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<title>Prepared and filed by St Ives Financial</title>

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<P align="center"> <B><FONT size=4 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SECURITIES
      AND EXCHANGE COMMISSION<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>WASHINGTON,
  DC 20549</b></FONT></P>
<P align="center"><B><FONT size=5 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FORM
      20-F</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="left" valign="top">
    <TD width="10%" align="center" nowrap> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Mark
        One)</font></TD>
    <TD colspan=2>&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp;</TD>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center"><img src="emptybox.gif" width="12" height="12"></TD>
    <TD colspan=2> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registration
        statement pursuant to Section 12 (b) or 12(g) of the Securities Exchange
        Act of 1934</FONT></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp; </TD>
    <TD width="25%">&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or</font></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp;</TD>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center"><img src="tickedbox.gif" width="12" height="12"></TD>
    <TD colspan=3> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Annual
          report pursuant to Section 13 or 15(d) of the Securities Exchange Act
          of 1934</FONT></B></TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp; </TD>
    <TD colspan=3> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">For
          the financial year ended: 31 December 2005</FONT></B></TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or</font></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp;</TD>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center"><img src="emptybox.gif" width="12" height="12"></TD>
    <TD colspan=3> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Transition
        report pursuant to Section 13 or 15(d) of the Securities Exchange Act
        of 1934</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp; </TD>
    <TD colspan="2"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
        the transition period from:</FONT><font size="2" face="TimesNewRoman,Times New Roman,Times,serif"><b>___________________ <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to <font size="2" face="TimesNewRoman,Times New Roman,Times,serif"><b>___________________</b></font></font><font size="2">&nbsp;</font></b></font></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or</font></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp;</TD>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center"><img src="emptybox.gif" width="12" height="12"></TD>
    <TD colspan=3> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shell
        company report pursuant to Section 13 or 15(d) of the Securities Exchange
        Act of 1934</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD align="center">&nbsp; </TD>
    <TD colspan=3> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date
        of event requiring this shell company report</FONT><font size="2" face="TimesNewRoman,Times New Roman,Times,serif"><b>___________________</b></font></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
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  <tr>
    <td align="center" valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Commission
        file number: 1-10533</font></td>
    <td width="50%" align="center" valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Commission
        file number: 0-20122</font></td>
  </tr>
  <tr>
    <td align="center" valign="bottom">&nbsp;</td>
    <td align="center" valign="bottom">&nbsp;</td>
  </tr>
  <tr>
    <td align="center" valign="bottom"><font size="4" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <b>Rio
          Tinto plc</b></font></td>
    <td align="center" valign="bottom"> <b><font size=4 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
          Tinto Limited</font></b></td>
  </tr>
  <tr>
    <td align="center" valign="bottom">&nbsp;</td>
    <td align="center" valign="bottom"> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ABN
          96 004 458 404</font></b> </td>
  </tr>
  <tr>
    <td align="center" valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Exact
        name of Registrant as specified in its charter)</font></td>
    <td align="center" valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Exact
        name of Registrant as specified in its charter)</font></td>
  </tr>
  <tr>
    <td align="center" valign="bottom">&nbsp;</td>
    <td align="center" valign="bottom">&nbsp;</td>
  </tr>
  <tr>
    <td align="center" valign="bottom"> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">England
          and Wales</font></b></td>
    <td align="center" valign="bottom"> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Victoria,
          Australia</font></b></td>
  </tr>
  <tr>
    <td align="center" valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Jurisdiction
        of incorporation or organisation)</font></td>
    <td align="center" valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Jurisdiction
        of incorporation or organisation)</font></td>
  </tr>
  <tr>
    <td align="center" valign="bottom">&nbsp;</td>
    <td align="center" valign="bottom">&nbsp;</td>
  </tr>
  <tr>
    <td align="center" valign="bottom"> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6
          St James&#146;s Square</font></b></td>
    <td align="center" valign="bottom"> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Level
          33, 55 Collins Street</font></b></td>
  </tr>
  <tr>
    <td align="center" valign="bottom"> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">London,
          SW1Y 4LD, England</font></b></td>
    <td align="center" valign="bottom"> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Melbourne,
          Victoria 3001, Australia</font></b></td>
  </tr>
  <tr>
    <td align="center" valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Address
        of principal executive offices)</font></td>
    <td align="center" valign="bottom"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Address
        of principal executive offices)</font></td>
  </tr>
</table>
<hr align="center" width="150" size="1" noshade>
<div align="center"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Securities
      registered or to be registered pursuant to Section 12(b) of the Act:</FONT></B> </div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD width="20%"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title
          of each class</FONT></b></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="25%"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name
          of each exchange</FONT></b></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="25%"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name
          of each exchange</FONT></b></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="20%"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title
          of each class</FONT></b></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">on
          which registered</FONT></b></TD>
    <TD>&nbsp; </TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">on
          which registered</FONT></b></TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">American
        Depositary <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Shares*</font></FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">New
        York <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Stock
        Exchange</font></FONT></TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">None</FONT></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ordinary
        Shares of 10p <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">each**</font></FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">New
        York <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Stock
        Exchange</font></FONT></TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD>&nbsp; </TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="top">
    <TD width=3% align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</FONT></TD>
    <TD align=left><font size="1"> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Evidenced
          by American Depository Receipts. Each American Depository Share Represents
          four Rio Tinto plc Ordinary Shares of 10p</FONT> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">each.</FONT></font></TD>
  </TR>
  <TR valign="top">
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">**</FONT></TD>
    <TD align=left><font size="1"> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Not
          for trading, but only in connection with the listing of American Depositary
          Shares, pursuant to the requirements of the Securities</FONT> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
          Exchange Commission</FONT></font></TD>
  </TR>
</TABLE>
<hr align="center" width="150" size="1" noshade>
<div align="center"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Securities
      registered or to be registered pursuant to Section 12(g) of the Act:</FONT></B> </div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width=45% align=center> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Title
          of each class</FONT></B></TD>
    <TD width=2% align="center">&nbsp; </TD>
    <TD width=45% align=center> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Title
          of each class</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=center><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">None</font> </TD>
    <TD align="center">&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">American
        Depositary Shares***</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=center>&nbsp; </TD>
    <TD align="center">&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ordinary
        Shares</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="3%"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">***</font></td>
    <td><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Evidenced
        by American Depository Receipts. Each American Depository Share represents
        four Rio Tinto Limited Ordinary Shares.</font></td>
  </tr>
</table>
<hr align="center" width="150" size="1" noshade>
<div align="center"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Securities
      for which there is a reporting obligation pursuant to Section 15(d) of
      the Act:</FONT></B> </div>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">None</FONT></TD>
    <TD width=50% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">None</FONT></TD>
  </TR>
</TABLE>
<P align="center"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Indicate
      the number of outstanding shares of each of the Issuer&#146;s classes of
      capital or common stock as of the close of the period covered by the annual
      report:</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=right><B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Title
          of each class</FONT></B> </TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Number</FONT></B> </TD>
    <TD width=2%><font size="1">&nbsp;</font> </TD>
    <TD align=right> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Number</FONT></B> </TD>
    <TD width=2%><font size="1">&nbsp;</font> </TD>
    <TD align=right> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Title
          of each class</FONT></B> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ordinary
        Shares of 10p each</FONT></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="17%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,068,422,633</FONT></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="17%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">456,815,943</FONT></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="30%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">DLC
        Dividend Share of 10p</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">DLC
        Dividend Share</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Special
        Voting Share of 10p</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Special
        Voting Share</FONT></TD>
  </TR>
</TABLE>
<div style="text-indent:3%">
  <P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Indicate
      by check mark if the registrants are well-seasoned issuers, as defined
      in rule 405 of the Securities Act.</FONT></P>
</div>
<TABLE width="100%" border=0 align=center cellPadding=0 cellSpacing=0>
  <TR>
    <TD width="51%" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Yes <img src="tickedbox.gif"></font></TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">No <img src="emptybox.gif" width="12" height="12"></font></TD>
  </TR>
</TABLE>
<div style="text-indent:3%">
  <P align="left"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> If
      this report is an annual or transition report, indicate by check mark if
      the registrants are not required to file reports pursuant to Section 13
      or 15(d) of the Securities Exchange Act of 1934 from their obligations
      under those Sections.</font></P>
</div>
<TABLE width="100%" border=0 align=center cellPadding=0 cellSpacing=0>
  <TR>
    <TD width="51%" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Yes <img src="emptybox.gif"></font></TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%"><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">No </font><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><img src="tickedbox.gif"></font></font></TD>
  </TR>
</TABLE>
<div style="text-indent:3%">
  <P align="left"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Note &#150; Checking
      the box above will not relieve any registrant required to file reports
      pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
      from their obligations under those Sections.</font></P>
</div>
<div style="text-indent:3%">
  <P align="left"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Indicate
      by check mark whether the registrants (1) have filed all reports required
      to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
      during the preceding 12 months (or for such shorter period that the registrants
      were required to file such reports), and (2) have been subject to such
      filing requirements for the past 90 days:</font></P>
</div>
<TABLE width="100%" border=0 align=center cellPadding=0 cellSpacing=0>
  <TR>
    <TD width="51%" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Yes <img src="tickedbox.gif"></font></TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">No <img src="emptybox.gif" width="12" height="12"></font></TD>
  </TR>
</TABLE>
<div style="text-indent:3%">
  <P align="left"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Indicate
      by check mark whether the registrants are large accelerated filers, accelerated
      filers, or non-accelerated filers. See definition of &#147;accelerated
      filer and large accelerated filer&#148; in Rule 12b-2 of the Exchange Act.
      (Check one):</font></P>
</div>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td width="45%" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Large
        accelerated filer <img src="tickedbox.gif" width="12" height="12"></font></td>
    <td width="2%">&nbsp;</td>
    <td width="15%" align="right"><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">Accelerated
          filer </font><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><img src="emptybox.gif" width="12" height="12"></font></font></td>
    <td width="2%">&nbsp;</td>
    <td width="40%" align="left"><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif"> </font><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">Non-accelerated
          filer </font><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><img src="emptybox.gif" width="12" height="12"></font></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<div style="text-indent:3%">
  <P align="left"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Indicate
      by check mark which financial statement item the registrants have elected
      to follow:</font></P>
</div>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="48%" align="right"><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item
          17 </font><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><img src="emptybox.gif" width="12" height="12"></font></font></td>
    <td>&nbsp;</td>
    <td width="48%"><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Item
          18 </font><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><img src="tickedbox.gif" width="12" height="12"></font></font></td>
  </tr>
  <tr>
    <td height="19" align="right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td height="1" valign="top" bgcolor="#000000"></td>
  </tr>
  <tr>
    <td height="2" valign="top" bgcolor="#FFFFFF"></td>
  </tr>
  <tr>
    <td height="4" valign="bottom" bgcolor="#000000"></td>
  </tr>
</table>
<div style="page-break-before:always"></div>
<page><a name="p1"></a>
<P align="center"><font size="4" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
  <B>EXPLANATORY NOTE</B></font></P>

<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Rio Tinto Group is a leading international mining group, combining Rio Tinto plc and Rio Tinto Limited in a dual listed companies (&#145;DLC&#146;) merger.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The DLC merger has the effect that shareholders can be regarded as having interests in a single economic enterprise that is under common control and
management. Accordingly this annual report on Form 20-F has been presented on a Group basis with certain exceptions such as the separate discussion and analyses that relate to the Rio Tinto plc and Rio Tinto Limited parts of the Group that have been
provided as a supplement to the discussion of the Rio Tinto Group. Shares in Rio Tinto plc and Rio Tinto Limited both provide shareholders with an interest in the earnings and net assets of the total Group, as if they together were a single economic
entity. In other words, a share in Rio Tinto plc provides an economic interest in the same fraction of the combined earnings and net assets of the Group as a share in Rio Tinto Limited. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The 2005 Financial statements including reconciliation to US accounting principles of the Rio Tinto Group (&#147;the Group&#148;) and of the Rio Tinto
plc and Rio Tinto Limited parts of the Group (&#147;the 2005 Financial statements&#148;) provide analysis of the total Group according to its legal structure, but these separate figures are not indicative of the economic interest of shareholders in
either of the Listed Companies.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc and Rio Tinto Limited also present their annual reports and financial statements to their shareholders, in accordance with both United
Kingdom and Australian legislation and regulations, on a Group basis. The current such document is the 2005 Annual report and financial statements. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The 2005 Financial statements and the 2005 Annual report and financial statements were both furnished with the Securities and Exchange Commission on Form
6-K for the month of March 2006 which was furnished on 6 April 2006. The 2005 Financial statements have been incorporated by reference under Item 18 herein.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc and Rio Tinto Limited established separate ADR programmes prior to their merger and have maintained both but following a recent review it
was concluded that the Rio Tinto Limited ADR programme should be terminated with effect from 10 April 2006 and a notice of termination was mailed to ADR holders. The Rio Tinto plc ADR programme will not be affected by this termination.</FONT></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">1</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="contents"></a>
<P align="center">
<B><FONT size=4 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TABLE OF CONTENTS</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>&nbsp;
	</TD>
	<TD align=left>&nbsp;	</TD>
	<TD align=right><b>
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Page</FONT></b></TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=center><hr size="1" noshade></TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=3>
<FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">PART I</FONT></TD>
</TR>
<TR valign="bottom">
	<TD width=8% align=left><font size="2"><a href="#p3">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</FONT></a></font></TD>
	<TD align=left><a href="#p3">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Identity of Directors, Senior Management and Advisers</FONT></a></TD>
	<TD width=5% align=right><a href="#p3">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p3a">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</FONT></a></font></TD>
	<TD align=left><a href="#p3a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Offer Statistics and Expected Timetable</FONT></a></TD>
	<TD align=right><a href="#p3a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p3b">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</FONT></a></font></TD>
	<TD align=left><a href="#p3b">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Key Information</FONT></a></TD>
	<TD align=right><a href="#p3b">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p8">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</FONT></a></font></TD>
	<TD align=left><a href="#p8">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Information on the Company</FONT></a></TD>
	<TD align=right><a href="#p8">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p36">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A.</FONT></a></font></TD>
	<TD align=left><a href="#p36">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Unresolved Staff Comments</FONT></a></TD>
	<TD align=right><a href="#p36">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">36</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p36a">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</FONT></a></font></TD>
	<TD align=left><a href="#p36a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Operating and Financial Review and Prospects</FONT></a></TD>
	<TD align=right><a href="#p36a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">36</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p81">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.</FONT></a></font></TD>
	<TD align=left><a href="#p81">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Directors, Senior Management and Employees</FONT></a></TD>
	<TD align=right><a href="#p81">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">81</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p121">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.</FONT></a></font></TD>
	<TD align=left><a href="#p121">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Major Shareholders and Related Party Transactions</FONT></a></TD>
	<TD align=right><a href="#p121">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">121</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p123">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.</FONT></a></font></TD>
	<TD align=left><a href="#p123">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Financial Information</FONT></a></TD>
	<TD align=right><a href="#p123">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">123</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p125">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.</FONT></a></font></TD>
	<TD align=left><a href="#p125">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Offer and Listing</FONT></a></TD>
	<TD align=right><a href="#p125">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">125</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p128">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.</FONT></a></font></TD>
	<TD align=left><a href="#p128">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Additional Information</FONT></a></TD>
	<TD align=right><a href="#p128">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">128</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p137">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.</FONT></a></font></TD>
	<TD align=left><a href="#p137">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Quantitative and Qualitative Disclosures about Market Risk</FONT></a></TD>
	<TD align=right><a href="#p137">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p137a">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.</FONT></a></font></TD>
	<TD align=left><a href="#p137a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Description of Securities other than Equity Securities</FONT></a></TD>
	<TD align=right><a href="#p137a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=center colspan=3><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=3>
<FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">PART II</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p137b">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">13.</FONT></a></font></TD>
	<TD align=left><a href="#p137b">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Defaults, Dividend Arrearages and Delinquencies</FONT></a></TD>
	<TD align=right><a href="#p137b">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p137c">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.</FONT></a></font></TD>
	<TD align=left><a href="#p137c">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Material Modifications to the Rights of Security Holders and Use of Proceeds</FONT></a></TD>
	<TD align=right><a href="#p137c">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p137d">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.</FONT></a></font></TD>
	<TD align=left><a href="#p137d">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Controls and Procedures</FONT></a></TD>
	<TD align=right><a href="#p137d">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p137e">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A.</FONT></a></font></TD>
	<TD align=left><a href="#p137e">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Audit Committee Financial Expert</FONT></a></TD>
	<TD align=right><a href="#p137e">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p137f">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">B.</FONT></a></font></TD>
	<TD align=left><a href="#p137f">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Code of Ethics</FONT></a></TD>
	<TD align=right><a href="#p137f">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p138">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">C.</FONT></a></font></TD>
	<TD align=left><a href="#p138">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Principal Accountant Fees and Services</FONT></a></TD>
	<TD align=right><a href="#p138">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">138</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p138a">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">D.</FONT></a></font></TD>
	<TD align=left><a href="#p138a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exemptions from the Listing Standards for Audit Committees</FONT></a></TD>
	<TD align=right><a href="#p138a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">138</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p138b">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">E.</FONT></a></font></TD>
	<TD align=left><a href="#p138b">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Purchases of Equity Securities by the Issuer and Affiliated Purchasers</FONT></a></TD>
	<TD align=right><a href="#p138b">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">138</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=center colspan=3><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=3>
<FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">PART III</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p139">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">17.</FONT></a></font></TD>
	<TD align=left><a href="#p139">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Financial Statements</FONT></a></TD>
	<TD align=right><a href="#p139">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">139</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p139a">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">18.</FONT></a></font></TD>
	<TD align=left><a href="#p139a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Financial Statements</FONT></a></TD>
	<TD align=right><a href="#p139a">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">139</FONT></a></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2"><a href="#p140">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item</FONT>    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">19.</FONT></a></font></TD>
	<TD align=left><a href="#p140">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibits</FONT></a></TD>
	<TD align=right><a href="#p140">
    <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">140</FONT></a></TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">2</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P align="center">
<B><FONT size=4 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RIO TINTO</FONT></B></P>
<P align="center">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PART I</FONT></B></P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="7%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p3"></a>Item
      1.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> Identity
    of Directors, Senior Management and Advisers</font></b></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Not
    applicable.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p3a"></a>Item
      2.</font></b></td>
    <td> <b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> Offer
          Statistics
and Expected Timetable</font></b></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Not
    applicable.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p3b"></a>Item
      3.</font></b></td>
    <td> <b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> Key
    Information</font></b></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD colspan=6 align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SELECTED FINANCIAL DATA FOR THE RIO TINTO GROUP </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for the period 2001 to 2005</FONT></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dividends
declared</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">in respect of each</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">year per share</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US cents</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">UK pence</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian cents</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=15% align=left><img src="b832238x4x1.jpg" border=0></TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=15% align=left><img src="b832238x4x2.jpg" border=0></TD>
  <TD width=4%>&nbsp;</TD>
  <TD width=15% align=left><img src="b832238x4x3.jpg" border=0></TD>
  <TD width=4% align=left>&nbsp;</TD>
  <TD width=22% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>

<P>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The special
dividend of 110 US cents per share (61.89 pence or 145.42 Australian cents per
share), declared<br>
payable at the same time as the 2005 final dividend, has not
been included
above.</FONT></P>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The selected consolidated financial data on pages 4 to 6 has been derived from the 2005 Financial statements of the Rio Tinto Group and of the Rio Tinto plc and Rio Tinto Limited
parts of the Group incorporated by reference under Item 18. Financial statements, herein, restated where appropriate to accord with the current accounting policies and presentations. The selected consolidated financial data should be read in
conjunction with, and qualified in their entirety by reference to, the 2005 Financial statements and notes thereto.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The 2005 Financial statements were prepared in accordance with IFRS as adopted by the European Union, which differs in certain respects from US GAAP.
Details of the principal differences between EU IFRS and US GAAP are set out in note 52 on pages A-92 to A-107 of the 2005 Financial statements.</FONT></P>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">3</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p4"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RIO TINTO GROUP</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Income
      Statement Data</font></b></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">For
      the years ending 31 December</font></b></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Amounts
      in accordance with EU IFRS </font></b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(a)</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      (US&#36; millions)</font></b></TD>
    <TD align=right><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></b></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></b></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;    </TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consolidated
      turnover</FONT></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,954</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">19,033</FONT></B>
    </TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit (b)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,327</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,922</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Profit
      for the year</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,244</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,498</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit per share (US cents)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241.3</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">507.5</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      per share (US cents)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">239.1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">382.3</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diluted
      earnings per share (US cents)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">238.7</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">381.1</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      per share (US cents) (c)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">66.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">83.5</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      per share (pence) (c)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36.2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">45.7</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      per share (Australian cents) (c)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90.2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">108.9</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weighted
      average number of shares (millions)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,379</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,364</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font> </TD>
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Amounts
      in accordance with US GAAP</FONT></B></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      (US&#36; millions)</FONT></B></TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2001</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2002</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2003</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consolidated
      turnover (g)</FONT></TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,348</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,719</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,545</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,814</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">19,033</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit (g)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,821</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">746</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,041</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,442</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,196</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net
      earnings (d)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,038</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">581</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,977</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,823</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,969</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.5</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42.2</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">143.5</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">204.7</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">364.3</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diluted
      earnings per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.4</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42.1</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">143.3</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">204.4</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">363.1</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Balance
      Sheet Data</font></b></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">at
      31 December</font></b></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Amounts
      in accordance with EU IFRS </font></b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(a)</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      (US&#36; millions)</font></b></TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;      </TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      assets</FONT></TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,308</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">29,803</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      capital / premium</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,127</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,079</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      equity / Net assets</FONT></TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,591</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15,739</FONT></B>
    </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Amounts
      in accordance with US GAAP</FONT></B></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      (US&#36; millions)</FONT></B></TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2001</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2002</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2003</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></B>
    </TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;    </TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      assets</FONT></TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,102</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,600</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,959</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28,938</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31,899</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      capital / premium</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,486</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,580</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,869</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,938</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,079</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto shareholders' funds (d)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,571</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,517</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,044</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14,462</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">17,214</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">4</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">
<page><a name="p5"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RIO TINTO PLC - PART OF RIO TINTO GROUP</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><B>Income
      Statement Data</B></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><B>for
      the years ending 31 December</B></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><B>Amounts
      in accordance with EU IFRS </B>(a)</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><B>(US&#36;
      millions)</B></font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      <B>2004</B></font></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      <B>2005</B></font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consolidated
      turnover</FONT></TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,506</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7,566</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit (b)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,422</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,596</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Profit
      for the year</FONT></TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,336</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,651</FONT></B>
    </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">133.3</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">242.8</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">229.1</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">337.1</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diluted
      earnings per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">228.6</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">336.1</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      per share (US cents) (c)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">66.0</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">83.5</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      per share (pence) (c)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36.2</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">45.7</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weighted
      average number of shares (millions)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,067</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,069</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><B><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Amounts
      in accordance with US GAAP</font></B></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <B> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      (US&#36; millions)</font></B></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      <B>2001</B> </font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></B>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></B>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      <B>2004</B> </font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      <B>2005</B> </font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consolidated
      turnover (g)</FONT></TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,783</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,993</FONT>
    </TD>
    <TD width=2% align=left valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,072</FONT>
    </TD>
    <TD width=2% align=left valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,298</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7,566</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit (g)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">548</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(481</FONT>
    </TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(7</FONT>
    </TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">162</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,176</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net
      earnings (d)</FONT></TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">618</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(206</FONT>
    </TD>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">949</FONT>
    </TD>
    <TD align=left valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,010</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,448</FONT></B>
    </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.1</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(19.3</FONT>
    </TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">89.0</FONT>
    </TD>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">188.3</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">322.5</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diluted
      earnings per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.0</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(19.3</FONT>
    </TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">88.9</FONT>
    </TD>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">188.0</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">321.6</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>Balance
      sheet data</B></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>at
      31 December</B></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>Amounts
      in accordance with EU IFRS </B>(a)</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>(US&#36; millions)</B></font></TD>
    <TD align=right valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>2004</B></font></TD>
    <TD align="right" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>2005</B></font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      assets</FONT></TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,364</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18,389</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      capital / premium</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,994</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,060</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      equity / Net assets</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,830</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11,445</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>Amounts
      in accordance with US GAAP</B></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>
      (US&#36; millions)</B></font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2001</B></font> </TD>
    <TD align="right" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2002</B></font></TD>
    <TD align="right" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2003</B></font></TD>
    <TD align="right" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2004</B></font></TD>
    <TD align="right" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2005</B></font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;    </TD>
    <TD align=right>&nbsp;    </TD>
    <TD>&nbsp;    </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      assets</FONT></TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,735</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,941</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,180</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17,375</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">19,791</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      capital / premium</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,754</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,764</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,784</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,805</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,060</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto shareholders&#146; funds (d)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,371</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,697</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,931</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,560</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12,984</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">5</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p6"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RIO TINTO LIMITED - PART OF RIO TINTO GROUP</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Income
      Statement Data</b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>for
      the years ending 31 December</b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Amounts
      in accordance with EU IFRS </b>(a)</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>(US&#36;
      millions)</B> </font></TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;      </TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;      </TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consolidated
      turnover</FONT></TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,448</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11,467</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit (b)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,905</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,326</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Profit
      for the year</FONT></TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,446</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,812</FONT></B>
    </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381.8</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">916.5</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">273.4</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">546.0</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diluted
      earnings per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">272.9</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">543.5</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      per share (US cents) (c)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">66.0</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">83.5</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      per share (Australian cents) (c)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90.2</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">108.9</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weighted
      average number of shares (millions)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">499</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">472</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Amounts
      in accordance with US GAAP</b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>(US&#36;
      millions)</B></font></TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2001</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2002</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2003</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;    </TD>
    <TD align=right>&nbsp;    </TD>
    <TD>&nbsp;    </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consolidated
      turnover (g)</FONT></TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,575</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,726</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,473</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,516</FONT></TD>
    <TD width=2% valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11,467</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group
      operating profit (g)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,273</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,231</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,048</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,280</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,020</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net
      earnings (d)</FONT></TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">671</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,267</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,647</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,301</FONT></TD>
    <TD valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,432</FONT></B>
    </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">134.6</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">254.0</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">330.1</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">260.6</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">515.4</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diluted
      earnings per share (US cents)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">134.5</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">253.7</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">330.0</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">260.1</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">513.1</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Balance
      sheet data</b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>at
      31 December</b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Amounts
      in accordance with EU IFRS </b>(a)</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>(US&#36; millions)</B> </font></TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      assets</FONT></TD>
    <TD width=8% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,636</FONT></TD>
    <TD width=2% valign="bottom">&nbsp; </TD>
    <TD width=8% align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">17,309</FONT></B>
    </TD>
    <TD width=2% align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      capital / premium</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,336</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,162</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      equity / Net assets</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,153</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,442</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>Amounts
      in accordance with US GAAP</B></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>(US&#36;
      millions)</B></font></TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2001</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2002</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2003</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></B></TD>
    <TD align="center" valign="bottom"> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;    </TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD width=2% align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      assets</FONT></TD>
    <TD width="8%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,770</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="8%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,609</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="8%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,234</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="8%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,964</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="8%" align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18,417</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      capital / premium</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">865</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">964</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,280</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,336</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,162</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto shareholders' funds (d)</FONT></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,920</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,922</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,996</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,247</FONT></TD>
    <TD valign="bottom">&nbsp; </TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,762</FONT></B>
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">

  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B></TD>
  </TR>
  <TR align="left" valign="top">
    <TD width=3%> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
    <TD rowspan="2"><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
      accordance with the General Instructions for Form 20-F, Section G, audited
      information under EU IFRS is presented for 2004 and 2005</FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      only on the occasion of first time application of International Financial
      Reporting Standards.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Operating
      profit under EU IFRS includes the effects of charges and reversals resulting
      from impairments and profit and loss on disposals of </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">interests
      in businesses, including investments. Operating profit under US GAAP also
      includes the effects of charges but not reversals </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">resulting
      from impairments but excludes profit and loss on disposals of interests
      in businesses, including investments. Both the EU IFRS and </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">US
      GAAP operating profit amounts shown above exclude equity accounted operations.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT></TD>
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      presented above are those paid in the year in accordance with EU IFRS.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</FONT></TD>
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Amounts
      shown are attributable to equity shareholders of Rio Tinto.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</FONT></TD>
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      results for all years relate wholly to continuing operations.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f)</FONT></TD>
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">There
      are no differences between International Financial Reporting Standards (IFRS)
      and IFRS adopted by the European Union (EU IFRS) </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">that
      would impact the financial statements of the Rio Tinto Group for the years
      ended 31 December 2004 and 2005.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(g)</FONT></TD>
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Certain
      jointly controlled assets, which previously were equity accounted under
      UK and US GAAP, are proportionally consolidated </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">under
      EU IFRS. The above US GAAP data for 2005 also include these units on the
      basis of proportional consolidation. Amounts presented </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
      consolidated turnover and operating profit in the years 2001 through 2004
      have not been restated and continue to incorporate these </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">units
      on the equity accounting basis. If these units had been subject to equity
      accounting in 2005, Group consolidated turnover and operating </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">profit,
      respectively, would have been &#36;2.2 billion and &#36;1.1 billion lower;
      Rio Tinto plc consolidated turnover and operating profit would have </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">been
      &#36;746 million and &#36;425 million lower; and Rio Tinto Limited consolidated
      turnover and operating profit would have been &#36;1.4 billion </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      &#36;712 million lower. However, net earnings would have been unchanged.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(h)</FONT></TD>
    <TD><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
      a result of adopting IAS 32, IAS 39 and IFRS 5 on 1 January 2005, the Group
      changed its method of accounting for financial instruments </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      non-current assets held for sale. In line with the relevant transitional
      provisions, the prior period comparatives have not been re-stated. </FONT><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">See
      Note 1 to the 2005 Financial statements for further discussion. </FONT></TD>
  </TR>
</TABLE>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">6</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p7"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RISK FACTORS</FONT></B></p>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
    following describes some of the risks that could affect Rio Tinto. There may
    be additional risks unknown to Rio Tinto and other risks, currently believed
    to be immaterial, could turn out to be material. These risks, whether they
      materialise individually or simultaneously, could significantly affect the
      Group&#146;s business
    and financial results. They should also be considered in connection with any
    forward looking statements in this document and the cautionary statement on
the following page.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Economic conditions</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Commodity
    prices, and demand for the Group&#146;s products, are influenced strongly by world economic growth, particularly that in the US and Asia. The Group&#146;s normal policy is
    to sell its products at prevailing market prices. Commodity prices can fluctuate widely and could have a material and adverse impact on the Group&#146;s
    asset values, revenues, earnings and cash flows. Further discussion can be
    found under Business environment and markets on page 13, and under Commodity
    prices
    on pages 49 to 51.</FONT>
</font><P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exchange rates</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  Group&#146;s asset values, earnings and cash flows are influenced by a wide variety of currencies due to the geographic diversity of the Group&#146;s customers and areas of
  operation. The majority of the Group&#146;s sales are denominated in US dollars. The Australian and US dollars are the most important currencies influencing costs. The relative value of currencies can fluctuate widely and could have a material and
  adverse impact on the Group&#146;s asset values, costs, earnings and cash flows.
  Further discussion can be found under Exchange rates, reporting currencies and
  currency exposure on pages 47 to 49.</FONT></font></P>
  <p><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Acquisitions</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group has grown partly through the acquisition of other businesses. Business
combinations commonly entail a number of risks and Rio Tinto cannot be sure that
management will be able effectively to integrate businesses acquired or generate
the cost savings and synergies anticipated. Failure to do so could have a material
and adverse impact on the Group&#146;s costs, earnings and cash flows. Furthermore,
the Group could find itself liable for undisclosed past acts or omissions of
the acquired businesses without any adequate right of redress.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exploration and new projects</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  Group seeks to identify new mining properties through an active exploration programme.
  There is no guarantee, however, that such expenditure will be recouped or that
  existing mineral reserves will be replaced. Failure to do so could have a material
  and adverse impact on the Group&#146;s financial results and prospects.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group develops new mining properties and expands its existing operations as a means of generating shareholder value. Increasing regulatory,
environmental and social approvals are, however, required which can result in significant increases in construction costs and/or significant delays in construction. These increases could materially and adversely affect a project&#146;s economics,
the Group&#146;s asset values, costs, earnings and cash flows.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ore reserve estimates</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">There are
    numerous uncertainties inherent in estimating ore reserves and assumptions
 that are valid at the time of estimation may change significantly when new
    information becomes available.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Changes
    in the forecast prices of commodities, exchange rates, production costs or
    recovery rates may change the economic status of reserves and may, ultimately,
    result in the reserves being restated. Such changes in reserves could impact
    on depreciation and amortisation rates, asset carrying values, deferred stripping
    calculations and provisions for close down, restoration and environmental
    clean up costs. Further discussion can be found under Ore reserve estimates
    on page 52.</FONT></P>
  <P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Political and community</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group has operations in jurisdictions having varying degrees of political instability. Political instability can result in civil unrest, expropriation, nationalisation,
  renegotiation or nullification of existing agreements, mining leases and permits, changes in laws, taxation policies or currency restrictions. Any of these can have a material adverse effect on the profitability or, in extreme cases, the viability
  of an operation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Some of the Group&#146;s current and potential operations are located in or near communities that may now, or in the future, regard such an operation as
having a detrimental effect on their economic and social circumstances. Should this occur, it might have a material adverse impact on the profitability or, in extreme cases, the viability of an operation. In addition, such an event may adversely
affect the Group&#146;s ability to enter into new operations in the country.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Technology</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group has invested in and implemented information system and operational initiatives. Several technical aspects of these initiatives are still unproven and the eventual
  operational outcome or viability cannot be assessed with certainty. Accordingly, the costs and benefits from these initiatives and the consequent effects on the Group&#146;s future earnings and financial results may vary widely from present
  expectations.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">7</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Land and resource tenure</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group operates in several countries where title to land and rights in respect of land and resources (including indigenous title) may be unclear and may lead to disputes over
  resource development. Such disputes could disrupt relevant mining projects and/or impede the Group&#146;s ability to develop new mining properties.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Health, safety and environment</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto operates in an industry that is subject to numerous health, safety and environmental laws and regulations as well as community expectations. Evolving regulatory standards
  and expectations can result in increased litigation and/or increased costs all of which can have a material and adverse effect on earnings and cash flows.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Mining operations</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining operations are vulnerable to a number of circumstances beyond the Group&#146;s control, including natural disasters, unexpected geological variations and industrial actions.
  These can affect costs at particular mines for varying periods. Mining, smelting and refining processes also rely on key inputs, for example fuel and electricity. Appropriate insurance can provide protection from some, but not all, of the costs that
  may arise from unforeseen events. Disruption to the supply of key inputs, or changes in their pricing, may have a material and adverse impact on the Group&#146;s asset values, costs, earnings and cash flows.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rehabilitation</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Costs associated with rehabilitating land disturbed during the mining process and addressing environmental, health and community issues are estimated and provided for based on the
  most current information available. Estimates may, however, be insufficient and/or further issues may be identified. Any underestimated or unidentified rehabilitation costs will reduce earnings and could materially and adversely affect the
  Group&#146;s asset values, earnings and cash flows.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Non managed operations</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto cannot guarantee that management of mining and processing assets not subject to its management control will comply with the Group&#146;s standards and objectives, nor that
  effective policies, procedures and controls will be maintained over those assets. Improper management or ineffective policies, procedures or controls could materially affect the value of those assets.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CAUTIONARY STATEMENT ABOUT FORWARD LOOKING STATEMENTS</FONT></B></P>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This
  document contains certain forward looking statements with respect to the financial
  condition, results of operations and business of the Rio Tinto Group. The words &#147;intend&#148;, &#147;aim&#148;, &#147;project&#148;, &#147;anticipate&#148;, &#147;estimate&#148;, &#147;plan&#148;, &#147;believes&#148;, &#147;expects&#148;, &#147;may&#148;, &#147;should&#148;, &#147;will&#148;,
  or similar expressions, commonly identify such forward looking statements. Examples
  of forward looking statements in this annual report on Form 20-F include those
  regarding estimated reserves, anticipated production or construction commencement
  dates, costs, outputs, demand, growth opportunities and productive lives of assets
  or similar factors. Forward looking statements involve known and unknown risks,
  uncertainties, assumptions and other factors set forth in this document that
  are beyond the Group&#146;s control. For example, future reserves will be based
  in part on long term price assumptions that may vary significantly from current
  levels. These may materially affect the timing and feasibility of particular
  developments. Other factors include the ability to produce and transport products
  profitably, demand for our products, the effect of foreign currency exchange
  rates on market prices and operating costs, and activities by governmental authorities,
  such as changes in taxation or regulation, and political uncertainty.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In light of these risks, uncertainties and assumptions, actual results could be materially different from any future results expressed or implied by
  these forward looking statements which speak only as at the date of this report. Except as required by applicable regulations or by law, the Group does not undertake any obligation to publicly update or revise any forward looking statements, whether
  as a result of new information or future events. The Group cannot guarantee that its forward looking statements will not differ materially from actual results.</FONT></font></P>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p8"></a>Item
      4.</font></b></td>
    <td><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> Information
    on the Company</FONT></B></td>
  </tr>
</table>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INTRODUCTION</FONT></B></P>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
    Tinto Limited and Rio Tinto plc operate as one business organisation, referred
    to in this report as Rio Tinto, the Rio Tinto Group or, more simply, the
    Group. These collective expressions are used for convenience only since both
    Companies, and the individual companies in which they directly or indirectly
    own investments, are separate and distinct legal entities.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#147;Limited&#148;, &#147;plc&#148;, &#147;Pty&#148;, &#147;Inc&#148;, &#147;Limitada&#148;, or &#147;SA&#148; have generally been omitted from Group
company names, except to distinguish between Rio Tinto plc and Rio Tinto Limited.</FONT></font></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">8</font></b></td>
  </tr>
</table>
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  <p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
       data in United States dollars (US&#36;) is derived from, and should be
       read  in conjunction with, the 2005 Financial statements which are in
       US&#36;. In
    general, financial data in pounds sterling (&#163;) and Australian dollars
     (A&#36;) have been translated from the consolidated financial statements,
      and have been provided solely for convenience; exceptions arise where data,

