A$3 Billion Domestic Medium Term Note Program

BROKEN HILL PROPRIETARY COMPANY LIMITED
25 October 1999



BHP FINANCE LAUNCHES A$500 MILLION DOMESTIC BOND ISSUE

BHP Finance Limited, a wholly owned subsidary of The Broken Hill Proprietary
Company Limited (BHP), today launched an inaugural issue from its newly
established A$3 billion domestic medium term note program.

The inaugural A$500 million domestic bond issue has a maturity of 15 July 2005
and follows a successful road-show in Sydney, Brisbane and Melbourne last
week.  

Proceeds from the issue will be used to restructure the Company's existing
debt portfolio.

Westpac and Warburg Dillon Read are lead managers to the issue.  Commonwealth
Bank, Deutsche Bank and National Australia Bank are co-managers to the issue.

For information contact:       Joe Czyzewski
                               Treasurer
                               The Broken Hill Proprietary Company Limited
                               Tel:       [phone]       (bh)

                               Peter Bloomfield
                               Director Capital Markets
                               Westpac Banking Corporation
                               Tel:       [phone]       (bh)

                               Nicholas Ross
                               Associate Director - Origination
                               Warburg Dillon Read
                               Tel:       [phone]       (bh)