Dividends Reinvestment Plan

A letter from The Chairman

Dear Shareholder

The Directors of BlueScope Steel Limited have established the BlueScope Steel Limited Dividend Reinvestment Plan ("the Plan"). The Plan enables you to receive some or all of your future dividends as ordinary BlueScope Steel Limited shares instead of cash. As all brokerage and associated costs are paid by the Company, the Plan provides a cost effective means for you to increase your ownership in BlueScope Steel Limited. In addition, shares issued under the Plan may be issued at a discount to the market price.

The website features a summary with some questions and answers that may help you understand the Plan, as well as a copy of the Plan rules. You should read this information carefully and obtain your own independent advice before determining whether or not you should participate in the BlueScope Steel Limited Dividend Reinvestment Plan.

Yours sincerely,



BlueScope Steel Limited ABN 16 000 011 058
BlueScope is a trademark of BlueScope Steel Limited