BHP BILLITON SIGNS GAS SALE AND PURCHASE AGREEMENT WITH TXU ELECTRICITY         
  BHP BILLITON Plc                                                                
  JSE CODE: BIL                                                                   
  ISIN CODE:  GB0000566504                                                        
  BHP BILLITON SIGNS GAS SALE AND PURCHASE AGREEMENT WITH TXU ELECTRICITY         
  BHP Billiton, together with its joint venturer Esso Australia Resources Pty Ltd,
  today announced the signing of a substantial gas sale and purchase agreement    
  with TXU Electricity Ltd (TXU).                                                 
  The agreement is for the sale and purchase of 825 petajoules gross of Bass      
  Strait gas to TXU in the period 2004 to 2017. First gas sales are scheduled to  
  commence on 1 January 2004.                                                     
  "This is a significant milestone for the Bass Strait joint venture involving one
  of the largest sales of Gippsland gas since long-term supply arrangements were  
  entered into with the Victorian Government in the late 1960s," said Philip      
  Aiken, President and Chief Executive Officer for BHP Billiton Petroleum.        
  Currently, the majority of gas entering the South Eastern Australia gas market  
  is supplied under a long-term contract between BHP Billiton/Esso and the        
  previously State Government owned Gascor. This contract is due to expire towards
  the end of the decade.                                                          
  "The agreement is consistent with BHP Billiton"s gas marketing strategy which is
  to increase our market diversification and secure new gas markets and volumes," 
  Mr Aiken said.                                                                  
  In the 34 years since the BHP Billiton/Esso Bass Strait joint venture began     
  production in October 1969, more than 3.5 billion barrels of oil and 5 trillion 
  cubic feet of gas have been produced. Current production is around 120 thousand 
  barrels per day of crude and condensate, and 570 million cubic feet per day of  
  gas.                                                                            
  BHP Billiton and Esso are also continuing with exploration and production       
  activity in the Gippsland Basin. In October the joint venture announced that it 
  is planning to commence what is expected to be the largest combined exploration 
  and production drilling program in the Gippsland Basin since the 1980s.         
  BHP Billiton has a 50 percent interest in the Bass Strait oil and gas project   
  with joint venturer Esso Australia Resources Pty Ltd (50 percent, operator).    
  Further information on BHP Billiton can be found on our Internet site:          
  http://www.bhpbilliton.com                                                      
  Australia                             United Kingdom                            
  Andrew Nairn, Investor Relations      Mark Lidiard, Investor & Media Relations  
  Tel: +61 3 9609 3952                  Tel: +44 20 7802 4156                     
  Mobile: +61 408 313 259                                                         
  email:                                email:                                    
  Andrew.W.Nairn@bhpbilliton.com        Mark.Lidiard@bhpbilliton.com              
  Tania Price, Media Relations          Ariane Gentil, Media Relations            
  Tel: +61 3 9609 3815                  Tel: +44 20 7802 4177                     
  Mobile: +61 419 152 780                                                         
  email:                                email:                                    
  Tania.Price@bhpbilliton.com           Ariane.Gentil@bhpbilliton.com             
  United States                         South Africa                              
  Francis McAllister, Investor          Michael Campbell, Investor & Media        
  Relations                             Relations                                 
  Tel: +1 713 961 8625                  Tel: +27 11 376 3360                      
  Mobile: +1 713 480 3699               Mobile: +27 82 458 2587                   
  email:                                email: Michael.J.Campbell@bhpbilliton.com 
  Francis.R.McAllister@bhpbilliton.com                                            
  Date: 17/12/2003 12:39:04 PM Produced by the JSE SENS Department