Our Bond states that 'our communities are our homes.' As well as succeeding as a business, we strive to succeed as a citizen of those communities in which we operate. Our community programs provide support for youth, the disadvantaged, the environment, the arts and cultural diversity. Each year we run hundreds of these programs, aimed at improving and enriching the lives of our fellow citizens. An example is our Australian Workplace Giving program, introduced during the year, which enables Australian employees to contribute financially to partner charities, supported by matched giving by the Company.

In addition to community programs and projects, we undertake community work in direct response to emergencies and disasters. This work is often based on our understanding of steel building materials and design. The provision of relief housing is a typical example.

TSUNAMI RELIEF

The worst natural disaster during 2004/05 was the Asia Tsunami. Donations to the Red Cross Asia Quake and Tsunami Appeal from BlueScope Steel and our employees totalled almost $1.3 million. Our Company made an initial donation of $200,000 in late December, and then announced we would match employee donations dollar for dollar. When the Appeal closed on January 31, direct employee donations had reached $532,000.

Aside from the Appeal, employees and the Company have contributed to the tsunami relief effort in a number of ways. BlueScope Steel's businesses in Asia have donated steel buildings and building materials, and individual employees in the region have donated food, clothing and other essential supplies, as well as giving their time to assist embassies and others in relief work.

Our Company has also worked with architects, designers and aid agencies, preparing designs for emergency aid buildings. BlueScope Water has manufactured and shipped over one hundred rainwater tanks from Australia to Banda Aceh, Indonesia. Many of the worst affected countries, such as Indonesia, Malaysia and Thailand, are countries in which we have operations, but thankfully, none of our employees were injured. BlueScope Steel continues to support the rebuilding effort.

WORKING WITH RED CROSS BlueScope Steel is involved with many community groups, including Red Cross. Over the last 12 months, we worked closely with Red Cross in a number of countries. The following letter acknowledges our involvement. Australian Red Cross offers sincere thanks to the staff and management of BlueScope Steel for your generous support over the last 12 months. Such support has helped to fund a range of vital domestic and international programs targeting vulnerable people, including those affected by the devastating Boxing Day Tsunamis. With the help of organisations like BlueScope Steel, Australian Red Cross raised $112 million towards our Asia Quake and Tsunami Appeal, of which $58 million has already been spent or committed. Such tremendous funding support enabled us to reach over one million people in affected areas with vital aid including food, medical assistance, safe water, shelter and clothing. Our relief efforts are now turning to rehabilitation and recovery. Australian Red Cross has so far identified 30 longer-term programs of assistance, such as the community housing project on Indonesia's Nias Island. There, the Red Cross is helping to build 254 houses, nine bridges, two schools, three clean water systems and one first aid centre. In the Maldives, a Red Cross tsunami waste and debris clearance project will benefit some 50,000 affected people across 70 islands. In addition to its support of our Tsunami Appeal, the staff and management of BlueScope Steel have provided ongoing support through workplace giving. Dollars raised through this initiative have helped to fund a range of community programs in Australia, including our Good Start Breakfast Club, which serves more than 300,000 healthy breakfasts annually to primary school kids in areas of greatest need around Australia. Australian Red Cross is proud to have been chosen as a participant in BlueScope Steel's Workplace Giving program and we thank all staff members who have generously supported our cause.