Directorate/New Company

Broken Hill Proprietary Co Ld
5 June 2000


Date            5 June 2000
Number          49/00   
 

CHAIRMAN AND NAME OF NEW STEEL COMPANY ANNOUNCED

The Broken Hill Proprietary Company Limited (BHP) today announced the Chairman
and name of the new long products steel company scheduled to be spun-out later
this year.  A news release detailing the announcements is attached.


Contact:
MEDIA RELATIONS:                    INVESTOR RELATIONS:     
Mandy Frostick                      Robert Porter
Manager Media Relations             Vice President Investor Relations
Ph:     [phone]             Ph:     [phone]
Mob:    [phone]             Mob:    [phone]

Michael Buzzard                     
Senior Media Relations Advisor                 
Ph:     [phone]             
Mob:    [phone]



Date            5 June 2000
Number          01/00

CHAIRMAN AND NAME OF NEW STEEL COMPANY ANNOUNCED

The Broken Hill Proprietary Company Limited (BHP) today announced Peter 
Smedley, Group Managing Director and Chief Executive Officer Colonial Group 
will be appointed Chairman of OneSteel Limited, the new long products steel 
company scheduled to be spun-out later this year.

Mr Smedley said: 'I am delighted to accept this appointment to be Chairman-
Elect of OneSteel and to join Bob Every and his team as we drive towards the 
planned stock exchange listing later this year.  OneSteel is an exciting 
Company and will have a great future.

'I will be working closely with Bob Every, and expect to have the full Board 
of OneSteel in place shortly.  The Board will have an appropriate blend of 
experience and expertise, and be committed to maximising shareholder value.  
It will include two Executive Directors:  Bob Every, OneSteel Managing 
Director and Chief Executive Officer and Bernard Carrasco, OneSteel Chief 
Financial Officer.'

Dr Every said: 'I am delighted to have Peter Smedley as our Chairman-Elect, 
given his outstanding track record and broad experience.  My team and I are 
looking forward to working with Peter and the new Board to manage the 
business whilst completing the spin-out and listing'.

'The name OneSteel encapsulates our strategy and commitment to being 
Australia's premier steel manufacturing and distribution company.  We have 
the resources, the people, the distribution network and the product range to 
build the business and maximise value for our various stakeholders.'

Dr Every said: 'Today is a significant milestone in the journey towards our 
independence.  We are now focused on the key steps which are ahead of us, 
culminating in our stock exchange listing which is planned to be completed 
before the end of the year.'


Contact:
David Goodwin                           Mandy Frostick
Vice President External Affairs         Manager Media Relations
OneSteel                                BHP
Ph:     [phone]                  Ph:     [phone]
Mob:    [phone]                    Mob:    [phone]



Fact Sheet 1

SMEDLEY, Peter J

Chairman-Elect, OneSteel Limited, June 2000

CAREER DATA :

Colonial Group 1993 -
Group Managing Director & Chief Executive Officer

Mr Smedley is Chief Executive Officer of the Colonial Group and Chairman of 
the State Bank of New South Wales.  At Colonial he oversees funds under 
management worth $100 billion and directs more than 20,000 staff and field 
agents.  

Chairman :      
Care Australia Corporate Council
       State Bank of New South Wales
       Colonial Investment Management Limited 
       Colonial Finance Limited
       Colonial (UK) Limited
       CMG Asia Ltd
       Colonial Mutual Life Australia

Deputy Chairman :
       Newcrest Mining Limited

Councillor/Member/Director :
       Business Council of Australia
       BCA National Gallery of Victoria
       President's Council Art Gallery of New South Wales
       Australian Davos Connection Ltd

Shell Australia :
       Executive Director, Downstream Oil & Chemicals (1990-92)
       Executive Director, Resources (1986-90)

       Executive Chairman  :
       Drayton Coal Pty Ltd 1988-90
       Callide Coalfields Pty Ltd 1988-90
       Theodore Coal Pty Ltd 1988-90
       Capricorn Coal Management Pty Ltd 1987-90
       German Creek Coal Pty Ltd 1987-90

       Director  :
       Shell Co of Aust Ltd 1986-92
       Shell Chemicals (Aust) Pty Ltd
       Shell Refining (Aust) Pty Ltd
       Shell Finance (Aust) Pty Ltd
       Neptune Oil Co Pty Ltd 1990-92

       Worsley Alumina Pty Ltd 1987-90
       Billiton Aust. Gold Pty Ltd (Boddington) 1986-90
       Austen & Butta Ltd 1986-90

       Area Co-ordinator Central and South America Shell International 1982-86
       Shell International Petroleum Co., London

       Joined Shell Company of Australia Limited in 1963

Director :

       Australian Mining Industry CI 1988-90, Australian Mining Indust. 
        Res Assn Ltd 1986-90
       Lloyds Register of Shipping (Aust)1990-93
       Alumina Development Council 1986-90

Personal :
Born:       2 January 1943.
Education:  RMC Duntroon; BComm University of WA; MBA University of Melbourne.
Spouse:     Christine
Children:   3 Sons 2 Daughters
Recreation: Sport, theatre, reading.


Fact Sheet 2

Business Structure

OneSteel's Managing Director & CEO, Bob Every last month announced his
Leadership Team for the new business. 

Effective from 1 May 2000, this organisation change underpins a deliberate
strategy to seamlessly integrate OneSteel's various production, manufacturing
and distribution operations into a new single business.

In Distribution, we have combined already strong product-to-market channels
within Reinforcing Products and Tubemakers Merchandising under a single
management structure, creating opportunities to increase efficiency and
further strengthen OneSteel's presence in the market. 

OneSteel Market Mills, headquartered in Newcastle, is Australia's leading
manufacturer and supplier of a comprehensive range of steel rod, bar, wire,
wire rope, pipe, tube and structural steels, supplied either through the
OneSteel Distribution channel or direct to its own customer base. 

The structure also recognises the critical and strategic role of Whyalla
Steelworks as a low cost supplier of steel. 
 
OneSteel has approximately 7000 employees situated at its sites throughout
Australia and New Zealand, an annual turnover of $2.8 billion and over 30,000
customers.