GRAHAM KRAEHE, AO

Chairman (Independent),
Age 62, BEc
Director since: May 2002

Extensive background in manufacturing and was Managing Director and Chief Executive Officer of Southcorp Limited from 1994 to February 2001. As at the date of this report, he is the Chairman of the National Australia Bank, appointed on August 1997. He has announced his retirement from the bank effective September 2005. A Board member of Djerriwarrh Investments Limited since July 2002, the Innovation Economy Advisory Board for Victoria since December 2002 and a member of the Chairman's Panel of the Business Council of Australia. Mr Kraehe was a non-executive director of News Corporation Limited from January 2001 until April 2004 and Brambles Industries Limited from December 2000 until March 2004.

He brings skills and experience in manufacturing management and in companies with substantial and geographically diverse industrial operations. Mr Kraehe's experience with a wide range of organisations is relevant for his role as Chairman of the Board.

TAN YAM PIN

Non-Executive Director (Independent), Age 64, BEc (Hons), MBA, CA
Director since: May 2003.

A chartered accountant by profession, formerly Managing Director of Fraser and Neave Group, one of South-East Asia's leading public companies, and Chief Executive Officer of its subsidiary company, Asia Pacific Breweries Limited. A Member of the Public Service Commission of Singapore since 1990. Chairman of PowerSereya Limited (Singapore) and is also a member of the Supervisory Board of The East Asiatic Company Limited A/S (Denmark), Keppel Land Limited (Singapore) Singapore Post Limited, Great Eastern Holdings Limited, CISCO Security Pte. Ltd, and International Enterprise Singapore. He resigned as director of FHTK Holdings Ltd (Singapore) in 2004.

Mr Tan resides in Singapore. He brings extensive knowledge of Asian markets, an area of strategic importance to BlueScope Steel. His financial and leadership skills complement the skills on the Board.

DIANE GRADY

Non-Executive Director (Independent), Age 57, BA (Hons), MA (Chinese Studies), MBA
Director since: May 2002.

A full time non-executive director of various companies since 1994. Currently a director of Woolworths Limited since July 1996 and of Wattyl Limited since December 1994. She is Governor of Ascham School. Formerly, a Trustee of the Sydney Opera House, a director of the Australian Institute of Management (New South Wales). She was a director of Lend Lease Corporation from June 1994 until July 2002.

As a former partner with McKinsey & Co, Ms Grady spent 15 years consulting to clients in a broad range of industries on strategic and organisational issues. In Australia, led the firm's Marketing, Retailing and Consumer Goods practice and was a global leader of McKinsey's Change Management Centre.

RON MCNEILLY

Deputy Chairman (Independent),
Age 62, BCom, MBA, FCPA
Director since: May 2002

Deputy Chairman of the Board with over 30 years' experience in the steel industry. He joined BHP in 1962, and until December 2001 held various positions with the BHP (now BHP Billiton) Group, including Executive Director and President BHP Minerals, Chief Operating Officer, Executive General Manager and was Chief Executive Officer BHP Steel until 1997. The latter role developed his knowledge of many of the businesses comprising BlueScope Steel today.

He is Chairman of Melbourne Business School Limited, Chairman of Worley Parsons Limited and a director since October 2002, and a director of Alumina Ltd since December 2002. Vice President of the Australia Japan Business Cooperation Committee and a member of the Council on Australia Latin America Relations. A director of Ausmelt Limited from September 2002 until November 2004.

KIRBY ADAMS

Managing Director and Chief Executive Officer, Age 49, BSc (Industrial Eng), MBA
Director since: May 2002.

Appointed Managing Director and Chief Executive Officer of BlueScope Steel Limited in July 2002. Joined the BHP group in 1995 and held various positions including President BHP Services, Group General Manager and Chief Executive Officer BHP Service Companies, Corporate General Manager Planning and Development and President BHP Steel since February 2000.

Vice-Chairman of the International Iron and Steel Institute since October 2004 and is a member of the Business Council of Australia.

PAUL RIZZO

Non-Executive Director (Independent), Age 60, BCom, MBA
Director since: May 2002.

A Director of National Australia Bank Limited since September 2004. A member of the Advisory Board of Mallesons Stephen Jaques, and Chairman of Foundation for Very Special Kids. Formerly Chief Executive Officer and Dean, director and Professorial Fellow of the Melbourne Business School. Held positions as Group Managing Director - Finance and Administration of Telstra Corporation Limited, Chief General Manager - Retail Banking Commonwealth Bank of Australia, Chief Executive Officer of State Bank of Victoria and a range of senior executive positions at Australia and New Zealand Banking Group Limited. His extensive financial experience is valuable to the Board and in his role as Chairman of the Audit and Risk Committee.

KEVIN MCCANN, AM

Non-Executive Director (Independent), Age 64, BA LLB (Hons), LLM
Director since: May 2002

A non-Partner Chairman of Partners until the end of 2004 of Allens Arthur Robinson, a national law firm. A partner of the firm from 1970 until June 2004, specialising in mergers and acquisitions, mineral and resources law and capital markets transactions.

Currently Chairman of Healthscope Limited since March 1994, Origin Energy Limited since February 2000, Triako Resources Limited since April 1999, and the Sydney Harbour Federation Trust. Lead independent director of Macquarie Bank Limited and appointed as director in December 1996, member of the Defence Procurement Advisory Board and has served on the Boards of Pioneer International Limited, Ampol Limited and the State Rail Authority of New South Wales. A member of the Takeovers Panel and a consultant to Deloitte Touche Tohmatsu.

Brings extensive legal expertise, commercial experience as a director of a number of major listed companies and experience in corporate governance to the Board.