    such as directors&#146; remuneration, can be extracted directly from source
     records.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto
    Group turnover, profit before tax and net earnings and operating assets for
    2004 and 2005 attributable to the product groups and geographical areas are
    shown in notes 32 and 33 to the 2005 Financial statements on pages A-52 to
    A-55. In the Operational review, operating assets and turnover for 2004 and
    2005 are consistent with the financial information by business unit in note
    51 to the 2005 Financial statements on pages A-90 to A-91.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The tables on pages 15 to 29 show production for 2003, 2004 and 2005 and include estimates of proven and probable reserves. Words and phrases, often
technical, have been used which have particular meanings; definitions of these terms are on in the Glossary on pages 143 to 145. The weights and measures used are mainly metric units; conversions into other units are shown on page 145.</FONT></font></p>
  <p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">AN OVERVIEW OF RIO TINTO</FONT></B></font></P>
  <p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto is a leading international mining group, combining Rio Tinto plc
      and Rio Tinto Limited in a dual listed companies (DLC) structure as a single
      economic entity. Nevertheless, both Companies remain legal entities with
      separate share listings and registers. Rio Tinto plc is incorporated in
      England and Wales and Rio Tinto Limited is incorporated in Australia.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s international headquarters are in London whilst the Australian representative office in Melbourne provides support for the operations,
undertakes external and investor relations and fulfils statutory obligations. The registered office of Rio Tinto plc is at 6 St James&#146;s Square, London, SW1Y 4LD (telephone: +44 20 7930 2399) and the registered office of Rio Tinto Limited is at
Level 33, 55 Collins Street, Melbourne, Victoria 3000 (telephone: +61 3 9283 3333).</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For purposes of service, Rio Tinto&#146;s agent in the US is Shannon Crompton, secretary of Rio Tinto&#146;s US holding companies, who may be contacted
at Rio Tinto Services Inc., 80 State Street, Albany, New York, 12207-2543. Investor relations in the US are provided by Makinson Cowell US Limited, One Penn Plaza, 250 W 34</FONT><SUP><FONT face="TimesNewRomanPSMT,Times New
Roman,Times,serif">th</FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"> St, Suite 1935, New York, NY 10119.</FONT></font></P>
  <P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Objective, strategy and management structure</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s fundamental objective is to maximise the overall long term return to its shareholders by operating responsibly and sustainably in areas of proven expertise where the
  Group has competitive advantage. Its strategy is to maximise net present value by investing in large, long life, cost competitive mines. Investments are driven by the quality of opportunity, not choice of commodity.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s mining interests are diverse both in geography and product. The Group consists of wholly and partly owned subsidiaries, jointly
controlled assets, jointly controlled entities and associated companies, the principal ones being listed in notes 38 to 41 of the 2005 Financial statements on pages A-68 to A-70.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s management structure is designed to facilitate a clear focus on the Group&#146;s objective. The management structure, which is reflected
in this report, is based on principal product and global support groups:</FONT></font></P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left">
    <td width="3%"><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Iron
      Ore</font></td>
  </tr>
  <tr align="left">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Energy</font></td>
  </tr>
  <tr align="left">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Industrial
      Minerals</font></td>
  </tr>
  <tr align="left">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium</font></td>
  </tr>
  <tr align="left">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper</font></td>
  </tr>
  <tr align="left">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diamonds</font></td>
  </tr>
  <tr align="left">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exploration,
      and</font></td>
  </tr>
  <tr align="left">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Technology.</font></td>
  </tr>
  <tr align="left">
    <td colspan="2"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      chief executive of each group reports to the chief executive of Rio Tinto.</FONT></td>
  </tr>
</table>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operational and Financial Review (OFR)</FONT></B><font size="2"><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto provides a full description of its operational, financial and HSE performance under Item 5. on pages 36 to 80. This description broadly covers the requirements which would
  have arisen in the UK had the OFR been introduced as originally proposed.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 financial summary</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On 31 December 2005, Rio Tinto plc had a market capitalisation of &#163;28.4 billion (US&#36;48.8 billion) and Rio Tinto Limited had a market capitalisation of A&#36;19.7 billion
  (US&#36;14.5 billion). The combined Group&#146;s market capitalisation in publicly held shares at the end of 2005 was US&#36;63.3 billion.</FONT></font></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">9</font></b></td>
  </tr>
</table>
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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At 31 December 2005, Rio Tinto had total assets of US&#36;29.8 billion: 49 per cent were located in Australia and New Zealand and 28 per cent in North
America. Gross turnover in 2005 was US&#36;20.7 billion (or US&#36;19.0 billion excluding Rio Tinto&#146;s share of jointly controlled entities and associates&#146; turnover). In 2005, the profit for the year and net earnings attributable to Rio
Tinto shareholders were US&#36;5,498 million and US&#36;5,215 million, respectively.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">History</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Rio Tinto Company was formed by investors in 1873 to mine ancient copper workings at Rio Tinto in southern Spain. The Consolidated Zinc Corporation was incorporated in 1905,
initially to treat zinc bearing mine waste at Broken Hill, New South Wales, Australia.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The RTZ Corporation (formerly The Rio Tinto-Zinc Corporation) was formed in 1962 by the merger of The Rio Tinto Company and The Consolidated Zinc
Corporation. CRA Limited (formerly Conzinc Riotinto of Australia Limited) was formed at the same time by a merger of the Australian interests of The Consolidated Zinc Corporation and The Rio Tinto Company. Between 1962 and 1995, RTZ and CRA
discovered important mineral deposits, developed major mining projects and also grew through acquisition.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTZ and CRA were unified in December 1995 through a DLC structure. Directed by a common board of directors, this is designed to place the shareholders of
both Companies in substantially the same position as if they held shares in a single enterprise owning all of the assets of both Companies.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In June 1997, The RTZ Corporation became Rio Tinto plc and CRA Limited became Rio Tinto Limited, together known as the Rio Tinto Group. Since the 1995
merger, the Group has continued to invest in developments and acquisitions in keeping with its strategy.</FONT></font></P>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RECENT DEVELOPMENTS</FONT></B></font></p>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Share buy backs and issues 2005</FONT></B><br>
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On 3 February
  2005 the Group announced, subject to market conditions, an intention to return
  up to US&#36;1,500 million of capital to shareholders during the course of
  2005 and 2006, and that this would include an off-market buy back of Rio Tinto
  Limited shares through a tender process.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On
9 May 2005, Rio Tinto Limited bought back 27,294,139 shares, representing 8.7
per cent of its publicly held issued share capital, under an off-market tender
and 16,367,000 shares held indirectly by Rio Tinto plc. All of these shares were
purchased at a price of A&#36;36.70 (US&#36;28.36) per share, representing a
14 per cent discount to the relevant market price, and were cancelled.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During
the year Rio Tinto plc bought back 2,600,000 ordinary shares, representing less
than one per cent of its issued share capital, on the open market for an aggregate
consideration of US&#36;103.2 million, to be held as treasury shares.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Also
during the year Rio Tinto plc issued 3,000,155 ordinary shares and Rio Tinto
Limited issued 1,130,211 shares in connection with Rio Tinto&#146;s
share plans. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On
2 February 2006, the Group announced an intention to return up to US&#36;4,000 million of capital to shareholders, of which US&#36;1,500 million would
be paid out as a special dividend and, subject to market conditions, the remaining US&#36;2,500 million would be applied to buy backs of either Rio Tinto Limited or Rio Tinto plc shares. This would replace the US&#36;528
million remainder of the
initiative announced on 3 February 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Between
1 January 2006 and 31 May 2006, Rio Tinto plc issued a further 2,102,943 ordinary
shares in connection with employee share plans and bought back a further 16,375,000
shares to be held as treasury shares for an aggregate consideration of US&#36;832.6
million. Of the shares issued 872,833 shares were issued from treasury. Rio Tinto
Limited purchased and issued 1,258,673 shares in connection with employee share
plans. As at 31 May 2006 there remained options outstanding over 6,736,565 Rio
Tinto plc ordinary shares and over 5,414,193 Rio Tinto Limited shares.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Share buybacks and issues 2003-2004</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the years
2003 and 2004, neither Rio Tinto plc nor Rio Tinto Limited purchased any shares
in either Company.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2003,
    Rio Tinto plc issued 1,193,000 ordinary shares and granted options over 2.7
    million ordinary shares, and Rio Tinto Limited issued
  240,000 shares and granted options over 1.6 million shares, in connection with
employee share plans.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2004, Rio Tinto plc issued 1,347,000 ordinary shares and granted options over 1.5 million ordinary shares, and Rio Tinto Limited issued 280,000 shares
and granted options over 1.3 million shares, in connection with employee share plans.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operations acquired and divested 2005</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In March 2005, Rio
Tinto&#146;s wholly owned subsidiary QIT-Fer et Titane Inc sold its entire holding in the Labrador Iron Ore Royalty Income Fund (LIORIF) to RBC Capital Markets for
net cash proceeds of US&#36;130 million. LIORIF has an equity interest of 15.1 per cent in, and receives royalties from, Iron Ore Company of Canada (IOC), a subsidiary of Rio Tinto. The transaction had no effect on Rio Tinto&#146;s
59 per cent
direct interest in IOC.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right" valign="bottom"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F </font></i></td>
    <td width="3%" align="right" valign="bottom"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">10</font></b></td>
  </tr>
</table>
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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rio Tinto reached agreement with Hancock Prospecting Pty Ltd to purchase a 50 per cent interest in the Hope Downs iron ore assets in Western
Australia.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto reached agreement with Lihir Gold to relinquish its management agreement with Lihir, effective from October and subsequently sold its 14.5 per
cent interest in November for US&#36;295 million.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operations acquired and divested 2003-2004</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The sale of Rio Tinto&#146;s 25 per cent interest in Minera Alumbrera Limited in Argentina, acquired as part of North Limited, together with its wholly owned Peak gold mine in New
South Wales, Australia, was completed in March 2003. The cash consideration was US&#36;210 million.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Framework Agreement signed with the Government of Indonesia in 2002 for divestment of 51 per cent of Kaltim Prima Coal (KPC) to Indonesian interests
lapsed in 2003 when no assignment of KPC&#146;s offer was made or accepted within the required timeframe. On 21 July 2003 Rio Tinto and BP announced that they had agreed to sell their interests in KPC for a cash price of US&#36;500 million,
including assumed debt, to PT Bumi Resources, a public company listed on the Jakarta and Surabaya Stock Exchanges. The sale was completed on 10 October 2003 and each company received 50 per cent of the net proceeds.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In January 2004, Rio Tinto completed the sale of its 100 per cent interest in the nickel mining company Minera&ccedil;&atilde;o Serra da Fortaleza Ltda
to Votorantim Metais, a Brazilian controlled mining company. Including an adjustment for future nickel prices, the total cash consideration was approximately US&#36;80 million.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A 20 per cent interest in the Sepon project in Laos, comprising a gold operation and the Khanong copper project, was sold to Oxiana Limited for a cash
consideration of US&#36;85 million.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In March 2004, Rio Tinto completed the sale of its shareholding in Freeport-McMoRan Copper &amp; Gold Inc (FCX). Rio Tinto received net proceeds of
US&#36;882 million for its 23,931,100 FCX shares. Rio Tinto retains its 40 per cent joint venture interest in reserves discovered after 1994 at the Grasberg mine, which is managed by FCX. The sale of FCX shares does not affect the terms of the joint
venture nor the management of the Grasberg mine.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In June 2004, Rio Tinto completed the sale of its 100 per cent interest in Zinkgruvan Mining AB to South Atlantic Ventures. Zinkgruvan was acquired in
2000 as part of North Ltd.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto and Empresa de Desenvolvimento Mineiro completed the sale of their interests in the Neves Corvo copper mine in Portugal to EuroZinc for a cash
consideration and a participation in the average copper price in excess of certain thresholds. Rio Tinto&#146;s share of the consideration for its 49 per cent share of the mine was US&#36;70 million. The remaining price participation rights relating
to copper production from Neves Corvo, which was sold in the first half of 2004, were themselves sold for US&#36;22 million.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2004, the directors of Rio Tinto Zimbabwe (RioZim) agreed to a restructuring of Rio Tinto&#146;s 56 per cent shareholding in RioZim. The Murowa
diamond project in Zimbabwe had been a 50:50 joint venture between Rio Tinto and RioZim. As a result of the restructuring, Rio Tinto owns a direct 78 per cent interest in Murowa and RioZim became an independent Zimbabwean controlled, listed company
owning the remaining 22 per cent of Murowa. Rio Tinto ceased to be an ordinary shareholder in RioZim but retains a reduced cash participation in RioZim&#146;s assets other than the Murowa diamond project for a period of ten years. The transaction
had no material effect on Rio Tinto.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The sale to Nippon Steel of an eight per cent interest in the Hail Creek Joint Venture, and the increase in the combined share of the original
participants, Marubeni Coal and Sumisho Coal Development, by two per cent was completed in the fourth quarter of 2004. Rio Tinto will receive about US&#36;150 million for the sale of these assets including the sale of a 47 per cent interest in the
Beasley River iron ore deposits to its joint venture partners in Robe River, which includes Nippon Steel. The Hail Creek component of the sale is complete and arrangements for the Beasley River component are progressing.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In December 2004, Rio Tinto Energy America (formerly Kennecott Energy) successfully bid for an additional 177 million tonnes of in-situ coal reserves at
West Antelope at a cost of US&#36;146 million. The sale of the Group&#146;s 51 per cent interest in Rio Paracatu Minera&ccedil;&atilde;o, the owner of the Morro do Ouro mine in Brazil, was completed on </FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
December
2004 for US&#36;250 million, subject to an adjustment for working capital.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Development projects 2005</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto invested US&#36;2.5 billion in the growth of the business in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At the Diavik diamond mine in Canada construction began in 2005 of a second dike at a cost of US&#36;190 million to enable mining of a third orebody.
Also approved was an optimisation study costing US&#36;75 million including construction of an exploration decline to investigate underground mining.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A project to enlarge the Bingham Canyon open pit at Kennecott Utah Copper in the US was approved in February 2005. The East 1 pushback is expected to
extend the life of the open pit to 2017. Capital expenditure on the project is budgeted to be US&#36;100 million for mine facilities, a concentrator upgrade and mobile equipment, and US&#36;70 million after 2008 for the relocation of the in pit
crusher and dewatering facilities.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">First hot metal was produced in the second quarter of 2005 from the expanded US&#36;200 million HIsmelt&reg; plant at Kwinana in Western Australia.
Construction began in January 2003 and cold commissioning commenced in late 2004. The full production rate of 800,000 tonnes per year is expected to be reached over three years.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In April, Rio Tinto committed US&#36;290 million to further expand existing Hamersley Iron mines in Western Australia. Expansion of the Mount Tom Price
and Marandoo mines and the construction of new mine capacity at Nammuldi, which is adjacent to the existing Brockman operation, is expected to commence progressive commissioning </FONT></font></P>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right" valign="bottom"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
          Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right" valign="bottom"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">11</font></b></td>
  </tr>
</table>
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<P>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">from early
  2006. These projects will add 15 million tonnes per annum to Hamersley Iron&#146;s
  mine capacity for at least three years.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the first half expansion was completed of the upgraded slag (UGS) plant at QIT-Fer et Titane in Canada to 325,000 tonnes per year from 250,000 tonnes.
The project was completed on time and within budget. Further expansion to 375,000 tonnes is scheduled for completion in the second half of 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Approval
was given in August for construction of a US&#36;775 million titanium dioxide project comprising a US&#36;585 million mineral sands operation
and port in Madagascar and a US&#36;190 million upgrade of Rio Tinto&#146;s ilmenite smelting facilities in Canada. First production from the Madagascar operation in the Fort Dauphin region is expected in late 2008 and the initial capacity will be
750,000 tonnes per year of ilmenite. The ilmenite will be smelted at Rio Tinto&#146;s
facilities at Sorel in Quebec. This will require an upgrade of storage and handling
facilities as well as their associated ancillary services at the Sorel
site.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
October, Rio Tinto announced it will spend US&#36;1.35 billion on further expansion of wholly owned Hamersley Iron&#146;s
Yandicoogina mine and
Dampier port in Western Australia.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Expansion
of the Yandicoogina mine will increase its annual capacity from 36 million tonnes
to 52 million tonnes at an estimated cost of US&#36;530
million. The most recent expansion, from 24 to 36 million tonnes a year, was completed in August 2005. US&#36;690
million will be invested in further expanding port facilities at Dampier, which
will increase its annual shipping capacity from 116 million tonnes to 140 million
tonnes. The most recent port expansion, to 116 million tonnes, was completed
in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
September, Rio Tinto approved its US&#36;182 million share of the development
costs of the Cortez Hills gold project in Nevada, which is 40 per cent owned
by Rio Tinto and 60 per cent by Placer Dome.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Comalco
committed US&#36;60 million to the addition of a new ship loader at the Weipa
bauxite mine in Australia to ensure reliability of bauxite supply to customers.
The new loader is expected to be commissioned by late 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Argyle diamond mine block caving project was approved in late 2005 at a cost
of US&#36;910 million, and R&ouml;ssing Uranium&#146;s open pit is to be
enlarged with the addition of mining equipment for a total incremental and sustaining capital cost of US&#36;112
million.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Further detail on these investments and projects is provided under Item 5. on pages 36 to 80.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Development projects have been funded using internally
generated funds and proceeds of asset disposals.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Development projects 2003-2004</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Construction of the Diavik diamond mine in the Northwest Territories of Canada was completed in January 2003 three months early and within budget. Initial production commenced from
the contact zone above the orebody with the main orebody accessed during the second half of 2003.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Development
of the Escondida Norte satellite deposit at the 30 per cent owned Escondida copper
mine in Chile was started in June 2003 to provide mill
feed to keep Escondida&#146;s capacity above 1.2 million tonnes of copper per year to the end of 2008. First production occurred in 2005. Commissioning of the new US&#36;1,045
million, 110,000 tonnes of ore per day Laguna Seca concentrator was completed
in the second quarter of 2003.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
2003, Rio Tinto Coal Australia completed development of the US&#36;255 million
Hail Creek coking coal project in Queensland, Australia with an initial capacity
of 5.5 million tonnes annually.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
December 2003, Hamersley Iron announced the US&#36;920 million expansion of its
port and mine capacity, with further expenditure on the rail network and power
infrastructure being evaluated.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
partners in the Robe River Joint Venture approved US&#36;214 million (Rio Tinto share US&#36;113 million) to dual track a significant part of the
Hamersley Iron rail line due for completion in 2006. Hamersley Iron committed a further US&#36;46
million to upgrade power infrastructure in the Pilbara. The port and mine expansions
were completed by the end of 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
January 2004, Rio Tinto approved the expansion of QIT-Fer et Titane Inc&#146;s upgraded slag (UGS) plant in Quebec, Canada. Total investment was
US&#36;76 million and capacity was increased from 250,000 tonnes per year to
325,000 tonnes per year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
owners of the Escondida copper mine in Chile approved expenditure of US&#36;870 million (Rio Tinto share US&#36;270
million) on a sulphide leach project to produce 180,000 tonnes (Rio Tinto share
54,000 tonnes) of copper cathode per annum for more than 25 years starting in
the second half of 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Construction
of the US&#36;100 million second block cave at the underground Northparkes copper
and gold mine in New South Wales, Australia was completed and production commenced
in 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Development of the 54 per cent owned Eastern Range iron ore mine in Australia with a capacity of ten million tonnes per year was completed in 2004, with
first shipments dispatched in the first half of the year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Expansion
of the Weipa bauxite mine in Queensland, Australia, was completed, which will
result in an increase in production capacity to 16.5 million tonnes per annum
in coming years. This supports the requirements of the new Comalco Alumina Refinery.
A key component of the US&#36;150 million expenditure is a 9.5 million tonne beneficiation plant for ore from the Andoom deposit. In 2005, a new
US&#36;40 million power station was constructed and will be commissioned in 2006.
The station will service the Weipa mining operations and surrounding communities.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Construction
of the first stage of Comalco&#146;s new alumina refinery at Gladstone, Queensland commenced in January 2002 and was completed in late 2004,
three months early and in line with its budget of US&#36;750 million. Initial
shipments from the 1.4 million tonnes per year plant started in early 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Approval
was given in 2004 for expansion of the Hail Creek coal mine in Australia to eight
million tonnes per year at a cost of US&#36;157
million.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F </FONT></I></td>
    <td width="3%" align="right" valign="bottom"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">12</FONT></b></td>
  </tr>
</table>
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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kennecott Land&#146;s Project Daybreak in Utah, US, a mixed use land development on a 1,800 hectare site, started in 2003, with the first land sales in
2004 that are expected to ramp up over a period of five to six years.</FONT></P>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">BUSINESS ENVIRONMENT AND MARKETS</FONT></B></font></p>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Competitive environment</FONT></B><br>
  <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto is a major producer in all the metals and minerals markets in which it operates. It is generally among the top five global producers by volume. It has market shares for
different commodities ranging from five per cent to 40 per cent. The competitive arena is spread across the globe, including eastern Europe, Russia and China.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Most
of Rio Tinto&#146;s competitors are private sector companies which are publicly
quoted. Several are, like Rio Tinto, diversified in terms of commodity exposure,
but others are focused on particular commodity segments. Metal and mineral markets
are highly competitive with few barriers to entry. They can be subject to price
declines in real terms reflecting large productivity gains,
increasing technical sophistication, better management, and advances in information
technology.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">High
quality, long life mineral resources, the basis of good financial returns, are
relatively scarce. Rio Tinto&#146;s ownership of or interest in some
of the world&#146;s largest deposits enables it to contribute to long term market
growth.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">World
      production volumes are likely to grow at least in line with global economic
      activity. The emergence of China and eventually India as major economies
      requiring metals and minerals for development could mean even higher market
growth.</FONT></font></p>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Economic overview</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">World economic activity in 2005 grew by 4.3 per cent on a purchasing power parity basis compared with 5.1 per cent in 2004. This was led by the US and China which grew by 3.6 per cent
and 9.5 per cent respectively. In Asia as a whole growth was 4.5 per cent while Japan grew by 2.5 per cent. Latin America grew by 4.1 per cent. European activity lagged showing growth of 1.6 per cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Inflation generally remained low by historical standards in spite of the large rise in prices of oil and other commodities. This reflected fierce
competition in the manufacturing sector and generally weak labour markets.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During 2005 China&#146;s growth continued to provide momentum to commodity demand offsetting more patchy demand conditions in some OECD countries. At the
same time, with low stocks, production problems, increased input costs and heightened speculative activity in some commodities, the prices of most metals and minerals rose and remained well above the historical trend.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The seaborne iron ore trade continued to grow strongly with China&#146;s iron ore imports nearly 32 per cent above their 2004 level. Price increases of
71.5 per cent during the year underlined the tightness of the market.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The cash cost of copper reached new record highs of over US&#36;2 per pound in December 2005. Over the year the average spot price was US&#36;1.66 per
pound. Speculative activity over the course of the year led to surges in spot prices as market participants scrambled occasionally to meet immediate needs.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Coking coal prices more than doubled with significant increases in Asian demand. Prices for Powder River Basin coal also more than doubled over the year
due to the general tightness of US energy markets and transport issues. Prices for seaborne thermal coal rose by over 20 per cent. Uranium prices also rose strongly during 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium prices rallied strongly throughout the second half of 2005 averaging 86 US cents per pound for the year as a whole. The renewed upward momentum
in prices has been driven in part by fund buying on the expectation of tighter markets in 2006. Factors such as record high alumina prices, announcements of power related smelter shutdowns and a slowdown in Chinese exports all contributed to the
increasingly positive market sentiment.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Demand for industrial minerals such as borates and titanium minerals continued to benefit from solid US demand.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold prices escalated in the latter half of the year and averaged US&#36;444 per ounce for 2005 as a whole. Many less widely traded metals also benefited
from much higher prices, notably molybdenum, which averaged US&#36;31 per pound, a 25 year high.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A discussion of the financial results for the two years to 31 December 2005 is given in the Financial review on pages 39 to 57.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Comments on the financial performance of the individual product groups for the two years to 31 December 2005 are included in the Operating review on
pages 57 to 80. Details of production, reserves and information on Group mines are given on pages 15 to 35. Analyses of Rio Tinto&#146;s revenues by product group, geographical origin and geographical destination have been set out in Notes 32 to 33
to the 2005 Financial statements on pages A-52 to A-55.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Marketing channels</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Each business within each product group is responsible for the marketing and sale of their respective metal and mineral production.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consequently, Rio Tinto has numerous marketing channels, which now include electronic marketplaces, with differing characteristics and pricing
mechanisms.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In general, Rio Tinto&#146;s businesses contract their metal and mineral production direct to end users under long term supply contracts and at
prevailing market prices. Typically, these contracts specify annual volume commitments and an agreed mechanism for determining prices. For example, businesses producing non ferrous metals and minerals</FONT></font></P>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">13</font></b></td>
  </tr>
</table>
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<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reference their sales prices to the London Metal Exchange (LME) or other metal exchanges such as the Commodity Exchange Inc (Comex) in New York. Businesses producing coal and iron ore
would typically reference their sales prices to annually negotiated industry benchmarks. In markets where international reference market prices do not exist or are not transparent, businesses negotiate product prices on an individual customer
basis.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fluctuations in these prices, particularly for aluminium, copper and gold, inevitably affect the Group&#146;s financial results.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s marketing channels include a network of regional sales offices worldwide. Some products in certain geographical markets are sold via
third party agents.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Governmental regulations</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto is subject to extensive governmental regulations affecting all aspects of its operations and consistently seeks to apply best practice in all of its activities. Due to Rio
Tinto&#146;s product and geographical spread, there is unlikely to be any single governmental regulation that could have a material effect on the Group&#146;s business.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s operations in Australia, New Zealand, and Indonesia are subject to state, provincial and federal regulations of general application
governing mining and processing, land tenure and use, environmental requirements, workplace health and safety, trade and export, corporations, competition, access to infrastructure, foreign investment and taxation. Some operations are conducted
under specific agreements with the respective governments and associated acts of parliament. In addition, Rio Tinto&#146;s uranium operations in the Northern Territory, Australia and Namibia are subject to specific regulation in relation to mining
and the export of uranium.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">US and Canada based operations are subject to local and national regulations governing land use, environmental aspects of operations, product and
workplace health and safety, trade and export administration, competition, securities and taxation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The South African Mineral and Petroleum Resources Development Act 2002, as read with the Empowerment Charter for the South African Mining Industry,
targets the transfer (for fair value) of 26 per cent ownership of existing South African mining assets to historically disadvantaged South Africans (HDSAs) within ten years. Attached to the Empowerment Charter is a &#147;scorecard&#148; by which
companies will be judged on their progress towards empowerment and the attainment of the target transfer of 26 per cent ownership. The scorecard also provides that in relation to existing mining assets 15 per cent ownership should vest in HDSAs
within five years of 1 May 2004. Rio Tinto anticipates that the government of South Africa will continue working towards the introduction of new royalty payments in respect of mining tenements, expected to become effective during 2009.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">14</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p15"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">METALS AND MINERALS PRODUCTION</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
  <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;

	</font></TD>
  <TD rowspan="2"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;

	</font></b></TD>
  <TD rowspan="2"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;
    </font></b></TD>
  <TD colspan=3 align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
  <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;
    </font></TD>
  <TD colspan=3 align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
  <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;
    </font></TD>
  <TD colspan="3" align="right"><b><font size="1"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></font></b></TD>
  <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD colspan=3 align="right"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production (a)</font></TD>
  <TD colspan=3 align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
    (a)</font></TD>
  <TD colspan="3" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>Production</b> (a)</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;

	</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto<br>
      </FONT></TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total&nbsp;</font></TD>
	<TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;
	</font></b></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto<br>
      </FONT></TD>
	<TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;
	</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total&nbsp;</font><font size="2">&nbsp;</font></TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><p><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Rio Tinto<br>
      </font></p>
    </TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;Total</b></font><font size="2">&nbsp;</font></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;
	</font></TD>
	<TD align="right"> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
    Tinto<br>
    </FONT></B></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%
    share (b)</font></TD>
  <TD align="right"><font size="2">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></TD>
  <TD align="right"><font size="2">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></TD>
  <TD align="right"><font size="2">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></b></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALUMINA (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Comalco Alumina Refinery (Australia) (c)</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">175</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">175</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">835</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">835</FONT></B></TD>
	<TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Eurallumina (Italy)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">56.2</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,021</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">573</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,064</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">597</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,070</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">601</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Queensland Alumina (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,731</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,440</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,778</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,459</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,953</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,526</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,014</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,231</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,963</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALUMINIUM (refined) (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anglesey (UK)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">141.9</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72.4</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">144.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">143.9</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">73.4</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bell Bay (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">166.6</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">166.6</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">162.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">162.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">173.8</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">173.8</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Boyne Island (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59.4</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">520.9</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">311.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">540.5</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">321.2</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">544.9</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">326.2</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tiwai Point (New Zealand)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">79.4</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">334.4</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">266.5</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">350.3</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">279.5</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">351.4</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">280.3</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">816.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">836.5</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">853.7</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">BAUXITE (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bok&eacute; (Guinea) (d)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,060</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">418</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,773</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">179</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> &#8212;</TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weipa (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,898</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,898</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,649</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,649</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15,474</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15,474</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,316</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,828</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15,474</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">BORATES (&#146;000 tonnes) </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Boron mine (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">541</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">541</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">543</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">543</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">540</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">540</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Borax Argentina (Argentina)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">20</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">20</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">559</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">565</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">560</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COAL &#150; HARD COKING (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Coal Australia </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hail Creek Coal (Australia) (g)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">82.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">883</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">812</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,104</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,633</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,900</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,838</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kestrel Coal (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,873</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,499</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,659</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,127</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,946</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,357</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total hard coking coal</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,311</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,760</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7,195</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COAL &#150; OTHER* (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Coal Australia </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bengalla (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.3</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,203</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,879</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,312</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,609</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,965</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,806</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Blair Athol (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.2</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,480</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,890</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,229</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,712</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">10,600</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7,551</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hunter Valley Operations (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,008</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,091</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,269</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,046</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12,374</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9,369</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kestrel Coal (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,449</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,159</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">623</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">499</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">774</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">619</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mount Thorley Operations (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,153</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,910</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,548</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,149</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,962</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,400</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tarong Coal (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,538</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,538</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,004</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,004</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,470</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,470</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Warkworth (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,868</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,469</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,954</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,926</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,293</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,647</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total Australian other coal</FONT></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31,935</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32,943</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">30,863</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kaltim Prima Coal </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Indonesia) (h)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,655</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,327</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Energy America </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(i)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Antelope (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,806</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,806</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,928</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,928</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">27,174</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">27,174</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Colowyo (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(i)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,535</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,535</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,788</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,788</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,325</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,325</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cordero Rojo (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32,671</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32,671</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35,233</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35,233</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">34,234</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">34,234</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Decker (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,358</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,679</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,831</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,916</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,288</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,144</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Jacobs Ranch (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32,418</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32,418</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,979</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,979</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">33,823</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">33,823</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Spring Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,069</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,069</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,892</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,892</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11,881</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11,881</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total US coal</FONT></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">108,177</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">117,734</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">115,580</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total other coal</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">146,439</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">150,677</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">146,443</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign="top">

  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td width="3%"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</font></td>
    <td><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Coal &#150; other
    includes thermal coal, semi-soft coking coal and semi-hard coking coal.</font></td>
  </tr>
  <tr valign="top">
    <td colspan="2"><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">See
    notes on page 18</font></b></td>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">15</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p16"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">METALS AND MINERALS PRODUCTION continued</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD colspan="3" align="right"><p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003<br>
	</font></p>
    </TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD colspan="3" align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004<br>
    </FONT></TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD colspan="3" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b> 2005<br>
    </b></font></TD>
    <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD colspan="3" align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
    (a)</font></TD>
  <TD colspan="3" align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
    (a)</font></TD>
  <TD colspan="3" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>Production</b> (a)</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD>
    <hr size="1" noshade></TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade></TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
</TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade></TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto<br>
      </FONT></TD>
	<TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total&nbsp;	</font></TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto<br>
      </FONT></TD>
	<TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;Total	</font></TD>
	<TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto<br>
      </FONT></TD>
	<TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;<b>Total</b> </font>	</TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align="right"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
    Tinto<br>
    </FONT></b></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%
    share (b)</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></b></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COPPER (mined) (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Alumbrera (Argentina) (j)</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.9</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.7</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">281.8</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">281.8</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">263.7</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">263.7</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">220.6</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">220.6</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (Chile)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">992.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">297.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,207.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">362.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,270.2</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">381.1</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg &#150; FCX (Indonesia) (k)</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">444.1</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84.5</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">396.4</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.5</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B>&#8212;</B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B>&#8212;</B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg &#150; Joint Venture (Indonesia) (k)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">271.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">108.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">120.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">273.9</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">109.6</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neves Corvo (Portugal) (l)</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">77.5</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46.9</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B>&#8212;</B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B>&#8212;</B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">54.0</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">43.2</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora (South Africa) (m)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.2</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52.4</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25.8</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.4</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26.8</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">61.2</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">30.0</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">867.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">753.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">784.4</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COPPER (refined) (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Atlantic Copper (Spain) (k)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">247.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.4</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (Chile)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">147.6</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">44.3</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">152.1</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45.6</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">143.9</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">43.2</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott Utah Copper (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">230.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">230.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">246.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">246.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">232.0</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">232.0</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora (South Africa) (m)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.2</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73.4</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36.1</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67.5</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.2</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">80.3</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">39.3</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">349.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">332.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">314.5</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DIAMONDS (&#146;000 carats)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Argyle (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,910</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,910</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20,620</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20,620</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">30,476</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">30,476</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diavik (Canada)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,833</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,300</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,575</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,545</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8,272</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,963</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Merlin (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Murowa (Zimbabwe) (n)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">77.8</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">251</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">195</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,272</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25,202</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">35,635</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">GOLD (mined) (&#146;000 ounces)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Alumbrera (Argentina) (j)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">124</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Barneys Canyon (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">305</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">305</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">308</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">308</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">401</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">401</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cortez/Pipeline (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,085</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">434</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,051</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">421</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">904</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">361</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (Chile)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">184</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">217</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">65</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">183</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">55</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg &#150; FCX (Indonesia) (k)</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,456</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">354</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,377</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B>&#8212;</B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B>&#8212;</B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg &#150; Joint Venture (Indonesia) (k)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,806</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">722</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">207</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,676</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">670</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">99</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">86</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">73</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">51</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kelian (Indonesia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">469</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">422</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">328</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">295</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">43</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">38</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lihir (Papua New Guinea) (o)</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">551</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">88</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">599</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">87</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">424</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">61</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Morro do Ouro (Brazil) (p)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">201</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">103</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">188</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">96</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">79</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">57</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">46</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Peak (Australia) (j)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rawhide (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">35</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Zimbabwe (Zimbabwe) (q)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Others</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,731</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,552</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,726</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">GOLD (refined) (&#146;000 ounces)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott Utah Copper (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">308</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">308</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">369</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">369</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IRON ORE (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Channar (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,347</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,208</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,759</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,855</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8,644</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,186</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corumb&aacute; (Brazil)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,074</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,074</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,301</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,301</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,410</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,410</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Eastern Range (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(r)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,970</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,970</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,559</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,559</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley Iron (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63,056</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63,056</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">65,407</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">65,407</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">74,387</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">74,387</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Iron Ore Company of Canada (Canada)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.7</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14,225</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,353</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,139</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,541</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15,647</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9,188</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robe River (Australia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.0</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,136</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23,922</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48,459</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25,684</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">52,385</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">27,764</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,613</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">107,757</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">124,494</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="left"><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">See
    notes on page 18</font></b></TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">16</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p17"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">METALS AND MINERALS PRODUCTION continued</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD colspan="3" align="right"><p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003<br>
      </font></p>
    </TD>
    <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD colspan="3" align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004<br>
    </FONT></TD>
    <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD colspan="3" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b> 2005<br>
    </b></font></TD>
    <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD colspan="3" align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
        (a)</font></TD>
    <TD colspan="3" align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
        (a)</font></TD>
    <TD colspan="3" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>Production</b> (a)</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD>
      <hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto<br>
    </FONT></TD>
    <TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </b></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total&nbsp; </font></TD>
    <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto<br>
    </FONT></TD>
    <TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </b></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;Total </font></TD>
    <TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </b></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto<br>
    </FONT></TD>
    <TD rowspan="2" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </b></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;<b>Total</b> </font> </TD>
    <TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD align="right"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto<br>
    </FONT></b></TD>
    <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%
        share (b)</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></b></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">LEAD (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22.5</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.8</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19.8</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13.9</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16.9</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11.9</FONT></B></TD>
	<TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Zinkgruvan (Sweden) (s)</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.2</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.2</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B>&#8212;</B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <B>&#8212;</B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25.1</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11.9</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MOLYBDENUM (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15.6</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15.6</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">NICKEL (mined) (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fortaleza (Brazil) (t)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">NICKEL (refined) (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Empress (Zimbabwe) (q)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.2</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.5</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.9</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SALT (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dampier Salt (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64.9</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,135</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,633</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,380</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,792</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8,480</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,507</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SILVER (mined) (&#146;000 ounces)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,548</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,548</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,584</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,584</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,958</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,958</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (Chile)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,728</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,418</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,747</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,724</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,565</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,970</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg &#150; FCX (Indonesia) (k)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,659</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">745</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,077</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">79</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg &#150; Joint Venture (Indonesia) (k)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,815</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,126</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,961</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">784</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,410</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,364</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,707</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,226</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,707</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,821</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9,664</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,791</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Zinkgruvan (Sweden) (s)</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,841</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,841</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">651</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">651</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B>&#8212;</B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <B>&#8212;</B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Others</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,511</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,407</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,025</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,187</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,422</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">843</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18,311</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14,830</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">14,926</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SILVER (refined) (&#146;000 ounces)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott Utah Copper (US)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,963</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,963</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,344</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,344</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,538</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,538</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TALC (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Luzenac Group (Australia/Europe/N. America) (u)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,358</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,357</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,444</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,443</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,364</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,364</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TIN (tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neves Corvo (Portugal) (l)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
&#8212;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">203</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">120</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B>&#8212;</B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B>&#8212;</B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TITANIUM DIOXIDE FEEDSTOCK (&#145;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Iron &amp; Titanium (Canada/South Africa) (v)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,192</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,192</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,192</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,192</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,312</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,312</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">URANIUM (tonnes U</FONT></B><B><SUB><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3 </FONT></SUB></B><B><FONT size=2
face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">O</FONT></B><B><SUB><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8 </FONT></SUB></B><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Energy Resources of Australia (Australia)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.4</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,134</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,512</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,143</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,517</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,903</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,037</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">R&ouml;ssing (Namibia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.6</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,401</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,647</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,582</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,457</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,711</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,545</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,158</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,974</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,582</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ZINC (mined) (&#146;000 tonnes)</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.1</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48.5</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">44.1</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">52.9</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37.2</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Zinkgruvan (Sweden) (s)</FONT></TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64.5</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64.5</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B>&#8212;</B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <B>&#8212;</B></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37.2</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
</TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><font size="1">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="left"><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">See
    notes on page 18</font></b></TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">17</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p18"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">METALS AND MINERALS PRODUCTION continued</FONT></B></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD colspan="2" valign=top><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Production
    data notes</font></b></TD>
  </TR>
<TR valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mine production figures for metals refer to the total quantity of metal produced in concentrates or dor&eacute; bullion irrespective of whether these products are then refined onsite,
except for the data for iron ore and bauxite which represent production of saleable quantities of ore.</FONT></TD>
</TR>
<TR valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto percentage share, shown above, is as at the end of 2005 and has applied over the period 2003 &#150; 2005 except for those operations where the share has varied during the
year and the weighted average for them is shown below. The Rio Tinto share varies at individual mines and refineries in the &#147;others&#148; category and thus no value is shown.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 align="center" cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD width=3% align=left><font size="2">&nbsp;</font></TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto share %</FONT></B></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=left>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Operation</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See Note</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=right><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></b></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Atlantic Copper</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(k)</FONT></TD>
	<TD width=2% bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.4</FONT></TD>
	<TD width=2% bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.0</FONT></TD>
	<TD width=2% bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee"><font size="2"> <B>&#8212;</B></font></TD>
	<TD width=2% align=right bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg - FCX</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(k)</FONT></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13.9</FONT></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.8</FONT></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD align=right><font size="2"> <B>&#8212;</B></font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hail Creek</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(g)</FONT></TD>
	<TD bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">92.0</FONT></TD>
	<TD bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90.8</FONT></TD>
	<TD bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">82.0</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lihir</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(o)</FONT></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16.0</FONT></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.5</FONT></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD align=right><font size="2"> <B>&#8212;</B></font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(m)</FONT></TD>
	<TD bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49.2</FONT></TD>
	<TD bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49.2</FONT></TD>
	<TD bgcolor="#eeeeee"><font size="2">&nbsp;</font>
	</TD>
	<TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">49.0</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Comalco Alumina Refinery started production in October 2004.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto completed the sale of its four per cent interest in the Bok&eacute; mine on 25 June 2004. Production data are shown up to the date of sale.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Borate quantities are expressed as B</FONT><SUB><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></SUB><FONT size=1 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">O</FONT><SUB><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></SUB><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Coal Australia manages all the Australian coal operations including the mines which were previously reported separately under the Coal &amp; Allied name.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(g)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hail Creek commenced production in the third quarter of 2003. Rio Tinto reduced its shareholding in Hail Creek from 92.0 per cent to 82.0 per cent on 15 November 2004.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(h)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto had
a 50 per cent share in Kaltim Prima and, under the terms of its Coal Agreement,
the Indonesian Government was entitled to a 13.5 per cent share
of Kaltim Prima&#146;s production. Rio Tinto&#146;s share of production shown
is before deduction of the Government share. Rio Tinto completed the sale of its interest in PT Kaltim Prima Coal on 10 October 2003. Production data are shown up to the date of sale.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(i)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Energy America was formerly known as Kennecott Energy. In view of Rio Tinto Energy America&#146;s responsibilities under a management agreement for the operation of the
Colowyo mine, all of Colowyo&#146;s output is included in Rio Tinto&#146;s share of production.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(j)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto completed the sale of its 25 per cent interest in Minera Alumbrera together with its wholly owned Peak Gold Mine on 17 March 2003. Production data are shown up to the date
of sale.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(k)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">From mid 1995 until 30 March 2004, Rio Tinto held 23.93 million shares of Freeport-McMoRan Copper &amp; Gold (FCX) common stock from which it derived a share of production. This
interest was sold to FCX on 30 March 2004. Also, through a joint venture agreement with FCX, Rio Tinto is entitled, as shown separately in the above tables, to 40 per cent of additional material mined as a consequence of expansions and developments
of the Grasberg facilities since 1998.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(l)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto completed the sale of its 49 per cent interest in Somincor on 18 June 2004. Production data are shown up to the date of sale.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(m)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">During the second half of 2005, the conversion of debentures into ordinary shares resulted in a dilution of Rio Tinto&#146;s shareholding in Palabora from 49.2 per cent to 47.2 per
cent.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(n)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore mining and processing at Murowa commenced during the third quarter of 2004.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(o)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Following a
placement of shares on 13 November 2003 Rio Tinto&#146;s interest in Lihir moved
from 16.3 per cent to 14.5 per cent. On </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">November 2005, Rio Tinto sold its interest in Lihir Gold; it had agreed in September 2005 to relinquish the management agreement for Lihir. The production data are shown up to 30
September 2005, from which date the Rio Tinto interest in Lihir was held as an investment rather than being equity accounted.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(p)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto sold its interest in Morro do Ouro on 31 December 2004. Production data are shown up to the date of sale.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(q)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As a result of the corporate restructuring completed on 8 July 2004, Rio Tinto has ceased to be an ordinary shareholder in the renamed RioZim but will retain a reduced cash
participation in its gold and nickel assets for a period of ten years.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(r)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s share of production includes 100 per cent of the production from the Eastern Range mine, which commenced production in March 2004. Under the terms of the joint
venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(s)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto completed the sale of its 100 per cent interest in the Zinkgruvan mine on 2 June 2004. Production data are shown up to the date of sale.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(t)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto completed the sale of its 100 per cent interest in the Fortaleza nickel mine on 16 January 2004. This was effective from 1 January 2004.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(u)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Talc production includes some products derived from purchased ores.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(v)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Quantities comprise 100 per cent of QIT and 50 per cent of Richards Bay Minerals&#146; production.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">18</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p19"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE RESERVES</FONT></B><BR>
    <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Under Industry Guide 7</FONT></B><br>
</P>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves
        have been prepared in accordance with Industry Guide 7 under the United
    States Securities Act of 1933 and the following definitions:</font></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%"><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">An &#145;Ore
        Reserve&#146; means that part of a mineral deposit that can be economically
        and legally extracted or</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">produced at the time of the reserves determination. To establish
        this, studies appropriate to the type of mineral</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">deposit
        involved have been carried out to estimate the quantity, grade and value
        of the ore mineral(s) present. In</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">addition,
        technical studies have been completed to determine realistic assumptions
        for the extraction
of the</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">minerals
including estimates of mining, processing, economic, marketing, legal, environmental,
social and</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">governmental factors. The degree of these studies is sufficient
to demonstrate the technical and economic</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">feasibility
of the project and depends on whether or not the project is an extension of an
existing project or</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">operation.
The estimates of minerals to be produced include allowances for ore losses and
the treatment of</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">unmineralised
materials which may occur as part of the mining and processing activities. Ore
Reserves are sub-</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">divided in order of increasing confidence into Probable Ore
Reserves and Proven Ore Reserves as defined below.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        term "economically", as used in the definition of reserves, implies that
        profitable extraction or production</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">under defined investment assumptions has been established
        through the creation of a mining plan, processing</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">plan
        and cash flow model. The assumptions made must be reasonable, including
        costs and operating conditions</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">that
    will prevail during the life of the project.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore
        reserves presented in accordance with SEC Industry Guide 7 do not exceed
        the quantities that, it is</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">estimated, could be extracted economically if future prices
        were to be in line with the average of historical prices</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
        the three years to 30 June 2005, or contracted prices where applicable.
        For this purpose, contracted prices are</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">applied
        only to future sales volumes for which the price is predetermined by
        an existing contract;
and the</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">average
of historical prices is applied to expected sales volumes in excess of such amounts.
Moreover, reported</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">ore reserve estimates have not been increased above the levels
expected to be economic based on Rio Tinto's</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">own
long term price assumptions.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        term "legally", as used in the definition of reserves, does not imply
        that all permits needed for mining and</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">processing have been obtained or that other legal issues have
        been completely resolved. However, for reserves to</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">exist,
        there is reasonable assurance of the issuance of these permits or resolution
        of legal issues. Reasonable</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">assurance
        means that, based on applicable laws and regulations, the issuance of
        permits or resolution of
legal</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">issues
necessary for mining and processing at a particular deposit will be accomplished
in the ordinary course of</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">business and in a timeframe consistent with the Company&#146;s
current mine plans.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        term "proven reserves" means reserves for which (a) quantity is computed
        from dimensions revealed in</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">outcrops, trenches, workings or drill holes; grade and/or
        quality are computed from the results of detailed</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">sampling;
        and (b) the sites for inspection, sampling and measurement are spaced
        so closely and the geologic</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">character
        is so well defined that size, shape, depth and mineral content of reserves
        are well established.
Proven</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reserves
represent that part of an orebody for which there exists the highest level of
confidence in data regarding</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">its geology, physical characteristics, chemical composition
and probable processing requirements.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        term "probable reserves" means reserves for which quantity and grade
        and/or quality are computed from</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">information similar to that used for proven reserves, but
        the sites for inspection, sampling and measurement are</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">farther
        apart or are otherwise less adequately spaced. The degree of assurance,
        although lower than that for</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">proven
        reserves, is high enough to assume continuity between points of observation.
        This means that
probable</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reserves
generally have a wider drill hole spacing than for proven reserves.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        amount of proven and probable reserves shown below does not necessarily
        represent the amount of material</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">currently scheduled for extraction, because the amount scheduled
        for extraction may be derived from a life of</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine
        plan predicated on prices and other assumptions which are different to
        those used in the life of mine plan</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">prepared
    in accordance with Industry Guide 7.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        estimated ore reserve figures in the following tables are as of 31 December
        2005. Metric units are used</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">throughout. The figures used to calculate Rio Tinto's share
        of reserves are often more precise than the rounded</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">numbers
        shown in the tables, hence small differences might result if the calculations
        are repeated using the</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">tabulated
    figures. Commodity price information is given in Note (a) on page 28.</font></td>
  </tr>
</table>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">19</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p20"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE
RESERVES continued<br>
Under Industry Guide 7</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="3" align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total
      ore reserves at end</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Type
      of</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="3" align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">mine</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><hr size="1" noshade></TD>
    <TD align="center"><hr size="1" noshade></TD>
    <TD align=center><hr size="1" noshade></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Interest</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Rio
      Tinto</b></font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(b)</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Grade</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><p><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>%
    </b></font></p></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="1"><b> <FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">share</FONT>
      </b></font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade>
</TD>
    <TD align="right"><hr size="1" noshade>
</TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade>
</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade>
</TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Recoverable</b></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>mineral</b></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>millions</b></font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>millions</b></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>BAUXITE
      </b>(d)</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>of
        tonnes</b></font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
        </font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>%Al<SUB>2
        </SUB>O<SUB>3</SUB></b></font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
        </font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
        </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
        </font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>of
        tonnes </b></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mine</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD width=2%>&nbsp;</TD>
    <TD width=8%>&nbsp;</TD>
    <TD width=2%>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD width=2%>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD width=2%>&nbsp;</TD>
    <TD width=8%>&nbsp;</TD>
    <TD width=2%>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD width=2%>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weipa
      (Australia)</font></TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
    <TD width=2%>&nbsp;</TD>
    <TD width=8%>&nbsp;</TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,211</FONT></B></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">53.7</FONT></B></TD>
    <TD width=2%>&nbsp;</TD>
    <TD width=8%>&nbsp;</TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,211</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Marketable</font></b></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">product</font></b></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</font></b></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</font></b></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD><div align="left"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>BORATES </b>(e)

	</font></div></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
<font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>of
        tonnes</B></font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2">&nbsp;</font></TD>
	<TD align="right"><font size="2">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>of
    tonnes</B></font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mine</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Boron (US)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</font></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD width=2% align="right">&nbsp;</TD>
	<TD width=8% align="right">&nbsp;</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">21.3</FONT></B></TD>
	<TD width=2% align="right">&nbsp;</TD>
	<TD width=8% align="right">&nbsp;</TD>
	<TD width=2% align="right">&nbsp;</TD>
	<TD width=8% align="right">&nbsp;</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD width=2% align="right">&nbsp;</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">21.3</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2.1</FONT></B></TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD align="right">&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2.1</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">23.5</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
  <TD><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD colspan=3 align="right">&nbsp;</TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Coal type</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Marketable</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD colspan=3 align="center"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Marketable
    coal quality</font> </TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(g)</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">reserves</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(h)</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(h)</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
</TD>
  <TD align="right"><hr size="1" noshade></TD>
  <TD align="right"><hr size="1" noshade></TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Marketable</b></font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Calorific</b></font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Sulphur</b></font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>reserves</b></font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>millions</b></font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>value</b></font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>content</b></font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>millions</b></font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>COAL </b>(f)</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>of tonnes</B></font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
    </font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>MJ/kg</B></font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
    </font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>%</B></font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
    </font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;

	</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
    </font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>of tonnes</B></font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Energy America </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(k)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Antelope (US) (j)</font></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">384</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">20.59</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.25</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">384</FONT></B></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Colowyo (US) (k)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">20</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">24.48</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.40</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">20</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cordero Rojo (US)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">321</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">19.59</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.31</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">321</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Decker (US)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">22</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">22.10</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.37</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Jacobs Ranch (US)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">456</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">20.35</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.44</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">456</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Spring Creek (US)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">213</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">21.75</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.33</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">213</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total US coal</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,405</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Coal Australia</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bengalla (Australia)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">155</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">28.30</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.50</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.3</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">47</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Blair Athol (Australia)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">50</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">27.95</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.32</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.2</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">36</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hail Creek (Australia)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">184</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">32.20</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.35</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">82.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">151</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hunter Valley Operations</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC + MC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">320</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">28.94</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.57</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.7</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">242</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Australia)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kestrel (Australia)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC + MC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">116</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">32.20</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.65</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">93</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mount Thorley Operations</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC + MC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">23</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">29.48</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.46</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.6</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">14</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Australia)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tarong-Meandu (Australia)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">86</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">21.05</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.30</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">86</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Warkworth (Australia)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC + MC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">262</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">28.87</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.45</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42.1</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">110</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total Australian coal</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">779</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total reserves at operating mines</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,184</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Undeveloped reserves </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(l)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Coal Australia</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clermont (Australia)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">189</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">27.90</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.33</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50.1</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">95</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mount Pleasant (Australia)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">350</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">26.73</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.51</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.7</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">265</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tarong-Kunioon (Australia)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SC</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">163</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">21.05</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.30</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">163</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total undeveloped reserves</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">523</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="right"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><b>
    <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See notes on pages 28 to 29</font></b></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">20</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p21"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE
RESERVES continued<br>
Under Industry Guide 7 </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD rowspan="2" align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD rowspan="2" align=right>
    <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type of</FONT></TD>
  <TD rowspan="2" align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD colspan="3" align=center><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
    ore reserves</font></TD>
  <TD rowspan="2" align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average</font></TD>
  <TD rowspan="2" align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </b></TD>
  <TD rowspan="2" align=center><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</b></TD>
  <TD rowspan="2" align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </b></TD>
  <TD rowspan="2" align=center><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</b></TD>
  <TD rowspan="2" align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD colspan="3" align=center><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at
    end 2005</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mill </font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine</FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=center><hr size="1" noshade></TD>
	<TD align=center><hr size="1" noshade></TD>
	<TD align=center><hr size="1" noshade></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">recovery </FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interest</font></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=right><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
	      Tinto</FONT></b></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</FONT></TD>
	<TD align=center><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</b></TD>
	<TD align=right><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</FONT></b></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><hr size="1" noshade></TD>
	<TD align=center><hr size="1" noshade>
	</TD>
	<TD align="center"><hr size="1" noshade>
</TD>
	<TD align=center><hr size="1" noshade>
	</TD>
	<TD align="center"><hr size="1" noshade>
</TD>
	<TD align=center><hr size="1" noshade>

