Rio Tinto notes BHP Billiton’s pre-conditional offer

6 February 2008

Rio Tinto notes the announcement by BHP Billiton of its intention to make offers to acquire the whole of the issued share capital of Rio Tinto plc at an exchange ratio of 3.4 BHP Billiton shares per Rio Tinto plc share, consisting of 80% BHP Billiton plc shares and 20% BHP Billiton Limited shares, and the whole of the issued share capital of Rio Tinto Limited at an exchange ratio of 3.4 BHP Billiton Limited shares per Rio Tinto Limited share.

The offers are subject to pre-conditions relating to merger control and regulatory approvals in a number of jurisdictions.

Rio Tinto’s chairman Paul Skinner said: “The Boards of Rio Tinto will consider the terms of the proposal carefully in the light of all circumstances and will make a further statement once they have completed this assessment.  In the meantime, the Boards encourage shareholders not to take any action.”