Date 4 July 2001 Number 02/01 BHP BILLITON OFFER FOR DIA MET EXPIRES BHP Billiton Limited (BHP Billiton) today announced that its offers to acquire all of the Class A subordinate voting shares (Class A shares) and the Class B multiple voting shares (Class B shares) of Dia Met Minerals Ltd. (Dia Met), for C$21.00 per share had expired. At the expiry of the offers, approximately 98.6 per cent of the Class A shares and 88.7 per cent of the Class B shares had been deposited, including shares previously taken up and paid for under the offers. All conditions of the offers, including a minimum acceptance of 75 per cent of both classes of shares, have been met. BHP Billiton now intends to exercise its statutory right to compulsorily acquire the remaining Class A shares, having secured over 90 per cent of this class. The Company may also seek a meeting of Dia Met shareholders to consider a 'subsequent acquisition transaction', whereby BHP Billiton will acquire (at C$21.00 per share) all Class B shares not deposited under the offers. Acquisition of Dia Met, and the additional interest in the Ekati Diamond Mine (TM), is strategically important as it ensures that BHP Billiton will continue to have access to a larger supply of rough diamonds to support its polished diamond branding initiatives. BHP Billiton will account for its ownership of Dia Met from 30 June 2001. Based on acceptances to its offers, BHP Billiton will be entitled to an economic interest in Dia Met of 92 per cent, following the compulsory acquisition of the Class A shares. Dia Met is a publicly traded Canadian mineral exploration and development company with a primary focus on diamonds. The company's principal asset is a 29 per cent joint venture interest in the Ekati Diamond Mine (TM), Canada's first commercial diamond mine. BHP Billiton is the operator of the Ekati Diamond Mine (TM) and owns a 51 per cent joint venture interest. Mr. Charles Fipke and Mr. Stewart Blusson own 10 per cent of the joint venture respectively. Further information can be found on our Internet site: http://www.bhpbilliton.com ENQUIRIES: Australia Dr. Robert Porter, Vice President Investor & Media Relations Tel: +61 3 9609 3540 Mobile: +61 419 587 456 email: Robert.Porter@bhpbilliton.com Mandy Frostick, Manager Media Relations Tel: +61 3 9609 4157 Mobile: +61 419 546 245 email: Mandy.J.Frostick@bhpbilliton.com Canada Graham Nicholls, Vice President External Affairs Tel: 1 604 605 8666 ext 241 Mobile: 1 604 818 0997 Fax: 1 604 681 5736 email: G.Nicholls@bhpbilliton.com United Kingdom Marc Gonsalves, Vice President Investor Relations & Communication Tel: +44 20 7747 3956 Mobile: +44 7768 264 950 Fax: +44 20 7747 3914 email: Marc.Gonsalves@bhpbilliton.com South Africa Michael Campbell, Vice President Investor & Media Relations Tel: +27 11 376 3360 Mobile: +27 82 458 2587 Fax: +27 11 376 3362 email: Mike.Campbell@bhpbilliton.com United States Francis McAllister, Manager Investor Relations Tel: +1 713 961 8625 Mobile: +1 713 480 3699 email: Francis.R.McAllister@bhpbilliton.com