Director Shareholding

BHP Billiton Limited
4 January 2002

    BHP Billiton Limited is issuing this announcement to fulfil disclosure
 obligations arising from its secondary listing on the London Stock Exchange.

   The text of this release is identical to that issued by BHP Billiton Plc
                                   earlier.


Company Secretariat
4 January 2002



To:    Australian Stock Exchange       cc:    New York Stock Exchange
       Companies Announcements Office         Swiss Stock Exchange
                                              New Zealand Stock Exchange
       London Stock Exchange                  Johannesburg Stock Exchange
       Companies Announcements Office         Paris Bourse
                                              Deutsche Bank



                   Australian Stock Exchange Limited (ASX)

                      Appendix 3X of the Listing Rules

     Initial Notification of Interests of Directors and Connected Persons


Name of entities        BHP Billiton Limited           BHP Billiton Plc
                        ABN  49 004 028 077            REG NO  3196029



As part of a dual listed company structure, the BHP Billiton Group has agreed
to adopt the better of the existing governance practices between BHP Billiton
Plc and BHP Billiton Limited.  As a result, the Group voluntarily notifies all
stock exchanges on which either BHP Billiton Plc or BHP Billiton Limited have
primary or secondary listings, all those interest of directors of both
entities in the securities of both entities (and changes to those interests)
which are required to be disclosed under the ASX Listing Rules, the Listing
Rules of the United Kingdom Listing Authority, the Australian Corporations
Act, the United Kingdom Companies Act and the Group's Securities Dealing Code.



This Initial Notification is filed in consequence of new Listing Rules of the
ASX effective 1 January 2002, and the details are as at that date.



We (the entities) advise the following information under ASX Listing Rule
3.19A.1 and as agent for the director for the purposes of section 205G of the
Australian Corporations Act and otherwise in accordance with the foregoing
policy -


Name of director              Mr B P Gilbertson
Date of appointment           BHP Billiton Limited  -      29.6.2001

                              BHP Billiton Plc      -      26.6.1997




Part 1 - Director's relevant interests in securities of which the director is
the registered holder



In the case of a trust, this includes interests in the trust made available by
the responsible entity of the trust.


Number & class of securities



389 994 ordinary shares in BHP Billiton Plc







Part 2 - Director's relevant interests in securities of which the director is
not the registered holder



Included in this Part is:

*     in the case of a trust, interests in the trust made available by the
responsible entity of the trust;

*     details of the circumstance giving rise to the relevant interest; and

*     the relevant interest of Connected Persons as defined in the United
Kingdom Companies Act, their identity and relationship to the director.  The
definition includes spouses and children under 18 years of age.


Name of holder & nature of interest                                  Number &
                                                                     class of
                                                                     securities

Billiton ESOP Trustees Limited as
trustee of the Billiton Employee Share Ownership Trust.  Under the
Trust,                                                               521 411
all employees of BHP Billiton Plc, including its executive directors ordinary
(of which Mr Gilbertson is one) are potential beneficiaries of the   shares in
Trust under provisions allowing the Trustee discretion to distribute BHP
excess Trust assets, either on winding up of the Trust or before.    Billiton
The executive directors therefore have an interest in the balance of Plc
the shares in BHP Billiton Plc held in the Trust at any one time.



Vidacos Nominees Limited as trustee of a family trust of which the   519 091
director is a potential beneficiary.                                 ordinary
                                                                     shares in
                                                                     BHP
                                                                     Billiton
                                                                     Plc

Billiton ESOP Trustees Limited a/c GILB, held on trust for the       244 167
director                                                             ordinary
                                                                     shares in
                                                                     BHP
                                                                     Billiton
                                                                     Plc



Part 3 - Director's interests in contracts other than as described in Part 4


Detail of contract                                                           -


Nature of interest                                                           -


Name of registered holder                                                    -

(if issued securities)
No. and class of securities to which interest relates                        -





Part 4  -  Director's interests in options or other rights granted by the
entities


Date of grant      *     Restricted Share Awards under the BHP Billiton Plc
                   Restricted Share Scheme (RSS)

                   -         274 914 on 8.11.01

                   *     Shares in BHP Billiton Plc under the BHP Billiton Plc
                   Co-Investment Plan (CIP)

                   -         23 420 committed shares and 71 431 matching shares
                   on 8.11.01


Period during      *     Restricted Share Awards under the RSS
which or date on
which exercisable  -    3 years from date of grant dependant upon company
                   performance with the potential of three performance periods

                   *     Shares under the CIP

                   -        subject to performance conditions, 80% of the
                   committed shares are exercisable 2 years from the date of
                   grant and 125% of the committed and matching shares are
                   exercisable 4 years from date of grant




Part 4  - Director's interests in options or other rights granted by the
entities

              (cont'd)


Total amount paid (if   *     Restricted Share Awards under the RSS
any) for the grant
                        -    Nil

                        *     Shares under the CIP

                        -         £3.0375 for each committed share

                        -         Nil for each matching share


Exercise price (if      Nil
fixed at time of grant)
or indication that
price is to be fixed at
time of exercise


Total number of         369 765 (RSS 274 914 and CIP 23 420 + 71 431) ordinary
securities over which   shares in BHP Billiton Plc (maximum)
options or other rights
held at the date of
this notice


Any additional          These ordinary shares in BHP Billiton Plc will be held
information             by Billiton ESOP Trustees Limited on behalf of the
                        director until they vest, the number vesting being
                        dependent upon the extent to which performance
                        conditions have been satisfied and certain timing
                        choices to be made by the director.  The shares are
                        purchased by Billiton ESOP Trustees Limited on an
                        opportunistic basis, with the balance being held by it
                        at any one time being sufficient to meet its
                        obligations to a number of employees of BHP Billiton
                        Plc under the Billiton Employee Ownership Trust.







Part 5  -  Contact details


Name of authorised officers responsible for making  Mr R V Taylor - BHP
this notification on behalf of the entities         Billiton Limited



                                                    Mrs M Taylor -  BHP
                                                    Billiton Plc

Contact details                                     Mr R V Taylor    Tel:
                                                    [phone]


                                                    Fax:    [phone]



                                                    Mrs M Taylor     Tel:
                                                    [phone]


                                                    Fax:    [phone]


BHP Billiton Limited ABN 49 004 028 077         BHP Billiton Plc Registration   
                                                number 3196209
Registered in Australia                         Registered in England and Wales
Registered Office: 600 Bourke Street Melbourne  Registered Office: 1-3 Strand   
Victoria 3000                                   London WC2N 5HA
                                                United Kingdom
Telephone [phone] Facsimile +61 3 9609  Telephone [phone]      
3015                                            Facsimile [phone]


             The BHP Billiton Group is headquartered in Australia