	</TD>
	<TD align="center"><hr size="1" noshade>
</TD>
	<TD align=center><hr size="1" noshade></TD>
	<TD align="center"><hr size="1" noshade>
</TD>
	<TD align=center><hr size="1" noshade></TD>
	<TD align="center"><hr size="1" noshade>
</TD>
	<TD align=center><hr size="1" noshade></TD>
    <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR valign="bottom">
	<TD rowspan="4" align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>COPPER</b></font></TD>
	<TD rowspan="4" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="3" align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>%Cu</b></FONT></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Recoverable<br>
    </FONT></B></TD>
    <TD rowspan="4" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">metal</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">millions</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  mine</font></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">648</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.55</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">85</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.026</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.38</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">85</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.060</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (Chile)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,065</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.22</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">84</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.274</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide leach mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">661</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.52</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.380</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  oxide mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.56</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">82</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.052</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.23</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">84</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.055</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide leach stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">203</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.65</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.143</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  oxide stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">115</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.66</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">82</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.187</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida Norte (Chile)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">573</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.38</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">89</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2.108</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide leach mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">332</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.59</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">33</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.191</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  oxide mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">120</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.79</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">54</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.153</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2.3</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.51</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">89</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.009</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  sulphide leach stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7.4</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.83</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">33</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.006</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  oxide stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">10</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.46</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">54</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.008</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P + U/G</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,822</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.07</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">89</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(m)</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7.714</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia) (n)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.8</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.67</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">85</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.017</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">52</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.13</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">90</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.426</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora (South Africa) (o)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">142</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.56</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">88</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.2</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.331</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18.140</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>&nbsp;      </TD>
	<TD><font size="1">&nbsp;</font></TD>
	<TD align=right>&nbsp;      </TD>
	<TD><font size="1">&nbsp;</font></TD>
	<TD><font size="1">&nbsp;</font></TD>
	<TD><font size="1">&nbsp;</font></TD>
	<TD align="center"><font size="1">&nbsp;</font></TD>
	<TD><font size="1">&nbsp;</font></TD>
	<TD align=right>&nbsp;      </TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD rowspan="4" align=left><font size="2">
      <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DIAMONDS </font></b><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</font></font></TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">carats<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable<br>
    </FONT></B></TD>
    <TD rowspan="4" align=right><font size="2">&nbsp;</font></TD></TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">diamonds</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">per
    tonne</font></b></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    carats</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Argyle (Australia)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  AK1 pipe mine</font></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">25</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2.9</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">73.5</FONT></B></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  AK1 pipe stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.3</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.9</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.0</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diavik (Canada)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P + U/G</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">28</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.2</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">54.2</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Murowa (Zimbabwe)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">23</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.7</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">77.8</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12.1</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">142.8</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>&nbsp;      </TD>
	<TD>&nbsp;</TD>
	<TD align=right>&nbsp;      </TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD rowspan="4" align=left><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">GOLD</font></b>

	</TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font>

	</TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font>
	</TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">grammes<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable<br>
    </FONT></B></TD>
    <TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">metal</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">per
    tonne</font></b></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    ounces</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  mine</font></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">648</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.32</FONT></B></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=left bgcolor="#eeeeee">
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">63</FONT></B></div></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4.234</FONT></B></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.23</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">63</FONT></B></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.084</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cortez/Pipeline (US) (p)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;	  </TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  mine</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">233</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.38</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">74</FONT></B></div></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.050</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.7</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.89</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">86</FONT></B></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.072</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P + U/G</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,822</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.92</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">74</FONT></B></div></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(m)</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">14.606</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6.4</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.95</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">69</FONT></B></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.394</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia) (n)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;	  </TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.8</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.58</FONT></B></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">76</FONT></B></div></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.043</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">52</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.49</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
      <div align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">76</FONT></B></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.503</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">22.986</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=center><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See
    notes on pages 28 to 29</font></TD>
  <TD align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align="center">&nbsp;</TD>
  <TD align=center>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">21</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p22"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE
RESERVES continued<br>
Under Industry Guide 7 </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD colspan="3"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;Total
    ore reserves<br>
    </font></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average<br>
      </FONT></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD rowspan="2"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type
    of</font><font size="2"> <font face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></font></TD>
  <TD colspan="3"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at
    end 2005</font> </TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mill</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><hr size="1" noshade></TD>
  <TD align="right"><hr size="1" noshade></TD>
  <TD align="right"><hr size="1" noshade></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">recovery</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interest</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto</FONT></b></TD>
  <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</font>    </TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</FONT></b></TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD><hr size="1" noshade>
	</TD>
	<TD><hr size="1" noshade>
	</TD>
	<TD><hr size="1" noshade>
	</TD>
	<TD><hr size="1" noshade>
	</TD>
	<TD><hr size="1" noshade>
	</TD>
	<TD><hr size="1" noshade>
	</TD>
	<TD><hr size="1" noshade>
	</TD>
	 <TD><hr size="1" noshade></TD>
	<TD><hr size="1" noshade>
	</TD>
	 <TD><hr size="1" noshade></TD>
	<TD><hr size="1" noshade>
	</TD>
	<TD><hr size="1" noshade></TD>
    <TD><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR valign="bottom">
	<TD rowspan="4" align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>IRON
	      ORE </b>(d)</font></TD>
	<TD rowspan="4" align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD rowspan="4"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%Fe</FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Marketable<br>
    </FONT></B></TD>
    <TD rowspan="4" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">product</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">millions</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
at operating mines and mines under construction</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Channar (Australia)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman Ore</font></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">109</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">63.5</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=left>&nbsp;

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.0</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">65</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corumb&aacute; (Brazil)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">216</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">67.2</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">216</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Eastern Range (Australia)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman Ore</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">104</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">63.0</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">56</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley (Australia)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman 2 (Brockman Ore) (q)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">62.5</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman 4 (Brockman Ore) (q)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">579</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">62.2</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">579</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Marandoo (Marra Mamba Ore)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">72</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">61.9</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">72</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Mt Tom Price (Brockman Ore)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; &nbsp;mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">138</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">64.6</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">138</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; &nbsp;stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">64.5</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Paraburdoo (Brockman Ore)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">63.8</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Paraburdoo (Marra Mamba Ore)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.0</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">63.1</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Nammuldi (Marra Mamba Ore)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">61.5</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Yandicoogina (Pisolite Ore HG) (r)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; &nbsp;mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">384</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">58.1</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">384</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&#150; &nbsp;stockpiles
 (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.7</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">58.3</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Yandicoogina (Process Product) (r)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; &nbsp;mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">103</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">58.8</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">103</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Iron Ore Company of Canada</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">427</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">65.0</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.7</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">251</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Canada)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robe River (Australia)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Pannawonica (Pisolite Ore) (s)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
 &nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&#150;&nbsp; mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">287</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">57.2</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">152</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;&nbsp; stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">56.9</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8211; West Angelas (Marra Mamba Ore)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; &nbsp;mine</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">393</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">62.2</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">209</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; &nbsp;stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.0</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">59.7</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.0</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
        Tinto total </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(t)</font></TD>
  <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  <TD align="right" bgcolor="#eeeeee">&nbsp; </TD>
  <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  <TD align="right" bgcolor="#eeeeee">&nbsp; </TD>
  <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  <TD align="right" bgcolor="#eeeeee">&nbsp; </TD>
  <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  <TD align="right" bgcolor="#eeeeee">&nbsp; </TD>
  <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  <TD align="right" bgcolor="#eeeeee">&nbsp; </TD>
  <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2.339</FONT></B></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp; </TD>
</TR>
<TR valign="bottom">
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>&nbsp;      </TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD rowspan="4" align=left><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">LEAD</font></b>

	</TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font>

	</TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font>
	</TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%Pb</FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable<br>
    </FONT></B></TD>
    <TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">metal</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mine</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</font></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
	<TD width=2% align="right" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6.4</FONT></B></TD>
	<TD width=2% align="right" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.93</FONT></B></TD>
	<TD width=2% align="right" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67</font></TD>
	<TD width=2% align="right" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</font></TD>
	<TD width=2% align="right" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.119</FONT></B></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>&nbsp;      </TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD align=right>&nbsp;      </TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD rowspan="4" align=left><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MOLYBDENUM</font></b>

	</TD>
	<TD rowspan="4" align=left><font size="2">&nbsp;</font>

	</TD>
	<TD rowspan="4"><font size="2">&nbsp;</font>
	</TD>
	<TD rowspan="3" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%Mo</FONT></B></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font></TD>
	<TD align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable<br>
    </FONT></B></TD>
    <TD rowspan="4" align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">metal</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</font></b></TD>
</TR>
<TR valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mine</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</font></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">648</FONT></B></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.043</FONT></B></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59</font></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.164</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; stockpiles (i)</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18</FONT></B></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.034</FONT></B></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59</font></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.004</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto total</FONT></B></TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.168</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD height="19" align="left"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See notes
    on pages 28 to 29</font></TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">22</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p23"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE
RESERVES continued<br>
Under Industry Guide 7 </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan=3 align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Total ore reserves</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type
      of</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan=3 align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      at end 2005</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mill</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">recovery</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interest</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto</FONT></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">share</FONT></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SILVER</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">metal</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">grammes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">per
      tonne</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      ounces</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mines</FONT></B></TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham
      Canyon (US)</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      mine</font></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">648</FONT></B></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2.62</FONT></B></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">41.243</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      stockpiles (i)</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.73</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.769</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg
      (Indonesia)</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P
      + U/G</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,822</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4.02</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(m)</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">70.235</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens
      Creek (US)</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6.4</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">505</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">53.273</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto total</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">165.520</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Marketable</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TALC
      </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</font></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">product</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mines</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Luzenac
      Group (Europe /</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">North
      America / Australia)</font></TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P
      + U/G</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">48.7</FONT></B></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=8% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=8% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">48.7</FONT></B></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Marketable</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TITANIUM
      DIOXIDE</FONT></B></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">product</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FEEDSTOCK
      </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)
      (u)</font></font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mines</FONT></B></TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">QIT
      (Canada)</font></TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">60.3</FONT></B></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=8% bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=8% bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">60.3</FONT></B></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">QMM
      (Madagascar)</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">D/O</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12.4</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.0</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9.9</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RBM
      (South Africa)</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">D/O</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">25.9</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50.0</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">13.0</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto total</FONT></B></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">83.2</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">URANIUM</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">metal</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>%U<SUB>3
      </SUB>0<SUB>8</SUB></B>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mines</FONT></B></TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Energy
      Resources of Australia</font></TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD height="22" align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Australia)</font></TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      Ranger #3 mine</font></TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12.9</FONT></B></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.231</FONT></B></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">89</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.4</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.0181</FONT></B></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      Ranger #3 stockpiles (i)</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9.9</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.149</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">86</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.0087</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">R&ouml;ssing
      (Namibia) (v)</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      mine</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">37</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.037</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">85</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.6</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.0080</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      stockpiles (i)</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.1</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.031</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">85</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.6</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.0002</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto total</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.0349</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ZINC</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">metal</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%Zn</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mine</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens
      Creek (US)</font></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
    <TD width=2% align="right">&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6.4</FONT></B></TD>
    <TD width=2% align="right">&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">10.3</FONT></B></TD>
    <TD width=2% align="right">&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">77</font></TD>
    <TD width=2% align="right">&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.3</font></TD>
    <TD width=2% align="right">&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.357</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD align="left"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See
      notes on pages 28 to 29</font></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">23</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p24"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE
RESERVES continued<br>
Under Industry Guide 7 </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type
      of</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan=5 align="center"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Proven
      ore reserves</FONT> </TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD colspan=5 align="center"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Probable
      ore reserves</FONT> </TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan="5" align="center"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at
      end 2005</FONT> </TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD colspan="5" align="center"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at
      end 2005</FONT> </TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill
      hole</FONT> </TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill
      hole</FONT> </TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing
      (c)</FONT> </TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing
      (c)</FONT> </TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">BAUXITE
      </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</font></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>%Al<SUB>2
      </SUB>O<SUB>3</SUB></B>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>%Al<SUB>2
      </SUB>O<SUB>3</SUB></B>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mine</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weipa
      (Australia)</font></TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">137</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.9</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76m</font></TD>
    <TD width=2% align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,074</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.7</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">400m</font></TD>
    <TD width=2% align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">BORATES
      </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</font></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      tonnes</FONT></B></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mine</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Boron
      (US)</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      mine</font></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16.1</font></TD>
    <TD width=2%>&nbsp;</TD>
    <TD width=8%>&nbsp;</TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61m</font></TD>
    <TD width=2% align=left>&nbsp;</TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.3</font></TD>
    <TD width=2%>&nbsp;</TD>
    <TD width=8%>&nbsp;</TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61m</font></TD>
    <TD width=2% align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      stockpiles (i)</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.2</font></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.0</font></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
      </b></font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"> <font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%
      Yield to</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="7" align="center"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Marketable
      Reserves</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Recoverable</font>      </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">give</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><hr size="1" noshade> </TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade> </TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade> </TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade> </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">reserves</font>      </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">marketable</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Drill
      hole</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Drill
      hole</font> </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">total &nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">reserves</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Proven&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">spacing
      (c)</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;Probable</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">spacing
      (c)</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="2" align=left><font size="2"><b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COAL
      </font></b><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f)</font></font></TD>
    <TD rowspan="2" align="right"><font size="2">&nbsp;</font></TD>
    <TD rowspan="2" align="right"><font size="2">&nbsp;</font> </TD>
    <TD align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
    <TD rowspan="2" align="right"><font size="2">&nbsp;</font></TD>
    <TD rowspan="2" align=right><font size="2">&nbsp;</font></TD>
    <TD rowspan="2" align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
    <TD rowspan="2" align="right"><font size="2">&nbsp;</font></TD>
    <TD rowspan="2" align=right><font size="2">&nbsp;</font></TD>
    <TD rowspan="2" align="right"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">millions<br>
    </FONT></B></TD>
    <TD rowspan="2" align="right"><font size="2">&nbsp;</font> </TD>
    <TD rowspan="2" align=right><font size="2">&nbsp;</font> </TD>
    <TD rowspan="2" align=right><font size="2">&nbsp;</font> </TD>
  </TR>
  <TR valign="bottom">
    <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
    <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
    <TD align=right><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
    tonnes</font></b></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
      at operating mines</FONT></B></TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto Energy America</FONT></B></TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Antelope
      (US) (j)</font></TD>
    <TD width=8% align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      384</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">384</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      450m</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=left bgcolor="#eeeeee"> </TD>
    <TD width=2% align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Colowyo
      (US) (k)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      20</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      250m</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.9</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      365m</font></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cordero
      Rojo (US)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      321</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">321</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      250m</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Decker
      (US)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      22</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      250m</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Jacobs
      Ranch (US)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      456</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">452</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      300m</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.3</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      450m</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Spring
      Creek (US)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      213</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">213</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      250m</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto Coal Australia</FONT></B></TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bengalla
      (Australia)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      190</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">81</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">92</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">350m</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">500m</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Blair
      Athol (Australia)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      51</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">99</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">150m</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.6</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">150m</font></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hail
      Creek (Australia)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      291</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">104</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300m</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">400m</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hunter
      Valley Operations (Australia)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      469</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">247</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300m</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">500m</font></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kestrel
      (Australia)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      145</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">500m</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1000m</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mount
      Thorley Operations (Australia)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      35</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">66</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125m</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.5</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">500</font></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tarong-Meandu
      (Australia)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      128</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">79</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200m</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.0</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">400m</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Warkworth
      (Australia)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      408</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">162</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">450m</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
      1000m</font></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Undeveloped
      reserves </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(l)</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto Coal Australia</FONT></B></TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clermont
      (Australia)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">      197</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">96</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">163</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">220m</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">150m
      to 300m</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mount
      Pleasant (Australia)</font></TD>
    <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">      459</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">350</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125m
      to 500m</font></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tarong-Kunioon
      (Australia)</font></TD>
    <TD align="right" bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/C</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">      257</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">163</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">400m</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align="right"><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=left><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See
      notes on pages 28 to 29</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">24</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p25"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE RESERVES continued Under Industry Guide 7</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type
	      of</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan=5 align=center>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Proven
    ore
reserves at end 2005</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan=5 align=center>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Probable
    ore
reserves at end 2005</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right>
    <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine</FONT></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  <TD colspan="5" align=center><HR noshade size=1></TD>
  <TD align=center><font size="2">&nbsp;</font></TD>
  <TD colspan="5" align=center><HR noshade size=1></TD>
  <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> (b)</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Tonnage</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill hole </FONT>	</TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill hole</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing
	      (c)</font>    </TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing
    (c)</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD><HR noshade size=1></TD>
  <TD align=right><HR noshade size=1></TD>
  <TD><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD align=right><HR noshade size=1></TD>
  <TD><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">COPPER</FONT></B></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>millions</B></FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>millions</B></FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>of tonnes</B></FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>%Cu</B></FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>of tonnes</B></FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>%Cu</B></FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves
at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</FONT></TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">315</FONT></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.62</FONT></TD>
	<TD width="2%" align=left>&nbsp;

	</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max 90m</FONT></TD>
	<TD width="2%" align=left>&nbsp;</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">333</FONT></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.48</FONT></TD>
	<TD width="2%" align=left>&nbsp;

	</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max 110m</FONT></TD>
	<TD width="2%" align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.6</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.34</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.40</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (Chile)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">536</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.37</FONT></TD>
	<TD align=center bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55m</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">529</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.06</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide leach mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">263</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.52</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">398</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.53</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; oxide mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.67</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.52</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.23</FONT></TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide leach stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">203</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.65</FONT></TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; oxide stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">115</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.66</FONT></TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida Norte (Chile)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=center>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">192</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.65</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48m</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.25</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide leach mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.54</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to 54m</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">281</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.60</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; oxide mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">120</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.79</FONT></TD>
	<TD align=center>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.3</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.51</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; sulphide leach stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.83</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; oxide stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.3</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.46</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P + U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">783</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.13</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13m to 60m</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,040</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.03</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42m to 102m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia) (n)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.67</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.13</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40 x 40 x 80m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora (South Africa) (o)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">112</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.67</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75m</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.17</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    <B>DIAMONDS </B>(d)</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
carats</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
carats</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
per tonne</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
per tonne</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Argyle (Australia)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; AK1 pipe mine</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.0</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50m x 50m</FONT></TD>
	<TD width=2%>&nbsp;</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.9</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.7</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50m x 50m</FONT></TD>
	<TD width=2% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; AK1 pipe stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.3</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.9</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diavik (Canada)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P + U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27m to 30m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30m to 34m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Murowa (Zimbabwe)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">GOLD</FONT></B></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
grammes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
grammes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
per tonne</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
per tonne</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">315</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.35</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max 90m</FONT></TD>
	<TD width=2%>&nbsp;</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">333</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.29</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
	    110m</FONT></TD>
	<TD width=2% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.6</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.19</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.24</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cortez/Pipeline (US) (p)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">86</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.94</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30m to 43m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">147</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.05</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30m
	    to 43m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.89</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P + U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">783</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.01</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13m to 60m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,040</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.89</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42m
	    to 102m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.95</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15m
	    to 30m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia) (n)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; stockpiles (i)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.58</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.49</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40
	    x 40 x 80m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See
      notes on pages 28 to 29</FONT></TD>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">25</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p26"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE
RESERVES continued<br>
Under Industry Guide 7</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Proven ore reserves</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Probable ore reserves</FONT> </TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at end 2005</FONT>	</TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at end 2005</FONT> </TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center><HR noshade size=1>
	</TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center><HR noshade size=1>
	</TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b) </FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill hole</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill
	    hole</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing (c)</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing
	    (c)</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    <B>IRON ORE </B>(d)</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>millions</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>millions</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>of tonnes</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>%Fe</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>of tonnes</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
<B>%Fe</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">and mines under construction</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Channar (Australia)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman Ore</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">96</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.5</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m x 60m</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.6</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=10% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
	    120m</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corumb&aacute; (Brazil)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67.2</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100m x 100m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">106</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67.2</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200m
	    x 400m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Eastern Range (Australia)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman Ore</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m x 60m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
	    120m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley (Australia)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman 2 (Brockman Ore) (q)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.5</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50m x 50m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.5</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
	    100m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Brockman 4 (Brockman Ore) (q)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">579</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.2</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200m
	    x 100m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Marandoo (Marra Mamba Ore)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75m x 75m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.9</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61.9</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
	    150m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Mt Tom Price (Brockman Ore)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> mine</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">101</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30m x 30m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m
	    x 30m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64.5</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Paraburdoo (Brockman Ore)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30m x 30m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.9</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.6</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m
	    x 30m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Paraburdoo (Marra Mamba Ore)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.1</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m
	    x 60m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Nammuldi (Marra Mamba Ore)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.5</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m x 60m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61.4</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">120m
	    x 120m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Yandicoogina (Pisolite Ore HG) (r)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">250</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.3</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50m x 50m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">133</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">57.8</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100m
	    x 50m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> stockpiles (i)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.7</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.3</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=left bgcolor="#eeeeee">&nbsp; </TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Yandicoogina (Process Product) (r)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50m x 50m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.8</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100m
	    x 50m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Iron Ore Company of Canada</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">346</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">65.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">122m x 61m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">81</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">65.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">122m
	    x 122m</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Canada)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robe River (Australia)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; Pannawonica (Pisolite Ore) (s)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">246</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">57.2</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25m x 25m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">57.1</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
	    200m x 50m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> stockpiles (i)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.8</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">57.0</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">56.9</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp; </TD>
	<TD align=left bgcolor="#eeeeee">&nbsp; </TD>
	<TD bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; West Angelas (Marra Mamba Ore)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">134</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.8</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25m x 25m</FONT></TD>
	<TD>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">260</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61.9</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200m
	    x 50m</FONT></TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
 <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&#150;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">LEAD</FONT></B></TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
%Pb</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
%Pb</font></b></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mine</FONT></B></TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp; </TD>
	<TD>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</FONT></TD>
	<TD width=2% align="right">&nbsp; </TD>
	<TD width=8% align=right>&nbsp;</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>&nbsp;

	</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>&nbsp;

	</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.4</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.93</FONT></TD>
	<TD width=2% align="right">&nbsp; </TD>
	<TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15m
	    to 30m</FONT></TD>
	<TD width=2%>&nbsp;</TD>
  </TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1></TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1></TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1></TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1></TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MOLYBDENUM</FONT></B></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>millions</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>millions</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>of tonnes</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>%Mo</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>of tonnes</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>%Mo</B>&nbsp;
	</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mine</FONT></B></TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align="right">&nbsp; </TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; mine</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">315</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.040</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max 90m</FONT></TD>
	<TD width=2% align="left">&nbsp;</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">333</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.045</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=10% align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
    110m</FONT></TD>
	<TD width=2% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.6</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.035</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.033</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align="right">&nbsp; </TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>

    <td><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See
        notes on pages 28 to 29</FONT></TD>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">26</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p27"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE
RESERVES continued<br>
Under Industry Guide 7 </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type of</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Proven ore reserves</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Probable ore reserves</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mine</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at end 2005</FONT> </TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD colspan="5" align=center>      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at end 2005</FONT> </TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
  <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</font></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  <TD colspan="5" align=center><HR noshade size=1></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  <TD colspan="5" align=center><HR noshade size=1></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>
    </b></FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill hole</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tonnage</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grade</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill
	    hole</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing (c)</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">spacing
	    (c)</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SILVER</FONT></B></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
grammes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
grammes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
per tonne</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
per tonne</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  mine</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">315</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.87</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max 90m</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">333</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.38</FONT></TD>
	<TD width=2%>&nbsp; </TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">max
	    110m</FONT></TD>
	<TD width=2%>&nbsp; </TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.6</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.53</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.79</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P + U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">783</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.95</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13m to 60m</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,040</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.04</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42m
	    to 102m</FONT></TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">505</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15m
	    to 30m</FONT></TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    <B>TALC </B>(e)</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> of
	      tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> of
	      tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Luzenac Group (Europe / North</FONT></TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P
	    + U/G</FONT></TD>
	<TD width=2% align="right">&nbsp; </TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31.1</FONT></TD>
	<TD width=2% align="right">&nbsp; </TD>
	<TD width=8% align=right>&nbsp;</TD>
	<TD width=2% align="right">&nbsp; </TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15m
	    to 60m</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17.6</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>&nbsp;</TD>
	<TD width=2% align=right>&nbsp;</TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15m
	    to 100m</FONT></TD>
	<TD width=2%>&nbsp; </TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">America / Australia)</FONT></TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align=right>&nbsp; </TD>
	<TD align=right>&nbsp; </TD>
	<TD>&nbsp; </TD>
  </TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">TITANIUM DIOXIDE</FONT></B></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    <B>FEEDSTOCK </B>(e) (u)</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> of
	      tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> of
	      tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp; </TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">QIT (Canada)</FONT></TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width=2%>&nbsp; </TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.8</FONT></TD>
	<TD width=2%>&nbsp; </TD>
	<TD width=8% align=right>&nbsp;</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m
	    x 60m</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21.5</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>&nbsp;</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100m
	    x 100m</FONT></TD>
	<TD width=2% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">QMM (Madagascar)</FONT></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">D/O</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.0</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200m
	    x 100m</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.4</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">400m
	    x 200m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RBM (South Africa)</FONT></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">D/O</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.2</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right>&nbsp;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50m
	    x 50m</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19.7</FONT></TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">800m
	    x 100m</FONT></TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">URANIUM</FONT></B></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b> %U<SUB>3 </SUB>0<SUB>8</SUB>&nbsp; </b></FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b> %U<SUB>3 </SUB>0<SUB>8</SUB>&nbsp; </b></FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mines</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD height="22" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Energy Resources of Australia</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Australia)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  Ranger #3 mine</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.5</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.25</FONT></TD>
	<TD width=2% align=right>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&lt;30m</FONT></TD>
	<TD width=2% align=left>&nbsp;</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.4</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.22</FONT></TD>
	<TD width=2% align=right>&nbsp;
	</TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&gt;30m
	    x &lt;70m</FONT></TD>
	<TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  Ranger #3 stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.9</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.15</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">R&ouml;ssing (Namibia) (v)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  mine</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.048</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20m x 20m</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.3</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.036</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60m
	    x 120m</FONT></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;  stockpiles (i)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">S/P</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.1</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.031</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ZINC</FONT></B></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
millions</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
%Zn</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
of tonnes</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
%Zn</font></b></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Reserves at operating mine</FONT></B></TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;</TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp;
	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD align="right">&nbsp; </TD>
	<TD align=right>&nbsp; </TD>
	<TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">U/G</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>&nbsp;

	</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>&nbsp;

	</TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>&nbsp;</TD>
	<TD width=2% align="right">&nbsp; </TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.4</FONT></TD>
	<TD width=2% align="right">&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.3</FONT></TD>
	<TD width=2% align="right">&nbsp; </TD>
	<TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15m
	    x 30m</FONT></TD>
	<TD width=2% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=left><HR noshade size=1>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>

    <td><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See
        notes on pages 28 to 29</FONT></TD>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">27</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p28"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE RESERVES continued</FONT></B><BR>
    <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Under Industry Guide 7 </FONT></B></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD colspan="2" valign=top><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</font></b></TD>
  </TR>
<TR>
	<TD width="3%" valign=top>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Commodity prices (based on a three year average historical price to 30 June 2005) used to test whether the reported reserve estimates could be economically extracted, include the
following benchmark prices:</FONT></TD>
</TR>
<TR>
  <TD colspan=2>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 align="center" cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>Ore reserve</B></FONT></TD>
	<TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>Unit</B></FONT></TD>
	<TD align="center"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;</FONT></B>
	</TD>
	<TD align=center><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1></TD>
  <TD align=right><HR noshade size=1></TD>
  <TD align="right"><HR noshade size=1></TD>
  <TD align=right><HR noshade size=1></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>ALUMINIUM</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weipa (Australia)</FONT></TD>
	<TD width=8% align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD width=2% align="right"><font size="1">&nbsp;</FONT></TD>
	<TD width=8% align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.72</FONT></TD>
	<TD width=2% align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>COPPER</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.05</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (Chile)*</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.94</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida Norte (Chile)*</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.94</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)*</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.90</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.05</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora (South Africa)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.05</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>GOLD</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cortez / Pipeline (US)*</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)*</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">350</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes (Australia)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>LEAD</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.31</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>MOLYBDENUM</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13.0</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>SILVER</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.79</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg (Indonesia)*</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.00</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.79</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>ZINC</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (US)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.44</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">* = non managed operations</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="1">&nbsp;</font></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>IRON ORE</B></FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right><font size="1">&nbsp;</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian benchmark (fines)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">dmtu**</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.34</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Atlantic benchmark (fines)</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">dmtu**</FONT></TD>
	<TD align="right"><font size="1">&nbsp;</FONT></TD>
	<TD align=right>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.36</FONT></TD>
	<TD align=left><font size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD align="right"><HR noshade size=1>
  </TD>
  <TD align=right><HR noshade size=1>
  </TD>
  <TD align=left><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="left" valign="top">
  <TD colspan="2"> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">** =
    dry metric tonne unit</font></TD>
  </TR>
<TR align="left" valign="top">
  <TD width="3%"></TD>
  <TD>&nbsp;</TD>
</TR>
<TR align="left" valign="top">
<TD width="3%"></TD>
<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Prices for all other commodities are determined by individual contract negotiation. The reported reserves for these commodities have been tested to confirm that they could be
economically extracted using a combination of existing contract prices until expiry and thereafter three year historical prices.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Type of mine: O/P = open pit, O/C = open cut, U/G = underground, D/O = dredging operation, S/P = stockpile.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Drill hole spacings are either average distances, a specified grid distance (a regular pattern of drill holes - the distance between the drill holes along the two axes of the grid
will be aligned to test the size, shape and continuity of the mineral deposit; as such there may be different distances between the drill holes along the two axes of a grid) or the maximum drill hole spacing that is sufficient to determine the
reserve category for a particular deposit. As the continuity of mineralisation varies from deposit to deposit, the drill hole spacing required to categorise a reserve varies between and within deposit types.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves of iron ore, bauxite and diamonds are shown as recoverable reserves of saleable product after accounting for all mining and processing losses. Mill recoveries are therefore
not shown.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%" height="15"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</FONT></TD>
	<TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves of industrial minerals are expressed in terms of marketable product, i.e. after all mining and processing losses. In the case of borates, the saleable product is
B</FONT><SUB><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></SUB><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O</FONT><SUB><FONT size=1 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">3</FONT></SUB><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Coal reserves are shown as both recoverable and marketable. The yield factors shown reflect the impact of further processing, where necessary, to provide marketable coal. All reserves
at operating mines are assigned, all undeveloped reserves are unassigned. By &#147;assigned&#148; and &#147;unassigned,&#148; we mean the following: assigned reserves means coal which has been committed by the coal company to operating mine shafts,
mining equipment, and plant facilities, and all coal which has been leased by the company to others; unassigned reserves represent coal which has not been committed, and which would require new mineshafts, mining equipment, or plant facilities
before operations could begin in the property.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(g)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Coal type: SC = steam/thermal coal; MC = metallurgical/coking coal.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%" >
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(h)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Analyses of coal from the US were undertaken according to "American Standard Testing Methods" (ASTM) on an "As Received" moisture basis whereas the coals from Australia have been
analysed on an "Air Dried" moisture basis according to Australian Standards (AS).</FONT></TD>
</TR>
<TR align="left" valign="top"><TD width="3%">&nbsp;</TD>
<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MJ/kg = megajoules per kilogramme. 1 MJ/kg = 430.2 Btu/lb.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(i)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Stockpile components of reserves are shown for all operations, where relevant.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(j)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The addition of the West Antelope lease to the project has substantially increased the available ore reserve tonnage.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(k)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Energy America was formerly known as Kennecott Energy. In view of Rio Tinto Energy America&#146;s responsibilities under a management agreement for the operation of the
mine, all of Colowyo's reserves are included in Rio Tinto's share shown above.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(l)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The term 'undeveloped reserves' is used here to describe material that is economically viable on the basis of technical and economic studies but for which construction and
commissioning have yet to commence.</FONT></TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">28</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p29"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ORE RESERVES continued</FONT></B><BR>
    <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Under Industry Guide 7</FONT></B></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="left" valign="top">
	<TD width="3%" valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(m)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under the terms of a joint venture agreement between Rio Tinto and Freeport-McMoRan Copper &amp; Gold (FCX), Rio Tinto is entitled to a direct 40 per cent share in reserves discovered
after 31 December 1994 and it is this entitlement that is shown.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(n)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit mining at Northparkes was completed in 2005, whilst underground reserves increased following updated technical and economic studies.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(o)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves at Palabora have decreased following a reassessment of grade and of dilution effects from the open pit. During the second half of 2005, the conversion of debentures into
ordinary shares resulted in a dilution of Rio Tinto&#146;s shareholding in Palabora from 49.2 per cent to 47.2 per cent.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(p)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Portions of the Cortez Hills and Pipeline deposit reserves were reclassified as mineralised material following technical and economic reviews of the mine plans. The Crossroads
extension to the Pipeline mine was added to reserves in 2005.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(q)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Brockman reserves have increased following the development of new geological models and approved mine design extensions.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(r)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Yandicoogina reserves have increased following the development of updated geological models and the approval of mine design and project expansions.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(s)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pannawonica reserves have increased following revision and updating of geological models and mine designs, leading to the inclusion of reserves for the Mesa A deposit.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(t)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">During 2005, Rio Tinto entered into an agreement to purchase a 50 per cent interest in the Hope Downs iron ore project. As at 31 December 2005 the purchase of Hope Downs was
proceeding and was subject to various regulatory approvals, and so no reserves have been reported.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(u)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves for the titanium dioxide operations are presented separately for the first time including those for QMM following successful completion of technical and economic
studies.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(v)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The increased reserves at R&ouml;ssing reflect the transfer of mineralised material to reserves on the basis of updated technical and economic studies.</FONT></TD>
</TR>
<TR align="left" valign="top">
	<TD valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(w)</FONT></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves for the following deposits are no longer shown: Lihir (Papua New Guinea) in which Rio Tinto's interest was sold during 2005 and Jabiluka (Australia) where additional work on
the technical aspects and review of permitting and legal requirements led to a re-assessment of the deposit under Industry Guide 7.</FONT></TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">29</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p30"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">GROUP
          OPERATIONS </font></b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(wholly
    owned unless stated otherwise)</FONT></TD>
  </tr>
  <tr>
    <td><img src="b832238x31x1.jpg" width="100%" border=0></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
  </tr>
</table>
<div style="float: left; width: 22%">
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="top">
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALUMINIUM</FONT></B></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating sites</FONT></B></TD>
</TR>
<TR valign="top">
	<TD width="5%" align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1</FONT></B></TD>
	<TD width="2%" align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anglesey Aluminium (51%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bell Bay</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Boyne Island (59%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Comalco Alumina Refinery</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gladstone Power
Station
(42%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Queensland Alumina (39%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Eurallumina (56%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tiwai Point (79%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weipa</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2">&nbsp;</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">BORATES</FONT></B></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2">&nbsp;</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating sites</FONT></B></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Boron</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Coudekerque Plant</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tincalayu</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">10</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Wilmington Plant</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2">&nbsp;</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COAL</FONT></B></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2">&nbsp;</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating sites</FONT></B></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Antelope</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bengalla (30%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">13</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Blair Athol (71%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">14</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Colowyo (20%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cordero Rojo</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Decker (50%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">13</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hail Creek (82%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hunter Valley Operations
(76%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Jacobs Ranch</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">17</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kestrel (80%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mt Thorley
Operations
(61%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Spring Creek</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">18</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tarong</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Warkworth (42%)</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2">&nbsp;</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Projects</FONT></B></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">13</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clermont (50%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">12</FONT></B></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mt Pleasant (76%)</FONT></TD>
</TR>
</TABLE>
</div>
<div style="float: left; width: 4%"></div>
<div style="float: left; width: 22%">
  <TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <b>COPPER
      AND GOLD</b> </FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Operating sites</B></FONT></TD>
</TR>
<TR valign="top">
	<TD width=5% align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>20</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bougainville (not
    operating) </FONT><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(54%)</font></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>21</B></FONT></TD>
	<TD width="2%" align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Cortez/Pipeline (40%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>22</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Escondida (30%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>23</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Grasberg joint venture (40%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>24</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Kelian (90%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>19</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Kennecott Utah Copper</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>25</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Northparkes (80%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>26</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Palabora (47%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>27</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Rawhide (51%)</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Projects</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>28</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Resolution (55%)</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>DIAMONDS</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Operating sites</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>29</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Argyle</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>30</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Diavik (60%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>31</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Murowa (78%)</FONT></TD>
</TR>
</TABLE>
</div>
<div style="float: left; width: 4%"></div>
<div style="float: left; width: 22%">
  <TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>IRON ORE</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Operating sites</B></FONT></TD>
</TR>
<TR valign="top">
	<TD width=5% align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>32</B></FONT></TD>
	<TD width="2%" align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Corumb&aacute;</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>33</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Hamersley Iron mines:</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Brockman</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Marandoo</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Mt Tom Price</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Paraburdoo</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Yandicoogina</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Channar (60%)</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> Eastern
      Range (54%) </FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>33</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Robe River mines: (53%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    West Angelas</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Pannawonica</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>34</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2">
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">HIsmelt<SUP>&reg; </SUP></FONT><FONT face="TimesNewRomanPSMT,Times New
Roman,Times,serif">(60%)</FONT></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>35</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Iron Ore Company of</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Canada (59%)</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Projects</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>33</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Hope Downs (50%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>36</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    IOC Pellet Plant (59%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>37</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Simandou</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>38</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Orissa (51%)</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>NICKEL</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Projects</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>39</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Eagle</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>POTASH</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Projects</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>40</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Rio Colorado Potash</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>SALT</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>Operating sites</B></FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>41</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Dampier (65%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>42</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Lake MacLeod (65%)</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>41</B></FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
    Port Hedland (65%)</FONT></TD>
</TR>
</TABLE>
</div>
<div style="float: left; width: 4%"></div>
<div style="float: right; width: 22%">
  <TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TALC</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating
        sites</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(only
        major sites are</font></b> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">shown)</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD width=5% align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">43</FONT></B></TD>
      <TD width="2%" align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ludlow</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">44</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Talc
        de Luzenac</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">45</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Yellowstone</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">46</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Three
        Springs</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
    </TR>
    <TR valign="top">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TITANIUM
        DIOXIDE</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FEEDSTOCK</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating
        sites</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">47</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">QIT-Fer
        et Titane Lac Allard</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">48</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">QIT-Fer
        et Titane Sorel Plant</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">49</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richards
        Bay Minerals (50%)</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
    </TR>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Projects</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">50</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">QIT
        Madagascar Minerals (80%)</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
    </TR>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">URANIUM</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating
        sites</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">51</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ERA
        (68%)</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">52</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">R&ouml;ssing
        (69%)</FONT></TD>
    </TR>
    <TR valign="top">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
    </TR>
    <TR valign="top">
      <TD align=left>&nbsp;</TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ZINC,
        LEAD, SILVER</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left><font size="2">&nbsp;</FONT></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating
        sites</FONT></B></TD>
    </TR>
    <TR valign="top">
      <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">53</FONT></B></TD>
      <TD align=left>&nbsp;</TD>
      <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens
        Creek (70%)</FONT></TD>
    </TR>
  </TABLE>
</div><br clear="all">
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F </font></i></td>
    <td width="3%"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">30</FONT></B></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p31"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INFORMATION ON GROUP MINES </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto interest 100 per cent unless otherwise shown)</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="top">
  <TD align=left>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Mine</FONT></I></B>
	</TD>
	<TD align=left><font size="2">&nbsp;</FONT></TD>
	<TD align=left>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Location</FONT></I></B></TD>
	<TD align="left"><font size="2">&nbsp;</FONT></TD>
	<TD align=left>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Access</FONT></I></B></TD>
	<TD align="left"><font size="2">&nbsp;</FONT></TD>
	<TD align=left>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Title/lease</FONT></I></B></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align="left"><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align="left"><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALUMINIUM</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Comalco</FONT></B>	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
	<TD width="23%" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weipa, Queensland, Australia</FONT></TD>
	<TD width=2% align="left">&nbsp;
	</TD>
	<TD width="23%" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road, air, and port</FONT></TD>
	<TD width=2% align="left">&nbsp;
	</TD>
	<TD width="23%" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Queensland Government lease expires in 2041 with 21 year extension, then two years&#146; notice of termination</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COPPER</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Escondida </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(30%)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Atacama Desert, Chile</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pipeline and road to deep sea port at Coloso</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
    <TD align=left> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rights
        conferred by</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Government
        under Chilean</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining
    Code</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Grasberg
joint venture </FONT></B><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(40%)</font><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B><br>
</B></FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Papua, Indonesia</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pipeline, road and port</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Indonesian Government Contracts of Work expire in 2021 with option of two ten year extensions</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Minerals</FONT></B>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
Cortez/Pipeline (40%)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Nevada, US</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Patented and unpatented mining claims</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Minerals</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (70%)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Alaska, US</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Port</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
    <TD align=left><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Patented
        and unpatented</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mining
    claims</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Utah Copper</FONT></B>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
Bingham Canyon</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Near Salt Lake City, Utah, US</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pipeline, road and rail</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Owned</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Northparkes </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(80%)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Goonumbla, New South Wales, Australia</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road and rail</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">State Government mining lease issued in 1991 for 21 years</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD rowspan="2" align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Palabora </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(47%)</FONT></TD>
	<TD rowspan="2" align=left>&nbsp;

	</TD>
	<TD rowspan="2" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Phalaborwa, Northern Province, South Africa</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD rowspan="2" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rail and road</FONT></TD>
	<TD rowspan="2" align="left">&nbsp;
	</TD>
	<TD rowspan="2" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lease from South African Government valid until deposits exhausted. Base metal claims owned by Palabora</FONT></TD>
</TR>
<TR valign="top">
  <TD align="left">&nbsp;
	</TD>
  </TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DIAMONDS</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Argyle Diamonds</FONT></B>	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kimberley Ranges, Western
Australia</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road and air</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining tenement held under Diamond (Argyle Diamond Mines Joint Venture) Agreement Act 1981-83; lease extended for 21 years from 2004</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Diavik </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(60%)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northwest Territories, Canada</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Air, ice road in winter</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining leases from Canadian federal government</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Murowa </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(78%)</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Zvishavane, Zimbabwe</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road and air</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Claims and mining leases</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ENERGY</FONT></B></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
<TR valign="top">
  <TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Energy
Resources of Australia<br>
</font></b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(68%)</font>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ranger</FONT></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northern Territory, Australia</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leases granted by State</FONT></TD>
</TR>
<TR valign="top">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">31</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p32"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INFORMATION ON GROUP MINES </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto interest 100 per cent unless otherwise shown)</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="left" valign="top">
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Mine</FONT></I></B>
	</TD>
	<TD><font size="2">&nbsp;</font>

	</TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">History</FONT></I></B></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Type of mine</FONT></I></B></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Power source</FONT></I></B></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALUMINIUM</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Comalco</FONT></B>	</TD>
	 <TD width=2%>&nbsp;</TD>

	<TD width=23%>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bauxite mining commenced in 1961; Major upgrade completed in 1998 to incorporate Alcan&#146;s adjacent Ely reserve in overall mining plan; Rio Tinto interest increased from 72.4% to 100% in 2000; In 2004 a mine expansion was completed that will lift annual capacity to 16.5 million tonnes in coming years</FONT></TD>
	 <TD width=2%>&nbsp;</TD>

	<TD width=23%>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open cut</FONT></TD>
	 <TD width=2%>&nbsp;</TD>

	<TD width=23%>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On site generation; new power station under construction</FONT></TD>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COPPER</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Escondida </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(30%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production started in 1990 and expanded in phases to 2002 when new concentrator was completed; sulphide leach project approved 2004 and Norte project started production 2005</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied from SING grid under two contracts with Norgener to 2008 and Nopel (Gas Atacama) to 2009</FONT></TD>
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  </TD>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Grasberg joint venture</FONT></B>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(40%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Joint venture interest acquired 1995; capacity expanded to over 200,000 tonnes of ore per day in 1998 with addition of underground production of more than 35,000 tonnes per day in 2003</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit and underground</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Long term contract with US-Indonesian consortium operated, purpose built, coal fired generating station</FONT></TD>
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</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Minerals<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cortez/Pipeline (40%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold production started at Cortez in 1969, Pipeline in 1997 and Cortez Hills was approved in 2005.</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Public utility</FONT></TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Minerals<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Greens Creek (70%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Redeveloped in 1997</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underground/drift and fill</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On site diesel generators</FONT></TD>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Utah Copper<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bingham Canyon</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interest acquired in 1989; modernisation includes smelter complex and expanded tailings dam</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On site generation supplemented by long term contracts with Utah Power and Light</FONT></TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Northparkes </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(80%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interest acquired in 2000; production started in 1995</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit and underground</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied from State grid</FONT></TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Palabora </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(47%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Development of 20 year underground mine commenced 1996 with open pit closure in 2003</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underground</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied by ESCOM via grid network</FONT></TD>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DIAMONDS</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Argyle Diamonds</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interest increased from 59.7% following purchase of Ashton Mining in 2000. Underground mine project approved in 2005 to extend mine life to 2018</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Long term contract with Ord Hydro Consortium and on site generation back up</FONT></TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Diavik </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(60%)</FONT></TD>
	<TD rowspan="4">&nbsp;

