Federal Court Decision

Broken Hill Proprietary Company Limited
23 November 1999

Ref: 55/99
                      FEDERAL COURT DECISION ON TAX CASE                      

The Broken Hill Proprietary Company Limited (BHP) welcomed today's Federal
Court ruling in the Company's favour regarding a dispute with the Australian
Taxation Office.

The dispute concerned the deductibility of financing costs paid to General
Electric Company in connection with BHP's acquisition of the Utah Group in the
early 1980s. The Australian Taxation Office sought to recover from BHP a
disputed tax amount of about $A88 million plus $112 million in interest
charges.

The Company disclosed a total contingent liability of A$200 million, as at 31
May 1999, in the1999 annual report. Of the total amount, $79 million had
previously been paid and was accounted for as a non-current asset in the
financial statements, pending finalisation of the litigation.

The Company will be entitled to a refund of $79 million plus after tax
interest of approximately A$29 million following conclusion of the matter.



FOR FURTHER INFORMATION CONTACT:

Media Relations:       Mandy Frostick
                       Manager Media Relations
                       BHP Group - Melbourne
                       Tel:   [phone] (bh)
                              [phone] (ah)
                              [phone] (mobile)

Investor Relations:    Dr Robert Porter
                       Vice President Investor Relations - Melbourne
                       Tel:   [phone]