Corporate and Group

Coated and Building Products Australia

Coated and Building Products Asia

Hot Rolled Products

New Zealand Steel

Coated and Building Products North America

- Corporate name change to BlueScope Steel effective 17 November 2003.

- Company successfully acquires Butler Manufacturing on 27 April 2004 and creates new business segment.

- Strong Net Profit After Tax and Earnings per Share performance for second consecutive year.

- Continued focus on rewarding shareholders with total dividends announced for FY2004 of 40 cents per share, fully franked.

- Successful share buyback program concluded in March 2004 with 60 million shares purchased at an average cost of $4.70 per share.

- Record domestic sales of 1.86 million tonnes.

- Brownfield capacity programs continue at Western Port, Springhill and Service Centres.

- Western Port achieves record production performance for metal coating line number 4.

- A number of annual production records acheived in hot rolled, metal coating and painting at Springhill.

- Opened 8 new BlueScope Lysaght sites to increase geographic presence in metro and regional growth areas and more effectively service customers.

- Launched new BlueScope Water business offering products for rainwater harvesting and water infrastructure.

- Earnings before interest and tax reaches $100 million.

- New major investments announced to build our position in downstream markets in Vietnam, China and Thailand totalling more than A$500 million.

- Completed expansion to double paint line at Indonesia's metallic coating and painting facility to 50,000 tonnes per annum.

- Continued strong growth in steel roof trusses and pre-engineered buildings.

- Production records for slab (5.145 mt), iron-making (5.024 mt) and hot rolled coil (2.5 mt) at Port Kembla Steelworks.

- Enterprise Bargaining Agreement at Port Kembla concluded.

- North Star BlueScope Steel capitalises on strong pricing, good customer relationships and record production levels to improve earnings.

- Castrip® process moves closer to commercialisation with cumulative production of 100,000 tonnes at partner Nucor's Crawfordsville, Indiana plant in USA.

- Record domestic market sales of 261,000 tonnes due to strong economic conditions and market share gains.

- Paint line production increased by 11per cent over last year to reach a record of 52,000 tonnes annually.

- New kiln maintenance program introduced to reduce length of down-time and improve slab production in FY2005.

- Commissioning of expanded metal coating line continues.

- New management structure in place following acquisition of Butler Manufacturing.

- Specialty parts production at Galesburg to be relocated with facility closing mid-CY2005.

- Despatches for Buildings Group up strongly in May and June over same period in 2003.

- Order entries for Vistawall up 7 per cent in May and June over same period in 2003 but margins affected by increased cost of aluminium feedstock.

- Ability to access steel improves through BlueScope Steel plants and resources.