	</TD>
	<TD rowspan="4">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Deposits discovered 1994-1995; construction approved 2000; diamond production started 2003. Second dike closed off in 2005 for mining of additional orebody</FONT></TD>
	<TD rowspan="4">&nbsp;
	</TD>
	<TD rowspan="4">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit to underground in future</FONT></TD>
	<TD rowspan="4">&nbsp;
	</TD>
	<TD rowspan="4">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On site diesel generators; installed capacity 27MW</FONT></TD>
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	<TD>

	</TD>
  </TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Murowa </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(78%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Discovered 1997; small scale production started 2004</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied by ZESA</FONT></TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ENERGY</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
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</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Energy
Resources of</FONT></B>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Australia<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(68%) Ranger</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining commenced 1981; interest acquired through North in 2000; life of mine extension to 2014 announced in 2005</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On site diesel/steam power generation</FONT></TD>
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</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">32</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<a name="p33"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INFORMATION ON GROUP MINES </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto interest 100 per cent unless otherwise shown)</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="left" valign="top">
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Mine</FONT></I></B></TD>
	<TD><font size="2">&nbsp;</font>

	</TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Location</FONT></I></B></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Access</FONT></I></B></TD>
	<TD><font size="2">&nbsp;</font>
	</TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Title/lease</FONT></I></B></TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ENERGY </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(continued)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Energy America<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Antelope<br>
Colowyo
(20%)<br>
 Cordero Rojo<br>
 Decker (50%)<br>
 Jacobs Ranch<br>
 Spring Creek</FONT></TD>
	<TD width="2%">&nbsp;

	</TD>
	<TD width="23%">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Wyoming, Montana and Colorado, US</FONT></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="23%">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rail and road</FONT></TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="23%">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leases from US and State Governments and private parties, with minimum coal production levels, and adherence to permit requirements and statutes</FONT></TD>
</TR>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Coal Australia<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bengalla (30%)<br>
 Blair Athol (71%)<br>
 Hail Creek (82%)<br>
 Hunter Valley Ops. (76%)<br>
 Kestrel (80%)<br>
 Mount Thorley Ops. (61%)<br>
 Tarong Coal Warkworth (42%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">New South
Wales and Queensland, Australia</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road, rail conveyor and port</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leases granted by State</FONT></TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">R&ouml;ssing Uranium </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(69%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Namib Desert, Namibia</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rail, road and port</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Federal lease</FONT></TD>
</TR>
<TR align="left" valign="top">
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  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INDUSTRIAL MINERALS</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
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</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Boron</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">California, US</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road, rail and port</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Owned</FONT></TD>
</TR>
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  </TD>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dampier Salt </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(65%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dampier, Lake MacLeod and Port Hedland, Western Australia</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road and port</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining leases expiring in 2013 at Dampier, 2018 at Port Hedland and 2021 at Lake MacLeod with options to renew in each case</FONT></TD>
</TR>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Luzenac</FONT></B>	</TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Trimouns, France (other smaller operations in Australia, Europe and North America)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road and rail</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Owner of ground (orebody) and long term lease agreement to 2012</FONT></TD>
</TR>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">QIT-Fer et Titane</FONT></B>	</TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Saguenay County, Quebec, Canada</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rail and port (St Lawrence River)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining covered by two Concessions granted by State in 1949 and 1951 which, subject to certain Mining Act restrictions, confer rights and obligations of an owner</FONT></TD>
</TR>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Richards Bay Minerals</FONT></B>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(50%)</font></TD>
	<TD>&nbsp;</TD>
	<TD> <p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richards
        Bay, KwaZulu- <br>
        Natal,</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> South
         Africa</FONT></p>
    </TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rail, road and port</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Long term renewable leases; State lease for Reserve 4 initially runs to end 2022; Ingonyama Trust lease for Reserve 10 runs to 2010</FONT></TD>
</TR>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IRON ORE</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Hamersley Iron<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Brockman<br>
 Marandoo<br>
 Mount Tom Price<br>
 Paraburdoo<br>
 Yandicoogina<br>
 Channar (60%)<br>
 Eastern Range (54%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley Ranges, Western Australia</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Railway and port (owned by Hamersley Iron and operated by Pilbara Iron)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreements for life of mine with Government of Western Australia</FONT></TD>
</TR>
<TR align="left" valign="top">
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</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Iron Ore Company of</FONT></B>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Canada </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(59%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Labrador City, Province of Labrador and Newfoundland</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Railway and port facilities in Sept-Iles, Quebec (owned and operated by IOC)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sublease with the Labrador Iron Ore Royalty Income Fund which has lease agreements with the Government of Newfoundland and Labrador that are due to be renewed in 2020 and 2022</FONT></TD>
</TR>
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  <TD><hr size="1" noshade>
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	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Brasil<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corumb&aacute;</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Matto Grosso do Sul, Brazil</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Road, air and river</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Government licence for undetermined period</FONT></TD>
</TR>
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  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Robe River Iron Associates</FONT></B>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(53%)<br>
 Mesa J<br>
 West Angelas</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pilbara region, Western Australia</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Railway and port (owned by Robe River and operated by Pilbara Iron)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreements for life of mine with Government of Western Australia</FONT></TD>
</TR>
<TR align="left" valign="top">
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  </TD>
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</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">33</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p34"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INFORMATION ON GROUP MINES </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto interest 100 per cent unless otherwise shown)</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="left" valign="top">
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Mine</FONT></I></B>
	</TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">History</FONT></I></B></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Type of mine</FONT></I></B></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Power source</FONT></I></B></TD>
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  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ENERGY </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(continued)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
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  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Energy America</FONT></B><br>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Antelope
      <br>
      Colowyo (20%)<br>
      Cordero Rojo<br>
      Decker (50%)<br>
      Jacobs Ranch<br>
      Spring Creek</FONT></TD>
	 <TD width=2%>&nbsp;</TD>

	<TD width=23%>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Antelope, Spring Creek, Decker and Cordero acquired in 1993, Colowyo in 1995, Caballo Rojo in 1997, Jacobs Ranch in 1998 and West Antelope in 2004</FONT></TD>
	 <TD width=2%>&nbsp;</TD>

	<TD width=23%>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open cut</FONT></TD>
	 <TD width=2%>&nbsp;</TD>

	<TD width=23%>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied by
IPPs and Cooperatives through national grid service</FONT></TD>
</TR>
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  </TD>
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<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Coal Australia<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bengalla (30%)<br>
 Blair Athol (71%)<br>
 Hail Creek (82%)<br>
 Hunter Valley Ops. (76%)<br>
 Kestrel (80%)<br>
 Mount Thorley Ops. (61%)<br>
 Tarong Coal<br>
 Warkworth (42%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lemington acquired late 2000 and integrated with Hunter Valley Operations. Peabody Australian interests acquired in 2001. Production started for export at Blair Athol and adjacent power station at Tarong in 1984. Kestrel acquired and recommissioned 1999. Hail Creek started 2003.</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open cut and underground (Kestrel)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">State owned grid</FONT></TD>
</TR>
<TR align="left" valign="top">
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  </TD>
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  </TD>
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  </TD>
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  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">R&ouml;ssing Uranium </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(69%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production began in 1978. Life of mine extension to 2016 approved in 2005</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Namibian National Power</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
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  </TD>
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  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INDUSTRIAL MINERALS</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
<TR align="left" valign="top">
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  </TD>
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  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Boron</FONT></B>	</TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Deposit discovered in 1925, acquired by Rio Tinto in 1967</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On site co-generation units</FONT></TD>
</TR>
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  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dampier Salt </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(65%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Construction of the Dampier field started in 1969; first shipment in 1972. Lake MacLeod was acquired in 1978 as an operating field</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Solar evaporation of seawater (Dampier and Port Hedland) and underground brine (Lake MacLeod); dredging of gypsum from surface of Lake MacLeod</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dampier supply from Hamersley Iron Power; Lake MacLeod from Western Power and on site generation units; Port Hedland from Western Power</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Luzenac</FONT></B>	</TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production started in 1885; acquired in 1988. (Australian mine acquired in 2001)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied by EdF and on site generation units</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">QIT-Fer et Titane</FONT></B>	</TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production started 1950; interest acquired in 1989</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Long term contract with Quebec Hydro</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Richards Bay Minerals</FONT></B>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(50%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production started 1977; interest acquired 1989; fifth dredge commissioned 2000</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Beach sand dredging</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Contract with ESCOM</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IRON ORE</FONT></B></TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
	<TD>&nbsp;</TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Hamersley Iron<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Brockman<br>
 Marandoo</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mount Tom Price<br>
 Paraburdoo<br>
 Yandicoogina<br>
 Channar (60%)<br>
 Eastern Range (54%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Annual capacity increased to 68 million tonnes during 1990s; Yandicoogina first ore shipped in 1999 and port capacity increased; Eastern Range mine started 2004</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pits</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied through the integrated Hamersley and Robe power network operated by Pilbara Iron</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Iron Ore Company of</FONT></B>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Canada </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(59%)</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Current operation began in 1962 and has processed over one billion tonnes of crude ore since; annual capacity now 17.5 million tonnes of concentrate of which 13.5 million tonnes can be pelletised. Interest acquired in 2000 through North</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied by Newfoundland Hydro under long term contract</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Brasil<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corumb&aacute;</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Iron ore production started 1978; interest acquired in 1991</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied by ENERSUL</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
<TR align="left" valign="top">
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Robe River Iron Associates</FONT></B>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(53%)<br>
 Mesa J<br>
 West Angelas</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">First shipment in 1972; annual sales reached 30 million tonnes in late 1990s; interest acquired in 2000 through North; West Angelas first ore shipped in 2002 and mine expanded in 2005</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Open pit</FONT></TD>
	<TD>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplied through the integrated Hamersley and Robe power network operated by Pilbara Iron</FONT></TD>
</TR>
<TR align="left" valign="top">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">34</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p35"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INFORMATION
  ON GROUP SMELTERS, REFINERIES AND PROCESSING PLANTS<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio
  Tinto interest 100 per cent unless otherwise shown)</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><font size="2"> <B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Smelter,
      refinery or</FONT></I></B> <b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">plant</font></i></B></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"> <B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Location</FONT></I></B>&nbsp;
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"> <B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Title/lease</FONT></I></B>&nbsp;
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"> <B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Plant
      type/product</FONT></I></B>&nbsp; </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"> <B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Capacity</FONT></I></B>&nbsp;
      </font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALUMINIUM
      GROUP</FONT></B></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD width=18%> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Anglesey
      Aluminium</FONT></B> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(51</FONT><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%)</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=18%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Holyhead,
      Anglesey,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Wales</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=18%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=18%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium
      smelter</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">producing
      aluminium</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">billet,
      block, sow</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=18%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">145,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      aluminium</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Bell
      Bay</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bell
      Bay, Northern</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tasmania,</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium
      smelter</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">producing
      aluminium</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ingot,
      block, t-bar</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">174,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      aluminium</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Boyne
      Smelters</FONT></B> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(59</FONT><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Boyne
      Island,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Queensland,</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium
      smelter</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">producing
      aluminium</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ingot,
      billet, t-bar</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">545,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      aluminium</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Comalco
      Alumina</FONT></B> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Refinery</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gladstone,
      Queensland,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97%
      Freehold 3%</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leasehold
      (expiring in</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2101
      and after)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Refinery
      producing</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">alumina</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,400,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      alumina</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Eurallumina
      </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(56%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Portoscuso,
      Sardinia,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Italy</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39%
      Freehold</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61%
      Leasehold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Refinery
      producing</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">alumina</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,070,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      alumina</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Gladstone
      Power</FONT></B> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Station
      </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(42%)</FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gladstone,
      Queensland,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australia</FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Thermal
      power station</FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,680
      megawatts</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">New
      Zealand</FONT></B> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Aluminium
      Smelters</FONT></B> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(NZAS)
      </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(79%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tiwai
      Point, Southland,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">New
      Zealand</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19.6%
      Freehold</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.4%
      Leasehold</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(expiring
      in 2029 and</FONT> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">use
      of certain Crown</font> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">land)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium
      smelter</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">producing
      aluminium</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ingot,
      billet, t-bar</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">352,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      aluminium</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Queensland
      Alumina</FONT></B> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(39</FONT><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gladstone,
      Queensland,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73.3%
      Freehold</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26.7%
      Leasehold (of</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which
      more than 80%</FONT> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">expires
      in 2026 and</font> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">after)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Refinery
      producing</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">alumina</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,953,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      alumina</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COPPER
      GROUP</FONT></B></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott
      Utah</FONT></B> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Copper</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Magna,</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Salt Lake
      City,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Utah,
      US</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Flash
      smelting furnace</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/
      Flash convertor</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">furnace
      copper</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">refinery</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">335,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      refined copper</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Palabora
      </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(47%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Phalaborwa,</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">South
      Africa</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reverberatory
      Pierce</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Smith
      copper refinery</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">130,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      refined copper</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INDUSTRIAL
      MINERALS</FONT></B></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Boron</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">California,
      US</FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Borates
      refinery</FONT></TD>
    <TD>&nbsp; </TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">584,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      boric oxide</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">QIT-Fer
      et Titane</FONT></B> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sorel
      Plant</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sorel-Tracy,</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Quebec,</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Canada</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ilmenite
      smelter</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,100,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      titanium dioxide</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">slag</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">900,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      iron</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Richards
      Bay</FONT></B> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Minerals
      </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(50%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richards
      Bay,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">South
      Africa</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Freehold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ilmenite
      smelter</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,060,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      titanium dioxide slag</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"> </TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IRON
      ORE GROUP</FONT></B></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Hlsmelt</FONT></B><B><SUP><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&reg;
      </FONT></SUP></B><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">(60%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kwinana,</FONT>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Western
      Australia</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Leasehold</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(expiring
      in 2010 with</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">rights
      of renewal for</FONT> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">two
      further 25 year</font> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">terms)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hlsmelt</FONT><B><SUP><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&reg;
      </FONT></SUP></B><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">ironmaking</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">plant
      producing pig</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">iron</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">800,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      pig iron</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IOC
      Pellet Plant</FONT></B> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(59</FONT><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Labrador
      City,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Newfoundland,
      Canada</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100%
      Leaseholds</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(expiring
      in 2020,</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2022
      and 2025 with</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">rights
      of renewal for</FONT> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">further
      terms of 30</font> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">years)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pellet
      induration</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">furnaces
      producing</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">multiple
      iron ore pellet</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">types</FONT></TD>
    <TD>&nbsp;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,500,000
      tonnes per</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      pellet</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="9"><hr size="1" noshade></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">35</FONT></B></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p36"></a>Item
      4A.</FONT></B></TD>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Unresolved
      Staff Comments</FONT></B></TD>
  </tr>
</table>

<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As far as
  Rio Tinto is aware there are no unresolved written comments from the SEC staff
  regarding its periodic reports under the Exchange Act received more than 180
  days before 31 December 2005.</FONT></P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p36a"></a>Item
      5.</FONT></B></TD>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> Operating
      and Financial Review and Prospects</FONT></B></TD>
  </tr>
</table>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign="top">
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td colspan="2"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This
        Item includes a discussion of the main factors affecting the Group&#146;s &#147;Profit
        for the year&#148;, as measured in accordance with International Financial
        Reporting Standards as adopted by the European Union (EU IFRS). In monitoring
        its financial performance, the Group also focuses on that part of the
        Profit for the year attributable to equity shareholders of Rio Tinto,
        which is referred to as &#147;Net earnings&#148;, and on an additional
        measure called &#147;Underlying earnings&#148;. The latter measure, which
        is also based on the amounts attributable to Rio Tinto shareholders,
        is reported to provide greater understanding of the underlying business
        performance of Rio Tinto operations. This is defined and reconciled with
        Net earnings in Note 2 to the 2005 Financial statements.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Significant
movements in the items excluded from Underlying earnings are discussed on pages
40 to 41.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
this report, the turnover of the parent companies and their subsidiaries is referred
to as &#147;Consolidated turnover&#148;. Rio Tinto also reports a turnover measure
that includes its share of jointly controlled entities and associates, which
is referred to as "Gross turnover". This latter measure is considered informative
because a significant part of the Group's business is conducted through operations
that are subject to equity accounting.</font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This
    Item is comprised of the following:</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman&#146;s
    letter providing a high level review of the Group</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief
      executive&#146;s report providing a high level review of the Group&#146;s
    operations</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Financial
    review of the Group</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Operating
    reviews for each of the principal product groups and global support groups</font></td>
  </tr>
  <tr valign="top">
    <td colspan="2"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
        a result of adopting IAS 32, IAS 39 and IFRS 5 on 1 January 2005, the
        Group changed its method of accounting for financial instruments and
        non-current assets held for sale. In line with the relevant transitional
        provisions, the prior period comparatives have not been re-stated. See
    Note 1 to the 2005 Financial statements for further discussion.</font></td>
  </tr>
</table>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CHAIRMAN&#146;S
LETTER</FONT></B></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dear
      shareholder</FONT></B><br>
    <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Demand
      was strong throughout 2005 for most of the metals and minerals we produce,
      and supply
    was generally tight. As a result prices of most products were well above the
      historical average trend. The buoyant conditions in our sector, together
      with
    Rio Tinto&#146;s strategic positioning and strong operating performance, resulted
  in a second successive year of record profits.<br>
&nbsp;&nbsp;&nbsp;&nbsp; However,
  these favourable conditions are no basis for complacency. Our view of the world
  has not changed fundamentally. The reality is that we are in an inherently
  cyclical
  business &#150; even if successive cycles have different characteristics. Our
  long term strategy for portfolio development, investment, capital management
  and operational excellence is designed to create shareholder value whatever
  the prevailing business conditions.</FONT></P>
<P><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Results</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Higher prices
  and increased production volumes in 2005 contributed to underlying earnings
  of US&#36;4,955 million, US&#36;2,683 million or 118 per cent above 2004. Net
  earnings were US&#36;5,215 million compared with US&#36;3,297 million in 2004.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cash
  flow from operations at US&#36;8,257 million, including dividends from jointly
  controlled entities and associates, was also a record, and 85 per cent higher
  than 2004.
  Timely disposal of non core assets further strengthened our balance sheet which,
  in turn, helps to underpin our extensive capital investment programme and gives
  us the flexibility to pursue investment opportunities when and where they arise.
  In 2005 we saw significant investments and developments in a number of new
  areas.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the current
  environment of strong economic returns, we are aware of the potential for our
  balance sheet to become overly strong.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reflecting
  our large cash flows, we announced a substantial return of capital to shareholders
  totalling US&#36;4 billion as part of our capital management programme. This
  comprises a US&#36;1.5 billion special dividend (equivalent to US&#36;1.10 per
  share), and a share buy back programme totalling US&#36;2.5 billion by the end
  of 2007. This replaces the US&#36;500 million remaining from the 2005 programme.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The final dividend declared for 2005 under the
  progressive ordinary dividend policy brings total dividends for the year to
  80 US cents per share, an increase of four per cent from 2004.</FONT></P>

<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">36</FONT></B></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p37"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


  <P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sustainable
    development</FONT></B><font size="2"><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining
    operates on long time horizons, and most of Rio Tinto&#146;s mines and processing
    plants have operational lives spanning decades. A key part of our strategy
    therefore is to make social and environmental responsibility integral to our
    planning and decision making. We always seek to align our interests with those
    of the communities and environments where our operations are based. Rio Tinto
    regards corporate social responsibility as a vital determinant of commercial
    success. Investors relate positively to companies who have values they can
    identify with and we remain committed to the principles of sustainable development.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">We see
    a clear responsibility to help to address the challenges posed by climate
    change, to manage issues related to biodiversity, and to maintain effective
    product stewardship across the value chain of our products. I believe Rio
    Tinto has become a leader in our industry in these areas but we still have
    some way to go.</FONT></P>

  <P><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Board
    developments<SUP>1,2</SUP></FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In September
    we welcomed Sir Rod Eddington to the boards on his retirement as chief executive
    of British Airways plc. Rod is an Australian and was educated at the University
    of Western Australia and Oxford University where, as a Rhodes Scholar, he
    completed a doctorate in engineering science. He brings valuable new skills
    and experience to the board. Sir Richard Giordano, Leon Davis and John Morschel
    all retired from the boards after the 2005 annual meetings and Ashton Calvert
    and Vivienne Cox joined from 1 February 2005. I believe we have a very strong,
    well qualified and cohesive board which provides the right level of support
    and challenge to our executive team.</FONT></font></P>
  <P><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Forward
    outlook</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Despite several
  challenges &#150; including high oil prices, structural imbalances, and the
  potential for currency fluctuations &#150; we believe the global economy will
  continue its recent positive trend, even if rates of growth slow somewhat.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">We
  are continuing to experience strong short term demand for our metal and mineral
  products. Demand
  from China remains particularly strong but risks remain of occasional &#147;speed
  bumps&#148; as the country&#146;s social and economic structures adjust to
  the high rates of growth. Overall, we expect supply/demand balances to remain
  tight
  in 2006 with prices continuing to track above the long term trend.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At some point
  the supply position will become more balanced and we will see a downturn in
  the cycle. While we are continuing to invest in increased production to provide
  long term supply assurance to our customers, and to maintain our market position,
  we focus on economically robust projects which we believe can deliver sustained
  profitability in varying market conditions.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
  are increasingly seeking to leverage our global reach and scale by delivering
  operational excellence, sharing of best practice
  between our businesses, and adopting common business systems and processes
  across the Group. I am confident that the continuing efforts of the Group&#146;s talented
  and committed people all over the world will ensure we maintain a strong and
  competitive company, responsive to all opportunities which we believe can add
  value for our shareholders. The board is, once again, very appreciative of our
  employees&#146; major contribution in 2005.</FONT></P>

<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Paul
  Skinner</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">
  Chairman</FONT><BR>
  <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">24 February
  2006</FONT></font></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="left" valign="top">
    <TD colspan="2"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Note</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD width=3%> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</FONT></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
      Albanese was appointed as an executive director on 7 March 2006. He will
      remain chief executive of the Copper group and Exploration until 1 July
      2006 when he will be appointed director, Group Resources.</FONT></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</FONT></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Michael
      Fitzpatrick was appointed as a non executive director on 6 June 2006.</FONT></TD>
  </TR>
</TABLE>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CHIEF EXECUTIVE&#146;S REPORT</FONT></B></P>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The 2005 results were excellent. The mining industry is experiencing strong prices across most of its products. We were able to capitalise on the upswing with a strong operating
  performance that maximised production, while at the same time improving our safety record. We approved a number of major projects and concluded a number of well executed transactions. We are also introducing structural business improvements in the
  Group that are expected to yield long term benefits and position us for continuing strong performance when markets are not as buoyant.</FONT></P>
<P><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Performance</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As China&#146;s
    industrial output soars and more than a billion people participate in a transformation
    of their living standards, the demand for the metals and minerals we produce
    has increased rapidly. Besides China&#146;s large share of world growth, economic
    conditions were also stronger in Japan and the US.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The level
    of demand sent the prices for copper, molybdenum, iron ore, coking and thermal
    coal, and alumina to historic peaks in nominal terms. Only time will tell
    whether the 2005 prices for these commodities represent cyclical highs. For
    its part, Rio Tinto concentrated on operational delivery, and we achieved
    record output in many areas.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
    a result, all product groups except Industrial Minerals increased their underlying
    earnings.
    Higher costs reduced earnings by US&#36;598 million. </FONT></P>

  <P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">37</FONT></B></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the current
  environment some cost increases are inevitable. Other costs are, in fact, desirable
  and make good business sense, such as increased exploration and project evaluation
  spending.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Our business
    is cyclical. The increase in demand and consumption with the resultant rise
    in prices, provides an incentive for the industry to invest. This can lead
    to oversupply and some product substitution, which ultimately depresses prices.
    This effect produces &#147;spikes&#148; in the chart, above and below the
    average long term price trend. Rio Tinto aims to operate successfully and
    create value in all environments.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">How long
    the current strong price environment remains depends on how rapidly the industry
    is able to respond to the strong demand for most products. The response will
    differ from product to product.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">So far this
    response has been varied. In iron ore, major producers including Rio Tinto
    are responding to demand through increased investment. In copper, the response
    has been impacted by significant interruptions in supply. In aluminium, in
    spite of strong demand growth, a period of strong investment in China has
    meant demand has been satisfied for the metal itself, although alumina is
    in short supply and prices have risen significantly. Finally, in both coking
    and thermal coal, there has been some response but infrastructure has been
    a constraining factor.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Current market
    conditions may result in a longer period of above average prices than we have
    seen before. In fact Rio Tinto has modestly increased its long term price
    forecasts for some products for planning and investment purposes.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">While the
    cycle may be longer, there has been a significant impact on costs. Most mining
    inputs such as energy, supplies, equipment and labour have become more costly
    and in short supply. In energy, we paid 40 per cent more for fuel and 50 per
    cent more for natural gas in the US. Lead times to procure heavy mining equipment
    have risen from six to 12 months. Heavy mobile equipment tyres are in very
    short supply. Thanks to our established purchasing networks we have been able
    to secure supplies better than most.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Some specialist
    skills are also short and labour costs in a number of regions have risen significantly.
    The cost of oil and gas is unlikely to return to the prices prevailing previously.
    These factors may represent a structural increase in costs for our industry,
    but we constantly look for ways to use energy more efficiently and improve
    productivity across all our operations.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto
    has a long track record of creating value through business improvement. A
    global approach to procurement has resulted in savings from purchases under
    Group wide contracts, while the establishment of Rio Tinto Shipping to leverage
    the scale of our bulk shipments has successfully reduced costs. On the operating
    side, the concept of combining business units in common geographic areas such
    as Rio Tinto Coal Australia and Pilbara Iron has led to cost effective rationalisation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">We are currently
    entering the next phase in the evolution of business improvement. Our model
    of decentralised businesses with strong local management accountability has
    been a source of success. By making the most of our global scale and reach,
    we now want to ensure we maximise the sum of our parts.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">This means
    leveraging synergies across all our businesses through greater collaboration
    and the standardisation of successful operating practices. The use of improved
    information technology is part of the process. We are still in the early stages
    of this journey, but we are confident it will deliver considerable value.
    </FONT><I><FONT face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Improving performance together</FONT></I><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">,
    as we call our programme, will create value through a combination of capital
    efficiency, higher volumes, higher revenues and improved productivity leading
    to lower costs. This goes to the core of our business, which is about first
    class operational delivery. We are developing a real sense of excitement about
    the scale, ambition and potential of the changes we have set in motion (see
    page 73).</FONT></font></P>
<P><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Strategy</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">We focus
    on long life, low cost assets. These assets are expected to generate very
    strong cash flows when markets are buoyant. Just as importantly, they are
    also expected to deliver good returns when markets are weaker. Large world
    class orebodies give us options to expand capacity in line with demand, as
    we are doing today. Options can also be created by acquisition, especially
    where synergies exist.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This was
    demonstrated in our Iron Ore group by the development of West Angelas following
    the acquisition of North Ltd in 2000, and the 2005 agreement to form a joint
    venture involving Hope Downs. The Hope Downs iron ore property in Western
    Australia is also a good illustration of our ability to evaluate and execute
    a value creating transaction quickly.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
    the bulk of our operations are in Australia, the US and Canada, we have invested
    in many new frontier regions and will continue to do so. Our exploration
    programme
    is very broad, but wherever we conduct development, our projects will be
    subject to the same rigorous evaluation. Our approach is focused and measured &#150; we
    are risk aware, but not risk averse.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are
    investing in Madagascar, we are evaluating exciting projects in West Africa
    (iron ore) and Argentina (potash by solution mining) and we have entered into
    a significant joint venture in Russia with Norilsk Nickel. There are advanced
    exploration projects in progress in Australia (iron ore), India (diamonds),
    Indonesia (nickel), Brazil (bauxite), South Africa (coal) and Turkey (copper).</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Our
exploration portfolio is currently the best we have seen. We have a suite of
projects and prospects with the potential to ensure we can maintain our growth
profile. They provide a variety of new development options in all of our main
product sectors over the next five years, many of which could become long life,
quality assets &#150; the hallmark of Rio Tinto. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
2005 we invested US&#36;2.5 billion in the growth of the business and expect to spend an additional US&#36;3
billion in both 2006 and 2007. We are demonstrating that in these times of buoyant
demand Rio Tinto has the best </FONT></font></P>

  <P align="left">&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">38</FONT></B></TD>
  </tr>
</table>
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<P>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">opportunities for organic growth in its history, based on the number and scale of current and potential projects in our pipeline. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reflecting
strong demand and our excellent resource position, we are making significant
    investments in iron ore. At the beginning of 2005 we had investment of US&#36;1.3
    billion already under way for the expansion of production and transportation
    capacity in the Pilbara. In April we committed another US&#36;290 million
    to expanding three mines, followed in October by a further US&#36;1.35 billion
    for additional port capacity and further mine expansions.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In Industrial
    Minerals, in the first half of the year we completed an expansion of the upgraded
    titanium slag plant at QIT in Canada. Due to strong demand, we announced a
    further expansion to 375,000 tonnes per year which will be completed in 2006.
    </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
resource relating to our investment in Madagascar will support a 40 year mine
life. Titanium dioxide feedstock reserves are more than 12 millon tonnes. At
an ilmenite grade of 60 per cent, this represents the best undeveloped resource
of this scale and quality. We are investing US&#36;775 million of which US&#36;585 million will be for the mine and port in Madagascar and US&#36;190
million for upgrading related processing facilities in Canada. Production is
due to commence in late 2008. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Elsewhere,
the development of a new mine at Cortez Hills in Nevada, US was announced, and
the Diavik diamond mine in Canada closed off a second dike to permit mining of
additional orebodies. At year end we commenced development of an underground
mine at Argyle Diamonds at a cost of US&#36;910 million and further expenditure to extend the life of mine at R&ouml;ssing
Uranium in Namibia to 2016. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">After
taking a leading position in the financing and development of the Lihir gold
mine in Papua New Guinea in the 1990s, we agreed with Lihir Gold in September
to relinquish our management agreement and subsequently sold our 14.5 per cent
interest in November for US&#36;295 million.<br>
</FONT></font><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Summing
    up</FONT></B><br>
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group
    is performing well operationally, maximising the volumes of product we deliver
    into strong markets. These markets continue to look strong well into 2006.
    </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Whilst alert to merger and acquisition opportunities we are delivering our current projects and have an excellent array of organic growth options.
</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Notwithstanding our record levels of investment and return of capital to shareholders, we are generating cash that is surplus to our needs, enabling us
to manage and maintain a strong balance sheet and retain our capacity to take advantage of opportunities as they arise. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In this buoyant climate we remain focused on business improvement as a priority by implementing a major new programme of renewal that will create value
for shareholders in the future no matter what market conditions we face. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto&#146;s success is a tribute to the dedication and commitment of our employees.
I thank my management team and employees throughout the world for the hard work
they have put in and for their continued support.</FONT></font></P>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Leigh
  Clifford </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief
  executive</FONT><BR>
  <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">24 February
  2006</FONT></font></p>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FINANCIAL
REVIEW</FONT></B></font></P>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial
    risk management</FONT></B><br>
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group&#146;s policies with regard to risk management are clearly defined and consistently applied. They are a fundamental tenet of the Group&#146;s
    long term strategy.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group&#146;s business is mining and not trading. The Group only sells commodities
it has produced. In the long term, natural hedges operate in a number of ways
to help protect and stabilise earnings and cash flow, obviating the need to use
derivatives or other forms of synthetic hedging for this purpose. Such hedging
is therefore undertaken to a strictly limited degree, as described
below.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group has a diverse portfolio of commodities and markets, which have varying
responses
  to the economic cycle.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
relationship between commodity prices and the currencies of most of the countries
in which the Group operates provides further natural protection in the long term.
In addition, the Group&#146;s policy of borrowing at floating US dollar interest
rates helps to counteract the effect of economic and commodity price cycles.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group&#146;s 2005 Financial statements and disclosures show the full extent of its financial commitments including debt. The Group&#146;s
share of
the net debt of jointly controlled entities and associates is also disclosed.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The risk factors to which the Group is subject that are thought to be of particular importance are summarised on pages 7 to 8.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
effectiveness of internal control procedures continues to be a high priority
in the Rio Tinto Group. The Boards&#146; statement on internal control
is included under Corporate governance on page 117.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group&#146;s policies with regard to currencies, commodities, interest rates
and treasury management are discussed below.</FONT></font></P>

<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">39</FONT></B></TD>
  </tr>
</table>
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<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Underlying
    earnings</FONT></B></font></p>
	<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="left" valign="top">
    <TD colspan="2" ><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto presents &#147;Underlying earnings&#148; as an additional measure
        of earnings to provide greater understanding of the underlying business
        performance of its operations. Underlying earnings and net earnings both
        represent amounts attributable to Rio Tinto shareholders. Items (a) to
    (f) below are excluded from net earnings in arriving at underlying earnings.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD width="3%" > <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gains
      and losses relating to the disposal of interests in businesses (including
      investments) and undeveloped properties.</FONT> </TD>
  </TR>
  <TR align="left" valign="top">
    <TD > <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Charges
      and credits relating to impairment of non-current assets, excluding those
      related to current year exploration expenditure.</FONT> </TD>
  </TR>
  <TR align="left" valign="top">
    <TD > <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange
      gains and losses on US dollar net debt and intragroup balances.</FONT> </TD>
  </TR>
  <TR align="left" valign="top">
    <TD > <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Valuation
      changes on currency and interest rate derivatives which are ineligible for
      hedge accounting, other than those embedded in commercial contracts.</FONT>
    </TD>
  </TR>
  <TR align="left" valign="top">
    <TD > <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      currency revaluation of embedded US dollar derivatives contained in contracts
      held by entities whose functional currency is not the US dollar.</FONT>
    </TD>
  </TR>
  <TR align="left" valign="top">
    <TD > <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(f)</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other
      credits and charges that individually, or in aggregate if of a similar type,
      are of a nature or size to require exclusion in order to provide additional
      insight into underlying business performance.</FONT> </TD>
  </TR>
  <TR align="left" valign="top">
    <TD colspan="2" ><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
        contributions from Group businesses and business segments reflect underlying
        earnings. Underlying earnings is reconciled with net earnings in Note
        2 to the 2005 Financial
statements.</font></TD>
  </TR>
</TABLE>

<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Group operating results 2005 compared with 2004</FONT></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">EU IFRS requires that the profit for the period reported in the income statement should also include earnings attributable to outside shareholders in subsidiaries. Both net earnings
and underlying earnings, which are also discussed in this report, deal with amounts attributable to equity shareholders of Rio Tinto as shown below.</FONT></P>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2005</B>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT>      </TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>US&#36;m</B>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT>      </TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Profit
      for the year</FONT></TD>
    <TD width=10% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,498</FONT></B></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,244</FONT>
    </TD>
    <TD width=2% align=left></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      attributable to outside equity shareholders</FONT></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">283</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(53</FONT>
    </TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
      attributable to equity shareholders of Rio Tinto (net earnings)</FONT></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,215</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,297</FONT></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>

<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Amounts attributable to outside equity shareholders increased because of improved results at Robe, Iron Ore Company of Canada, Coal &amp; Allied, Rio Tinto Iron &amp; Titanium and
Palabora. In addition, in 2004 outside equity shareholders&#146; interests reflected a US&#36;129 million charge for impairments.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net
earnings of US&#36;5,215 million in 2005 were US&#36;1,918 million above 2004. Underlying earnings of US&#36;4,955 million were US&#36;2,683
million above 2004. The principal factors explaining the changes in net earnings
are shown in the table below.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36; m</FONT> </TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left>
    <hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004 Net earnings</FONT></TD>
	<TD width=10% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,297</FONT>
	</TD>
	<TD width=2% align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exclusions in arriving at Underlying earnings</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(1,025</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left>
    <hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004 Underlying earnings</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,272</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effect of changes in:</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Prices</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,374</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange rates</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(123</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Inflation</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(141</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Volumes</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,140</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Costs</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(598</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>
    <hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left bgcolor="#eeeeee">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 Underlying earnings</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,955</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Add: Exclusions in arriving at Underlying earnings</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">260</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>
    <hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 Net earnings</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,215</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>
    <hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>

<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The effect of price movements on all major commodities was to increase earnings by US&#36;2,374 million. Prices for the major products remained strong throughout the year and were
appreciably higher than those experienced in 2004: average copper prices were 28 per cent higher whilst average aluminium prices were ten per cent higher. The strength of the global iron ore market was reflected in the 71.5 per cent increase in the
benchmark price, mainly effective from 1 April 2005. The seaborne thermal and coking coal markets were also strong.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Molybdenum
prices, which have generally been below US&#36;5 per pound over the last decade, averaged over US&#36;30
per pound during 2005, although they did soften towards the end of the year.
How long the current strong price environment remains depends on how rapidly
the industry is able to respond to the strong demand for most products. The response
will change significantly from product to
product.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
US dollar was generally weaker than in 2004 relative to the currencies in which
the Group incurs the majority of its costs. The average levels of the Australian
and Canadian dollars strengthened against the US dollar by four per cent and
eight per cent, respectively. The effect of this, together with other currency
movements, was to reduce underlying earnings relative to 2004 by US&#36;123
million.</FONT>
</P>
<P>&nbsp;</P>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">40</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div><page><a name="p41"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Over 40 per cent of the underlying earnings increase year on year came from higher sales volumes, resulting in a favourable variance of US&#36;1,140
million compared with 2004. The West Angelas and Yandicoogina (to 36 million tonnes per annum) mine expansions were completed in 2005 whilst strong operational performance led to major production gains at many operations including Iron Ore Company
of Canada and Argyle Diamonds. The improvement over 2004 also reflected the following adverse influences on that earlier year: the Grasberg slippage, the ten week strike at Iron Ore Company of Canada and the effects of Hurricane Monty at Hamersley
and Robe. To take advantage of the strong market for molybdenum, the mine sequencing at Kennecott Utah Copper was optimised to maximise molybdenum production. This, together with modifications to the molybdenum circuit at the concentrator, boosted
production volumes by 130 per cent.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Excluding the effects of inflation, higher costs reduced earnings by US&#36;598 million. Of this, US&#36;130 million was due to higher energy costs and
US&#36;46 million was attributable to increased exploration expenditure from brownfield exploration and further evaluation work. More generally, costs were influenced by the strong price environment being enjoyed by the mining industry. This has led
to rising mining input costs caused by supply constraints for skilled labour, steel, tyres, explosives, freight and other mining related goods and services. Costs at Kennecott Utah Copper were affected by a scheduled 17 day smelter maintenance
shutdown in the first half of 2005 whilst continued port congestion at Dalrymple Bay, Queensland, fed through to higher demurrage charges.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Higher
non cash costs reflected increased depreciation at Kennecott Utah Copper following
the changes in the mine plan at the end of 2004. Increases in closure cost provisions
resulted in higher depreciation charges on the amounts capitalised. One-off costs
included restructuring costs of US&#36;30 million relating to the formation of
the Rio Tinto Minerals organisation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The effective tax rate on underlying earnings, including associates and jointly controlled entities, was 29.7 per cent compared with 28.7 per cent in
2004. The effective tax rate on net earnings, including associates and jointly controlled entities, was 28.3 per cent compared with 21.4 per cent in 2004. The lower effective tax rate on net earnings in both years primarily reflects disposals that
were not subject to tax.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
total &#147;Other items&#148; improved by US&#36;31 million. Within that total, the net after tax interest expense of US&#36;44 million was US&#36;25
million lower than in 2004 due to lower levels of net debt. Also within &#147;Other items&#148;, 2004 underlying earnings included contributions totalling US&#36;88
million from the operations of businesses that were sold during that year. Earnings
in 2005 benefited from an improvement in the net impact of insurance items, including
lower claims on the captive insurers due to the absence of cyclone related damages
experienced in 2004.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exclusions in arriving at underlying earnings were as follows:</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>
	</TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT>	</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT></B>
	</TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT>	</TD>
	<TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net profit on the disposal of interests in businesses (including investments)</FONT></TD>
	<TD width=10% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">311</FONT></B>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=10% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,175</FONT>
	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net impairment reversals/(charges)</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4</FONT></B>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(321</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Adjustment to environmental remediation provision</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">84</FONT></B>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> &#8212;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Exchange (losses)/gains on external net debt and intragroup balances (including
      those relating to jointly controlled entities and associates)</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(99</FONT></B>
	</TD>
	<TD><b><font size="2" face="Times New Roman, Times, serif">)</font></b>
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">159</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      (Losses)/gains on derivatives not qualifying as hedges (including those
      relating to jointly controlled entities and associates)</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(40</FONT></B>
	</TD>
	<TD><font size="2" face="Times New Roman, Times, serif"><b>)</b></font>
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total excluded in arriving at underlying earnings</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">260</FONT></B>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,025</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>

<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2005
    the net profit on the disposal of interests in businesses was US&#36;311 million relating mainly to the sale of Rio Tinto&#146;s interests in the Labrador Iron Ore Royalty
Income Fund and in Lihir Gold. Disposals in 2004, principally the holding in Freeport-McMoRan Copper &amp; Gold, resulted in gains of US&#36;1,175
million.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
earnings in 2005 include a reduction of US&#36;84 million in an environmental remediation provision at Kennecott Utah Copper, reversing part of an
exceptional charge taken up in 2002 (which was excluded from adjusted earnings in that year). In addition, there was a small reversal of an impairment provision for the Madagascar project following the decision to proceed with the development,
offset by a minor impairment of goodwill. Net earnings in 2004 included an impairment charge of US&#36;160 million relating to the Colowyo coal operation and of US&#36;161 million for the write down of Palabora&#146;s
copper assets.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange
gains and losses on external net debt and intragroup balances that are recorded
in the US dollar income statement, together with gains and losses on currency
and interest rate derivative contracts that do not qualify as hedges under EU
IFRS, are excluded from underlying earnings. In 2005, these items represented
a loss of US&#36;139 million (2004: a gain of US&#36;171
million).</FONT></font></p>
<P><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Cash flow</FONT></B><br>
    <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cash
flow from operations, including dividends from jointly controlled entities and
associates, was a record US&#36;8,257 million, 85 per cent higher than in 2004.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The increase was mainly due to increased profits. This was partly offset by an increased cash outflow on working capital in 2005 mainly reflecting higher
receivables across all product groups due to higher metal prices and sales volumes.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
flow of US&#36;323 million from disposals of interests in businesses in 2005 primarily related to the sale of Lihir. In 2004, disposals generated
proceeds of over US&#36;1.5 billion. The largest components of this were the
sale of</FONT>
</P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">41</FONT></b></td>
  </tr>
</table>


<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p42"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>

<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shares in FCX and the sale of Rio Tinto&#146;s interest in the Morro do Ouro gold mine in Brazil.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group&#146;s investment in the growth of the business was sustained throughout the year. Purchase of property, plant and equipment and intangible
assets of US&#36;2,552 million included the major port and rail infrastructure expansion in Western Australia, payments for coal reserves purchased by Rio Tinto Energy America, the expansion of Hail Creek coking coal and initial expenditure on the
construction of a new dike at Diavik.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During the year the Group repaid US&#36;807 million of its gross outstanding debt and cash balances increased. Dividends paid in 2005 of US&#36;1,141
million were US&#36;235 million higher than dividends paid in 2004 following the 20 per cent increase in the dividend declared in respect of the previous year. A capital return programme was commenced under which an off market buy back of Rio Tinto
Limited shares was carried out, and subsequently an on market buy back of Rio Tinto plc shares. Almost two thirds of the US&#36;1.5 billion capital management programme announced on 3 February 2005 had been completed by the end of January 2006. This programme has now been replaced by a new buy back programme totalling US&#36;2.5 billion to be completed by the end
of 2007, subject to market conditions.</FONT></font></P>
<P><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Balance sheet</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
balance sheet strengthened considerably during the period. Net debt reduced by
US&#36;2,496 million to US&#36;1,313 million. The ratio of net debt to total
capital fell to eight
per cent and interest cover strengthened to 59 times.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
2005, net assets increased by US&#36;3,148 million. The profit for the year was US&#36;4,074 million greater than dividends paid. The share buy back
programme had reduced shareholders&#146; equity by US&#36;877 million by the
end of December 2005.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
adoption of IAS 39 (&#147;Financial Instruments: Recognition and Measurement&#148;) resulted in an increase of US&#36;109
million in net assets on 1 January 2005, less than one per cent of the total.
This represents the net gain on marking to market of derivatives and investments
available for sale.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
detailed in Notes 20 and 23 to the 2005 Financial statements, US&#36;1,190 million (31 per cent) of the Group&#146;s borrowings at the end of 2005
will mature in 2006 and the net asset of US&#36;54 million for related currency
and interest rate swaps will also mature in that year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
the year end, medium and long term borrowings totalled US&#36;2,783 million and there was a net asset of US&#36;234 million for related currency and
interest rate swaps. The amount issued under the Group&#146;s corporate bond and medium term notes programmes was US&#36;2.5 billion net of related swaps, of which US&#36;872
million is repayable within one year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
addition to the above, the Group&#146;s share of the third party net debt of jointly controlled entities and associates totalled US&#36;536
million at 31 December 2005. This debt, which is set out in Note 16 to the 2005
Financial statements, is without recourse to the Rio Tinto Group.</FONT></font></P>
<P><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Listed Company operating results </FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The economic interests of Rio Tinto plc and Rio Tinto Limited were merged in December 1995 as a result of the Dual Listed Companies ('DLC') merger. The DLC merger has the effect that
shareholders can be regarded as having interests in a single economic enterprise that is under common control and management. Accordingly the Operating and Financial Review and Prospects have been presented on a Group basis with the exception of the
separate discussion and analyses relating to the Rio Tinto plc and Rio Tinto Limited parts of the Group respectively provided below as a supplement to the discussion of the Rio Tinto Group set out above. However, shares in Rio Tinto plc and Rio
Tinto Limited both provide shareholders with an interest in the earnings and net assets of the total Group, as if they together were a single economic entity. In other words, a share in Rio Tinto plc provides an economic interest in the same
fraction of the combined earnings and net assets of the Group as a share in Rio Tinto Limited. The separate figures for the two parts of the Group provide analysis of the total Group according to its legal structure, but these separate figures are
not indicative of the economic interest of shareholders in either of the Listed Companies.</FONT></font></P>
<P><font size="2"> <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
Tinto plc &#150; part of Rio Tinto Group<br>
  Operating results 2005 compared with 2004&nbsp;</font></b></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2005</B>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT>      </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>US&#36;m</B>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT>      </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left><font size="2"> &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Profit
      for the year</FONT></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>3,651</B></font></TD>
    <TD width=2%><font size="2">&nbsp;</font> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,336</FONT>
    </TD>
    <TD width=2% align=left><font size="2">&nbsp;</font> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      &#150; attributable to outside equity shareholders</font></TD>
    <TD align=right><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">47</FONT></B>&nbsp;
      </font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(108</FONT>
    </TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left><font size="2"> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;</FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      excluding amounts attributable to outside equity shareholders (net earnings)</FONT></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>3,604</B></font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,444</FONT>
    </TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
</TABLE>

