Bluescope Steel CSE Report 2005

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CEO Message

Dear employees and neighbours,

At BlueScope Steel, we value the support of our communities for our business and our products.

We work hard to care for our employees and the environment, create wealth, value our relationships with customers, and respect the communities in which we do business. These activities are part of Our Bond, our Company charter, which expresses the principles and values that guide our business decisions at BlueScope Steel.

Guided by Our Bond, our community programs are aimed at improving and enriching the lives of our fellow citizens by focusing on support for young people and assisting with educational programs and the development of community facilities. We also invest in programs to improve the environment of the communities where we operate.

Many of our community programs are outlined in this report. We hope you will take a few moments to read about these activities.

Our business performance has been outstanding in this last financial year and I would like to acknowledge the efforts of our employees and the continued strong support of our customers and communities.

We are now midway through our $2 billion growth program, involving over 20 major projects in eight countries, which also has a focus on safety and environmental performance.

We have made further progress in improving the environmental performance of our operations, some examples of which are included in this report.

In safety, we achieved a record low lost time injury frequency rate of less than one injury per million hours worked. Tragically, our otherwise improved safety performance was overshadowed by a fatality just after the close of the financial year. This tragedy continues to remind us we will not let up on our goal of Zero Harm at BlueScope Steel - we know it is achievable.

The Community, Safety and Environment report tells our story as a responsible business. This year, we have adopted many of the sustainability indicators developed by the International Iron and Steel Institute when I served as its Vice Chairman. The indicators provide a systematic method for measuring and reporting how the industry is performing regarding sustainable development. These indicators were created as an outcome of the IISI's Policy Statement on Sustainable Development in which Member Companies from the steel industry committed to integrating economic, environmental and social considerations into their decision-making.

While we have told our story in these pages, we would also like to hear from you. If you would like to provide us with feedback, you can send an e-mail to question@bluescopesteel.com

BlueScope Steel is now an international company with operations in 18 countries. But we will never forget that our communities are our homes.

Sincerely
Kirby Adams
Managing Director & CEO