BlueScope Steel Announces Management And Operational Changes For Butler North America.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--April 28, 2004

BlueScope Steel (ASX: BSL) today announced a number of management and operational changes to its North American business, following completion of the company's acquisition of Butler Manufacturing yesterday.

Managing Director and CEO Kirby Adams said, "The announcements we are making today demonstrate our determination to turn around the financial performance of our new North American Butler Buildings business and realize the benefits of the acquisition for our shareholders as soon as possible."

New Executive Appointments and Changes in North America 

Mr. John J. Holland, formerly Chairman of the Board and Chief Executive Officer of Butler Manufacturing, will assist Mr. Adams, Mr. Mike Courtnall, President of Asian Building and Manufacturing Markets, and Mr. Lance Hockridge, President of Industrial Markets, in identifying and developing opportunities to leverage the Butler product offer in Asia and Australia.

The following executives will report to Mr. Hockridge, who has executive responsibility for BlueScope Steel's North American businesses:

-- Mr. Thomas W. Harris will continue in his role as President of

Vistawall. Vistawall designs, manufactures, and markets

architectural aluminum storefront and engineered curtainwall

systems, skylights, translucent roof and wall systems, and

window systems.

-- Mr. Patrick Finan has been appointed President of Butler

Buildings North America with executive responsibility for the

Butler Buildings business in North America. Mr. Finan was

formerly President of Steelscape Inc., a West Coast-based

manufacturer of cold rolled, metallic coated and painted

steels for the United States and Canadian building and

construction industry. In his new position, he will focus on

improving the financial performance of the Buildings business

and the development of new capabilities, customers, and

markets. Mr. Finan will commence his new role May 3, 2004.

-- Mr. Ronald E. Rutledge, formerly Chief Operating Officer and

President of the Buildings Group for Butler Manufacturing, has

been appointed President of Developing Businesses. Mr.

Rutledge will focus on the successful transition of the

Buildings business into the BlueScope Steel group and on

developing the growth opportunities which will result from the

merger.

A new position of vice president, Business Services, has been created to head a Business Services group encompassing corporate functions located in Kansas City. The Kansas City corporate office will transition from a listed company head office to a shared services center. Mr. Larry C. Miller will act as Vice President, Business Services, on an interim basis, prior to leaving the company June 18, 2004.

The team established to direct the significant work relating to the integration of the two companies will be led by Mr. Greg Robinson as Executive Director of Integration. This is an interim position and will be based in Dallas, Texas.

Galesburg Manufacturing Plant Expected to Close

The Company also announced today that the high-cost Butler Manufacturing plant at Galesburg, Ill., is expected to close before the end of calendar year 2005.

This decision is based on analysis previously undertaken by Butler, which found that the cost of operating the plant is competitively unsustainable. The due diligence conducted by BlueScope Steel, together with subsequent discussions with Butler management, has found nothing to contradict the initial analysis.

About BlueScope Steel Limited (ASX: BSL)

BlueScope Steel (formerly known as BHP Steel) is the leading steel producer in Australia and New Zealand, supplying the majority of the flat steel products sold in these markets. BlueScope Steel's principal customers are in the building and construction, automotive, packaging, and general manufacturing industries. The Company's steelworks at Port Kembla is Australia's largest and one of the world's lowest cost producers of hot rolled coil. Steel rolling, coating, and painting plants are located in Australia, New Zealand, Thailand, Malaysia, and Indonesia, and the company has a network of rollforming facilities across the Asia Pacific region that is unmatched by any other steel company. BlueScope Steel also has a 50 percent interest in a steel mini-mill in Delta, Ohio, USA, and, on April 27, 2004, completed the acquisition of Butler Manufacturing, with operations in North America and China, creating a strong, global steel building components and pre-engineered buildings business.

For further information about BlueScope Steel Limited: www.bluescopesteel.com