<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2004 outside equity shareholders&#146; interests reflected a US&#36;129 million charge for impairments. In addition, amounts attributable to outside equity shareholders increased
in 2005 because of improved results at Rio Tinto Iron &amp; Titanium and Palabora.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net
earnings of US&#36;3,604 million were US&#36;1,160 million above 2004. This included an increase of US&#36;453 million in Rio Tinto plc&#146;s share
of the net earnings of Rio Tinto Limited. Underlying earnings of US&#36;3,268 million were US&#36;1,659 million above 2004. This included an increase of US&#36;613 million in Rio Tinto plc&#146;s share of the Underlying earnings of Rio Tinto
Limited. The principal factors explaining the changes in net earnings of Rio Tinto plc are shown in the table below. Changes in Rio Tinto Limited&#146;s
net earnings are discussed on page 45.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">42</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p43"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT>
    </TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004 Net earnings of Rio Tinto plc (including share of Rio Tinto Limited)</FONT></TD>
	<TD width=10% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,444</FONT>
	</TD>
	<TD width=2% align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Deduct: Exclusions in arriving at 2004 Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(835</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited) for 2004</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,609</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effect of changes in Rio Tinto plc earnings (</FONT><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">excluding </FONT></B><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">share of Rio Tinto Limited)</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Prices</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">779</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange rates</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(56</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Inflation</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(65</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Volumes</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">751</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Costs</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(397</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Increase in Rio Tinto plc&#146;s share of Rio Tinto Limited Underlying earnings</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">613</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited) for 2005</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,268</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Add: Exclusions in arriving at 2005 Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">336</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 Net earnings of Rio Tinto plc (including share of Rio Tinto Limited)</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,604</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>

<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The discussion below explains the factors underlying the change in Rio Tinto plc earnings excluding its share of Rio Tinto Limited.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
    effect of price movements on all major commodities was to increase earnings
    by US&#36;779 million. Prices for the major products remained strong
throughout the year and were appreciably higher than those experienced in 2004: average copper prices were 28 per cent higher. Molybdenum prices have generally been below US&#36;5 per pound over the last decade but averaged over US&#36;30
per pound
during 2005, although they did soften towards the end of the year. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
US dollar was generally weaker than in 2004 relative to the currencies in which
the Group incurs the majority of its costs. The average level of the Canadian
dollar strengthened against the US dollar by eight per cent. The effect of this,
together with other currency movements, was to reduce underlying earnings relative
to 2004 by US&#36;56 million. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Almost
72 per cent of the underlying earnings increase year on year came from higher
sales volumes, resulting in a favourable variance of US&#36;751
million compared with 2004. To take advantage of the strong market for molybdenum,
the mine sequencing at Kennecott Utah Copper was optimised to maximise molybdenum
production. This, together with modifications to the molybdenum circuit at the
concentrator, boosted production volumes by 130 per cent. The improvement over
2004 also reflected the adverse effect of the Grasberg slippage on that earlier
year. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Excluding
the effects of inflation, higher costs reduced earnings by US&#36;397 million. Of this, US&#36;72 million was due to higher energy costs and
US&#36;41 million was attributable to increased exploration expenditure from
brownfield exploration and further evaluation work. More generally, costs were
influenced by the strong price environment being enjoyed by the mining industry.
This has led to rising mining input costs caused by supply constraints for skilled
labour, steel, tyres, explosives, freight and other mining related goods and
services. Costs at Kennecott Utah Copper were affected by a scheduled 17 day
smelter maintenance
shutdown in the first half of 2005. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Higher
non cash costs reflected increased depreciation at Utah Copper following the
changes in the mine plan at the end of 2004. Increases in closure cost provisions
resulted in higher depreciation charges on the amounts capitalised. One-off costs
reflected restructuring costs of US&#36;30 million relating to the formation
of the Rio Tinto Minerals organisation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#147;Other items&#148; improved by US&#36;34 million. Within that total, the net after tax interest income of US&#36;62 million was US&#36;40 million
higher than in 2004 due to lower levels of net debt and interest from increased funding of Rio Tinto Limited. Also within &#145;Other items&#146;, 2004 underlying earnings included contributions totalling US&#36;73
million from the operations of businesses that were sold during that year. 2005
earnings benefited from an improvement in the net impact of insurance items,
including lower claims on the captive insurer due to the absence of cyclone related
damages experienced in 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
effective tax rate on underlying earnings, including Rio Tinto plc&#146;s share
of Rio Tinto Limited and other associates and jointly controlled entities, was
29.4 per cent compared with 28.1 per cent in 2004. The effective tax rate on
net earnings, including associates and jointly controlled entities was 27.6 per
cent compared with 19.2 per cent in 2004. The lower effective tax rate on net
earnings in both years primarily reflected gains on disposals that did not give
rise to a tax liability.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exclusions
in arriving at underlying earnings, including Rio Tinto plc&#146;s share of those
relating to Rio Tinto Limited, were as follows:</FONT></font></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><font size="2"><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">
      </FONT></I><FONT face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">43</FONT></font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><font size="2"><page><a name="p44"></a><p><a href="#contents">Back to Contents</a></p>


</font>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT>      </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <B><FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT></B>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT>      </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>
    <hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Net profit on the disposal of interests in businesses (including investments)</font></TD>
    <TD width=10% align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>288</B> </font></TD>
    <TD width=2% align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=10% align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      1,037 </font></TD>
    <TD width=2% align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Net impairment reversals/(charges)</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>4</B> </font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      (321 </font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      )</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Adjustment to environmental remediation provision</font></TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>84</B> </font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"><font size="2"> &#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2"> <font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Exchange gains on external net debt and intragroup balances (including those
      relating to jointly </font><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">controlled
      entities and associates)</FONT></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>39</B> </font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      14 </font></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left><font size="2"> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Losses
      on derivatives not qualifying as hedges (including those relating to jointly
      controlled entities </FONT><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      associates)</font></font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>(34</b>
      </font> </TD>
    <TD align=left><font size="2"><b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</font></b>&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(10
      </font> </TD>
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Share of Rio Tinto Limited exclusions in arriving at underlying earnings</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>(45</B> </font></TD>
    <TD align=left><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B>&nbsp;
      </font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      115 </font></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>
      <hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Total excluded in arriving at underlying earnings</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>336</B> </font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      835 </font></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>

  <P><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"> In
        2005 the net profit on the disposal of interests in businesses was US&#36;288 million
    relating mainly to the sale of Rio Tinto plc&#146;s interests in the Labrador
    Iron Ore Royalty Income Fund and in Lihir Gold. Disposals in 2004, principally
    the holding in Freeport-McMoRan Copper &amp; Gold, resulted in gains of US&#36;1,037
    million.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2005
    net earnings include a reduction of US&#36;84 million in an environmental remediation provision at Kennecott Utah Copper, reversing part of an
exceptional charge taken up in 2002 (which was excluded from adjusted earnings in that year). In addition, there was a small reversal of an impairment provision for the Madagascar project following the decision to proceed with the development,
offset by a minor impairment of goodwill. Net earnings in 2004 included an impairment charge of US&#36;160 million relating to the Colowyo coal operation and of US&#36;161 million for the write down of Palabora&#146;s
copper assets. </font><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange
gains and losses on external net debt and intragroup balances that are recorded
in the US dollar income statement, together with gains and losses on currency
and interest rate derivative contracts that do not qualify as hedges under EU
IFRS, are excluded from underlying earnings. In 2005, these items represented
a gain of US&#36;5 million (2004: a gain of US&#36;4 million).</FONT></font></P>
<P><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Cash flow<br>
</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cash
flow from operations, including dividends from jointly controlled entities and
associates, was US&#36;3,546 million, 93 per cent higher than in 2004. The increase
was mainly due
to increased profits.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cash
flow of US&#36;320 million from disposals of interests in businesses in 2005 primarily related to the sale of Lihir. In 2004, disposals generated
proceeds of over US&#36;1.3 billion. The largest components of this were the sale of shares in FCX and the sale of Rio Tinto&#146;s
interest in the Morro do Ouro gold mine in Brazil.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Proceeds
of US&#36;458 million arose from the buyback by Rio Tinto Limited of 16,367,000
of its shares from a Rio Tinto plc subsidiary. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Investment
in the growth of the business was sustained throughout the year. Purchase of
property, plant and equipment and intangible assets of US&#36;824
million included payments for coal reserves purchased by Rio Tinto Energy America
and initial expenditure on the construction of a new dike at Diavik.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Loans
of US&#36;950 million were advanced to Rio Tinto Limited compared to US&#36;1,271 million in 2004 and there were net proceeds from external loans
of US&#36;57 million against net payments of US&#36;421 million in 2004. </FONT></font></p>

<P><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Balance sheet<br>
</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
balance sheet strengthened considerably during the period and net assets increased
by US&#36;2,615 million. The profit for the year was US&#36;2,714 million greater than dividends
paid. By the end of 2005 the share buyback programme had reduced shareholders&#146; equity by US&#36;103
million.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">External
net debt reduced by US&#36;1,080 million to US&#36;584 million and loans to Rio Tinto Limited increased by US&#36;1,430 million to US&#36;3,388
million. Included in this increase is a reclassification of US&#36;500 million of preference share capital issued by a subsidiary of Rio Tinto Limited to a subsidiary of Rio Tinto plc from &#147;investments in associates&#148; to &#147;loans to Rio
Tinto Limited&#148;. This reclassification took place with effect from 1 January 2005 on adoption of IAS 32 &#147;Financial Instruments: Disclosure and Presentation&#148;.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
adoption of IAS 39 resulted in an increase of US&#36;72 million in net assets
on 1 January 2005, less than one per cent of the total. This represents the net
gain on marking to market of derivatives and investments available for sale.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
detailed in Notes 23 and 20 to the 2005 Financial statements, US&#36;565 million (27 per cent) of the Rio Tinto plc part of the Group&#146;s
borrowings at the end of 2005 will mature in 2006 and the net asset of US&#36;53
million for related currency and interest rate swaps will also mature in that
year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
the year end, medium and long term borrowings totalled US&#36;1,539 million and there was a net asset of US&#36;254
million for related currency and
interest rate swaps. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
addition to the above, the Rio Tinto plc part of the Group&#146;s share of the third party net debt of jointly controlled entities and associates
excluding Rio Tinto Limited totalled US&#36;362 million at 31 December 2005.
This debt, which is set out in note 16 to the 2005 Financial statements, is without
recourse to the Rio Tinto Group.</FONT></font></p>

<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><font size="2"><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">
      </FONT></I><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">44</FONT></font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">


<div style="page-break-before:always"></div><page><a name="p45"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
Tinto Limited &#150; part of Rio Tinto Group</font></b><br>
<b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Operating
results 2005 compared with 2004</font></b></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="2"><font size="2">&nbsp;</font>	</TD>
	<TD align="right"><b>
    <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005<br>
    </FONT></b></TD>
	<TD rowspan="2" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD align="right"><p><font size="2">
      <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004<br>
      </FONT></font></p>
    </TD>
    <TD rowspan="2"><font size="2">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</font></b></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Profit for the year</FONT></TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,812</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,446</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; attributable to outside equity shareholders</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">236</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">81</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; excluding amounts attributable to outside equity shareholders (net earnings)</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,576</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,365</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Amounts attributable to outside equity shareholders increased because of improved results at Robe, the Iron Ore Company of Canada and Coal &amp; Allied.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net earnings of US&#36;2,576 million were US&#36;1,211 million above 2004. Underlying earnings of US&#36;2,697 million were US&#36;1,637 million above
2004. The principal factors explaining the changes in net earnings are shown in the table below.</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT>	</TD>
	<TD><font size="2">&nbsp;</font>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004 Net earnings</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,365</FONT>
	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exclusions in arriving at 2004 Underlying earnings</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(305</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004 Underlying earnings</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,060</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effect of changes in:</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prices</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,595</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange rates</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(67</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inflation</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(76</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Volumes</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">389</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costs</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(201</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(3</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 Underlying earnings</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,697</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Add: Exclusions in arriving at 2005 Underlying earnings</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(121</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 Net earnings</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,576</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="2" noshade>
</TD>
  <TD align=right><hr size="2" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The effect of price movements on all major commodities was to increase earnings by US&#36;1,595 million. Prices for the major products remained strong throughout the year and were
appreciably higher than those experienced in 2004: average aluminium prices were ten per cent higher. The strength of the global iron ore market was reflected in the 71.5 per cent increase in the benchmark price, mainly effective from 1 April 2005.
The seaborne thermal and coking coal markets were also strong.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The US dollar was generally weaker than in 2004 relative to the currencies in which the Group incurs the majority of its costs. The average levels of the
Australian and Canadian dollars strengthened against the US dollar by four per cent and eight per cent, respectively. The effect of this, together with other currency movements, was to reduce underlying earnings relative to 2004 by US&#36;67
million. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Higher sales volumes increased earnings by US&#36;389 million compared with 2004. The West Angelas and Yandicoogina (to 36 million tonnes per annum) mine
expansions were completed in 2005, whilst strong operational performance led to major production gains at many operations including the Iron Ore Company of Canada and Argyle Diamonds. The improvement over 2004 also reflected the following adverse
influences on that earlier year: the ten week strike at the Iron Ore Company of Canada and the effects of Hurricane Monty at Hamersley and Robe.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Excluding the effects of inflation, higher costs reduced earnings by US&#36;201 million. Of this, US&#36;58 million was due to higher energy costs. More
generally, costs were influenced by the strong price environment being enjoyed by the mining industry. This has led to rising mining input costs caused by supply constraints for skilled labour, steel, tyres, explosives, freight and other mining
related goods and services. Continued port congestion at Dalrymple Bay, Queensland, fed through to higher demurrage charges. Increases in closure cost provisions resulted in higher depreciation charges on the amounts capitalised. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The effective tax rate on underlying earnings, including associates and jointly controlled entities, was 30.0 per cent compared with 28.9 per cent in
2004. The effective tax rate on net earnings, including associates and jointly controlled entities was 29.9 per cent compared with 26.0 per cent in 2004. The lower effective tax rate on net earnings in 2004 primarily reflected gains on disposals
that did not give rise to a tax liability.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In total &#147;Other items&#148; worsened by US&#36;3 million. Within that total, the net after tax interest expense was higher than in 2004 with
interest payable on increased funding from Rio Tinto plc outweighing the effect of lower levels of external net debt. Also within &#145;Other items&#146;, 2004 underlying earnings included contributions totalling US&#36;15 million from the
operations of businesses that were sold during that year. Against this there was a benefit from the net impact of insurance items and from tax relief on share option costs.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">45</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p46"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exclusions
in arriving at underlying earnings were as follows:</font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="2"><font size="2">&nbsp;</font>	</TD>
	<TD align="right"><b>
    <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005<br>
    </FONT></b></TD>
	<TD rowspan="2" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004<br>
      </FONT></TD>
    <TD rowspan="2"><font size="2">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</font> </b></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net profit on the disposal of interests in businesses (including investments)</FONT></TD>
	<TD width=8% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">23</FONT></B>
	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">138</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange (losses)/gains on external net debt and intragroup balances (including those relating to</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">jointly controlled entities and associates)</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(138</FONT></B>
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">145</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Losses)/gains on derivatives not qualifying as hedges (including those related to jointly controlled</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">entities and associates)</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(6</FONT></B>
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total excluded in arriving at underlying earnings</FONT></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(121</FONT></B>
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">305</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
</TABLE>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2005 the net profit on the disposal of interests in businesses was US&#36;23 million including final adjustments in respect of the 2004 disposal of a ten per cent interest in Hail
Creek and Rio Tinto Limited&#146;s interest in Zinkgruvan. The disposal of these operations resulted in a gain of US&#36;138 million in 2004.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exchange gains and losses on external net debt and intragroup balances that are recorded in the US dollar income statement, together with gains and
losses on currency and interest rate derivative contracts that do not qualify as hedges under EU IFRS, are excluded from underlying earnings. In 2005, these items represented a loss of US&#36;144 million (2004: a gain of US&#36;167
million).</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Cash flow</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cash flow from operations, including dividends from jointly controlled entities and associates, was US&#36;4,861 million, 76 per cent higher than in 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"> The increase was mainly due to increased profits. This was partly offset by an increased cash outflow on working capital in 2005 mainly reflecting
higher receivables due to higher metal prices and sales volumes.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Limited&#146;s investment in the growth of the business was sustained throughout the year. Purchase of property, plant and equipment and
intangible assets of US&#36;1,728 million included the major port and rail infrastructure expansion in Western Australia and the expansion of Hail Creek coking coal.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During the year, funding of US&#36;950 million was received from Rio Tinto plc. Rio Tinto Limited repaid US&#36;713 million of its gross outstanding debt
and cash balances increased significantly. A capital return programme was commenced under which an off-market buy back of Rio Tinto Limited shares was carried out which resulted in a cash outflow of US&#36;774 million in respect of purchases from
public shareholders and a cash outflow of US&#36;458 million in respect of purchases from Rio Tinto plc.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Balance sheet</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2005, net assets increased by US&#36;289 million. The profit for the year was US&#36;2,175 million greater than dividends paid, however this was largely offset by the effect of
share buybacks, the implementation of IAS 32 (&#147;Financial Instruments: Disclosure and Presentation&#148;) and adverse currency translation movements. The share buyback programme, including the buyback from Rio Tinto plc, reduced
shareholders&#146; equity by US&#36;1,232 million by the end of December 2005. The adoption of IAS 32 and IAS 39 resulted in a net reduction of US&#36;447 million in net assets on 1 January 2005. This represents the net gain on marking to market of
derivatives and investments available for sale, offset by the effect of reclassifying US&#36;500 million of preference share capital held by a Rio Tinto plc subsidiary in a Rio Tinto Limited subsidiary from outside shareholders&#146; interests to
debt.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">External net debt reduced by US&#36;1,416 million to US&#36;729 million partly offset by an increase in amounts due to Rio Tinto plc of US&#36;1,430
million to US&#36;3,388 million. This includes the reclassification explained above of preference share capital of US&#36;500 million from outside shareholders&#146; interests to loans on adoption of IAS 32.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As detailed in note 23 to the 2005 Financial statements, US&#36;625 million (33 per cent) of Rio Tinto Limited&#146;s external borrowings at the end of
2005 will mature in 2006. In addition, US&#36;2,888 million of borrowings from Rio Tinto plc is held at call.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At the year end, external medium and long term borrowings totalled US&#36;1,244 million and there was a net liability of US&#36;20 million for related
currency and interest rate swaps.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In addition to the above, the Rio Tinto Limited part of the Group&#146;s share of the third party net debt of jointly controlled entities and associates
totalled US&#36;174 million at 31 December 2005. This debt, which is set out in Note 16 to the 2005 Financial statements, is without recourse to the Rio Tinto Group.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Liquidity and capital resources</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The unified credit status of the Group is maintained through cross guarantees whereby contractual obligations of Rio Tinto plc and Rio Tinto Limited are automatically guaranteed by
the other. Rio Tinto plc and Rio Tinto Limited enjoy strong long and short term credit ratings from Moody&#146;s and Standard and Poor&#146;s. These ratings continue to provide financial flexibility and consistent access to debt via money or capital
markets and enable very competitive terms to be obtained.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group maintains backup liquidity for debt maturing within 12 months and its commercial paper programmes by way of bank standby credit facilities,
which totalled US&#36;2.3 billion at 31 December 2005. These facilities, which were unused at the year end, can be drawn upon at any time on terms extending out to five years.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">46</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p47"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As at 31
    December 2005, the Group had contractual cash obligations arising in the
ordinary course of business as follows:</font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="4" align=left><b>
    <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Contractual cash obligations</FONT></b></TD>
	<TD rowspan="4"><font size="2">&nbsp;</font></TD>
	<TD rowspan="3" align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total<br>
      </FONT></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Less<br>
      </FONT></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Between<br>
      </FONT></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Between<br>
      </FONT></TD>
	<TD rowspan="4" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD rowspan="2" align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">After 5<br>
      </FONT></TD>
    <TD rowspan="4"><font size="2">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">than
    1</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
    and 3</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3
    and 5</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">years</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">years</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">years</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Debt (a)</FONT></TD>
	<TD width=2% align=right>&nbsp;</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,697</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,148</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,707</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">162</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">680</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Operating leases</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Unconditional purchase obligations (b)</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,982</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,263</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">740</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,014</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Deferred consideration (c)</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">179</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other (d)</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,322</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,159</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">130</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9,293</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,397</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,185</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">986</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,725</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="top">
	<TD colspan="2" align=left>
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B></TD>
  </TR>
<TR valign="top">
	<TD width=3% align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
	<TD align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Debt obligations include bank borrowings repayable on demand and reflect the impact of related currency and interest rate swaps.</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
	<TD align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Unconditional
      purchase obligations relate to commitments to make payments in the future
      for fixed or minimum quantities of goods or services at fixed or minimum
      prices. The future payment commitments have not been discounted and mainly
      relate to commitments under
      relating to the Group&#146;s tolling arrangements.</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT></TD>
	<TD align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Deferred consideration relates to the purchase of coal reserves by Rio Tinto Energy America.</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</FONT></TD>
	<TD align=left>
      <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other relates primarily to capital commitments.</FONT></TD>
</TR>
</TABLE>
<P>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Information
  regarding the Group&#146;s pension commitments and funding arrangements is
  provided in the Post-retirement benefits section of this Financial review and
  in Notes 49 and 52
to the 2005 Financial Statements.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"> On
the basis of the levels of obligations described above, the unused capacity under
the Group&#146;s commercial paper and European Medium Term Notes
programmes, the Group&#146;s anticipated ability to access debt and equity capital
markets in the future and the level of anticipated free cash flow, there are
reasonable grounds to believe that the Group has sufficient short and long term
sources
of funding available to meet its liquidity requirements.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group&#146;s committed bank standby facilities contain no financial undertakings relating to interest cover. The Group has no financial agreements
that would be affected to any material extent by a reduction in the Group&#146;s
credit rating.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group&#146;s policy is to centralise debt and surplus cash balances whenever
possible.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Off balance sheet arrangements</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the ordinary
course of business, to manage the Group&#146;s operations and financing, Rio
Tinto enters into certain arrangements, which for the purposes of Item 5 would
be
considered off balance sheet arrangements,<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Rio Tinto Group&#146;s off balance
  sheet arrangements are comprised principally of performance guarantees and
commitments for capital and other expenditure.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;The
aggregate amount of indemnities and other performance guarantees, on which no
material loss is expected, including those related to joint ventures and associates,
was US&#36;513 million at 31 December 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other commitments include contracted capital expenditure, operating leases and unconditional purchase obligations as set out in the table of contractual
cash obligations, included in the liquidity and capital resources section above.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exchange rates, reporting currencies and currency exposure</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s shareholder&#146;s equity, earnings and cash flows are influenced by a wide variety of currencies due to the geographic diversity of the Group&#146;s sales and the
countries in which it operates. The US dollar, however, is the currency in which the great majority of the Group&#146;s sales are denominated. Operating costs are influenced by the currencies of those countries where the Group&#146;s
mines and processing plants are located and also by those currencies in which
the costs of imported equipment and services are determined. The Australian and
Canadian dollars are the most important currencies influencing costs, apart from
the US
dollar.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
any particular year, currency fluctuations may have a significant impact on Rio
Tinto&#146;s financial results. A weakening of the US dollar against
the currencies in which the Group&#146;s costs are determined has an adverse effect on Rio Tinto&#146;s
underlying earnings.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">However,
this would also result in exchange gains on net debt denominated in US dollars
which has a positive effect on Rio Tinto&#146;s EU IFRS profit
and net earnings. It would also result in exchange gains and losses on intragroup
balances denominated in US dollars. Such gains (and losses) on US dollar net
debt and intragroup balances are excluded from underlying earnings.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The following sensitivities give the estimated effect on underlying earnings assuming that each exchange rate moved in isolation. The relationship
between currencies and commodity prices is a complex one and movements in exchange rates can cause movements in commodity prices and vice versa. Where the functional currency is that of a country for which production of commodities is an important
feature of the economy, such as the Australian dollar, there is a certain degree of natural protection against cyclical fluctuations in the long term, in that the currency tends to be weak, reducing costs in US dollar terms, when commodity prices
are low, and vice versa.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The exchange rate sensitivities quoted below include the effect on operating costs of movements in exchange rates but exclude the effect of the
revaluation of foreign currency working capital, US dollar net debt and intragroup balances. They should therefore be used with care.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">47</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p48"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="5"><font size="2">&nbsp;</font>	</TD>
	<TD rowspan="2" align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average<br>
      </FONT></TD>
	<TD rowspan="5" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005<br>
      </FONT></TD>
    <TD rowspan="5"><font size="2">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effect
    of</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">exchange</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10%
    change in</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">rate
    for</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">full
    year average</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font> </TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">+/-
    US&#36;m</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian dollar</FONT></TD>
	<TD width=12% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76 US cents</FONT>
	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=12% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">242</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Canadian dollar</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83 US cents</FONT>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chilean peso</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;1= 561
pesos</FONT>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Indonesian rupiah</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;1 = 9,708 rupiah</FONT>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">New Zealand dollar</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71 US cents</FONT>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">South African rand</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16 US cents</FONT>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">UK sterling</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">182 US cents</FONT>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT>
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD>&nbsp;</TD>
</TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The sensitivities in the 2005 column are based on 2005 prices, costs and volumes and assume that all other variables remain constant.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gains and losses on exchange arising from net monetary assets/(liabilities), other than US dollar net debt and intragroup balances, that are not
denominated in the functional currency of the relevant business unit are recorded in the income statement and are included in underlying earnings. The table below reflects the amounts of assets less liabilities, net of tax and outside interests as
at the end of 2005, which expose the Group to such exchange gains and losses. These balances will not remain constant throughout 2006, however, and therefore these numbers should be used with care.</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD>&nbsp;	</TD>
	<TD>&nbsp;</TD>
	<TD colspan=3 align="center"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Currency
    of exposure</font> </TD>
	<TD align="right">&nbsp;	</TD>
	<TD align="right">&nbsp;	</TD>
    <TD>&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
	<TD rowspan="2"><div align="left"><font size="2"></font></div></TD>
	<TD rowspan="2">&nbsp;</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US dollar<br>
      </FONT></TD>
	<TD rowspan="2" align="right">&nbsp;	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other<b><br>
      </b></FONT></TD>
	<TD rowspan="2" align="right">&nbsp;	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005<br>
      </FONT></TD>
    <TD rowspan="2">&nbsp;</TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font> </TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">Functional
    currency of business unit:</font></font></TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian dollar</FONT></TD>
	<TD width=2% align=right>&nbsp;</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">368</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(1</FONT>
	</TD>
	<TD width=2% align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">367</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Canadian dollar</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">94</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">98</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">South African rand</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other currencies</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total</FONT></B></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">554</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">562</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Given the dominant role of the US currency in the Group&#146;s affairs, the US dollar is the currency in which financial results are presented both internally and externally. It is
also the most appropriate currency for borrowing and holding surplus cash, although a portion of surplus cash may also be held in other currencies, most notably Australian dollars, in order to meet short term operational and capital commitments and
dividend payments.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group finances its operations primarily in US dollars, either directly or using currency swaps, and a substantial part of the Group&#146;s US dollar
debt is located in subsidiaries having functional currencies other than the US dollar. Exchange differences on the net debt which hedges the net assets of entities with functional currencies other than the US dollar are dealt with through equity.
All other exchange differences on net debt are dealt with in the income statement, but those related to US dollar net debt are excluded in arriving at underlying earnings. Similarly, exchange gains and losses which arise on balances between Group
entities are taken to equity where that balance is denominated in the functional currency of one party to the loan and is, in substance, part of the Group&#146;s net investment in a subsidiary. All other exchange differences on intragroup balances
are dealt with in the income statement but are excluded from underlying earnings.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The table below reflects the amounts of net debt and intragroup balances at the end of 2005, net of tax and outside interests, that expose the Group to
such exchange gains and losses that would be recorded in the income statement. These balances will not remain constant during 2006, however, and these numbers should therefore be used with care.</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="2"><font size="2">&nbsp;</font>	</TD>
	<TD colspan="3" align="center">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net debt
    (a)<br>
    </FONT></TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD colspan="3" align="center">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Intragroup
    balances<br>
    </FONT></TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD rowspan="2" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD rowspan="2"><font size="2">&nbsp;</font>	</TD>
</TR>
<TR align="center" valign="bottom">
  <TD colspan="3" align="center"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Currency
    of exposure</font></TD>
  <TD colspan="3" align="center"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Currency
    of exposure</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD><font size="2">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
</TR>
<TR align="center" valign="bottom">
	<TD><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> US&#36;m</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> US&#36;m</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align="right">      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT>	</TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align="right">      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT>	</TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> US&#36;m</FONT></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align="right">      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT>	</TD>
	<TD><font size="2">&nbsp;</font>	</TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Functional currency of business unit:</FONT></TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian dollar</FONT></TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(890</FONT>
	</TD>
	<TD width="2%" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(887</FONT>
	</TD>
	<TD width="2%" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(1,862</FONT>
	</TD>
	<TD width="2%" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">224</FONT></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="8%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(1,638</FONT>
	</TD>
	<TD width="2%" align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Canadian dollar</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(536</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(535</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(216</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(216</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">South African rand</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(62</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(62</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(131</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(131</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">United States dollar</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</FONT>	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">167</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">167</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other currencies</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(88</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(73</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(1,484</FONT></B>
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">19</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(1,465</FONT></B>
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(2,297</FONT></B>
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">406</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(1,891</FONT></B>
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">)</FONT></B></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="top">
	<TD colspan="2" align=left>
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</FONT></B>	</TD>
  </TR>
<TR valign="top">
	<TD width=3% align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The table shows
amounts after taking account of the impact of currency swaps. Of the US&#36;890
million of net debt in Australian functional currency
companies,
US&#36;58 million has been swapped to US&#36;. The underlying currencies are:
five billion yen and 20 million Swiss Francs. Similarly,
of the US&#36;536 million of net debt in Canadian functional currency companies,
US&#36;366 million has been swapped to US&#36;. The
underlying
currencies are: &#163;165 million and 16 billion yen.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">48</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p49"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>

<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group does not generally believe that active currency hedging would provide long term benefits to shareholders. Currency protection measures may be deemed appropriate in specific
commercial circumstances and are subject to strict limits laid down by the Rio Tinto board. As set out in Note 35 to the 2005 Financial statements, as at 31 December 2005 there were derivative contracts to sell US&#36;512 million in respect of
future trading transactions. A significant part of the above hedge book was acquired with North Limited. North held a substantial hedge book on acquisition which has been retained but is not being renewed as maturities occur.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The functional currency of most operations within the Rio Tinto Group is the local currency in the country of operation. Foreign currency gains or losses
arising on translation of the net assets of these operations are taken to equity and, with effect from 1 January 2004, recorded in a currency translation reserve. The approximate translation effects on the Group&#146;s net assets of ten per cent
movements from the year end exchange rates are as follows:</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD rowspan="5"><font size="2">&nbsp;</font>	</TD>
	<TD rowspan="2" align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Closing<br>
      </FONT></TD>
	<TD rowspan="5" align="right"><font size="2">&nbsp;</font>	</TD>
	<TD align="right">
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005<br>
      </FONT></TD>
	<TD rowspan="5"><font size="2">&nbsp;</font>	</TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effect
    of</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">exchange</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10%
    change</font><font size="2"> <font face="TimesNewRomanPSMT,Times New Roman,Times,serif">in</font></font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">rate</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">closing
    rate</font></TD>
</TR>
<TR align="center" valign="bottom">
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US
    cents</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">+/-
    US&#36;m</font> </TD>
</TR>
<TR align="center" valign="bottom">
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian dollar</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73</FONT></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">910</FONT>
	</TD>
	<TD width=2% align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Canadian dollar</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">86</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">134</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">South African rand</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(12</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">UK sterling</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">173</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align="center"><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Interest rates</FONT></B><font size="2"><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s interest rate management policy is generally to borrow and invest cash at floating rates. Short term US dollar rates are normally lower than long term rates,
resulting in lower interest costs to the Group. Furthermore, cyclical movements of interest rates tend to compensate in the long term, to an extent, for those of commodity prices. In some circumstances, an element of fixed rate funding may be
considered appropriate. At the end of 2005, US&#36;0.7 billion of the Group&#146;s debt was at fixed rates after taking into account interest rate swaps. Based on the Group&#146;s net debt at 31 December 2005, and with other variables unchanged, the
approximate effect on the Group&#146;s net earnings of a one percentage point increase in US dollar LIBOR interest rates would be a reduction of US&#36;4 million.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Commodity prices</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group&#146;s normal policy is to sell its products at prevailing market prices. Exceptions to this rule are subject to strict limits laid down by the Rio Tinto board and to rigid
internal controls. Rio Tinto&#146;s exposure to commodity prices is diversified by virtue of its broad commodity spread and the Group does not generally believe commodity price hedging would provide long term benefit to shareholders. The forward
contracts to sell 509 million pounds of copper at a fixed rand price per pound were entered into as a condition of the refinancing of Palabora in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Metals such as copper and aluminium are generally sold under contract, often long term, at prices determined by reference to prevailing market prices on
terminal markets, such as the London Metal Exchange and COMEX in New York, usually at the time of delivery. Prices fluctuate widely in response to changing levels of supply and demand but, in the long run, prices are related to the marginal cost of
supply. Gold is also priced in an active market in which prices respond to daily changes in quantities offered and sought. Newly mined gold is only one source of supply; investment and disinvestment can be important elements of supply and demand.
Contract prices for many other natural resource products are generally agreed annually or for longer periods with customers, although volume commitments vary by product.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Approximately 43 per cent of Rio Tinto&#146;s 2005 net earnings from operating businesses came from products whose prices were terminal market related
and the remainder came from products priced by direct negotiation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Commodity prices increased rapidly in 2004 and 2005. Rio Tinto expects that economic growth will continue the positive trend of 2005 for the time being,
even if rates of growth slow somewhat. This, in turn, should result in a continuation of strong markets for our products and prices above the long term trend. However, the current strong markets cannot be expected to continue indefinitely. At some
point, the supply position will become more balanced, which will lead to a downturn in the cycle. We cannot predict when this will occur. Such a downturn would reduce revenues, cash flows and earnings.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore reserves presented on pages 19 to 29 do not exceed the quantities that, it is estimated, could be extracted economically if future prices were to be
in line with the average of historical prices for the three years to 30 June 2005, or contracted prices where applicable. For this purpose, contracted prices are applied only to future sales volumes for which the price is predetermined by an
existing contract; and the average of historical prices is applied to expected sales volumes in excess of such amounts. Moreover, reported ore reserve estimates have not been increased above the levels expected to be economic based on Rio Tinto's
own long term price assumptions. Therefore, a reduction in commodity prices from the three year average historical price levels would not necessarily give rise to a reduction in reported ore reserves. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The table below shows published &#145;benchmark&#146; prices for Rio Tinto&#146;s commodities for the last three years where these are publicly
available, and where there is a reasonable degree of correlation between the benchmark and Rio</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">49</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p50"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto&#146;s realised prices. The prices set out in the table are the averages for each of the calendar years, 2003, 2004 and 2005. The Group&#146;s revenue will not necessarily move
in line with these benchmarks for a number of reasons which are discussed below.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2003</font></b></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</font></b></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</font></b></TD>
  <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>Commodity</B></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>Source</B></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>Unit</B></font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;</FONT></B>    </TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B><FONT size=2>US&#36;</FONT></B> </font></TD>
	<TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="right"><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B><FONT size=2>US&#36;</FONT></B> </font></TD>
	<TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD></TR>
<TR valign="bottom">
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD>&nbsp;</TD></TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium</FONT></TD>
	<TD width="2%" align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">LME</FONT></TD>
	<TD width=2% align=left>&nbsp;</TD>
	<TD width=8% align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></div></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.65</FONT>
	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.78</FONT>
	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.86</FONT>
	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">LME</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.80</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.30</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.66</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">LBMA</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">364</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">409</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">444</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Iron ore</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian benchmark (fines)</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">dmtu*</FONT></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.30</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.35</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.55</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lead</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">LME</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.23</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.40</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.44</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Molybdenum</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Metals Week: quote for dealer oxide price</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.2</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.9</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31.1</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Silver</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">LBMA</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.9</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.6</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.3</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Zinc</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">LME</FONT></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>
      <div align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></div></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.38</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.48</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.63</FONT>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">* =
    dry metric tonne unit</FONT></td>
  </tr>
</table>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The discussion of revenues below relates to the Group&#146;s gross turnover from sales of commodities, including its share of the turnover of equity
accounted units, see Note 34 to the 2005 Financial statements.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The revenues from aluminium and related products such as alumina and bauxite increased by 18 per cent in 2005. Average prices quoted on the LME increased
by 10 per cent in 2005. In addition to these price increases, revenues reflected increased sales volumes, including the ramp up of output from the Comalco Alumina Refinery, which commenced shipments in November 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A significant proportion of Rio Tinto&#146;s coal production is sold under long term contracts. In Australia, the prices applying to sales under the long
term contracts are generally renegotiated annually; but prices are fixed at different times of the year and on a variety of bases. For these reasons</FONT></font><FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">,</FONT><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif"> average realised prices will not necessarily reflect the movements in any of the publicly quoted benchmarks. Moreover, there are significant product specification differences between
mines.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Revenues of the Group&#146;s Australian coal operations increased by 45 per cent in 2005, benefiting from a significant increase in prices realised on
sales both of thermal and coking coal. Published market indications for Australian thermal coal show a reduction of 10 per cent in 2005 compared with 2004. The coking coal benchmark price increased by 99 per cent in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the US, Rio Tinto Energy America&#146;s revenues increased by six per cent in 2005, with benefits from higher prices limited by the influence of long
term contracts. Published market indications of spot prices for Wyoming thermal coal show an increase of 61 per cent in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group&#146;s copper revenues in 2005 were 33 per cent higher than in 2004 while the average LME copper price increased by 28 per cent. Revenues
benefited both from the increase in prices and from increased volumes, including the effect of a return to full operations at Grasberg. A pit wall slippage in 2003 had reduced output from Grasberg in 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diamond revenue increased 45 per cent in 2005 against 2004. There was a six per cent increase in the Diamond Trading Company (DTC) indicated price for
rough diamonds in the year, but the majority of the increase in revenues was attributable to higher volumes at Argyle and the commencement of the Murowa operation. While movements in the DTC price are a general indicator of the overall rough diamond
market, they do not necessarily correlate closely with prices actually realised by Rio Tinto, which reflect the particular type of diamonds in its diverse product mix.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold revenues in 2005 were 19 per cent higher than in 2004 while the average LBMA gold price increased by nine per cent year on year. Revenues benefited
from the price increase and also from the very substantial recovery in sales volumes at Grasberg which more than offset the effects of the disposal of Morro do Ouro in 2004 and the closure of Kelian early in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group&#146;s revenue from industrial minerals increased by 17 per cent in 2005 against 2004. This was mainly attributable to strong price performance
across all products at Rio Tinto Iron and Titanium and increased volumes, particularly at Richards Bay Minerals. Sales are made under contract at negotiated prices. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Australian iron ore fines benchmark (average for the calendar year) increased
by 57 per cent in 2005 compared with 2004. This contributed to an  increase in
the Group&#146;s iron ore revenue of 88 per cent, with the additional benefits
of volume increases from the West Angelas and Yandicoogina expansions and the
recovery of output at Iron Ore Company of Canada, after a ten week strike in

