Re WMC Resources

BHP Billiton Limited 04 April 2005 BHP Billiton Limited is issuing this announcement to fulfil disclosure obligations arising from its secondary listing on the London Stock Exchange. The text of this release is identical to that issued by BHP Billiton Plc earlier. Date 4 April 2005 Number 14/05 BHP BILLITON ANNNOUNCES FOREIGN INVESTMENT REVIEW BOARD APPROVAL OF BID FOR WMC RESOURCES LTD BHP Billiton advises that the Australian Treasurer has confirmed that there are no objections under the Australian Government's foreign investment policy to BHP Billiton's acquisition of WMC Resources Ltd. A copy of the Treasurer's announcement is attached. The Treasurer's confirmation is subject to certain conditions which BHP Billiton has agreed to observe. As the conditions are acceptable to BHP Billiton, BHP Billiton will free its offer of the condition set out in clause 5.1(b) of the Bidder's Statement. This is the second condition to have been removed. BHP Billiton Chief Executive Officer, Chip Goodyear, welcomed the announcement by the Treasurer of the Government's approval of its bid. The offer is $7.85 for each WMC Resources Ltd share and the closing date* of the offer is 7.30 pm (Melbourne time) on 6 May 2005. *This date is indicative only and may change as permitted by the Australian Corporations Act 2001 (Cth) Further information on BHP Billiton can be found on our Internet site: http:// www.bhpbilliton.com Australia United Kingdom Jane Belcher, Investor Relations Mark Lidiard, Investor & Media Relations Tel: +61 3 9609 3952 Mobile: +61 417 Tel: +44 20 7802 4156 031 653 email: Jane.H.Belcher@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com Tania Price, Media Relations Ariane Gentil, Media Relations Tel: +61 3 9609 3815 Mobile: +61 419 Tel: +44 20 7802 4177 152 780 email: Tania.Price@bhpbilliton.com email: Ariane.Gentil@bhpbilliton.com United States South Africa Michael Campbell, Investor & Media Relations Tel: +1 713 599 6100 or +44 20 7802 Tel: +27 11 376 3360 Mobile: +27 82 458 4031 2587 email: Mark.Lidiard@bhpbilliton.com email: Michael.J.Campbell@bhpbilliton.com Further Information for U.S. holders BHP Billiton has filed the Bidder's Statement with the U.S. Securities and Exchange Commission (SEC) under cover of Form CB. Investors and holders of WMC Resources securities are strongly advised to read the Bidder's Statement and any other relevant documents filed with the SEC, as well as any amendments and supplements to those documents, because they will contain important information. Investors and holders of WMC Resources securities may obtain free copies of the informational document (when available), as well as other relevant documents filed with the SEC, at the SEC's website at www.sec.gov. WMC Resources has issued a target's statement in connection with the offer which investors and holders of WMC Recourses securities are strongly advised to read. This communication is for information purposes only. It shall not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities of WMC Resources. The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. NO. 025 Treasurer www.treasurer.gov.au FIRB: BHP BILLITON GROUP/WMC Exercising powers under the Foreign Acquisitions and Takeovers Act 1975 (the Act), I have decided that the Australian Government has no objection to the BHP Billiton Group's (BHPB) proposed acquisition of all the issued shares of WMC Resources Limited (WMC) provided that BHPB complies with the conditions set out in Attachment A. These conditions are in addition to previous conditions imposed under the Act, all of which remain in place. CANBERRA 4 April 2005 Contact: David Alexander 02 6277 7340 ATTACHMENT A BHPB's undertakings, observance of which is a condition under Section 25 (1A) of the Foreign Acquisitions and Takeovers Act 1975 (the Act): 1. BHPB will abide by all Australian federal and state laws and regulations relating to the mining and export of uranium; 2. BHPB will undertake prior consultations with the Department of Industry, Tourism and Resources on the terms of any and all marketing arrangements it enters into with third parties in respect of uranium, which will be subject to all regulatory requirements imposed as part of the Australian Government's regulations and disclosure rules relating to uranium sales out of Australia. This condition will have effect indefinitely, subject to amendment of the Act or any revocation or amendment by the Treasurer. This information is provided by RNS The company news service from the London Stock Exchange
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