BlueScope Steel Market Analysis and Financial Overview

Recent major Growth Initiatives underway and Indicative Capex Profile Total Est - FY2004 FY2005 FY2006 Capex/Cost Balance Vietnam A$160m $40m $100m $10m - New coating facilities Thailand A$80m $25m $55m - Metallic coating expansion China A$280m $20m $220m $40m - New coating/painting facilities Butler A$260m $260m - Acquisition cost Total A$780m $345m $375m $50m Page 25

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