2004.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lead,
zinc and silver accounted for less than two per cent of revenue in each of the
two years to 2005.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average molybdenum prices quoted in Metals Week in 2005 almost doubled from the 2004 level. Sales revenue was over five times higher. In addition to the
higher prices, this reflected a major step up in volumes achieved through changes in the mine plan at Kennecott Utah Copper to maximise molybdenum production in response to the strong market.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Uranium revenue increased by 23 per cent in 2005 as a result of higher prices. Information included in the RWE NUKEM Inc. Price Bulletin indicated price
increases of 54 per cent in 2005. However, these large increases are not fully reflected in the revenues for the period. Uranium oxide is typically sold on long term contracts with pricing determined for several years beyond the commencement of the
contracts. Prices realised by the Group in any particular year will generally not, therefore, reflect changes reported in the Price Bulletin.</FONT></font></P>
<P>&nbsp;</P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">50</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p51"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The approximate effect on the Group&#146;s net earnings of a ten per cent change from the full year average market price in 2005 for the following metals
would be:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD align=left><font size="1">&nbsp;</font><font size="1">&nbsp;</font><font size="1">&nbsp;</font><font size="1">&nbsp;</font></TD>
  <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Unit</font><font size="2">&nbsp;</font></TD>
  <TD align="right"><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average</font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
  market
  price</font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
for 2005</font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
US&#36;</FONT>    </TD>
  <TD align="right"><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font></TD>
  <TD align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Effect
    of 10%</font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
change in full</font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
year average</font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
    +/- US&#36;m</FONT></TD>
  <TD align="right"><font size="1">&nbsp;</font><font size="1">&nbsp;</font><font size="1">&nbsp;</font><font size="1"><b></b></font></TD>
</TR>
<TR>
  <TD align=left valign="bottom"><hr noshade size="1"></TD>
  <TD align=right valign="bottom"><hr noshade size="1"></TD>
  <TD valign="bottom"><hr noshade size="1"></TD>
  <TD align=right valign="bottom"><hr noshade size="1"></TD>
  <TD align=left valign="bottom"><hr noshade size="1"></TD>
  <TD align=right valign="bottom"><hr noshade size="1"></TD>
  <TD align=right valign="bottom"><font size="1">&nbsp;</font></TD></TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper</FONT></TD>
	<TD width=8% align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD width=2% valign="bottom">&nbsp;
	</TD>
	<TD width=8% align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.66</FONT>
	</TD>
	<TD width=2% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=8% align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">215</FONT></TD>
    <TD width=2% align=right valign="bottom">&nbsp;</TD>
</TR>
<TR>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium</FONT></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.86</FONT>
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">114</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold</FONT></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ounce</FONT></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">444</FONT>
	</TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
</TR>
<TR>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Molybdenum</FONT></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pound</FONT></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31.0</FONT>
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
</TR>
<TR>
  <TD align=left valign="bottom"><hr noshade size="1">
  </TD>
  <TD align=right valign="bottom"><hr noshade size="1">
  </TD>
  <TD valign="bottom"><hr noshade size="1">
  </TD>
  <TD align=right valign="bottom"><hr noshade size="1">
  </TD>
  <TD align=left valign="bottom"><hr noshade size="1">
  </TD>
  <TD align=right valign="bottom"><hr noshade size="1">
  </TD>
  <TD align=right valign="bottom">&nbsp;</TD>
</TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The above sensitivities are based on 2005 volumes and give the estimated impact on net earnings of changes in prices assuming that all other variables remain constant. These should be
used with care. As noted previously, the relationship between currencies and commodity prices is a complex one and changes in exchange rates can influence commodity prices and vice versa.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Treasury management and financial instruments</FONT></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Treasury activities operate as a service to the business of the Rio Tinto Group and not as a profit centre. Strict limits on the size and type of transaction permitted are laid down
by the Rio Tinto board and are subject to rigorous internal controls. Corporate funding and overall strategic management of Rio Tinto&#146;s balance sheet is handled by the London based Group Treasury.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto does not acquire or issue derivative financial instruments for trading or speculative purposes; nor does it believe that it has exposure to
such trading or speculative holdings through its investments in joint ventures and associates. Derivatives are used to separate funding and cash management decisions from currency exposure and interest rate management. The Group uses interest rate
swaps in conjunction with longer term funds raised in the capital markets to achieve a floating rate obligation which is consistent with the Group&#146;s interest rate policy. Currency swaps are used to convert debt or investments into currencies,
primarily the US dollar, which are consistent with the Group&#146;s policy on currency exposure management. No material exposure is considered to exist by virtue of the possible non performance of the counterparties to financial instruments held by
the Group.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The derivative contracts in which the Group is involved are valued by reference to quoted market prices, quotations from independent financial
institutions or by discounting expected cash flows.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dividends</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends paid on Rio Tinto plc and Rio Tinto Limited shares are equalised on a net cash basis; that is without taking into account any associated tax credits. Dividends are
determined in US dollars.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s progressive dividend policy aims to increase the US dollar value of dividends over time, without cutting them in economic downturns. Rio
Tinto plc shareholders receive dividends in pounds sterling and Rio Tinto Limited shareholders receive dividends in Australian dollars, which are determined by reference to the exchange rates applicable to the US dollar two days prior to the
announcement of dividends. Changes in exchange rates could result in a reduced sterling or Australian dollar dividend in a year in which the US dollar value is maintained or increased. The interim dividend for each year in US dollar terms will be
equivalent to 50 per cent of the total US dollar dividends declared in respect of the previous year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As part of the Group&#146;s capital management programme, a special dividend of US&#36;1.5 billion (US&#36;1.10 per share) was declared in respect of
2005 which was paid concurrently with the 2005 final ordinary dividend. The special dividend does not form part of the Group&#146;s progressive dividend policy.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Capital management programme</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On 3 February
2005, a capital management programme to return up to US&#36;1.5 billion to shareholders
by the end of 2006 was announced and in February 2006 the Group announced an

extended capital management programme totalling US&#36;4.0 billion, comprising
the US&#36;1.5 billion special dividend referred to above, and a share buy back
programme totalling US&#36;2.5 billion to be completed by the end of 2007, subject
to
market conditions. This amount replaces the approximately US&#36;0.5 billion
remaining under the 2005 programme.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A
total of US&#36;877 million was returned to shareholders during 2005 by way of an off market buy back of Rio Tinto Limited shares for
  US&#36;774 million and on market purchases of Rio Tinto plc shares for US&#36;103 million. By 31 May 2006 a further US&#36;2,332 million had been returned to shareholders by way of on market purchases of Rio Tinto plc shares for US&#36;832 million and the payment of the
special dividend of &#36;1.5 billion.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Critical
accounting policies and estimates</FONT></B><br><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dual
      listed company reporting</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As explained in detail in the Outline of dual listed companies&#146; structure and basis of financial statements on page A-10 of the 2005 Financial statements, the consolidated
financial statements of the Rio Tinto Group on pages A-2 to A-110 deal with the results and assets and liabilities of both of the dual listed companies, Rio Tinto plc and Rio Tinto Limited, and their subsidiaries. They are prepared in accordance
with International Financial Reporting Standards as adopted by </FONT></font></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</FONT></I></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">51</FONT></B></td>
  </tr>
</table>
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<P>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the European
  Union (&#147;EU IFRS&#148;). In accordance with the exemptions contained in IFRS 1 &#147;First-time adoption of International Financial Reporting Standards&#148;, the
accounting treatment of business combinations prior to 1 January 2004 has not been restated to comply with IFRS 3 &#147;Business Combinations&#148;.
As a result the DLC structure between Rio Tinto plc and Rio Tinto Limited has
been accounted for as a merger, rather than as an acquisition, in line with the
treatment adopted previously under UK GAAP. For this purpose, Rio Tinto plc and
Rio Tinto Limited are viewed as a single parent company with their respective
shareholders being the
shareholders in that single company.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
2005 Annual report and financial statements satisfy the obligations of Rio Tinto
Limited to prepare consolidated accounts under Australian company law, as amended
by an order issued by the Australian Securities and Investments Commission on
27 January 2006. The 2005 Financial statements include a statement setting out
the effect of the adjustments to consolidated EU IFRS profit, consolidated
total recognised income and consolidated shareholders&#146; funds for the Group that would be required under the version of IFRS that is applicable in Australia (&#147;Australian IFRS&#148;).</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
US dollar is the presentation currency used in these financial statements, as
it most reliably reflects the Group&#146;s global business
performance.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ore reserve estimates</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto estimates its ore reserves and mineral deposits based on information compiled by Competent Persons as defined in accordance with the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves of December 2004 (the JORC code). The amounts presented under EU and Australian IFRS are based on the reserves, and in some cases mineral deposits, determined under the JORC code.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
the purposes of the Group&#146;s financial information under US GAAP, ore reserves are computed in accordance with the SEC&#146;s
Industry Guide 7 and are shown on pages 19 to 29. Estimates of ore reserves and
mineral deposits in accordance with JORC are not shown in this combined annual
report on Form 20-F.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore reserves presented in accordance with SEC Industry Guide 7 do not exceed the quantities that, it is estimated, could be extracted economically if
future prices were to be in line with the average of historical prices for the three years to 30 June 2005, or contracted prices where applicable. For this purpose, contracted prices are applied only to future sales volumes for which the price is
predetermined by an existing contract; and the average of historical prices is applied to expected sales volumes in excess of such amounts. Moreover, reported ore reserve estimates have not been increased above the levels expected to be economic
based on Rio Tinto's own long term price assumptions. Therefore, a reduction in commodity prices from the three year average historical price levels would not necessarily give rise to a reduction in reported ore reserves.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">There are numerous uncertainties inherent in estimating ore reserves and assumptions that are valid at the time of estimation may change significantly
when new information becomes available.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Changes in the forecast prices of commodities, exchange rates, production costs or recovery rates may change the economic status of reserves and may,
ultimately, result in the reserves being restated. Such changes in reserves could impact on depreciation and amortisation rates, asset carrying values, deferred stripping calculations and provisions for close down, restoration and environmental
clean up costs.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Asset carrying values</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Events or changes
in circumstances can give rise to significant impairment charges or reversals
of impairment provisions in a particular year. In 2005, there were no significant
impairment charges or reversals. However in 2004, the Group incurred a US&#36;558 million impairment charge, (US&#36;321
million net of tax and outside shareholders interests).</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">When
such events or changes in circumstances impact on a particular asset or cash
generating unit, its carrying value is assessed by reference to its recoverable
amount being the higher of fair value less costs to sell and value in use (being
the net present value of expected future cash flows of the relevant cash generating
unit). The best evidence of an asset&#146;s fair value is its value
obtained from an active market or binding sale agreement. Where neither exists, fair value less costs to sell is based on the best information available to reflect the amount the Group could receive for the cash generating unit in an arm&#146;s
length transaction. In some cases this is estimated using a discounted cash flow analysis. The cash flows used in these analyses are particularly sensitive to changes in two parameters: exchange rates and commodity selling prices. The great majority
of the Group&#146;s sales are based on prices denominated in US dollars. To the
extent that the currencies of countries in which the Group produces commodities
strengthen against the US dollar without commodity price offset, cash flows and,
therefore, net present values are reduced. Management considers that over the
long term, there is a tendency for movements in commodity prices to compensate
to some extent for movements in the value of the US dollar (and vice versa).
But such
compensating changes are not synchronised and do not fully offset each other.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Recent favourable changes in commodity prices have exceeded adverse shifts in exchange rates. In the three years to 31 December 2005, the Australian
dollar strengthened by 23 per cent against the US dollar, the Canadian dollar strengthened by 26 per cent and the South African rand by 27 per cent. Taking these three years together, commodity prices rose substantially: for example, copper prices
increased by 134 per cent, aluminium by 40 per cent and gold by 44 per cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reviews
of carrying values normally relate to cash generating units which, in accordance
with IAS 36 &#147;Impairment of Assets&#148;, are identified by
dividing an entity into as many largely independent cash generating streams as
is reasonably practicable. In some cases the business units within the product
groups consist of several operations with independent cash generating streams,
which
therefore constitute separate cash generating units.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</FONT></I></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">52</FONT></B></td>
  </tr>
</table>
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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The cash flow forecasts are based on best estimates of expected future revenues and costs. These may include net cash flows expected to be realised from
extraction, processing and sale of mineralised material that does not currently qualify for inclusion in proven or probable ore reserves. Such non reserve material is included where there is a high degree of confidence in its economic extraction.
This expectation is usually based on preliminary drilling and sampling of areas of mineralisation that are contiguous with existing reserves. Typically, the additional evaluation to achieve reserve status for such material has not yet been done
because this would involve incurring costs earlier than is required for the efficient planning and operation of the mine.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The expected future cash flows of cash generating units reflect long term mine plans which are based on detailed research, analysis and iterative
modelling to optimise the level of return from investment, output and sequence of extraction. The plan takes account of all relevant characteristics of the orebody, including waste to ore ratios, ore grades, haul distances, chemical and
metallurgical properties of the ore impacting on process recoveries and capacities of processing equipment that can be used. The mine plan is therefore the basis for forecasting production output in each future year and production costs.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s cash flow forecasts are based on assessments of expected long term commodity prices, which for most commodities are derived from an
analysis of the marginal costs of the producers of these commodities. These assessments often differ from current price levels and are updated periodically.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In some cases, prices applying to some part of the future sales volumes of a cash generating unit are predetermined by existing sales contracts. The
effects of such contracts are taken into account in forecasting future cash flows.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cost levels incorporated in the cash flow forecasts are based on the current long term mine plan for the cash generating unit. For impairment reviews,
recent cost levels are considered, together with expected changes in costs that are compatible with the current condition of the business and which meet the requirements of IAS 36. IAS 36 includes a number of restrictions on the future cash flows
that can be recognised in respect of future restructurings and improvement related capital expenditure.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
US GAAP, assumptions used in cash flow forecasts are principally the same as
those used under EU IFRS, except that the estimated cash flows related to the
liability for asset retirement obligations are excluded under US GAAP (and the
related liabilities are excluded from the determination of the carrying value
of the asset group). Impairment is only recognised when the anticipated undiscounted
cash flows are insufficient to recover the carrying value of the asset group.
Once impairment is determined, an asset is written
down to its fair value, which is normally calculated using discounted cash flows,
similar to those under EU IFRS and the result is generally similar to that under
EU IFRS.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The useful lives of the major assets of a cash generating unit are usually dependent on the life of the orebody to which they relate. Thus the lives of
mining properties, smelters, concentrators and other long lived processing equipment generally relate to the expected life of the ore body. The life of the ore body, in turn, is estimated on the basis of the long term mine plan.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Forecast
cash flows are discounted to present values using Rio Tinto&#146;s weighted average
cost of capital with appropriate adjustment for the risks associated with the
relevant cash flows, to the extent that such risks are not reflected in the forecast
cash flows. For final feasibility studies and ore reserve estimation, internal
hurdle rates are used which are generally higher than the
weighted average cost of capital.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The above rates are applied to net of tax cash flows expressed in real terms and discounted at a post-tax discount rate. If an asset is impaired a
pre-tax discount rate is calculated from the post-tax rate taking into account the specific tax circumstances of the cash generating unit. This pre-tax rate is then used to discount the pre-tax cash flows. The resulting value is compared to the
assets of the cash generating unit to determine the impairment charge required.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Final feasibility studies, ore reserve estimation and value in use estimates are based on the exchange rates current at the time of the evaluation. In
estimates of fair value, a forecast of the long term exchange rate is made having regard to spot exchange rates, historical data and external forecasts.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Forecast
cash flows for ore reserve estimation for JORC purposes and for impairment testing
are based on Rio Tinto&#146;s long term price forecasts. For
final feasibility studies these prices, and projected costs, are assumed to decline
systematically in real terms.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
the majority of Rio Tinto&#146;s businesses, by both number and by value, the
recoverable amounts are substantially in excess of the carrying value in the
balance sheet. For a minority of the businesses the carrying value is close to
their recoverable amount, and these are reviewed for impairment where appropriate.
The effects of exchange rate and commodity price changes on the values of these
units relative to their book values are monitored closely.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All goodwill and intangible assets that are not yet ready for use or have an indefinite life are tested annually for impairment regardless of whether
there has been any change in events or circumstances.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Close down, restoration and clean up obligations</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Provision is made for environmental remediation costs when the related environmental disturbance occurs, based on the net present value of estimated future costs.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Close down and restoration costs are a normal consequence of mining, and the majority of close down and restoration expenditure is incurred at the end of
the life of the mine. The costs are estimated on the basis of a closure plan. The cost estimates are calculated annually during the life of the operation to reflect known developments, eg updated cost estimates and revisions to the estimated lives
of operations, and are subject to formal review at regular intervals. Although the ultimate cost to be incurred is uncertain, the Group&#146;s businesses estimate their respective costs </FONT></font></P>
<P>&nbsp;</P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</FONT></I></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">53</FONT></B></td>
  </tr>
</table>
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<P>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">based on feasibility and engineering studies using current restoration standards and techniques. Changes to closure provisions, other than those arising from the unwind of the
discount applied in establishing the net present value of the provision, are capitalised within property, plant and equipment and depreciated over the lives of the assets to which they relate.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clean up costs are costs resulting from environmental damage that was not a necessary consequence of mining, including remediation, compensation and
penalties. These costs are charged to the income statement. Provisions are recognised at or near the time the damage, remediation process and estimated remediation costs become known. Remediation procedures generally commence soon after this point
in time but may continue for many years depending on the nature of the disturbance and the remediation techniques.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As noted above, the ultimate cost of environmental disturbance is uncertain and cost estimates can vary in response to many factors including changes to
the relevant legal requirements, the emergence of new restoration techniques or experience at other mine sites. The expected timing of expenditure can also change, for example in response to changes in ore reserves or production rates. As a result
there could be significant adjustments to the provision for close down and restoration and environmental clean up, which would affect future financial results.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Post retirement benefits</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For EU IFRS reporting of defined benefit post-employment plans, the Group has adopted the option under IAS 19 to recognise the difference between the fair value of the plan assets (if
any) and the present value of the plan liabilities as an asset or liability on the balance sheet and to record actuarial gains and losses directly in the Statement of Recognised Income and Expense.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under US GAAP post retirement benefits are accounted for in accordance with Financial Accounting Standard Nos. 87 and 106 under which gains or losses
outside a ten per cent fluctuation corridor are spread.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The most significant assumptions used in accounting for post retirement plans are the long term rate of return on plan assets, the discount rate and the
mortality assumptions. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
long term rate of return on plan assets is used to calculate interest income
on pension assets, which is credited to the Group&#146;s income
statement. The discount rate is used to determine the net present value of future liabilities and each year the unwinding of the discount on those liabilities is charged to the Group&#146;s
income statement. The mortality assumption is used to project the future stream
of benefit payments, which is then discounted to arrive at a net present value
of liabilities.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Valuations are carried out using the projected unit method. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
expected rate of return on pension plan assets is determined as management&#146;s
best estimate of the long term return on the major asset classes, ie equity,
debt, real estate and other, weighted by the actual allocation of assets among
the categories at the measurement date. The expected rate of return is calculated
using geometric averaging.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
sources used to determine management&#146;s best estimate of long term returns are numerous and include country specific bond yields, which may be
derived from the market using local bond indices or by analysis of the local bond market, and country specific inflation and investment market expectations derived from market data and analysts&#146; or governments&#146; expectations
as
applicable.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
particular, the Group estimates long term expected real returns on equity, ie
returns in excess of inflation, based on the economic outlook,
analysts&#146; views and those of other market commentators. This is the most
subjective of the assumptions used and it is reviewed regularly to ensure that
it remains consistent with best practice.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For EU IFRS, the discount rate used in determining the service cost and interest cost charged to income is the market yield at the start of the year on
high quality corporate bonds. For countries where there is no deep market in such bonds the yield on Government bonds is used. For determining the present value of obligations shown on the balance sheet, market yields at the balance sheet date are
used.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The discount rate under US GAAP is the implied yield available on AA rated corporate debt at the measurement date.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The rates used for both 2004 and 2005 are set out in Note 49 to the 2005 Financial Statements for EU IFRS accounting and in Note 52 for US
GAAP.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For EU IFRS, the average expected long term rate of return on assets used to determine 2005 pension cost was 6.8 per cent . This will decrease to 6.3 per
cent in 2006. For US GAAP, the average expected long term rate of return on assets used to determine 2005 pension cost was 6.7 per cent and this will decrease to 6.2 per cent in 2006. In both cases, this is primarily because of a decrease in
expected long term nominal equity returns.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In calculating the 2005 EU IFRS expense the average future increase in compensation levels was assumed to be 4.7 per cent and the same rate will be used
for 2006. For US GAAP for 2005, the average future increase in compensation levels was assumed to be 4.6 per cent and this will remain at 4.6 per cent for 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
EU IFRS, the average discount rate used for the Group&#146;s plans in 2005 was 5.4 per cent and the average discount rate used in 2006 will be 5.0
per cent. The decrease is attributable to lower corporate bond yields. For US GAAP, the average discount rate used for the Group&#146;s
plans in 2005 was 5.7 per cent and the average discount rate used in 2006 will
be 5.2 per cent, the decrease is
again attributable to lower corporate bond yields.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
2005 the cost in relation to post retirement benefits net of tax and minorities
was US&#36;170 million under US GAAP. Under EU IFRS, the net cost was
US&#36;121 million. These costs include both pension and post retirement healthcare benefits. Within these costs, the expected return on assets net of tax and minorities was US&#36;209 million under US GAAP and US&#36;228
million under EU
IFRS.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Based on the known changes in assumptions noted above and other expected circumstances, the impact of post </FONT></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</FONT></I></td>
    <td width="3%" align="right"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">54</FONT></B></td>
  </tr>
</table>

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<P>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">retirement
  costs on the Group&#146;s EU IFRS net earnings in 2006 would be expected to increase by some US&#36;5 million to US&#36;126 million. The impact of post-retirement benefits
costs on the Group&#146;s US GAAP net earnings in 2006 would be expected to decrease by some US&#36;6 million to US&#36;164
million. In both cases, the actual charge may be impacted by other factors that
cannot be predicted, such as the effect of
changes in benefits and exchange rates.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
US GAAP, there are net unrecognised losses in relation to the Group&#146;s post-retirement benefit plans of US&#36;259 million at 31 December 2005
net of tax and minorities. This will be charged to earnings over the average remaining service life of employees in the plans to the extent that losses exceed the 10% corridor on a plan by plan basis. The 2006 impact on the Group&#146;s US GAAP net
earnings will be a cost of US&#36;19 million compared to a cost of US&#36;26
million in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
table below sets out the potential change in the Group&#146;s 2005 EU IFRS and US GAAP net earnings (after tax and outside interests) that would
result from hypothetical changes to post retirement assumptions and estimates. The sensitivities are viewed for each assumption in isolation although a change in one assumption is likely to result in some offset </FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">elsewhere.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">EU IFRS</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US GAAP</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT></TD>
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size=1></TD>
  <TD align=right><hr noshade size=1></TD>
  <TD align=left><hr noshade size=1></TD>
  <TD align=right><hr noshade size=1></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sensitivity of Group&#146;s 2005 net earnings to changes in:</FONT></TD>
	<TD align=right>	  <font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right>	  <font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Expected return on assets</FONT></TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; increase of 1 percentage point</FONT></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</FONT>
	</TD>
	<TD width=2% align=left><font size="2">&nbsp;</font>

	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23</FONT>
	</TD>
	<TD width=2% align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; decrease of 1 percentage point</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(25</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(23</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Discount rate</FONT></TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; increase of 0.5 percentage points</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(1</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</FONT>
	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; decrease of 0.5 percentage points</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT>
	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(13</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Salary increases</FONT></TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; increase of 0.5 percentage points</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(5</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(7</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; decrease of 0.5 percentage points</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT>
	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Demographic - allowance for additional future mortality improvements</FONT></TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right><font size="2">&nbsp;</font>

	</TD>
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150; overall increase of 5% in liability</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(13</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(24</FONT>
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
</TR>
<TR valign="bottom">
  <TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#150;
    overall decrease of 5% in liability</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</font></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23</font></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size=1>
  </TD>
  <TD align=right><hr noshade size=1>
  </TD>
  <TD align=left><hr noshade size=1>
  </TD>
  <TD align=right><hr noshade size=1>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="5" align=left> <b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</font></b></TD>
  </TR>
<TR valign="bottom">
  <TD colspan="5" align=left> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US
      GAAP sensitivities include the effect of the amortisation of unrecognised
      gains and losses, where applicable. Under EU IFRS the effect of changes
      in actuarial assumptions is taken
to equity.</font></TD>
  </TR>
</TABLE>

  <p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The figures in the above table only show the impact on net earnings. Changing the assumptions would also have an impact on the balance sheet.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
impact on cash flow in 2005 of the Group&#146;s pension plans, being the employer contributions to defined benefit and defined contribution pension
plans, was US&#36;173 million. In addition there were contributions of US&#36;26
million in respect of unfunded healthcare schemes.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
relation to pensions, it is currently expected that there will be no significant
regular employer or employee contributions to the UK plan in 2006. The next formal
valuation of the Rio Tinto Pension Fund is due with an effective date of 31 March
2006. The results of the valuation will be available later in the year, after
which contributions into the fund may be required. Contributions are made
to the main Australian plan according to the recommendation of the plan actuary
and are primarily to a mixed defined benefit/defined contribution type arrangement.
In North America, contributions are agreed annually in nominal terms. Whilst
contributions for 2006 are yet to be determined, contributions in the UK, Australia
and Africa are expected to be broadly in line with 2005 contributions. Contributions
for 2006 are expected to be around US&#36;20 million higher than in 2005 for
Canadian plans and around US&#36;40 million lower than in 2005 for US plans.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Further information under EU IFRS and US GAAP for pensions is given on pages A-82 to A-85 and A-101 to A-104, of the 2005 Financial statements,
respectively. </FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Overburden removal costs<br>
</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In open pit mining operations, it is necessary to remove overburden and other barren waste materials to access ore from which minerals can economically be extracted. The process of
  mining overburden and waste materials is referred to as stripping. During the development of a mine, before production commences, it is generally accepted that stripping costs are capitalised as part of the investment in construction of the
mine.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Stripping of waste materials continues during the production stage of the mine. Some mining companies expense these production stage stripping costs as
incurred, while others defer such stripping costs. Those mining companies that expense stripping costs as incurred will report greater volatility in the results of their operations from period to period.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto defers production stage stripping costs for those operations where this is the most appropriate basis for matching costs with the related
economic benefits and the effect is material.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The amount of stripping costs deferred is based on the ratio obtained by dividing the tonnage of waste mined either by the quantity of ore mined or by
the quantity of minerals contained in the ore. In some operations, the quantity of ore is used, being a more practical basis for matching costs with the related economic benefits where there are important by products or where the grade of the ore is
relatively stable from year to year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Information about the stripping ratios of the business units, including jointly controlled entities and associates, that account for the majority of the
deferred stripping balance at 31 December 2005, along with the year in which </FONT></font></P>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="right" valign="bottom">
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">55</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p56"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">deferred stripping is expected to be fully amortised, is set out in the following table:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD rowspan="2" align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD rowspan="2" align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD rowspan="2" align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Actual
    stripping<br>
    </font></TD>
	<TD rowspan="2" align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD rowspan="2" align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD rowspan="2" align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Life of mine<br>
      </FONT></TD>
    <TD rowspan="2" align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ratio
    for year</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">stripping
    ratio</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
  <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
  <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><hr size="1" noshade>

	</TD>
	<TD align=right><hr size="1" noshade></TD>
	<TD align="left"><hr size="1" noshade>
	</TD>
	<TD align=right><hr size="1" noshade></TD>
	<TD align="left"><hr size="1" noshade>
	</TD>
	<TD align=right><hr size="1" noshade></TD>
	<TD align="left"><hr size="1" noshade>
	</TD>
	<TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott Utah Copper (2018) (a) (b)</FONT></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.83</FONT></TD>
	<TD width=2% align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.02</FONT></TD>
	<TD width=2% align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.24</FONT></TD>
	<TD width=2% align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.51</FONT></TD>
    <TD width=2% align=left bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Argyle Diamonds (2009) (a)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.70</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.60</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.91</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.40</FONT></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grasberg Joint Venture (2015) (a)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.39</FONT></TD>
	<TD align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.12</FONT></TD>
	<TD align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.43</FONT></TD>
	<TD align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.43</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diavik (2008) (c)</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.474</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.209</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.938</FONT></TD>
	<TD align="left">&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.912</FONT></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida (2042) (d)</FONT></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.1145</FONT></TD>
	<TD align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.0915</FONT></TD>
	<TD align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.1129</FONT></TD>
	<TD align="left" bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.1188</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align="left"><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD colspan="2" align=left>
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B>	</TD>
  </TR>
<TR valign="bottom">
	<TD width=3% align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Strip ratios shown are waste to ore.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott&#146;s life of mine strip ratio increased on approval of the open pit push back.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diavik&#146;s strip ratio is disclosed as bench cubic metre per carat.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida&#146;s strip ratio is based on waste tonnes to pounds of copper mined.</FONT></TD>
</TR>
</TABLE>

  <p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Borax capitalised stripping costs as part of a distinct period of new development during the production stage of the mine. Capitalisation stopped in 2004. The capitalised costs will
be fully amortised in 2034.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
life of mine waste-to-ore ratio is a function of an individual mine&#146;s pit design and therefore changes to that design will generally result in
changes to the ratio. Changes in other technical or economic parameters that impact on reserves will also have an impact on the life of mine ratio even if they do not affect the mine&#146;s
pit design. Changes to the life of mine ratio are accounted
for prospectively.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In operations that experience material fluctuations in the ratio on a year to year basis over the life of the mine, deferral of stripping costs reduces
the volatility of the cost of stripping expensed in individual reporting periods, in relation to production of ore or contained minerals, as applicable. Stripping costs incurred in the period are deferred to the extent that the current period ratio
exceeds the life of mine ratio. Such deferred costs are then charged against reported profits to the extent that, in subsequent periods, the ratio falls short of the life of mine ratio. The life of mine ratio is based on the proven and probable
reserves of the operation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In some operations, there are distinct periods of new development during the production stage of the mine. These may, for example, relate to a discrete
section of the orebody. The new development will be characterised by a major departure from the life of mine stripping ratio. Stripping costs attributable to such new development are deferred and subsequently amortised on a unit of production
basis.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Deferred stripping costs form part of the total investment in the relevant cash generating unit, which is reviewed for impairment if events or changes in
circumstances indicate that the carrying value may not be recoverable.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During
2005, production stage stripping costs incurred by subsidiaries and equity accounted
operations exceeded the amounts charged against pre tax
profit by US&#36;93 million. The net book value carried forward in property, plant and equipment and in investments in jointly controlled entities and associates at 31 December 2005 was US&#36;845
million.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Amortisation
of deferred stripping costs is included in depreciation of property, plant and
equipment or in the Group&#146;s share of the results of its
equity accounted operations, as appropriate.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US deferred tax recoverable<br>
</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A
    potential tax asset of US&#36;567 million for United States Alternative Minimum Tax credits and US temporary differences for which recovery is dependent on the level of taxable
  profits in the US tax group, has not been recognised in the accounts. (An amount of US&#36;10 million has been recognised.) The determination that these potential assets should not be recognised at 31 December 2005 was based on projections of future
  taxable profits for the operations that form part of Rio Tinto&#146;s US tax
  group. It is possible that recoveries may occur depending on future commodity
  prices, costs, financing arrangements and business developments over the next
20 years or more. However, such recoveries are not considered probable.</FONT>

</font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Deferred tax on mining rights<br>
</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On
    transition to EU IFRS with effect from 1 January 2004, deferred tax was provided
    in respect of fair value adjustments on acquisitions in previous years. No
    other adjustments were made to the assets and liabilities recognised in such
    prior year acquisitions and, accordingly, shareholders&#146; funds were reduced by US&#36;720
    million on transition to EU IFRS primarily as a result of deferred tax on
    fair value adjustments to mining rights. In general, these mining rights
    are not eligible for income tax allowances. In such cases, the provision
    for deferred tax was based on the difference between their carrying value
    and their nil income tax base. The existence of a tax
  base for capital gains tax purposes was not taken into account in determining
    the deferred tax provision relating to such mineral rights because it is
    expected that the carrying amount will be recovered primarily through use
    and not from the disposal of the mineral rights. Also, the Group is only
    entitled to a deduction for capital gains tax purposes if the mineral rights
are sold or formally relinquished.</FONT>

</font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exploration<br>
</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
    accordance with IFRS 6 &#147;Exploration for and Evaluation of Mineral Resources&#148;,
    the Group has continued the policy on the recognition and measurement of
    exploration and evaluation expenditure that was previously applied under
UK </FONT>

</font></P>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="right" valign="bottom">
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F </font></i></td>
    <td width="3%"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">56</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p57"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">GAAP.
      The Group expenses exploration expenditure until acquisition of a beneficial
      interest or option in mineral rights from which point it is capitalised.
      Capitalised exploration expenditure is reviewed for impairment at each balance
      sheet date and full provision is made for impairment unless there is a high
      degree of confidence in the project&#146;s viability and hence it is probable
  that future economic benefits will flow to the Group.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The carrying values of exploration assets are reviewed twice per annum by management and the results of these reviews are reported to the </FONT><I><FONT
size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.
  There may be only mineralised material that has been subject to preliminary
  geological analysis to form a basis for the impairment review. The review is
  based on a status report regarding the Group&#146;s intentions for development
  of the undeveloped property. In some cases, the undeveloped properties are
  regarded as successors to orebodies currently in production and will therefore
  benefit from existing infrastructure and equipment. It is intended that these
  will be developed and go into production when the current source of ore is
  exhausted. Any impairment provisions raised
in previous years are reassessed if there is a change in circumstances which
  indicates that they may no longer be required, for example if it is decided
  to proceed with development.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Contingencies<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Disclosure
    is made of material contingent liabilities unless the possibility of any
    loss arising is considered remote. Contingencies are disclosed in Note 36
    to the 2005 Financial statements. These include tax assessments in Australia
    of approximately A&#36;500 million which, based on Counsels&#146; opinion,
the Group expects to be successful in challenging.</FONT>

</P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Underlying
earnings<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
    Group presents &#147;Underlying earnings&#148; as an additional measure of
    earnings to provide greater understanding of the underlying business performance
    of its operations. The adjustments made to net earnings to arrive at underlying
earnings are explained above in the section on underlying earnings.</FONT>

</P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Trend information<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
    demand for the Group&#146;s products is closely aligned with changes in global GDP. Changes in the GDP of developing countries will have a greater impact on materials such as iron
  ore and coal that can be used to improve infrastructure whereas changes in the GDP of developed countries will have a greater impact on industrial minerals that have many applications in consumer products. Copper is used in a wide range of
  applications from infrastructure to consumer electronics and demand for it has tended to grow in line with or slightly faster than global GDP. Trends in production of the Group&#146;s
  minerals and metals, consolidated turnover, earnings and total assets are set
out in the Operational review on pages 57 to 80.</FONT>

</P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Forward looking statements<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Forward looking statements are contained in this financial review and attention is drawn to the Cautionary statement on page 8.</FONT>

</P>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">OPERATING REVIEW</FONT></B></P>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      operating review comprises a separate review of each of the principal product
      and global support groups, other operations and a Group society and environment
  report.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IRON
ORE GROUP</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width="15%" align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Iron Ore</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width="12%" align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Iron Ore</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto
share)<br>
millions tonnes</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying<br>
Earnings
contribution*</FONT></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MINED</font></b></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</font></b></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><img src="b832238x58x1.jpg" width="98" height="170"></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left><img src="b832238x58x2.jpg" width="47" height="170"></TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>

<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="bottom">
    <td width="3%" align="left" valign="top"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</font></td>
    <td valign="top"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        amounts presented exclude net interest and other centrally reported items.
        A reconciliation with net earnings for 2004 and 2005 is set out in Note
        2 to the 2005 Financial statements. Product group earnings for 2004 and
        2005 are based on underlying earnings as determined under EU IFRS. </font></td>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="right" valign="bottom">
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F </font></i></td>
    <td width="3%"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">57</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p58"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto&#146;s Iron Ore group (RTIO) comprises operations and projects across
      four continents. In Western Australia, RTIO wholly owns Hamersley Iron.
      Hamersley wholly owns five mines and also operates the 60 per cent owned
      Channar mine
      and the 54 per cent owned Eastern Range mine on behalf of joint venture
      partners. The Channar mine is a joint venture with an Australian subsidiary
      of Sinosteel
      Corporation and the Eastern
Range mine is owned in joint venture with the Shanghai Baosteel Group Corporation. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTIO
also includes Rio Tinto&#146;s 53 per cent interest in Robe River Iron Associates&#146; two mines in Western Australia and Rio Tinto&#146;s 58.7 per
cent interest in Iron Ore Company of Canada. The Iron Ore group operates both enterprises, which were acquired in 2000. In 2005, RTIO assumed management of Rio Tinto Brasil which has a 100 per cent interest in Minera&ccedil;&atilde;o Corumbaense
Reunida, known as Corumb&aacute;. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
addition, RTIO includes the HIsmelt&reg; direct smelting technology developed
in Western Australia and interests in resources held globally, including the
Orissa, India, and Simandou, Guinea, projects. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Following
the agreement reached in 2003 with the joint venture partners in Robe River,
Pilbara Iron was formed to allow closer cooperation between Hamersley and Robe,
and enable RTIO&#146;s iron ore assets in the Pilbara to be run as an optimised and integrated operation. Coordination arrangements continued to be implemented during 2005, including the interconnection of Hamersley and
Robe&#146;s power systems. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTIO Expansion Projects was created in 2003 to manage the growing portfolio of projects and studies in the Pilbara. The Expansion Projects team operates
closely with Pilbara Iron, but is managed independently in order to minimise the impact on operations through project study and implementation phases. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
31 December 2005, the group accounted for 28 per cent of Rio Tinto&#146;s operating assets. In 2005, the group contributed approximately 27 per cent
of the Group&#146;s gross turnover and 35 per cent of underlying earnings. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For the contract year commencing April 2005 RTIO reached agreement with customers on price increases of 71.5 per cent for lump, fine and Yandi ore. For
the contract year commencing April 2006 RTIO reached agreement with customers on price increases for its products of 19 per cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTIO recruited strongly during 2005 to meet the workforce requirements of the expanding operations, with more than 1,000 new employees joining Pilbara
Iron and Expansion Projects. RTIO employs approximately 4,300 people in Western Australia and about 6,500 worldwide. Sam Walsh is chief executive, based in Perth, Western Australia.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance<br>
</FONT><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 compared with 2004<br>
</FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTIO&#146;s
      contribution to 2005 underlying earnings was US&#36;1,722 million, US&#36;1,157
million higher than in 2004.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Demand
      for iron ore continued to be extremely strong across the product range
      throughout 2005, driven by continued strong
        growth in global steel production and improvements in steel demand. Chinese
        iron ore imports rose 30 per cent year on year, and Hamersley, Robe,
      IOC and Corumb&aacute; all
  achieved record production in 2005. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The first phases of major expansions to the Pilbara infrastructure (Dampier port to 116 million tonnes per annum, Yandi mine to 36 million tonnes per
annum and West Angelas mine to 25 million tonnes per annum) were completed in 2005, and substantial progress made on the brownfields mine expansion projects announced in April 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
October 2005 RTIO announced the next phase of expansion, which is expected to
increase Dampier port capacity to 140 million tonnes per annum and Yandi mine
capacity to 52 million tonnes per annum. This US&#36;1.35 billion commitment takes to almost US&#36;3
billion the total committed over the last two years to increase the capacity
of the Hamersley and Robe port, rail, power and mine assets. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
July 2005, RTIO reached agreement to form a 50:50 joint venture with Hancock
Prospecting for the development of the Hope Downs project. The purchase was subject
to various regulatory approvals, which were granted during April 2006, and the
acquisition process is proceeding. Hope Downs contains significant iron deposits
of similar quality to West Angelas. Development of the deposits will further
strengthen RTIO&#146;s position as the prime supplier of iron ore in Australia.
Under the joint venture, RTIO will manage the development and ongoing operation
of the assets, and the project will use Pilbara Iron managed port, rail and power
infrastructure. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
commercial HIsmelt&reg; plant built at Kwinana in Western Australia entered its
commissioning phase in April 2005, with the first quantities of hot metal produced
in mid-June 2005.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Hamersley
Iron</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"> (Rio
Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley
Iron operates seven mines in Western Australia, including two mines in joint
venture, 630 kilometres of dedicated railway, and port and infrastructure facilities
located at  Dampier. These assets are run as a single operation managed and maintained
by Pilbara Iron.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The port expansion to 116 million tonnes has been
progressively commissioned since mid-2005, and 5.7 million tonnes of ore had
passed across the new wharf by year end. Commissioning of the Yandicoogina expansion
to 36 million tonnes per annum was completed ahead of schedule in October. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During
the year, work continued on expanding or augmenting rail, power and other infrastructure
to complement the expanded port and mine capabilities.
Hamersley and Robe&#146;s power systems were interconnected, and generation capacity
at Paraburdoo was expanded and converted to gas.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="right" valign="bottom">
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">58</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p59"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 2005, Hamersley completed option analysis studies to further increase its system capacity to ensure its continued ability to meet the needs of
customers and the strong growth in demand for iron ore, particularly in China. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
April RTIO committed US&#36;290 million to further expand Mount Tom Price, Marandoo
and Nammuldi. During 2006 these projects are expected to begin to  add 15 million
tonnes per annum additional capacity for at least three years.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
    October 2005, Rio Tinto approved a further US&#36;1.35 billion to expand
    Dampier
port and the Yandicoogina mine.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
port expansion is expected to increase Dampier&#146;s export capacity from 116
million tonnes per annum to 140 million tonnes per annum through the replacement
of existing circuits. The Yandicoogina mine expansion is expected to increase
its output from 36 million tonnes per annum to 52 million tonnes per annum. Both
are expected to be completed at the end of 2007 with progressive ramp up in
2008.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Work also continued on pre-development studies for new mines.</FONT></P>

  <p><font size="2"><B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley
      Iron&#146;s total production in 2005 was 89.6 million tonnes, 11.5 million
      tonnes more than in 2004, notwithstanding the volume of expansion work underway
      across the  business. Rio Tinto&#146;s share of this production was 86.1
  million tonnes.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shipments
      by Hamersley totalled 90.1 million tonnes, including sales through joint
      ventures. Hamersley&#146;s shipments to China also reached
        a new record level at 49.5  million tonnes, securing China&#146;s place
        as the single largest destination
    for Hamersley iron ore. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production from all mines was stretched to achieve these levels, placing cost and other operating stresses on the Hamersley system, although less so than
in 2004. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley continued to work sustainable development principles into its daily operations throughout the year. Full accreditation was achieved for all
Pilbara Iron sites under ISO 14001. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hamersley&#146;s
  lost time injury frequency rate remained the same as 2004 at 0.60.</FONT></font></p>
  <TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font>

	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Million tonnes</FONT></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Hamersley&#146;s total sales of iron ore to major markets in 2005</FONT></B></TD>
	<TD align=right>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">China</FONT></TD>
	<TD width="10%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49.5</FONT></TD>
    <TD width=2% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Japan</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.5</FONT></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other Asia</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.1</FONT></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Europe</FONT></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.0</FONT></TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total</FONT></B></TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">90.1</FONT></B>
	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</FONT></B></TD>
	<TD align=right>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This table includes 100 per cent of all sales through joint ventures.</FONT></TD>
	<TD align=right>&nbsp;
	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Robe River Iron Associates </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 53 per cent)<br>
Robe
    River Iron Associates (Robe) is an unincorporated joint venture in which
    Mitsui (33 per cent), Nippon Steel (10.5 per cent) and Sumitomo Metal Industries
    (3.5 per cent) also have interests. Robe is the world&#146;s fourth largest
    seaborne trader in iron ore, employing approximately 1,000 people, with many
employees transferred to Pilbara Iron.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robe operates two open pit mining operations
in Western Australia. Mesa J is located in the Robe Valley, north of the town
of Pannawonica. The mine produces Robe River fines and lump, which are pisolitic
iron ore products. The West Angelas mine, opened in 2002, is located approximately
100 kilometres west of the town of Newman. The mine produces West Angelas fines
and lump, which are Marra
Mamba iron ore products. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Further
expansion of the West Angelas mine was completed ahead of schedule in October
2005, taking the mine&#146;s production capacity to 25 million
tonnes per annum. This US&#36;105 million project increased Robe&#146;s production
capacity to a nominal 57 million tonnes per year. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robe
uses a dedicated rail system, operated by Pilbara Iron, to transport ore from
its mines to the company&#146;s deepwater port facilities at Cape
Lambert. The US&#36;200 million rail expansion project to duplicate almost 100
kilometres of track and associated interconnection and infrastructure to increase
the capacity of the Pilbara Iron main line is progressing well, with the southern
section completed in 2005 and the northern section on schedule for completion
in mid-2006. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robe primarily exports under medium and long term supply contracts with major integrated steel mill customers in Japan, Europe, South Korea and
China.</FONT></font></P>
<font size="2"><B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance<br>
</FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robe&#146;s
total production in 2005 was 52.4 million tonnes, comprising 31.0 million tonnes
from Mesa J, and 21.4 million tonnes from West Angelas. Sales were 31.1 million
tonnes of
Mesa J and 21.5 million tonnes of West Angelas products.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sales
growth was based on increased production from West Angelas and focused primarily
on China, where Robe achieved record total sales of 17.5 million tonnes. Overall,
Japan remains Robe&#146;s largest market with total shipments in 2005 of more
than 26 million tonnes. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Improved understanding of the orebody at West Angelas resulted in a change in mining strategy, using in-pit stockpiles to reduce grade variation. </FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"></FONT>
<p>&nbsp;</p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="right" valign="bottom">
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">59</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p60"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Safety performance improved, with Robe recording a lost time frequency rate of 0.46 compared with 1.03 in 2004, helping to reduce Pilbara Iron&#146;s
rate of 0.51 from 0.71 in 2004.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Million
      tonnes</FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">
    <hr size="1" noshade></TD>
    <TD align=left valign="bottom"><hr size="1" noshade></TD>
    <TD align=left valign="bottom"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>Robe&#146;s total sales of iron ore to major markets in 2005</B></font></TD>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Japan</FONT></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26.1</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">China</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17.5</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Europe</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.3</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other
      Asia</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.7</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom">
      <hr size="1" noshade>
    </TD>
    <TD align=left valign="bottom"><hr size="1" noshade>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52.6</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Iron Ore Company of Canada </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 58.7 per cent)<br>
Rio
  Tinto&#146;s interest in Iron Ore Company of Canada (IOC) is 58.7 per cent. Mitsubishi (26.2 per cent) and the Labrador Iron Ore Royalty Income Fund (15.1 per cent) are also
  shareholders in IOC, Canada&#146;s largest iron ore pellet producer. IOC operates
  an open pit mine, concentrator and pellet plant at Labrador City, Newfoundland
  and Labrador, together with a 420 kilometre railway to port facilities and
  the partially refurbished pellet plant at Sept-Iles, Quebec. IOC has large
  quantities
  of ore reserves with low levels of contaminants.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Products
are transported on IOC&#146;s railway to Sept-&Icirc;les. The port is open all
year, handles ore carriers of up to 255,000 tonnes, and provides competitive
access to all seaborne pellet markets and to the North American Great Lakes region.
IOC exports its concentrate and pellet products to major North American, European
and Asian steel makers.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">IOC employs approximately 1,750 people.</FONT></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Strong demand for IOC products in 2005 resulted in record pellet sales of 12.9 million tonnes and concentrate sales of 2.1 million tonnes. IOC produced 13.3 million tonnes of pellets,
  beating the previous record by more than ten per cent, and produced 2.3 million tonnes of concentrate for sale. The new labour agreement signed in late 2004 has delivered significant productivity increases. IOC continues to reduce unit costs and
  achieve incremental production improvement through its ongoing Renewal business improvement programme, which commenced in 2002. IOC is currently evaluating options to increase both pellet and concentrate production.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">IOC received accreditation under ISO 14001 in 2005.</FONT></P>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Million
      tonnes</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">IOC&#146;s
      total sales of iron ore to major markets in 2005</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Europe</FONT></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.8</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">North
      America</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.8</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Asia
      Pacific</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.4</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.0</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Minera&ccedil;&atilde;o Corumbaense Reunida (Corumb&aacute;) </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
Corumb&aacute; produced 1.4 million tonnes of lump iron ore in 2005, and sold 1.3 million tonnes which was barged along the Paraguay River to South American and European customers.
During the year, the mine and plant were expanded to two million tonnes per annum capacity, and a new barge convoy was added to the fleet. The feasibility of expanding production at the mine in stages to 15 million tonnes per annum is under study.
Logistic options are being considered for expanded export sales, including supplies to a proposed steel making project at Corumb&aacute;. Corumb&aacute; has
over 200 million tonnes of reserves. There are approximately 450 employees.</FONT></p>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">HIsmelt&reg; </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 60 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
HIsmelt&reg; iron making project at Kwinana in Western Australia is a joint venture between Rio Tinto (60 per cent interest through its subsidiary, HIsmelt&reg; Corporation), US
steelmaker Nucor Corporation (25 per cent), Mitsubishi Corporation (ten per cent), and Chinese steelmaker Shougang Corporation (five per cent). The project has received approval for Australian federal government support of A&#36;125
million.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
HIsmelt&reg; process is a direct iron smelting technology developed largely by
Rio Tinto that converts iron ore fines into high quality pig iron (96 per cent
iron content) without the use of coke ovens and sinter plants. Notably, the technology
allows efficient processing of ore fines with higher levels of impurities. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A
pilot plant to demonstrate the technology has been expanded to commercial scale
at a cost of US&#36;200 million. During 2005 the plant moved into
operating phase and will now ramp up production. It is expected to reach its
full production rate of 800,000 tonnes per year over the next three years. The
iron produced will be sold as pig iron once sufficient stocks have been built
up. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Hot
commissioning began in April 2005, with the first quantities of hot metal produced
in mid June 2005. Production of the first 1,000 tonnes triggered the release
of A&#36;50 million in federal government assistance for joint user infrastructure at the Kwinana site, in November 2005. Up to 31 March 2006 the plant has produced more than 13,000 tonnes of hot metal. HIsmelt&reg; has
approximately 100
employees. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">HIsmelt&reg; has signed two process licence agreements with Chinese steelmakers to allow for the development of ironmaking facilities using HIsmelt&reg; technology,
using the facility at Kwinana as a template.</FONT></font></p>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">60</font></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

