Re Directorate

BHP Limited
4 June 2001


Release Time     IMMEDIATE

Date          4 June 2001

Number     49/01


                             COMPANY ANNOUNCEMENT

BHP Ltd today announced that Mick Davis, currently Executive Director Finance
of Billiton Plc had resigned from that company to take up a new position as
Chief Executive of Xstrata AG.

As a result and subject to regulatory approval, Chip Goodyear currently Chief
Financial Officer of BHP will assume the role of Chief Development Officer for
the merged BHP Billiton and remain responsible for the finance function until
the appointment of a new CFO.

Following the appointment of a new CFO, Mr Goodyear will be based in London
and the CFO will be based in Melbourne.

BHP Managing Director & CEO Paul Anderson said: 'While we are sorry that Mr
Davis will not be joining the new BHP Billiton, our integration plans for the
finance and development functions, as well as the minerals division, are well
advanced and we do not expect any significant change as a result of Mr Davis'
decision.'

The Group will undertake an international search to review both internal and
external candidates for the CFO position. Mr Davis will see through his
responsibilities as part of the merger. He will not now take up his position
as a Director of BHP Billiton Ltd, should the merger receive regulatory
approval.

A separate announcement will be issued by Billiton Plc.

                                    * * *

Further information can be found on our internet site: http://www.bhp.com

Contact:

MEDIA RELATIONS
Mandy Frostick, Manager Media Relations
Ph: 61 3 9609 4157 / Mob: [phone]

INVESTOR RELATIONS
Andrew Nairn, Senior Business Analyst
Ph: 61 3 9609 3952 / Mob: [phone]