Credit Facility

Broken Hill Proprietary Co Ld
27 March 2000


BHP SUCCESSFULLY CLOSES US$1.2 BILLION GLOBAL REVOLVING CREDIT FACILITY

The Broken Hill Proprietary Company Limited (BHP) successfully closed its
latest debt financing facility, a US$1.2 Billion Global Revolving Credit
Facility, today Monday 27 March 2000.

The new facility forms BHP's primary bank credit arrangement and will be the
cornerstone of the Company's overall funding strategy.  It consolidates into
one facility a number of existing standby and revolving facilities and also
replaces a US$800 Million Note Issuance Facility, providing  dedicated back-up
support for BHP's Domestic, US and Euro commercial paper programs.

The facility breaks new ground in providing in one facility the multi-currency
and multi-jurisdictional needs of BHP and its  subsidiaries around the world.

BHP Chief Financial Officer Chip Goodyear said: 'The transaction provides a
flexible facility to meet a range of objectives and has also allowed us to
rationalise other financing arrangements. Given our global operations, it was
important to have the facility available in various jurisdictions and
currencies. 

'Building partnerships with our stakeholders is an important component of
BHP's strategy. This Global Revolver is one of the examples of how we are
doing this to meet the funding requirements of our business,' he said.
The facility was jointly arranged by Citibank, NA and National Australia Bank
Limited. The agent is  Citibank, NA.

The financiers are: ABN AMRO Australia Limited, ANZ Investment Bank, Bank One
NA, Banque Nationale de Paris, Barclays Capital, Bank of Tokyo-Mitsibishi
(Australia) Ltd, The Chase Manhatten Bank, Citibank, NA, Commonwealth Bank of
Australia, Credit Suisse First Boston, Deutsche Bank AG, HSBC Bank Plc, IBJ
Australia Bank Limited, Morgan Guaranty Trust Co, National Australia Bank
Limited, RBC Dominion Securities, UBS Australia Limited and Westpac Banking
Corporation.

Contact: 
MEDIA RELATIONS:       Mandy Frostick 
                       Manager Media Relations - Melbourne
                       Ph:        [phone]
                       Mob:       [phone]

INVESTOR RELATIONS:    Rob Porter 
                       Vice President Investor Relations - Melbourne
                       Ph:        [phone]
                       Mob:       [phone]