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<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Iron ore group projects</FONT></B><br><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Hope Downs</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> (Rio Tinto: 50 per cent)<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreement was reached in July 2005 to purchase a 50 per cent interest in the Hope Downs project which will be developed by Rio Tinto under an unincorporated joint venture with Hancock
    Prospecting Pty. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Following
Western Australian Government approval and ratification of the Hope Downs Joint
Venture in April 2006 it was announced that an immediate start would be made
on the construction of the US&#36;1.0 billion project. Stage one, at an estimated cost of US&#36;590
million is expected to have an annual capacity of 22 million tonnes, with first
production expected in early 2008. On completion of Stage two the annual capacity
of the mine is expected to be 30 million tonnes.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
addition Rio Tinto would commit US&#36;390 million to the capital cost of the
rail, rolling stock and power infrastructure required for this
development.</FONT></P>
<P><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Orissa,
            India </font></i></b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio
  Tinto: 51 per cent)<br>
            </font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Orissa is one of the key iron ore regions of the world. RTIO has a 51 per cent interest in Rio Tinto Orissa Mining, a joint venture with the state owned Orissa Mining Company. The
    joint venture holds rights to iron ore leases in Orissa, which it is seeking to develop. Rio Tinto is keen to participate in the development of the Indian iron ore sector through its joint venture, and has appointed a project director to expedite
    the development of operations in India.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">With
economic growth in India forecast to continue strongly, supporting a growing
domestic steel industry, discussions have continued with major domestic  steel
companies.</FONT></P>
<P><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Simandou </font></i></b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio
    Tinto: 100 per cent)</font><br>
    <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Simandou deposit in Guinea, west Africa, is a greenfields discovery with potential to host significant resources of high grade iron ore. Simandou moved from Rio Tinto Exploration
  to full project status as part of RTIO in October 2004. A prefeasibility study, scheduled for completion at the end of 2006, will assess mining and transport options necessary to bring Simandou into production as quickly as possible.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD colspan="4" align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ENERGY
      GROUP</FONT></B></TD>
  </TR>
  <TR>
    <TD width="15%" align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Coal</FONT></B></TD>
    <TD width=2% align=left valign="bottom">&nbsp;</TD>
    <TD width=15% align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Energy</FONT></B></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio
      Tinto share)</FONT></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying</FONT></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">millions
      tonnes</FONT></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      contribution*</FONT></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MINED</FONT></B></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT></B></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><img src="b832238x62x1.jpg" width="97" height="177"></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom"><img src="b832238x62x2.jpg" width="47" height="177"></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="4" align=left valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign="top">
    <td width="3%"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</font></td>
    <td> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> The
      amounts presented exclude net interest and other centrally reported items.
      A reconciliation with net earnings for 2004 and 2005 is set out in Note
      2 to the 2005 Financial statements. Product group earnings for 2004 and
      2005 are based on underlying earnings as determined under EU IFRS.</font></td>
  </tr>
</table>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Rio Tinto Energy Group comprises uranium, thermal coal and coking coal operations. Rio Tinto Energy group&#146;s coal interests are in Australia and the US. They supply
internationally traded and domestic US and Australian markets. The portfolio also includes R&ouml;ssing Uranium in Namibia and Energy Resources of Australia which supply uranium oxide for electricity generation.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In December 2005 Energy Resources of Australia Ltd (ERA) and R&ouml;ssing Uranium approved the appointment of Rio Tinto Uranium to undertake marketing
and sales services and sales contract administration for them. Rio Tinto Uranium will undertake a centralised marketing role for Rio Tinto&#146;s two uranium producers through a network of representatives in key markets. This will give a single
point of contact for customers and greater efficiencies for ERA and R&ouml;ssing. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Energy group is a leading advocate of, and investor in, the sustainable development aspects of the future uses of coal and uranium. In 2005 the
Energy group dedicated resources and investment funds to the FutureGen project in the US, the COAL21 project in Australia and the International Energy Agency Clean Coal Centre.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">61</font></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At 31 December 2005, the Energy group accounted for 14 per cent of Group operating assets and, in 2005, contributed 19 per cent of Rio Tinto&#146;s gross
turnover and 15 per cent of underlying earnings.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston Chiaro, chief executive Energy, is based in London.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance </FONT></B><br>
<b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005
          compared with 2004</font></i></b><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Energy group&#146;s 2005 contribution to underlying earnings was US&#36;733 million, US&#36;302 million higher than in 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Results benefited from a significant increase in the price received for both thermal and coking coal during 2005. Third party infrastructure issues
continued to impede production growth in all of the coal operations. Operations focused on shifting emphasis to high margin products and facilitating the further expansion of the Hail Creek mine into a strong market for coking coal. The inability to
reap the required economies of scale and the rise in fuel prices and explosives resulted in a rise in the unit cost of production across the group.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Spot prices for uranium oxide strengthened considerably during the period increasing from US&#36;20.43 at the beginning of the year to close at
US&#36;36.00 in December 2005. The significant rise in the spot price of uranium oxide during the period is not fully reflected in the current earnings. Uranium oxide is typically sold on long term contracts with pricing determined several years
out. The impact of the 2005 pricing levels is expected to flow through to earnings in future years.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Energy America </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto Energy America (RTEA) (formerly Kennecott Energy) wholly owns and operates
four open cut coal mines in the Powder River Basin of Montana and Wyoming, US
and has a 50 per cent interest in, but does not operate, the Decker mine in Montana.
RTEA also manages the group&#146;s interest in Colowyo Coal in Colorado, US.
In total it employs approximately 2,000 people.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">One of the largest US producers, RTEA sells its ultra low sulphur coal to electricity generators predominantly in mid western and southern states. Sales
are made under multiple year contracts and on a spot basis for one year or less.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
domestic US market for low sulphur coal continues to grow due to its competitive
cost per delivered energy unit and restrictions on sulphur emissions by utilities.
For example, the price of sulphur emission allowances (a reward for higher specification
coal) increased during the period from US&#36;800 to US&#36;1,700 per tonne of
emissions. Continued strong demand for low cost and low sulphur western coal
is expected to increase with the announcement of numerous new coal fired generation
projects and increased utilisation of existing coal generation capacity in the
US.</FONT></font></p>
<P><font size="2"><b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005
            operating performance</font></i></b><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTEA&#146;s attributable production of 116 million tonnes of coal was two per cent lower than in 2004 primarily as a result of third party rail line disruptions. During 2005
  production records were set at the premium coal producing Spring Creek and Antelope mines. Underlying earnings of US&#36;135 million were 25 per cent lower than 2004 earnings of US&#36;180
  million. This decrease was due to lower overall production, a higher effective
  tax rate, and increased operational costs, particularly the cost of diesel fuel
  and explosives.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Spot
  prices increased substantially during the period. The spot price for 8800 BTU
  (0.80 sulphur) increased from US&#36;6.00 per ton to US&#36;22.50 per
  ton for delivery in the first quarter of 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Safety
  performance improved again in 2005 compared to 2004, with the Spring Creek mine
  continuing to set new safety records. RTEA&#146;s lost time injury
  frequency rate declined from 0.69 to 0.42 in 2005.</FONT></font></p>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Coal Australia </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto Coal Australia (RTCA), formerly Pacific Coal, manages the Group&#146;s
Australian coal interests. These include in Queensland the Blair Athol (Rio Tinto:
71 per cent), Kestrel (Rio Tinto: 80 per cent), Tarong (Rio Tinto: 100 per cent)
and Hail Creek (Rio Tinto: 82 per cent) coal mines and the Clermont deposit (Rio
Tinto: 50 per cent).</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTCA
also provides management services to Coal &amp; Allied Industries (Coal &amp; Allied) for operation of its four mines located within the Hunter
Valley in New South Wales. Coal &amp; Allied (Rio Tinto: 75.7 per cent) is publicly listed on the Australian Stock Exchange and had a market capitalisation of A&#36;4.46 billion (US&#36;3.27 billion) at 31 December 2005. Coal &amp; Allied wholly
owns Hunter Valley Operations, has an 80 per cent interest in Mount Thorley Operations and a 55.6 per cent interest in the contiguous Warkworth mine, and a 40 per cent interest in the Bengalla mine which abuts its wholly owned Mount Pleasant
development project. Coal &amp; Allied also has a 37 per cent interest in Port
Waratah Coal Services coal loading terminal.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">About 60 per cent of Blair Athol thermal coal is sold to its two Japanese joint venture partners under contracts extending to 2008 and 2010. The rest is
sold by long term and annual agreements to European and southeast Asian customers.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production from the Tarong mine is sold exclusively to Tarong Energy Corporation, an adjacent state owned power utility. A ten year contract for up to
7.5 million tonnes annually expires at the end of 2010.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kestrel, the only underground mine in the portfolio, sells mainly metallurgical coal to customers in Japan, south east Asia, Europe and Central America
generally on annual agreements.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Following the first commercial shipments in October 2003, the Hail Creek coking coal mine increased its production from 5.1 million tonnes in 2004 to 5.9
million tonnes during 2005.</FONT></font></p>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">62</font></b></td>
  </tr>
</table>


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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coal &amp; Allied produces thermal and semi soft coal. Most of its thermal coal is sold under contracts to electrical or industrial customers in Japan,
Korea and elsewhere in Asia. The balance is sold in Europe and Australia. Coal &amp; Allied&#146;s semi soft coal is exported to steel producing customers in Asia and Europe under a combination of long term contracts and spot business.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RTCA
and Coal &amp; Allied collectively employ approximately 2,200 people.</FONT></P>
<p><font size="2"><b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005
          operating performance</font></i></b><br>
  <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RTCA
and Coal &amp; Allied combined underlying earnings of US&#36;572 million in 2005
were 142 per cent higher than in 2004 due to increased production from Hail Creek
and improved
prices.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
all operations other than Tarong and Kestrel sales were constrained by insufficient
infrastructure to meet producer demand. Blair Athol and Hail Creek shipments
were both affected by infrastructure constraints at the Dalrymple Bay Coal Terminal
(DBCT) whereas Coal &amp; Allied mines were similarly affected at Port Waratah.
The Port Waratah Coal Services Port Allocation System was introduced in April
2004 to limit ship queues and reduce demurrage. Its successor, the Capacity Balancing
System, which will continue at least through 2007, enables producers to swap
and trade surplus capacity. In April 2005 the Australian Competition and
Consumer Commission granted authorisation for a similar queue management system
at DBCT. The queue system allocates the scarce capacity at the port and associated
rail system until 2008 when new capacity is expected to become available.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
decreased at Blair Athol from 12.2 million tonnes to 10.6 million tonnes primarily
as a result of shifting limited port capacity to Hail Creek
product. Kestrel&#146;s production increased 13 per cent to 3.7 million tonnes
in 2005 including 2.9 million tonnes of coking coal. At Tarong, production decreased
by eight per cent to 6.5 million tonnes in line with decreased demand from Tarong
Energy Corporation. Hail Creek production was 5.9 million tonnes of which 5.2
million tonnes were shipped.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At Hunter Valley Operations production decreased from 13.3 million tonnes to 12.4 million tonnes while sales were 12.8 million tonnes. The integrated
Mount Thorley Warkworth operations held production at 10.3 million tonnes while sales were 10.9 million tonnes. At Bengalla, production increased from 5.3 million tonnes to 6.0 million tonnes while sales were 5.4 million tonnes.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Safety performance and awareness continues to be a major focus of all operations managed by RTCA. The overall lost time injury frequency rate declined
from 1.29 in 2004 to 0.52 in 2005.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">R&ouml;ssing Uranium </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 68.6 per cent)<br>
R&ouml;ssing produces and exports uranium oxide from Namibia to European, US and Asia Pacific electricity producers. In December 2005, approval was granted to extend the life of the
operation until at least 2016 and restore annual production capacity to 4,000 tonnes per annum at a total incremental and sustaining capital cost of US&#36;112 million. R&ouml;ssing
employs approximately 800 people.</FONT></font></p>
<P><font size="2"><b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005
            operating performance</font></i></b><br>
  <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
  2005 production increased by four per cent to 3,700 tonnes of uranium oxide as
  a result of higher plant availability and improved market conditions. Higher
  realised prices were somewhat offset by the further strengthening of the Namibian
  dollar against the US dollar resulting in a US&#36;2 million underlying earnings
  contribution in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
  2005, R&ouml;ssing regrettably suffered a fatality at the operation. R&ouml;ssing
  continues to put a significant effort and management focus on safety. The focus
  is to eliminate all injuries from the workplace and to have an embedded safety
  culture and systems that identify and rectify potential safety incidents. The
  lost time injury frequency rate for 2005 rose to 0.48 from 0.08 in
  2004.</FONT></font></p>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Energy Resources of Australia </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 68.4 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Energy
Resources of Australia Ltd (ERA) is publicly listed and had a market capitalisation
of A&#36;1.88 billion (US&#36;1.38 billion) at 31 December 2005. ERA employs
approximately 300 people with 13 per cent of the operational workforce represented
by Aboriginal people.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">ERA produces uranium oxide at the Ranger open pit mine, 260 kilometres east of Darwin in the Northern Territory. ERA also has title to the nearby
Jabiluka mineral lease, which in 2003 was put on long term care and maintenance.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ranger
has a 5,500 tonnes per year nameplate capacity and started production in 1981.
ERA&#146;s operations including Jabiluka are surrounded by, but
remain separate from, the World Heritage listed Kakadu National Park and especially
stringent environmental requirements and governmental oversight apply.</FONT></font></p>

<p><font size="2"><b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005
          operating performance</font></i></b><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Uranium
oxide production of 5,900 tonnes was above the 5,100 tonnes produced the previous
year. Sales tonnes were 5,688, a 1.5 per cent increase on 2004 sales and a new
record for the company. Stronger prices were partially offset by higher fuel
prices and consumables resulting in underlying earnings of US&#36;24 million, an increase of US&#36;5
million from 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Safety performance improved considerably with a reduction in lost time injury frequency rate from 3.37 in 2004 to 0.91 in 2005.</FONT></font></p>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">63</font></b></td>
  </tr>
</table>

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<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD colspan=6 align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INDUSTRIAL
      MINERALS GROUP</FONT></B></TD>
  </TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="15%" align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Borates</FONT></B></TD>
    <TD width=2% align=left>&nbsp;</TD>
    <TD width=15% align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Titanium
      dioxide</FONT></B></TD>
    <TD width=2% align=left>&nbsp;</TD>
    <TD width=15% align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Industrial
      Minerals</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio
      Tinto share)</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio
      Tinto share)</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying</FONT></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000
      tonnes B</FONT><SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2
      </FONT></SUB><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">O</FONT><SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></SUB>&nbsp;
    </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000
      tonnes</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings
      contribution*</FONT></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PRODUCTION</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PRODUCTION</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"><img src="b832238x65x1.jpg" width="97" height="181"></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom"><img src="b832238x65x2.jpg" width="89" height="181"></TD>
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=left valign="bottom"><img src="b832238x65x3.jpg" width="47" height="181">&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="6" align=left valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign="top">
    <td width="3%"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</font></td>
    <td> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> The
      amounts presented exclude net interest and other centrally reported items.
      A reconciliation with net earnings for 2004 and 2005 is set out in Note
      2 to the 2005 Financial statements. Product group earnings for 2004 and
      2005 are based on underlying earnings as determined under EU IFRS.</font></td>
  </tr>
</table>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s Industrial Minerals group produces borates, talc, industrial salt, and titanium dioxide feedstock. It is a global leader in the supply and science of these products.
Beginning in 2006, Rio Tinto Borax, Luzenac Talc and Dampier Salt are combining their management and systems to form a new organisation, Rio Tinto Minerals. Together with Rio Tinto Iron &amp; Titanium, the two will form the Industrial Minerals
product group effective in 2007. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At 31 December 2005, Industrial Minerals accounted for 14 per cent of the Group&#146;s operating assets and contributed approximately 12 per cent of Rio
Tinto&#146;s gross turnover and four per cent of underlying earnings in 2005. Approximately 7,000 people were employed in 2005.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew Mackenzie, chief executive Industrial Minerals, is based in London.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance </FONT></B><br>
<b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005
          compared with 2004</font></i></b><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Industrial Minerals&#146; contribution to 2005 underlying earnings was US&#36;187 million, 23 per cent lower than in 2004, reflecting significant one-off costs of US&#36;42 million
after tax, including provision for Minerals restructuring in relation to the formation of Rio Tinto Minerals. There were also increased energy and distribution costs at all business units. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dampier Salt and Rio Tinto Iron &amp; Titanium incurred high initial operating costs for commissioning of a new plant and the upgraded titanium slag
(UGS) expansion respectively. Rio Tinto Iron and Titanium also incurred a tax expense of US&#36;13 million resulting from a change in the tax rate for QIT-Fer et Titane in Quebec. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Borax&#146;s earnings were 48 per cent lower at US&#36;48 million. The borates business was impacted by lower sales volumes and increasing
energy and distribution costs. Rio Tinto Borax also incurred a one-off restructuring cost of US&#36;12 million after tax in relation to the formation of Rio Tinto Minerals.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Iron &amp; Titanium earnings at US&#36;128 million were ten per cent higher than in 2004. Strong price performance across all products,
combined with increased volumes and strict cost performance at Richards Bay Minerals led to this strong performance.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Minerals</FONT></B><br>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Borax </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto Borax&#146;s Boron mine in California&#146;s Mojave Desert is the world&#146;s
largest borate mine by volume. Borates are used in the US for vitreous applications,
such as fibreglass, glass wool, high temperature glasses and enamels. The perborate
industry, a major market in Europe, uses borates as bleach in detergents. Other
uses include ceramics, fertilisers, flame retardants, wood preservatives and
corrosion
inhibitors.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto Borax&#146;s US and UK research laboratories provide technical support
and participate in collaborative projects with customers.</FONT></font></P>
<P><font size="2"><b><i><font face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005
  operating performance<br>
</font></i></b></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
  volumes were steady at 560,000 tonnes. Sales volumes were three per cent lower
  than 2004, in both North America and Europe as a result of increased competition
  and economic slowing. However, the borate markets continue to benefit from
  a robust North American housing market, a strong thin film transistor (TFT)
  liquid crystal display (LCD) market in Asia and the continued penetration of
  borates used for wood
preservation. Hurricanes Katrina and Rita further weakened North American sales
  performance during the second half as customer&#146;s product supply chains
  were disrupted. In some cases production lines were dedicated entirely to non-borate
  containing building materials in order to maximize throughput and provide assistance
  during the relief efforts.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">64</font></b></td>
  </tr>
</table>

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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An approximate 30,000 tonne expansion of the boric acid plant at Boron (about ten per cent of current capacity) was completed in May 2005 on time and
under budget, delivering planned throughput. A further 56,000 tonnes increase is under construction. This project is on plan and on budget with a planned start up date of the end of the second quarter of 2006.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Luzenac Group </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><font size="2"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Luzenac Group operates talc mines, including the world&#146;s largest, in south
west France, and processing facilities in Australia, Austria, Belgium, Canada,
France, Italy, Japan, Mexico, Spain, the UK and the US. Rio Tinto acquired the
last remaining Luzenac shareholding during 2005, taking its ownership from 99.9
per cent to 100 per cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Luzenac products are used internationally. Principal uses are in paper, paints, cosmetics, ceramics, agricultural and plastics industries.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Luzenac made a US&#36;3 million loss in 2005 as a result of a US&#36;18 million provision taken in relation to restructuring costs on the formation of Rio Tinto Minerals.
Luzenac&#146;s production in 2005 was two per cent lower than 2004 at 1.41 million tonnes.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><font size="2"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Likewise sales volumes were slightly lower than 2004, while prices showed a slight improvement.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dampier Salt </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 64.9 per cent)<br>
</FONT></font><font size="2"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dampier
Salt is the world&#146;s largest salt exporter. It produces industrial salt by
solar evaporation at Dampier, Port Hedland and Lake MacLeod, where it also mines
gypsum, in
Western Australia.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
chemical industry in Asia is the principal customer for Dampier&#146;s salt while gypsum&#146;s
main use is in wallboard and cement
manufacture.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dampier Salt&#146;s earnings in 2005 were US&#36;14 million, slightly above 2004 earnings of US&#36;13 million. While trading conditions were improved through higher volumes, earnings
were impacted by difficulties during the commissioning of a new process plant at Dampier and escalating costs in north western Australia. Salt production was 15 per cent higher than in 2004, at 8.5 million tonnes (Rio Tinto share: 5.5 million
tonnes).</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Iron &amp; Titanium </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><font size="2"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto Iron &amp; Titanium (RIT) comprises the wholly owned QIT-Fer et Titane
(QIT) in Quebec, Canada and the 50 per cent interest in Richards Bay Minerals
(RBM) in KwaZulu-Natal, South Africa. Both produce titanium dioxide feedstock
used by customers to manufacture pigments for paints and surface coatings, plastics
and paper, as well as iron and zircon co-products.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">QIT&#146;s
proprietary process technology enables it to supply both the sulphate and chloride
pigment manufacturing methods. Its upgraded slag (UGS) plant supplies the growing
chloride sector and is designed for expansion in line with demand up to a capacity
of 600,000 tonnes per year. During 2005 RIT delivered an expansion of its UGS
plant to 325,000 tonnes per annum, and announced a further
expansion to 375,000 tonnes which will be delivered in 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RBM&#146;s
ilmenite has a low alkali content which makes its feedstock suitable for the
chloride pigment process. RBM has the capacity to produce one million tonnes
of feedstock annually.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production disruptions induced by hurricanes in the US gulf coast tightened supply, allowing pigment prices to increase throughout 2005, a factor in RIT&#146;s strong performance.
Market conditions remained tight for chloride feedstocks, as chloride pigment plants continued to run at high utilisation rates.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Demand for very high grade feedstock products, such as QIT&#146;s upgraded titanium slag, remained strong. Sulphate markets continued to remain soft.
Market conditions for RIT&#146;s iron and steel co-products remained strong in the first half of 2005 but fell in May as scrap prices declined due to weakening global demand and higher Chinese pig iron exports. Prices stabilised after
September.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Zircon prices continued to increase in 2005, as markets continued to get stronger, reflecting a very tight global supply and demand balance. Zircon
production was 16 per cent higher than in 2004. Titanium dioxide feedstock production was ten per cent higher than in 2004, principally due to RBM&#146;s contribution which reflected the return to full production of a furnace. Likewise, upgraded
titanium slag production was 15 per cent higher than in 2004 due to the UGS expansion,</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Industrial minerals group projects </FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">QIT Madagascar Minerals </FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 80 per cent)<br>
</FONT></font><font size="2"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RIT manages QIT Madagascar Minerals (QMM), in which an agency of the Government of Madagascar has a 20 per cent interest. QMM was formed to evaluate large mineral sand deposits in the
south east of Madagascar.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
2005 Rio Tinto announced the approval of a US&#36;775 million titanium dioxide project. The project comprises a US&#36;585 million mineral sands
operation and port in Madagascar and a US&#36;190 million upgrade of Rio Tinto&#146;s
ilmenite facilities in Canada. First production from the operation in the Fort
Dauphin region is expected in late 2008 and the initial capacity will be 750,000
tonnes per year of ilmenite.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">65</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The ilmenite will be smelted at Rio Tinto&#146;s facilities at Sorel in Quebec. This will require an upgrade of storage and handling facilities as well
as their associated ancillary services. With a grade of 60 per cent titanium dioxide, the Madagascar orebody is the largest known undeveloped high grade ilmenite deposit. It has an expected mine life of 40 years and will supply a new, high quality
chloride slag with 91 per cent titanium dioxide content to meet long term demand for titanium dioxide by the pigment industry.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A deep sea multi-use public port at Ehoala, near the town of Fort Dauphin, will be an important component of the project. The mine will be a key initial
customer, providing the base load to help establish the port. Over time, it is expected the port will make an important contribution to economic development of the region.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Government of Madagascar has agreed to contribute US&#36;35 million to the establishment of the port, as part of its Growth Poles Project funded by
the World Bank. QMM will manage the port operations. At the end of the life of the mine, the port will fall under the responsibility and control of the Government of Madagascar.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Extensive engagement and consultation with the Government of Madagascar and local people and leaders has taken place over many years. The World Bank is
involved in a development role and NGOs, including the Royal Botanic Gardens Kew and Missouri Botanical Gardens, have been involved in planning environmental and conservation strategies.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Potasio Rio Colorado SA </FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has exercised its option to acquire 100 per cent of Potasio Rio Colorado S.A. and take ownership of the potash project it has been evaluating since 2003.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The decision to exercise the option early was based on the positive results of evaluation work to date. The resource is large scale and of high
mineralogical and structural quality and consistency. However, much work remains to be done before Rio Tinto makes a decision to take the project into production.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Assuming positive progress of the project, it is expected that a final feasibility study will be completed by the end of 2006 and subject to the outcome,
development could take place from early 2007 with first production in the middle of 2009. Production volumes currently being evaluated are in the range of 1.6 to 2.4 million tonnes per annum.</FONT></font></P>
<p><font size="2"><b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ALUMINIUM
  GROUP</font></b></font></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
	<TD width=15%>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Weipa bauxite</FONT></B></TD>
	<TD width=15%>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Alumina</FONT></B></TD>
	<TD width=15%>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Aluminium</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Aluminium</FONT></B></TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto share)</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto share)</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto share)</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying</FONT></TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">million tonnes</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000 tonnes</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000 tonnes</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings contribution*</FONT></TD>
</TR>
<TR>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MINED</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PRODUCTION</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PRODUCTION</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT></B></TD>
</TR>
<TR>
  <TD><img src="b832238x67x1.jpg" width="93" height="179"></TD>
  <TD><img src="b832238x67x2.jpg" width="94" height="179"></TD>
  <TD><img src="b832238x67x3.jpg" width="96" height="179"></TD>
  <TD><img src="b832238x67x4.jpg" width="46" height="179"></TD>
</TR>
</TABLE>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td width="3%"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</FONT></td>
    <td><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      amounts presented exclude net interest and other centrally reported items.
      A reconciliation with net earnings for 2004 and 2005 is set out in Note
      2 to the 2005 Financial statements. Product group earnings for 2004 and
      2005 are based on underlying earnings as determined under EU IFRS.</FONT></td>
  </tr>
</table>

  <p> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto
      Aluminium (RTA) is made up of Rio Tinto&#146;s wholly owned, group integrated
      aluminium subsidiary, Comalco, and its 51 per cent share in Anglesey Aluminium.</font><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At 31 December 2005, the Aluminium group accounted for 21 per cent of Rio Tinto&#146;s operating assets and in 2005 contributed 13 per cent of Group
gross turnover and eight per cent of underlying earnings.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar Groeneveld, chief executive Aluminium, is based in Brisbane, Australia.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance </FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 compared with 2004</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTA&#146;s contribution to 2005 underlying earnings was US&#36;392 million, an increase of 18 per cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Stronger aluminium prices increased earnings by US&#36;106 million with the average aluminium price in 2005 at 86 US cents per pound compared with 78 US
cents per pound in 2004. The effect of the weakening US currency reduced Aluminium&#146;s earnings by US&#36;34 million.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">66</FONT></B></td>
  </tr>
</table>
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<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Aluminium </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
Rio Tinto Aluminium (RTA) is a major supplier of bauxite, alumina and primary aluminium to world markets. It employs about 4,300 people. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTA
has a large, wholly owned bauxite mine at Weipa on Cape York Peninsula, Queensland.
A US&#36;150 million mine expansion was completed on time to
supply the bauxite requirements of the Comalco Alumina Refinery. Approximately
90 per cent of the bauxite from Weipa is shipped to alumina refineries at Gladstone,
Queensland, and Sardinia, Italy.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Construction
of the first stage of the wholly owned Comalco Alumina Refinery at Gladstone
in Queensland was completed in late 2004, ahead of schedule and close to the
budget of US&#36;750 million. Rated capacity is expected to be reached by the end of 2006. There is potential for capacity to be increased to over four million tonnes. The majority of the refinery&#146;s Stage One output will go into
RTA smelters. The balance will be placed in the traded alumina market. The refinery enables RTA to add further value to the Weipa bauxite deposit and strengthen both RTA&#146;s and Australia&#146;s
positions in the world alumina market.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTA
owns 38.6 per cent of Queensland Alumina Limited in Gladstone, the world&#146;s largest alumina refinery in terms of production and also owns 56.2
per cent of the Eurallumina refinery in Sardinia, Italy. RTA&#146;s primary aluminium
is produced by smelters at Boyne Island at Gladstone (59.4 per cent), Bell Bay
(100 per cent) in Tasmania, Tiwai Point (79.4 per cent) in New Zealand and Anglesey
Aluminium (51 per cent) in Wales, UK.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2003, Comalco signed a long term alumina supply agreement with Norsk Hydro, to supply 300,000 tonnes of alumina in 2005 and then 500,000 tonnes of
alumina per year for more than 20 years. This agreement underpins the investment in the Comalco Alumina Refinery.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bauxite production at Weipa reached record levels in 2005 at 15.5 million tonnes, 22 per cent higher than in 2004. This was due to the successful commissioning of the first stage of
Project NeWeipa, which led to increased production from both the East Weipa and Andoom mines.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Weipa bauxite shipments increased 22 per cent, to 15.0 million tonnes.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto&#146;s share of alumina production for 2005 was 33 per cent higher than
2004. Comalco Alumina Refinery produced 835,000 tonnes as efforts continued to
improve the reliability of the pumps feeding the digestion circuit. QAL production
increased by five per cent compared to 2004, a record production for the refinery.
Eurallumina production increased one per cent over 2004
levels.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTA&#146;s
share of aluminium production from its four smelters, at 854,000 tonnes, was
17,000 tonnes above 2004 production. Attributable metal shipments for 2005 were
859,000 tonnes, an increase of 18,000 tonnes, and went to primarily Japan, Korea,
Australia, South East Asia and Europe.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Aluminium group projects</FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Weipa mine expansion </FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
2005, RTA continued to invest in the Weipa bauxite mine to underpin the 2004
expansion to a simultaneous mining operation. This investment included replacing
the existing power
station with a new US&#36;40 million 26 megawatt power station. The new power station will service the mining operation and surrounding communities. The other major expenditure at Weipa was on a second US&#36;60 million shiploader to ensure
reliability of bauxite supply to customers. A further US&#36;19 million was spent
on additional tailings storage for the Andoom mine.</FONT></P>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COPPER
GROUP</FONT></B></font></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
	<TD width=15%>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Copper</FONT></B></TD>
	<TD width=15%>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Copper</FONT></B></TD>
	<TD width=15%>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Gold</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Copper group</FONT></B></TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto share)</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto share)</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto share)</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying</FONT></TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000 tonnes</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000 tonnes</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000 tonnes</FONT></TD>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings contribution*</FONT></TD>
</TR>
<TR>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MINED</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">REFINED</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MINED</FONT></B></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT></B></TD>
</TR>
<TR>
  <TD><img src="b832238x68x1.jpg" width="97" height="215"></TD>
  <TD><img src="b832238x68x2.jpg" width="99" height="215"></TD>
  <TD><img src="b832238x68x3.jpg" width="119" height="215"></TD>
  <TD><img src="b832238x68x4.jpg" width="47" height="215"></TD>
</TR>
</TABLE>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr valign="top">
    <td width="3%"><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</font></td>
    <td><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> The
        amounts presented exclude net interest and other centrally reported items.
        A reconciliation with net earnings for 2004 and 2005 is set out in Note
        2 to the 2005 Financial statements. Product group earnings for 2004 and
        2005 are based on underlying earnings as determined under EU IFRS.</FONT></td>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">67</FONT></B></td>
  </tr>
</table>
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<div style="page-break-before:always"></div><page><a name="p68"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s Copper group comprises Kennecott Utah Copper in the US and interests in the copper mines of Escondida in Chile, Grasberg in Indonesia, Northparkes in Australia,
Palabora in South Africa, and the Resolution Copper project in the US. The group also has management responsibility for Kennecott Minerals Company in the US.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At 31 December 2005, the Copper group, which also produces gold and molybdenum as significant by-products, accounted for 17 per cent of the Group&#146;s
operating assets and, in 2005, contributed approximately 23 per cent of Rio Tinto&#146;s gross turnover, of which 61 per cent was from copper, 20 per cent from molybdenum and the remainder mostly from gold. It accounted for 41 per cent of underlying
earnings in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom Albanese, chief executive Copper and Exploration, is based in London. Bret Clayton will be appointed chief executive Copper on 1 July 2006, when Tom
will be appointed director, Group Resources.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance </FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 compared with 2004</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Copper group&#146;s contribution to underlying earnings was US&#36;2,020 million, US&#36;1,160 million higher than in 2004. The average price of copper was 166 US cents per pound
compared to 130 US cents in 2004. The average price of molybdenum was US&#36;30.70 per pound compared to US&#36;14.60 per pound in 2004. The average gold price of US&#36;444 per ounce increased by nine per cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott Utah Copper&#146;s contribution to underlying earnings of US&#36;1,037 million compared with US&#36;311 million in 2004. Molybdenum production
was significantly increased due to a refocus of the mine plan in response to significantly higher molybdenum prices.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s share of underlying earnings from Escondida increased by US&#36;196 million to US&#36;602 million. Mined production of copper was up
five per cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The underlying earnings contribution from the Grasberg joint venture increased by US&#36;200 million to US&#36;232 million chiefly as a result of the
continuation of full production after the material slippage in October 2003.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora
recorded a profit of US&#36;19 million in 2005 due to improved performance of
underground production.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Utah Copper </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott Utah Copper (KUC) operates the Bingham Canyon mine, Copperton concentrator and Garfield smelter complex, near Salt Lake City, US.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">KUC supplies more than ten per cent of annual US refined copper requirements and employs approximately 1,600 people. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">KUC provides some management services to the wholly owned Barneys Canyon gold mine due to its proximity to Bingham Canyon. Mining and milling at Barneys
Canyon ended in 2001 and gold production will cease after 2006. The operation employs about 20 people.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Performance in 2005 was dominated by molybdenum prices and production, which was achieved with some sacrifice of copper concentrate production. In order to take advantage of the
strong market for molybdenum, mine production was optimised and an expansion of the molybdenum plant, which is designed to increase recoveries, was completed in June 2005. Molybdenum production was 130 per cent higher than in 2004. The focus on
maximising molybdenum production enhanced overall margins notwithstanding a rise in associated costs.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Refined copper production was six per cent lower than in 2004. In addition to the lower copper grades as a result of optimising molybdenum production,
production was also affected by a 17 day planned smelter maintenance shutdown. A further 45 day shutdown is planned for the second half of 2006, drawing on lessons learned from the successful shutdown in 2005.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A project to enlarge the Bingham Canyon open pit was approved in February 2005. The East 1 pushback is expected to extend the life of the open pit to
2017. Capital expenditure on the project is budgeted to be US&#36;100 million for mine facilities, a concentrator upgrade and mobile equipment, and US&#36;70 million after 2008 for the relocation of the in pit crusher and dewatering facilities. Mine
development options from 2017 will be reviewed in the context of the decision to proceed with the East 1 pushback, and include various open pit and underground alternatives.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">68</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p69"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
    <TD align="center"><b><font size="2">&nbsp;</font> </b></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align="center"><b><font size="2">&nbsp;</font> </b></TD>
    <TD align=right><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></b></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr noshade size="1"></TD>
    <TD align=left><hr noshade size="1"></TD>
    <TD><hr noshade size="1"></TD>
    <TD align=left><hr noshade size="1"></TD>
    <TD><hr noshade size="1"></TD>
    <TD align=left><hr noshade size="1"></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal
      operating statistics at KUC 2003 &#150; 2005</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rock
      mined (&#146;000 tonnes)</FONT></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">135,204</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">129,196</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">140,906</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore
      milled (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46,105</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,712</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">46,664</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Head
      grades</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      (%)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.67</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.63</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.53</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold
      (g/t)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.29</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.29</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.37</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Silver
      (g/t)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.02</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.04</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3.23</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Molybdenum
      (%)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.027</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.033</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.058</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      concentrates produced (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,147</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,106</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">881</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
      of metals in copper concentrates</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">281.8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">263.7</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">220.6</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold
      (&#146;000 ounces)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">305</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">308</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">401</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Silver
      (&#146;000 ounces)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,548</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,584</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,958</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Molybdenum
      concentrates produced (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.9</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">29.5</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Contained
      molybdenum (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.6</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">15.6</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Concentrate
      smelted on site (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,060</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,098</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,042</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
      of refined metals</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">230.6</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">246.7</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">232.0</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold
      (&#146;000 ounces)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">308</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">369</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Silver
      (&#146;000 ounces)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,963</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,344</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,538</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Grasberg joint venture </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 40 per cent)<br>
Grasberg,
in Papua, Indonesia, is one of the world&#146;s largest copper and gold mines in terms of reserves and production. It is owned and operated by Freeport Indonesia (PTFI), the
principal and 91 per cent owned subsidiary of the US based Freeport-McMoRan Copper &amp; Gold
Inc. (FCX).</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">To
meet the mine&#146;s social obligations to local communities, at least one per cent of Grasberg&#146;s net sales revenues are committed to support
village based programmes. In addition, two new trust funds were established in 2001 in recognition of the traditional land rights of the local Amungme and Komoro tribes. In 2005, PTFI contributed US&#36;36 million (net of Rio Tinto portion) and Rio
Tinto US&#36;7 million in total to the funds.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
a result of training and educational programmes, Papuans represented more than
a quarter of PTFI&#146;s approximately 9,000 workforce by the end of
2005.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production in 2005 was significantly above 2004 when resources were dedicated to recovery from the 2003 material slippage. In 2005, Rio Tinto&#146;s share of production was calculated
using the adjusted joint venture allocation, known as the metal strip, which was agreed upon in December 2004, subject to certain production targets being met by PTFI. As production from Grasberg fell short of the agreed targets, Rio Tinto received
an additional 8,500 tonnes of copper as an increased allocation in December 2005.</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
    <TD align="center"><b><font size="2">&nbsp;</font> </b></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align="center"><b><font size="2">&nbsp;</font> </b></TD>
    <TD align=right><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></b></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal
      operating statistics for PTFI 2003-2005</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore
      milled (&#146;000 tonnes)</FONT></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">74,103</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67,750</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">78,907</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Head
      grades</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      (%)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.09</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.87</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.13</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold
      (g/t)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.54</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.88</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.65</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Silver
      (g/t)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.03</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.85</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4.88</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
      of metals in concentrates</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      (&#146;000 tonnes)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">715.8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">516.4</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">793.9</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold
      (&#146;000 ounces)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,262</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,584</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,546</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Silver
      (&#146;000 ounces)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,474</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,037</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7,531</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Escondida </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 30 per cent)<br>
The low cost Escondida copper mine in Chile is one of the largest copper mines in the world by annual production, with a mine life expected to exceed 30 years. The mine accounts for
approximately eight percent of world primary copper production. BHP Billiton owns 57.5 percent of Escondida and is the operator and product sales agent.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Escondida district hosts two of the largest porphyry copper deposit systems in
the world &#150; Escondida and Escondida Norte, located five
kilometres from Escondida. Norte is expected to provide mill feed to maintain
capacity at Escondida above 1.2 million tonnes per annum of copper in concentrate
and cathode to the end of 2008 as existing Escondida mine grades decline. First
production from Norte occurred in the fourth quarter of 2005 with the ramp up
exceeding initial expectations. Low grade sulphide ore is currently being stockpiled
for processing in a bioleaching facility that is currently under construction.
The
sulphide leach project involves the use of bacteria to leach copper from sulphide
ores that would otherwise be discarded as waste. The project will produce 180,000
tonnes (Rio Tinto share 54,000 tonnes) of copper cathode metal per annum for
more than 25 years. Initial cathode production is planned for the second half
of 2006.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida employs approximately 2,800 people directly, together with a similar number of contractor personnel.</FONT></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">69</FONT></B></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p70"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><font size="2"><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Escondida&#146;s mined copper production was five per cent higher than in 2004 largely due to higher milling rates at both concentrators. Ore delivery from Norte commenced in October
and the harder composition of ore did not result in reduced milling rates as previously expected. Overall, Escondida ore tonnes milled were four per cent higher. Cathode production was five per cent lower than in 2004 due to lower grade oxide ore
from unexpected high content of clay.</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1"></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
	<TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal
      operating statistics at Escondida 2003-2005</FONT></B></TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp;	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp;	</TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp;	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rock
      mined (&#146;000 tonnes)</FONT></TD>
	<TD width="2%">&nbsp; </TD>
	<TD width="10%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300,386</FONT></TD>
	<TD width="2%">&nbsp; </TD>
	<TD width="10%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">377,356</FONT></TD>
	<TD width="2%">&nbsp; </TD>
	<TD width="10%" align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">359,569</FONT></B></TD>
    <TD width="2%" align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore
      milled (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70,347</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">82,378</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">86,054</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Head
      grade</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      (%)</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.43</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.51</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.53</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
      of metals in concentrates</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
	<TD>&nbsp; </TD>
	<TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">847</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,046</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,127</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold
      (&#146;000 ounces)</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">184</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">217</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">183</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Silver
      (&#146;000 ounces)</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,728</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,747</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,565</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper
      cathode (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">147.6</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">152.1</FONT></TD>
	<TD>&nbsp; </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">143.9</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Palabora </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 47.2 per cent)<br>
Palabora Mining Company (Palabora) is a publicly listed company on the Johannesburg Stock Exchange and operates a mine and smelter complex in South Africa.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora
has developed a US&#36;465 million underground mine with a planned production
rate of at least 30,000 tonnes per day of ore. Approximately 700,000 tonnes of
copper are expected to be produced over the remaining life of the mine.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora
supplies most of South Africa&#146;s copper needs and exports the balance. It
employs approximately 1,800 people and labour agreements are
negotiated annually.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Palabora recorded a net profit of US&#36;19 million compared with net loss of US&#36;21 million in 2004. Underground production for the year averaged 27,500 tonnes per day which is 16
per cent higher than 2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production rates peaked in the month of May at 32,000 tonnes per day after the introduction of an employee productivity scheme. The average annual
production fell short of the target of 30,000 tonnes per day due to industrial action later in the year and maintenance issues on the north winder earlier in the year. The average ore grade was 0.72 per cent compared to 0.74 per cent in
2004.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As a result of mine production shortfalls and lower grades, concentrate production had to be supplemented by purchases of concentrate material to
optimise smelter throughput. Palabora will continue to purchase concentrates to supplement the smelter as capacity exceeds the mine output.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In August, Palabora finalised its lending facilities and entered into hedge contracts which were required as part of the refinancing. Forward pricing
contracts have been put in place representing 60 per cent of the budgeted underground production for the first three years and 30 per cent in the remaining five years of the loan facility.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2004, Palabora suffered a provision for asset impairment of US&#36;161 million after tax and outside shareholders&#146; interests. This was excluded
from underlying earnings.</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>      </TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
  <TR valign="bottom">
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal operating statistics at Palabora 2003-2005</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore milled (&#146;000 tonnes)</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=10% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,415</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=10% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,657</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=10% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9,536</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Head grade</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper (%)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.59</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.74</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.72</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper concentrates produced (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">163.3</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">187.7</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">197.1</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Contained copper (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">61.2</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">New concentrates smelted on site (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">267.6</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">253.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">304.4</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Refined copper produced (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67.5</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">80.3</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Northparkes </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 80 per cent)<br>
Rio
Tinto&#146;s interest in the Northparkes copper-gold mine resulted from the acquisition
of North Ltd. Northparkes is a joint venture with the Sumitomo Group (20 per
cent).</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Following an initial open pit operation at Northparkes in central New South Wales, Australia, underground block cave mining has been undertaken since
1997. With present and future developments, the operation has an expected life of 13 years at current production rates.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The copper concentrate produced is shipped under long term contracts that provide for periodic negotiation of certain charges, as well as spot sales, to
smelters in Japan (67 per cent), China (17 per cent) and other countries (16 per cent).<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Northparkes employs approximately 150 people together with 140 permanent contractors.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">70</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p71"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><font size="2"><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The year saw a full year&#146;s production from the Lift 2 block cave and the cessation of mining from the open cut, which was used as additional feed during the ramp up of Lift 2.
Underground production continued to ramp up, exceeding nameplate capacity in June. Better cave fragmentation and grades contributed to 80 per cent higher copper production in 2005.</FONT></font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
	<TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>

