Billiton
Tel:     [phone]
Mobile: [phone]
Fax:     [phone]
email: [e-mail]