BHP BILLITON LIMITED today announced the Australian High Court has allowed
by consent its appeal against the majority decision of the Full Federal
Court, which was handed down in favour of the Australian Tax Office on 18
October 2000.
The dispute concerned the deductibility of financing costs paid to the
General Electric Company in connection with BHP Billiton Limited's
acquisition of the Utah Group in the early 1980's, and the validity of a
related assessment.
As a result of the High Court order, an amount of US$85 million (A$166
million) will be refunded to BHP Billiton Limited, together with associated
interest. This amount had previously been paid by BHP Billiton Limited and
recorded as a non-current asset, pending resolution of the dispute.
Further information can be found on our Internet site:
http://www.bhpbilliton.com
Australia
Dr. Robert Porter, Investor        United Kingdom/South Africa
Relations                          Michael Campbell, Investor & Media
Tel: + 61 3 9609 3540              Relations
Mobile: +61 419 587 456            Tel: +27 11 376 3360
email:                             Mobile: +27 82 458 2587
Robert.Porter@bhpbilliton.com      email:
                                   Michael.J.Campbell@bhpbilliton.com
Mandy Frostick, Media Relations
Tel: +61 3 9609 4157     Mobile:   Ariane Gentil, Manager Communications
+61 419 546 245                    Tel: +44 20 7747 3977
email:                             Mobile: + 44 7881 518 715
Mandy.J.Frostick@bhpbilliton.com   email: Ariane.Gentil@bhpbilliton.com
United States
Francis McAllister, Investor
Relations
Tel: +1 713 961 8625
Mobile: +1 713 480 3699
email:
Francis.R.McAllister@bhpbilliton.c
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