BILLITON PLC
BHP Limited and Billiton Plc announce that the implementation of the merger
between the two companies is expected to take effect on 29 June 2001.
BHP also announces that the record date for the issue of BHP Billiton
Limited bonus shares to eligible BHP shareholders is expected to be Thursday
5 July 2001:
*  to the extent that the Securities Clearing House Rules apply, on the
basis of a record date of Thursday 5 July 2001; and
*  otherwise, on the basis of shareholdings registered and transfers lodged
at 5.00 pm (Melbourne time) on Thursday 5 July  2001.
The last day that BHP shares will trade on a cum bonus share basis will be
Thursday 28 June 2001.  As such, BHP Billiton Limited shares purchased after
28 June 2001 will not be eligible for the bonus share entitlement.
Allotment of shares to eligible shareholders will occur within the required
10 business day period following the record date.
As advised at the time of the merger announcement, each eligible BHP
shareholder will receive 1.0651 BHP Billiton Limited shares for every
existing BHP share held.  The bonus issue is to ensure that the economic
interest of each BHP Billiton Limited share and each BHP Billiton Plc share
is equivalent following implementation of the merger.  It can be expected
that there will be an appropriate downward adjustment in the BHP Billiton
Limited share price to reflect the higher number of shares on issue.
ends
ENQUIRIES:
BHP Limited
Australia (media):
Mandy Frostick, Manager Media Relations, BHP Limited
Tel:     +61 3 9609 4157                   Mobile: +61 419 546 245
Fax:     +61 3 9602 4121                   email: frostick.mandy.mj@bhp.com
Australia (investor relations):
Robert Porter, Vice President Investor Relations, BHP Limited
Tel:    + 61 3 9609 3540                        Mobile: +61 419 587456
Fax:    + 61 3 9609 3006
United States  (investor relations):
Francis McAllister, Vice President Investor Relations, BHP Limited
Tel:    +1 713 961 8625                 Mobile: +713 480 3699
                                        email: mcallister.francis.fr@bhp.com
Billiton Plc
London (media and investor relations):
Marc Gonsalves, General Manager Corporate Affairs, Billiton
Tel:    +44 20 7747 3956                      Mobile: +44 7768 264 950
Fax:    +44 20 7747 3914                      email: mgonsalves@Billiton.com
Johannesburg (media and investor relations):
Michael Campbell, Manager Corporate Affairs, Billiton
Tel:    +27 11 376 3360                 Mobile: +27 82 458 2587
Fax:    +27 11 376 3362
Michael Campbell
Manager Corporate Affairs
Billiton
Tel:  +27 11 376-3360
Fax: +27 11 376-3362
Mobile: +082 458 2587
Website: http://www.billiton.com