BHP Billiton Adds Board Member

BHP Billiton Chairman Don Argus announced the appointment of Carlos Cordeiro to the BHP Billiton Board, effective February 3, 2005. Mr. Cordeiro is a former Partner and Managing Director of The Goldman Sachs Group, Inc. Since his retirement he has continued as an Advisory Director of the firm and as Vice Chairman of Goldman Sachs (Asia).

Announcing the appointment, Mr. Argus said that Mr. Cordeiro would be a valuable addition to the Board, bringing with him more than 20 years experience in providing strategic and financial advice to corporations, financial institutions and governments around the world.

"Mr. Cordeiro's experience ideally complements the skill base of the BHP Billiton Board and we are pleased to have secured a director with such an outstanding financial and strategic pedigree," Mr. Argus said.

Mr. Cordeiro, who resides in Hong Kong, held many leadership positions during his 12-year career at Goldman Sachs. He began his career in 1980 with Manufacturers Hanover Trust Company in New York then moved to Credit Suisse First Boston in London to focus on derivatives and capital markets before joining Goldman Sachs to help lead its international expansion in 1990.

Mr. Cordeiro's career has spanned the public and private sectors. He was the senior banker to the World Bank and the multi-lateral regional development banks. He has worked closely with the governments of several nations, including Britain and Italy during the post-Exchange Rate Mechanism crisis and in the build up to the European Union's adoption of a common currency. He also led the team that brought post-apartheid South Africa to the international capital markets in 1994.

Born in India, Mr. Cordeiro became a naturalized U.S. citizen in 1981. He received his AB and an MBA from Harvard University. He currently serves on Harvard University's Asia Centre Advisory Committee and the Harvard College Board of Overseers' Visiting Committee.

Mr. Argus said that Mr. Cordeiro's appointment would bring the number of BHP Billiton directors to eleven. The Group's established process of continually reviewing the mix of skills and competencies of directors will continue to ensure that the Board is made up of members best able to promote shareholder interests and effectively govern the Group.

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