	</TD>
	<TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
	<TD align="center"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
	<TD align=right> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
  <TR valign="bottom">
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left><hr noshade size="1">
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal operating statistics at Northparkes 2003-2005</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ore milled (&#146;000 tonnes)</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=10% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,168</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=10% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,008</FONT></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=10% align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,453</FONT></B></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Head grade:</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper (%)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.67</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.79</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1.12</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold (g/t)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.44</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.66</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0.46</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Production of contained metals</FONT></I>&nbsp;
	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper (&#146;000 tonnes)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.1</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">54.0</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Gold (&#146;000 ounces)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48.6</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">79.4</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">57.0</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=left>&nbsp;</TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Minerals </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
Kennecott
Minerals in the US manages the Greens Creek mine (Rio Tinto: 70 per cent) on
Admiralty Island in Alaska which produces gold, silver, zinc and lead. The Rawhide
mine (Rio Tinto: 51 per cent) in Nevada produces gold and silver by leaching
since mining operations ceased in 2002. Reclamation work is well advanced. Kennecott
Minerals also owns the Group&#146;s interest in the Cortez gold mine (Rio Tinto:
40 per cent),
also in Nevada.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kennecott Minerals employs approximately 300 people, excluding employees of non managed operations.</FONT></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Net earnings of US&#36;73 million were US&#36;9 million below 2004 reflecting lower production from lower grades at Cortez as mining of the current Pipeline deposit approaches the end
of its life.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At Greens Creek mill throughput was 11 per cent lower than in 2004, however with variation in head grades, silver production was equal to 2004
production, and zinc production was 16 per cent lower than in 2004. The focus at Greens Creek in the second half of the year was on mine rehabilitation work in the main underground infrastructure, resulting in the lower throughput for the
year.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Copper group projects </FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Resolution </FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 55 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Resolution project is situated in Arizona, US, in the area of the depleted Magma
(Superior) copper mine. In 2001, an agreement was signed with BHP Billiton Base
Metals which allowed Rio Tinto to earn a 55 per cent interest in the project
by spending US&#36;25 million over six years. Rio Tinto completed earning its
55 per cent interest in the project in early 2004. In June 2005, approval was
granted to evaluate options for accelerating exploration shaft development. This
is currently planned to begin in 2006. Significant value will be added to the
project if a land exchange programme is successful, allowing extension of the
ore body into adjacent land. The Act
supporting the land exchange was introduced in the US House of Representatives
and the Senate in May 2005 and approval by Congress is anticipated in 2006.</FONT></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Cortez Hills </FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 40 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto holds a 40 per cent interest in the Cortez gold mine, a joint venture with Placer Dome. The mine is located in northeastern Nevada, US, and the associated area of interest
includes the Cortez Hills deposit, discovered in 2003 which contains proven and probable reserves of 7.5 million ounces of gold. A feasibility study is in progress to determine the optimum sequencing for development of the deposits within the Cortez
area of interest. It is anticipated that operating permits for Cortez Hills will be obtained in 2006, with initial gold production occurring in mid 2007.</FONT></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Eagle </FONT></I></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Eagle project is a small tonnage, high grade nickel deposit located in Michigan, US, for which Kennecott Minerals has commissioned a prefeasibility study. Permitting approvals are
underway.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">71</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p72"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DIAMONDS GROUP</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=15% align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Diamonds</FONT></B></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Diamonds</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto share)</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#146;000 carats</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Earnings contribution*</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MINED</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;m</FONT></B></TD>
</TR>
<TR valign="bottom">
  <TD align=left><img src="b832238x73x1.jpg" width="104" height="182"></TD>
  <TD>&nbsp;</TD>
  <TD align=left><img src="b832238x73x2.jpg" width="51" height="182"></TD>
</TR>
</TABLE>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td width="3%" valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">*</FONT></td>
    <td><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        amounts presented exclude net interest and other centrally reported items.
        A reconciliation with net earnings for 2004 and 2005 is set out in Note
        2 to the 2005 Financial statements. Product group earnings for 2004 and
    2005 are based on underlying earnings as determined under EU IFRS</FONT></td>
  </tr>
</table>

<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Diamonds product group comprises Rio Tinto&#146;s 60 per cent interest in the Diavik Diamonds mine in Canada, the wholly owned Argyle mine in Australia, Rio Tinto&#146;s 78 per
cent interest in the Murowa mine in Zimbabwe and diamond sales and representative offices in Belgium and India.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The group&#146;s focus is the mining, recovery and sale of rough natural diamonds. In keeping with Rio Tinto&#146;s values, the group is a leading
proponent of the Kimberley Process and driver of programmes such as the Business Excellence Model and partnerships like the Council for Responsible Jewellery Practices to ensure suppliers, partners and customers operate to acceptable standards of
social and environmental responsibility. Rio Tinto sells its diamonds through its marketing arm, Rio Tinto Diamonds, according to a strict chain of custody process allowing the sale of diamonds according to their mine source in order to gain the
benefits of origin.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At 31 December 2005, Diamonds accounted for seven per cent of the Group&#146;s operating assets and, in 2005, contributed five per cent of Rio
Tinto&#146;s gross turnover and six per cent of underlying earnings.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith Johnson, chief executive, Diamonds, is based in London.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance </FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 compared with 2004</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diamonds contributed US&#36;281 million to underlying earnings, an increase of US&#36;93 million from 2004, assisted by a strong diamond market and the solid performance by Argyle,
Diavik and Murowa.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The rough diamond market remained strong for most of 2005 with the Rio Tinto product offering in great demand. Seasonal softening toward the end of the
year was mainly due to holidays and festivals in the key customer markets.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Prices for polished diamonds increased in 2005, with the majority of gains made in the first half of the year. Strongest demand was seen in the product
types in shortest supply. This included large diamonds greater than two carats in size with better colour and quality, and the smaller diamond segments.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Diavik Diamonds </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 60 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diavik
Diamond Mines (DDMI) owns Rio Tinto&#146;s interest in and manages the unincorporated
Diavik Diamonds joint venture in the Northwest Territories of Canada.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Construction was completed in 2003 with production first group commencing in January 2003. Since then the project has exceeded expectations. Open pit
mining is expected to continue mainly from A154S and subsequently A418 well beyond 2010.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
late 2004 the board approved the US&#36;190 million construction cost of a dike around the A418 kimberlite to enable open pit mining beneath the lake
bed. The board also approved the commencement of a study into the feasibility of underground mining of the A154N, A154S and A418 kimberlites. This study includes the development of a 3.3 kilometre exploratory decline, at an estimated cost of
US&#36;75 million.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying earnings were US&#36;143 million, US&#36;4 million below 2004. Sales of Diavik diamonds continued to attract a high level of interest with prices remaining
steady.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production in 2005 exceeded that in 2004 with good operational and plant performance achieving a new volume record. Ore blending strategies were employed
to increase throughput which allowed the process plant to comfortably exceed design capacity on a consistent basis. Grades also steadily improved as mining continued deeper into the </FONT><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">orebody,
improving understanding of the resource.</font><font size="2"></font></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">72</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

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<P><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A strategic planning and development team, separate from mine operations, was formed to carry out the study on how best to extend the life of the Diavik
operation underground and oversee the development of the A418 dike and exploratory decline. Construction of the dike progressed ahead of schedule with the barrier being closed off in October. Work on the dike followed by pre-stripping of the lake
bottom will continue into 2008 before open pit mining on the A418 kimberlite can commence. Construction of the exploratory decline also commenced during the year with close to one kilometre of tunnel developed. The underground study proceeded on
schedule.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bulk sampling of the A21 kimberlite commenced to determine whether it could be classified as a reserve and feature in the Diavik mine plan. This work is
expected to be completed in 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2005, there were approximately 350 employees and an equal number of contracted employees. Approximately one third of Diavik&#146;s 700 workforce is
made up of indigenous people.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Argyle </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto owns and operates the Argyle diamond mine in Western Australia.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Production
from Argyle&#146;s AK1 open pit mine, is expected to continue until 2008.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
late 2005 the Rio Tinto board approved the development of an underground block
cave mine under the AK1 open pit. It also approved an open pit cutback on the
Northern Bowl to facilitate the transition from open pit to underground mining.
The capital cost of the underground mine is expected to be US&#36;760 million, and the cutback US&#36;150
million. The work is planned to extend the life of the Argyle operation to 2018.
Construction started in February 2006 and development work associated with the
exploratory decline will continue.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying earnings of US&#36;117 million were US&#36;77 million higher than in 2004. Diamond production for 2005 was 48 per cent higher with 30.5 million carats produced. Performance
improved considerably over 2004 even though tight mining conditions prevailed as a result of the deepening open pit and a highly competitive labour market.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Argyle celebrated the signing of the Argyle Participation Agreement in June 2005 ensuring mining&#146;s contribution to sustainable livelihoods locally.
The agreement was signed with the indigenous traditional owners and the Kimberley Land Council. More than 600 visitors, including the governor general of Australia and the premier of Western Australia, attended the ceremony.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2005, there were approximately 800 employees and 250 contractors. One quarter of Argyle&#146;s approximately 1,050 workforce is made up of indigenous
people.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Murowa </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 77.8 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Production
at Murowa commenced in late 2004 after US&#36;11 million was spent on constructing
a 200,000 tonnes per year plant and supporting infrastructure. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The small scale Murowa operation is focused on 1.3 million tonnes of weathered material containing 140,000 tonnes of enriched ore. This operation reduced
the initial investment required so as to allow confirmation of marketing and regulatory arrangements prior to expansion. Chain of custody safeguards put in place at the commencement of production have performed without incident. Zimbabwe is a
signatory of the Kimberley Process.</FONT></font></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Underlying earnings were US&#36;21 million. The product was well received on the market with prices exceeding expectations.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">A small modification was made to the front end of the Murowa plant in mid-2005 to increase throughput rates. This modification saw production for the
year exceed targets.<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A high level order of magnitude study looking at expansion options was completed.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 2005,
there were 81 employees and 142 contractors.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Improving performance together</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has embarked on a new phase of business improvement it has called </FONT><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Improving performance
togethe</FONT></I><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">r. Led by Keith Johnson in addition to his role as chief executive, Diamonds, this is a set of internal initiatives to enhance collaboration across all of Rio
Tinto&#146;s businesses to deliver additional value.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The initiatives build on the Group&#146;s existing strengths in core areas such as mining, processing, marketing and asset management. They also look at
fundamental processes such as investment opportunity generation, planning, information technology and how key Groupwide functions are organised.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By tapping into the expertise of employees worldwide, the Group is systematically identifying where already high standards of performance can be further
improved and where they should be replicated.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The work began in 2005 and is gaining momentum in 2006 as projects are introduced at key sites and lessons learned are shared between operations.
Tangible results are already being recorded that open up exciting opportunities. To embed the improvements being brought about, refinements are being made to the way the Group is organised, so that the Group works together more closely.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Improving performance together </FONT></I><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">aims to ensure that Rio Tinto
maximises value creation whatever the market conditions.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">73</FONT></b></td>
  </tr>
</table>

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<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">OTHER OPERATIONS</FONT></B></P>
<P><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Lihir </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 0 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
    Tinto relinquished management control of the Lihir mine in Papua New Guinea
    in September and in November entered into contracts to sell its 14.46 per
    cent shareholding for
approximately US&#36;295 million. The shares were sold at a price of A&#36;2.15
per share. </FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kelian </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 90 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kelian Equatorial Mining (Kelian) operated an open pit gold mine in East Kalimantan, Indonesia. Mining ceased in 2003 with production from stockpiled ore completed in early 2005. A
mine closure consultative process was completed in 2003 with stakeholders agreeing on the key mine closure directions. Work is continuing on mine closure activities. Settlement of compensation claims under a 2001 agreement are substantially complete
and a number of programmes are in place to provide sustainable solutions for local communities and former employees after closure.</FONT></P>
<P><font size="2">
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 operating performance</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s share of Kelian&#146;s production from processing stockpiles was 38,380 ounces of gold in 2005.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sari Gunay </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 70 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Sari Gunay gold project in Kordestan province in western Iran progressed from the prefeasibility stage to the feasibility study phase. A bankable feasibility study is expected to
be presented to senior management for a decision in 2006 as to whether to proceed to the development stage. Project costs have in recent years reduced Group earnings by an average of one quarter of one per cent.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Kennecott Land </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Rio Tinto: 100 per cent)<br>
</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott
Land was established in 2001 to capture value from the non mining land and water
rights assets of Kennecott Utah Copper. The Kennecott Land holdings are around
53 per cent
of remaining undeveloped land in the Utah&#146;s Salt Lake Valley. Approximately
16,000 hectares of the 37,200 hectares owned is developable land and is all within
20 miles (32km) of downtown Salt Lake City.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
initial Daybreak community encompasses 1,800 hectares and is entitled to develop
nearly 14,000 residential units and nine million square feet of commercial space.
Kennecott Land develops the required infrastructure and prepares the land for
sale to home builders. The project is well advanced with 800 home sales since
opening in June 2004. At full build out, the community will house 30,000 to
40,000 residents. Revenues in 2005 exceeded US&#36;30 million.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Kennecott Land is in the process of securing development rights from Salt Lake County for the remaining landholdings. Current development potential for
this land is over 150,000 residential units and 50 million square feet of commercial space. Securing entitlement is a long term public process that will culminate in a plan submitted for approval by the Salt Lake County Council during the next one
to two years.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXPLORATION GROUP</FONT></B></font></P>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Exploration seeks to discover or identify mineral resources that will contribute to the growth of the Rio Tinto Group. The discovery of new resources is essential to replace
  deposits as they are mined and to help meet the increasing global demand for minerals and metals.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Exploration group is opportunistic in approach and its resources are deployed on projects that show the best chance of delivering a world class
  deposit to Rio Tinto. Mineral exploration is a high risk activity. Rio Tinto&#146;s statistics show that an average of only one in 350 mineral prospects that are drill tested result in a mine for the Group. Rio Tinto believes in having a critical
  mass of projects, selected through a rigorous process of prioritisation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Exploration group is organised into four geographically based teams for North America, South America, Australasia and Africa/Europe, but from June
  2006 a fifth team will be created to cover Asia. At the same time another team that looks for industrial minerals on a global basis will be folded into the five geographically based teams. Additionally, a focused project generation team covers the
  world for new opportunities.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">At the end of 2005, Rio Tinto was exploring in 30 countries for a broad range of commodities including copper, diamonds, nickel, industrial minerals,
  bauxite, iron ore and coal. Exploration employs 178 geologists and geophysicists around the world and has a total complement of approximately 800 people.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom Albanese, chief executive Copper and Exploration, is based in London.</FONT></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 operating performance</FONT></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exploration in 2005 focused on advancing the most promising targets across the spectrum of grassroots, generative, drill test stage, and near mine programmes. Encouraging results were
obtained from a number of locations.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">An order of magnitude study was completed on the La Sampala project (nickel, Indonesia). However, this project remains with the Exploration group while a
Contract of Work is negotiated with the Government of Indonesia. In the Pilbara of Western Australia five new iron ore deposits were handed over to the product group evaluation team.</FONT></font></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">74</FONT></b></td>
  </tr>
</table>

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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since 2001 five projects have moved from exploration to the next stage of project evaluation including Resolution (copper, Arizona, US), Potasio Rio
Colorado (potash, Argentina) and Simandou (iron ore, Guinea). In addition to these projects, near mine exploration has also been undertaken. </FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">During 2006 several projects will initiate order of magnitude studies to assess their economic potential for advancement to pre-feasibility
assessment.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Diamond exploration continued in Canada, southern Africa, Mauritania, Brazil and India. A number of diamond bearing kimberlite pipes were discovered and
follow up test work is in progress to gauge economic potential. The Indian diamond programme is showing early promise.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Copper exploration continued in Turkey, Kazakhstan, Peru, Chile, Argentina, Mexico and the US. Drilling encountered copper mineralisation in Turkey and
the US, warranting further follow up drill testing.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exploration focus on the bulk commodities iron ore, coal and bauxite has been increasing each year for the last several years and did so again in 2005.
Ongoing evaluation of several projects is continuing with the intention to progress additional projects to product group handover in 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Exploration group was active in the search for industrial mineral deposits in a number of parts of the world including North and South America,
Europe, south east Asia and Turkey.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Support continued for brownfield work at a number of Rio Tinto operations, including Diavik, Argyle, Kennecott Utah Copper, Energy Resources of
Australia, Pilbara Iron and R&ouml;ssing.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In December Rio Tinto received confirmation of success in two tenders. The first was the award of the La Granja copper project located in the Cajamarca
region of northern Peru. The bid comprises a US&#36;60 million investment in exploration and feasibility work and staged payments to the Peruvian government of US&#36;22 million. Rio Tinto will be conducting a study aimed at demonstrating the
feasibility of leaching the ore and electrowinning copper metal.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The second successful tender was for the Jarandol concession hosting the Piskanja borate deposit located in southern Serbia. This project will now enter
a period of ongoing exploration and evaluation planned to last between three and five years.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On 27 January 2006 Rio Tinto announced with Norilsk Nickel the launch of an exploration and development joint venture in Russia. A Russian limited
liability company has been formed owned 51 per cent by Norilsk and 49 per cent by Rio Tinto. The joint venture will give Rio Tinto exploration access to a large area of interest in the Siberian and far eastern districts of Russia.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In December the Exploration Group received ISO14001 certification covering all the environmental management activities of the four core geographical
regions. During 2005 a single integrated HSEC management system was developed and introduced across the Exploration group. The management system framework of ISO14001 was extended from environmental matters to also cover the other related areas of
health, safety and communities.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance</FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">2005 compared with 2004</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cash expenditure on exploration in 2005 was US&#36;264 million and the pre-tax charge to underlying earnings was US&#36;250 million, a US&#36;60 million increase over 2004, reflecting
a further increase in iron ore exploration in Western Australia, the growth of high quality projects in the Exploration pipeline and further acceleration of evaluation on significant projects by product groups during the year.</FONT></font></P>
<p><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TECHNOLOGY GROUP</FONT></B></font></P>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Technology group provides a central platform to support Rio Tinto&#146;s operations, future growth and profitability. It provides a world-class technology based service to the
  product groups and their businesses and advises executive management. Through the Health, Safety and Environment unit, assurance is provided to the board with regard to the development and implementation of Rio Tinto&#146;s Safety, Occupational
  Health and Environment policies and standards.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">All units in the Technology Group identify, share and implement leading practice across Rio Tinto. Collaboration in knowledge capture and dissemination
  is a key requirement for all staff.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Throughout 2005 Technology group staff were a core part of the </FONT><I><FONT face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Improving performance together </FONT></I><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">programme, driving the implementation of a number of initiatives to create value for the Group through a combination of
  capital efficiency, higher volumes, higher revenues and improved productivity.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The total staff in the Technology group at year end was 343 compared with 362 in 2004. The decrease was due to reassignment of some support functions to
  the Rio Tinto Shared Services group.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On 1 May 2005 Ian Smith succeeded John O&#146;Reilly as head of Technology, and is based in London. On 15 July 2006 Ian will be succeeded by Grant
  Thorne.</FONT></font></P>
<P><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 operating performance </FONT></B><br>
<B><I><FONT face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Health, Safety and Environment</FONT></I></B><br>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Health, Safety and Environment continued to work closely with Group businesses, providing the support systems for full and consistent implementation of the strategies, standards,
guidance and procedures.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Rio Tinto Safety Plan is being updated to reflect emerging issues, changed legislation and leading practices. A Product Stewardship Strategy has been
developed for implementation across the businesses in 2006.</FONT></font></P>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">75</font></b></td>
  </tr>
</table>
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<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Technical Services</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Technical Services continued to increase its involvement with Rio Tinto operations, play its role in ore reserve assurance and also provide significant contributions at non managed
operations. Activity over the year was again at record levels, with a strong focus on the enhancement of initiatives to improve performance and implement best practice in areas such as mine planning and metallurgical margin improvement. Initiatives
progressed during the year include underground mining technologies and quantitative mineralogy.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A number of current development projects are linked with external research programmes in order to leverage value for Rio Tinto. Others are focussed on
innovation and best practice in key areas to add value in a shorter time frame.</FONT></P>
<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Office of the Chief Technologist</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Office of the Chief Technologist is responsible for the identification and the transfer of technology based opportunities for the Group.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The external research portfolio covers a broad range of initiatives with potential to add value in the medium to longer term. These activities link
directly with internal development projects, providing a clear pathway for implementation. Work on energy efficiency in mineral liberation and comminution (including new microwave technology) continues to be a focus. A number of breakthrough
projects are also being pursued.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Rio Tinto Foundation for a Sustainable Minerals Industry approved a further 12 projects for funding. The Australian Government and Rio Tinto funding
commitments for the Foundation have now been fulfilled.</FONT></P>
<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Technical Evaluation and Project Management</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Technical Evaluation continued in its principal role of providing independent review of all major investment proposals being considered by the Group. Risk assessment and management is
an important and integral component of the project review process. The unit also continued with the programme of post investment reviews and lessons learned from completed projects are shared within the Group.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Project Management Unit provides ongoing support to major project teams across Rio Tinto, both for projects in execution and those still in the
feasibility stage. There was also continued involvement with some major projects at non managed operations. Two project management forums were held during the year focussing on collaboration between project teams and capture of lessons
learned.</FONT></P>

<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Asset Utilisation</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This unit is now well established across the Group and its workload continued to expand. There has been particularly heavy involvement with the iron ore operations in Western
Australia which continued through 2005. The process control group is now well established and implementation of performance improvement was progressed in a number of areas. These included asset integrity and remote monitoring. There is continuing
emphasis on ensuring that safety, operability and maintainability issues are fully addressed and incorporated in all the unit&#146;s work.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial performance</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The charge for the Technology group (including Health, Safety and Environment) against net earnings was US&#36;41 million, compared with US&#36;35 million in 2004. The increase was
due to the greater level of activity in all Technology group units.</FONT></P>
<p><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">GROUP
SOCIETY AND ENVIRONMENT</font></b></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Group
employees</FONT></B></TD>
	<TD align=left> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal
    employee locations 2005</font></b></TD>
  </TR>
<TR valign="bottom">
	<TD width=25% align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(approximate
average for year)</FONT></TD>
	<TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(approximate
	    average for
	    year)</FONT></TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp; </TD>
  </TR>
<TR valign="top">
  <TD align=left><div align="left"><img src="b832238x77x1.jpg" width="100" height="179"></div></TD>
  <TD align=left><div align="left"><img src="b832238x77x2.jpg" width="318" height="200"></div></TD>
  </TR>
</TABLE>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">76</font></b></td>
  </tr>
</table>
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<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto is in business to create value by finding and developing world class mineral deposits and operating and eventually closing operations safely, responsibly and efficiently. To
do so, the Group takes a disciplined and integrated approach to the economic, social and environmental aspects of all its activities.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The approach to achieving this is through implementation of the policies described in </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">The way we work, </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s statement of business practice, at all levels of the business.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The statement was revised and redistributed in 2003 and is now available in 21 languages. It is the result of wide internal consultation and discussion
and represents shared values from around the Group. The document was published initially in January 1998. It was revised in 2002 in the light of experience, following further Group wide review and consultation, external benchmarking of policies
against the best practice of other organisations and approval by the Rio Tinto board.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The way we work </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">commits the Group to transparency consistent with
normal commercial confidentiality, corporate accountability and the application of appropriate standards and internal controls. It sets the basis for how Group companies&#146; employees work and also provides guidance for joint venture partners and
others. Every employee is responsible for implementing the policies in the document.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has adopted the Association of British Insurers&#146; 2003 disclosure guidelines on social responsibility in preparing this report. Details of
the Group&#146;s overall and individual businesses&#146; social and environmental performance continue to be published on the Rio Tinto website: www.riotinto.com/se and in the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Sustainable development review.</FONT></I></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Board responsibilities</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The directors of Rio Tinto, and of Group companies, are responsible for monitoring adherence to the Group policies outlined in </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The way we work. </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Assurance for performance in these areas involves checking, reviewing and reporting each
business&#146;s implementation of the policies, their compliance with regulations and voluntary commitments, and the effectiveness of management and control systems, while also providing mechanisms for improvement.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As discussed in the section on Corporate governance on page 114, the boards established a process for identifying, evaluating and managing the
significant risks faced by the Group. Directors meet regularly, have regular scheduled discussions on aspects of the Group&#146;s strategy and full and timely access to the information required to discharge their responsibilities fully and
effectively.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Compliance guidance </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">requires that the identification of risk be systematic and ongoing. It recommends that each Group company undertakes a structured risk profiling exercise to identify, categorise and weigh the
risks it faces in the conduct of its business. Each Group company puts systems in place to ensure that risks are reviewed at an appropriate frequency.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total remuneration is related to performance through the use of annual bonuses, long term incentives and stretching targets for personal, financial and
safety performance.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The board&#146;s </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Committee on social and environmental accountability
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reviews the effectiveness of policies and procedures. The committee comprises four non executive directors. It meets three times annually with the chief executive and heads
of Technology, Health, Safety and Environment and Communication and Sustainable Development.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reports for the committee summarise significant matters identified through Rio Tinto&#146;s assurance activities. These include reviews every four years
of each business to identify and manage strategic risks in relation to health, safety, and the environment; audits against Rio Tinto standards; annual risk management audits; risk reviews for specific concerns; procedures and systems for reporting
critical and significant issues and incidents; completion of annual internal control questionnaires by all Group business leaders covering the full spectrum of business and operational risk; and findings and recommendations of the independent
external assurance and data verification programme.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Policies, programmes and results</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Implementation of the policies in </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The way we work </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">is discussed in the following sections according to each policy area. Known risks arising from social and environmental matters and their management in Group businesses are described in the
relevant Group operations section.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Safety</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Safety is a core value and a major priority. Rio Tinto believes that all injuries are preventable and its goal is zero injuries. To achieve this, full and consistent implementation of
and accountability for Rio Tinto&#146;s comprehensive standards, guidance, systems and procedures is required across the world. The Group is also building a supportive safety culture that requires visible leadership, ongoing education and training
and a high level of participation by everyone in the workplace.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">While the safety record improved for the sixth consecutive year in 2005, there is still some way to go in achieving the goal of zero injuries. In 2005,
very regrettably two employees lost their lives at managed operations. The Group has demonstrated strong improvements in the lost time injury frequency rate (LTIFR) and all injury frequency rate (AIFR) from 2004, with reductions of 14 per cent and
11 per cent respectively. The LTIFR for 2005 was 0.56 per 200,000 hours worked by employees and contracted employees (2004: 0.65) . Rio Tinto set targets in 2003 for a 50 per cent reduction in LTIFR and AIFR by 2008. The LTIFR is on track, while
AIFR is slightly behind.</FONT></P>
<P>&nbsp;</P>
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    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">77</font></b></td>
  </tr>
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<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fines for infringement of safety regulations involved 11 operations, totalling US&#36;87,600 (2004: US&#36;19,200). This includes a fine of US&#36;62,942
for an incident at Energy Resources of Australia&#146;s Ranger mine in 2004, resulting in a significant injury requiring hospitalisation.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Occupational health</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto strives to protect physical health and well being in the workplace. This requires clear standards, consistent implementation, transfer of best practice and improvement
through Group wide reporting and tracking of remedial actions.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Seventy six per cent of employees work at operations that have fully implemented the occupational health standards. Of the remaining 11 businesses, ten
have applied a risk based approach to implementation and should complete implementation in 2006. In 2005 there were 54 new cases of occupational illness per 10,000 employees, a 26 per cent improvement compared with 73 in 2004. The Group has achieved
a 49 per cent reduction in new cases of occupational illness since 2003, approximately 40 per cent of which has been due to the divestment of Rio Tinto Zimbabwe.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s southern African operations completed implementation of the Group HIV/AIDS strategy in 2005, which provides access to antiretroviral
therapy which is affordable for employees and a nominated partner. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2004, Rio Tinto set targets to focus attention on reducing noise induced hearing loss across the Group. The target of zero exposure of employees to a
noise dose of more than 82 decibels (averaged over eight hours and allowing for the use of hearing protection) has now been met, with less than 0.1 per cent of employees still exposed to noise greater than this limit.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fines for infringement of occupational health regulations in 2005 involved two operations, totalling US&#36;58,100 (2004: US&#36;257,000). This includes
a fine of US&#36;57,204 for an incident at Energy Resources of Australia&#146;s Ranger mine in 2004 relating to drinking water contamination.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Environment</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Wherever possible Rio Tinto prevents, or otherwise minimises, mitigates and remediates, harmful effects of the Group&#146;s operations on the environment.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To do this, the Group seeks to understand the environmental aspects and impacts of what it does, build what is learned into systems to manage and
minimise those impacts, and set targets for improvement.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto believes that emissions of greenhouse gases (GHGs) from human activities are contributing to climate change. As a major producer and user of
energy products, the Group is working to reduce greenhouse gas emissions from its processes and in the use of its products. The Group has five year targets to reduce GHG emissions by four per cent per tonne of product and improve energy efficiency
by five per cent per tonne of product by 2008 compared to a 2003 baseline.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Performance in 2005 against the energy target is ahead of trajectory (2.7 per cent improvement), while performance against the GHG target is slightly
behind (0.9 per cent reduction). Positive engagement with governments and stakeholders who are also trying to find solutions to climate change remains an important focus of the Group. In 2005 a Climate Change Leadership Panel was formed to ensure
Group actions remain effective and that Rio Tinto maintains a leading position in this area.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By the end of 2005, 90 per cent of operations had certified ISO 14001 or an equivalent environmental management system (EMS). All Rio Tinto operations
were required to have had a certified EMS by the end of June 2005. There were eight significant environmental incidents in 2005, of which two were spills, compared to 16 in 2004, of which four were spills. Fines for infringements of environmental
regulations involved three operations and totalled US&#36;67,900 (2004: US&#36;53,800). This includes a fine of US&#36;57,204 for an incident in 2004 at Energy Resources of Australia&#146;s Ranger mine relating to a breach of radiation clearance
procedures for equipment leaving site.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Land access</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto seeks to ensure the widest possible support for its proposals throughout the life cycle of the Group&#146;s activities by coordinating economic, technical, environmental and
social factors in an integrated process.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This involves negotiation of mining access agreements with indigenous landowners; responsible land management and rehabilitation; planning for closure;
developing and implementing a biodiversity strategy; and forming strategic partnerships with external organisations.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Political involvement</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto does not directly or indirectly participate in party politics nor make payments to political parties or individual politicians.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Business integrity guidance, </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">addressing bribery, corruption and political involvement, was issued in 2003 to assist managers in implementing this policy. The guidance covers questions relating to compliance and
implementation; gifts and entertainment; the use of agents and intermediaries; and &#147;facilitation&#148; payments.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto avoids making facilitation payments anywhere in the world. Bribery in any form is prohibited. Gifts and entertainment are only offered or
accepted for conventional social and business purposes and then only at a level appropriate to the circumstances.</FONT></P>
<P>&nbsp;</P>
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        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">78</font></b></td>
  </tr>
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<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Communities</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto sets out to build enduring relationships with its neighbours that are characterised by mutual respect, active partnership, and long term commitment.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Every business unit is required to have rolling five year community plans which are updated annually. In 2004, a series of pilot studies were completed
aimed at achieving a deeper level of understanding of the linkages between mining activities and the economies in which they take place.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">All Group businesses produce their own reports for their local communities and other audiences. Community assurance of the quality and content of these
reports is increasing. This provides an opportunity for engagement with the community on their views of programmes sponsored by the operations.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Businesses managed by Rio Tinto contributed US&#36;93.4 million to community programmes in 2005 (2004: US&#36;87.8 million) calculated on the basis of
the London Benchmarking Group model. Of the total contributions, US&#36;37.3 million was community investment and US&#36;29 million in direct payments made under legislation or an agreement with a local community.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Human rights</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto supports human rights consistent with the Universal Declaration of Human Rights and also respects those rights in conducting the Group&#146;s operations throughout the
world.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto also supports the UN Secretary General&#146;s Global Compact, the US/UK Voluntary Principles on Security and Human Rights and the Global
Sullivan Principles.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Human rights guidance </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">is designed to assist managers in implementing the Group&#146;s human rights policy in complex local situations. It was revised and republished in 2003. In 2004, a web based training module was
developed to instruct managers on what the policy means in practice and how to respond to difficult situations.</FONT></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Employment</FONT></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto
  recognises that business performance is closely linked to effective people development.
  It has a long term plan to strengthen approaches to the training and development
  of leaders in the Group.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
  2004, a suite of formal leadership programmes was developed and implemented
  for both strategic and Group business leaders. In total, ten customised leadership
  development programmes, involving 250 participants, were successfully run in
  2005 in partnership with leading business schools in Europe, North America and
  Australia. All product groups and businesses were represented.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
  well as using the open programmes run by the London Business School and International
  Institute for Management </FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Development for future leaders, Rio Tinto commissioned
  the design of a customised, operational leadership programme which was launched
  in 2005 with eight programmes involving about 240 further participants from
  across the Group at manager and superintendent level.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">These
  programmes are all focused on ensuring that leaders, at all levels, are well
  prepared for the wide range of current and future challenges they will face
  in taking forward a complex and commercially successful organisation. All of
  these programmes are closely integrated with the core leadership competencies
  Rio Tinto has identified as necessary for effective leaders wherever they work
  in the organisation.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Groupwide
  workshops to improve the capability of those involved in managing careers were
  organised in 2005.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
  People development in Rio Tinto is focused on improving technical and professional
  competencies. In 2005, development of core competencies focused on on-the-job
  development, coaching, mentoring and competency based recruitment.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
  Tinto requires safe and effective working relationships in all its operations.
  Whilst respecting different cultures, traditions and employment practices, common
  goals are shared, in particular the elimination of workplace injuries, and commitment
  to good corporate values and ethical behaviour.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
  2004 and 2005, Group companies, mainly concentrated in Australia and North America,
  employed approximately 28,000 people and, together with Rio Tinto&#146;s proportionate
  share of consolidated companies and equity accounted units, the total was approximately
  32,000 (2004: 32,000). Wages and salaries paid in 2005 excluding Rio Tinto&#146;s
  proportionate share of consolidated companies and equity accounted units, totalled
  US&#36;2.1 billion (2004: US&#36;1.8 billion).</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Retirement
  payments and benefits to dependants are provided in accordance with local conditions
  and good practice.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
  Tinto encourages the involvement of its employees in the Group&#146;s performance
  through their participation in an employee share scheme. As stated in </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The
  way we work, </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
  Group recognises the right of employees to choose whether or not they wish to
  be represented collectively.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sustainable development</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has made a strategic commitment to sustainable development, in the belief that acting responsibly will result in long term business benefits such as lowering risks, reducing
costs, creating options, and leveraging reputation. It is corporate policy that Group businesses, projects, operations and products should contribute constructively to the global transition to sustainable development. Details of our policy,
programmes and results are provided in our </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Sustainable development review</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">, available on
the website.</FONT></P>
<P>&nbsp;</P>
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        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">79</font></b></td>
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<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
  Rio Tinto managed businesses have developed, or are in the process of developing,
  locally relevant sustainable development metrics. The intent is that these are
  derived in accordance with specific circumstances and sustainable development
  related priorities, through consultation with local stakeholders.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Progress
  against these metrics is beginning to be integrated into existing internal business
  reporting systems and communicated to external audiences annually through local
  </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Social
  and environment reports. </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This
  approach has the advantage of giving local meaning to the Group&#146;s global
  sustainable development efforts and accordingly is more likely to lead to locally
  relevant and successful outcomes at the business unit level.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A
  Sustainable Development Leadership Panel (SDLP) was formed in 2004 to provide
  Group leadership and encourage businesses to make sustainable development considerations
  an integral part of business plans and decision making processes. After wide
  internal and external consultation, in 2005 the panel developed a set of decision
  making criteria to help Rio Tinto businesses and departments incorporate sustainable
  development considerations into their formal and informal management systems.
  At the corporate level the criteria were included in project evaluation guidelines.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
  a founding member of the International Council on Mining and Metals, Rio Tinto
  is participating in dialogue and programmes to advance industry wide progress
  on key sustainable development priorities.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Openness and accountability
</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
  Tinto conducts the Group&#146;s affairs in an accountable and transparent manner, reflecting the interests of Rio Tinto shareholders, employees, host communities and customers as
  well as others affected by the Group&#146;s activities.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Policies on transparency, business integrity, corporate governance and internal controls and reporting procedures are outlined in </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The way we work. </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2003, a </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Compliance guidance </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">was issued to provide a framework to enable each Group business to implement and maintain a best practice compliance programme which
should identify and manage risks associated with non compliance with laws, regulations, codes, standards and Rio Tinto policies.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Assurance and verification</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To
  be accountable and transparent, assurance is provided to the Group and others
  that Rio Tinto policies are being implemented fully and consistently across the
  Group&#146;s
  businesses and operations.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The overall objective of the external assurance and data verification programme is to provide assurance that the material in the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Sustainable development review </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">is relevant, complete, accurate and responsive, and, in particular, that Rio
Tinto&#146;s policies and programmes are reflected in implementation activities at operations. In 2005, Environmental Resources Management (ERM) undertook the external assurance and data verification programme and the results are available in Rio
Tinto&#146;s </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Sustainable development review </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(previously the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Social and environment review).</FONT></I></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Competition</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has adopted a specific antitrust policy requiring all employees to compete fairly and to comply with relevant laws and regulations. Under the policy, guidance is provided on
  contacts with competitors and benchmarking as well as implementation of the policy in individual businesses. As integral parts of the policy, all relevant employees receive regular training and are required to certify annually that they are not
  aware of any antitrust violations. No violations were reported in 2005.</FONT></P>
<p>&nbsp;</p>
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        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">80</FONT></b></td>
  </tr>
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<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item
      6.</font></b></td>
    <td><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      Directors, Senior Management and Employees</FONT></B></td>
  </tr>
</table>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CHAIRMAN</FONT></B></p>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Paul Skinner </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BA (Hons) (Law), DpBA (Business Administration) age 61<br>
</FONT><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 2001 and was appointed chairman of the Group in November 2003. Paul was last re-elected by shareholders in 2005 and is chairman
of the Nominations committee (note b).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul
  graduated in law from Cambridge University and in business administration from
  Manchester Business School. He was previously a managing director of The &#147;Shell&#148;
  Transport and Trading Company plc and group managing director of The Royal Dutch/Shell Group of Companies, for whom he had worked since 1966. During his career he worked in all Shell&#146;s
  main businesses, including senior appointments in the UK, Greece, Nigeria,
  New Zealand and Norway. He was CEO of its global Oil Products business from
  1999
to 2003.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
of Standard Chartered plc since 2003.<br>
Director of the Tetra Laval Group since
2005.<br>
Director of Air Liquide since May 2006.<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman
of the International Chamber of Commerce (UK) since 2005.<br>
Member of the board
of INSEAD business school since 1999.<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
of the Defence Management Board of the Ministry of Defence since June 2006.<br>
Director
of The &#145;Shell&#146; Transport and Trading Company plc from 2000 to 2003.</FONT></P>

<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CHIEF
  EXECUTIVE</FONT></B></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Leigh
  Clifford </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B
  Eng (Mining), M Eng Sci age 58<br>
  </FONT><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment
  and election<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Rio Tinto plc since 1994 and Rio Tinto Limited since 1995 and was appointed
  chief executive in 2000. Leigh was last re-elected by shareholders in 2006.</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
  graduated from the University of Melbourne as a mining engineer and gained a
  Master of Engineering Science from the same University. He has held various
  roles in the Group&#146;s coal and metalliferous operations since joining in
  1970, including managing director of Rio Tinto Limited and chief executive of
  the Energy group. He was a member of the Coal Industry Advisory Board of the
  International Energy Agency for a number of years and its chairman from 1998
  to 2000.</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments (current and recent)<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  Barclays Bank plc since 2004.<br>
  </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Freeport-McMoRan Copper &amp; Gold Inc between 2000 and 2004.</FONT></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXECUTIVE
  DIRECTORS</FONT></B></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Tom
  Albanese </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BS
  (Mineral Economics) MS (Mining Engineering) age 48 </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment
  and election<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Rio Tinto plc and Rio Tinto Limited since 7 March 2006. Tom was elected by
  the shareholders in 2006.</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
  will continue as chief executive of the Copper group and head of Exploration
  until 1 July 2006 when he will be appointed director, Group Resources. He joined
  Rio Tinto in 1993 on Rio Tinto&#146;s acquisition of Nerco and has held a series
  of management positions before being appointed chief executive of the Industrial
  Minerals group in 2000. </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments (current and recent)<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Palabora Mining Company (South Africa listed company) from 2004 to present.<br>
  Executive Committee of International Copper Association since 2004.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Guy Elliott </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MA (Oxon) MBA (INSEAD) age 50</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Finance director of Rio Tinto plc and Rio Tinto Limited since 2002. Guy was last re-elected by shareholders in 2004.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy joined the Group in 1980 after gaining an MBA. He has subsequently held a variety of commercial and management positions, including head of Business Evaluation and president of
Rio Tinto Brasil.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">None.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">81</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<a name="p82"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">NON EXECUTIVE DIRECTORS</FONT></B><BR>
</font>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dr Ashton Calvert </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">AC, BSc (Hons) (TAS), DPhil (Oxon), Hon DSc (Tas) age 60</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 1 February 2005. Ashton was elected by shareholders in 2005 (notes b, d and e). </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ashton retired as secretary of the Department of Foreign Affairs and Trade of the Government of Australia in January 2005 after six and a half years in that position. He was educated
at the University of Tasmania and, as a Rhodes scholar, also gained a doctorate in mathematics from Oxford University. During his career in the Australian foreign service he held appointments in Washington and, on four occasions, in Tokyo, where he
was ambassador prior to his appointment as secretary. In these and other roles he developed extensive experience of the Asian countries which represent key markets for Rio Tinto.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
of Woodside Petroleum Limited since 2005.<br>
Director of The Australian Trade Commission
between 1998 and 2005.<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
of The Export Finance and Insurance Corporation between 1998 and 2005.<br>
Director
of The Australian Strategic Policy Institute between 2001 and 2005 .</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sir David Clementi </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MA, MBA, FCA age 57 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 2003. Sir David was re-elected by the shareholders in 2006 (notes a, c and e).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir David is chairman of Prudential plc, prior to which he was Deputy Governor of the Bank of England. His earlier career was with Kleinwort Benson where he spent 22 years, holding
various positions including chief executive and vice chairman. A graduate of Oxford University and a qualified chartered accountant, Sir David also holds an MBA from Harvard Business School.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman of Prudential plc since 2002.<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Member of the Financial Reporting Council since 2003.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vivienne Cox </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MA (Oxon), MBA (INSEAD) age 46</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since February 2005. Vivienne was elected by shareholders in 2005 (notes a and e).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vivienne
is currently executive vice president of BP p.l.c. for Gas Power &amp; Renewables and Integrated Supply &amp; Trading. She is a member of the BP group chief executive&#146;s
committee. She holds degrees in chemistry from Oxford University and in business
administration from INSEAD. During her career in BP she has worked in chemicals,
exploration, finance, and refining and marketing.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Non Executive Director of Eurotunnel plc between 2001 and 2004.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sir Rod Eddington </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B.Eng M.Eng (University of Western Australia), D.Phil (Oxon) age 55 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 2005. Sir Rod was elected by the shareholders in 2006 (notes b, d and e).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir Rod was chief executive of British Airways Plc until the end of September 2005. Prior to his role with British Airways, Sir Rod was Managing Director of Cathay Pacific Airways
from 1992-1996 and Executive Chairman of Ansett Airlines from 1997-2000. He is also Chairman of the EU/Hong Kong Business Co-operation Committee of the Hong Kong Trade Development Council. </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
of John Swire &amp; Son Pty Limited since 1997.<br>
Director of News Corporation
plc since 1999.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Non executive
chairman of JPMorgan Australia and New Zealand since January 2006.<br>
Director of
CLP Holdings since January 2006.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Record Investments Limited since June 2006.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">82</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p83"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Michael Fitzpatrick </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B.Eng (University of Western Australia), BA (Oxon)) age 53 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Appointed as a director of Rio Tinto plc and Rio Tinto Limited on 6 June 2006 and will stand for election by the shareholders at the 2007 annual general meetings. </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Michael was the Managing Director of Hastings Fund Management, the pioneering infrastructure asset management company, which he founded in 1994 and in which he has recently sold his
interests and ceased to be a director. Prior to this role he was an executive director of CS First Boston Australia Limited.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman of
Treasury Group Limited since November 2005 (director since 2004).<br>
Chairman
of the Victoria Funds Management Corporation.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Managing director
of Hastings Funds Management between 1994 and 2006.<br>
Director of Pacific Hydro Limited
between 1996 and 2004.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
of The Walter &amp; Eliza Hall Institute of Medical Research </FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Commissioner of the Australian Football League and a former chairman of the Australian Sports Commission.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Richard Goodmanson </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MBA (Columbia University), B. Economics, B. Commerce (University of
Queensland), B. Eng. &#150; Civil (Royal Military College, Duntroon) age 58 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 2004. He was elected by shareholders in 2005 and is chairman of the Committee on social and environmental accountability (notes
c, d and e) </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richard
is executive vice president and chief operating officer of DuPont and holds degrees
in civil engineering, economics, commerce and a masters of business administration.
During
his career he has worked at senior levels for McKinsey &amp; Co, PepsiCo and
American West Airlines, where he was president and CEO. He joined DuPont in early
1999 and in his current position has responsibility for a number of the global
functions, and for the non US operations of DuPont with particular focus on growth
in emerging markets. </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman of
the United Way of Delaware since January 2006 (director since 2002).<br>
Director
of the Boise Cascade Corporation between 2000 and 2004.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Andrew Gould </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BA FCA age 59 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 2002. Andrew was re-elected by the shareholders in 2006. He is also chairman of the Audit committee (notes a, c and e).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
is chairman and chief executive officer of Schlumberger Limited, where he has
held a succession of financial and operational management positions, including
that of executive vice president of Schlumberger Oilfield Services and president
and chief operating officer of Schlumberger Limited. He has worked in Asia, Europe
and the US. He joined Schlumberger in 1975. He holds a degree in economic history
from Cardiff
University and qualified as a chartered accountant with Ernst &amp; Young.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman
and Chief Executive Officer of Schlumberger Limited since 2003.<br>
Member of the
UK Prime Minister&#146;s Council of Science and Technology.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Lord Kerr of Kinlochard </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">GCMG MA age 64 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 2003. He was elected by shareholders in 2004 (notes a, d and e).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">After reading history at Oxford Lord Kerr was a member of the UK Diplomatic Service for 36 years, heading the Service from 1997 to 2002 as Permanent Under Secretary at the Foreign
Office. On a secondment to the UK Treasury he was principal private secretary to two Chancellors of the Exchequer. His service abroad included spells as Ambassador to the European Union from 1990 to 1995, and to the US from 1995 to 1997.
Secretary-General, EU Constitutional Convention 2002-3. Member of the House of Lords since 2004.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Deputy Chairman of Royal Dutch Shell plc since 2005.<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
of The &#147;Shell&#148; Transport and Trading Company plc 2002 &#150; 2005.<br>
Director
of The Scottish American Investment Trust plc since 2002.<br>
Chairman of the Court
and Council of Imperial College, London since 2005.<br>
Trustee of the
Rhodes Trust since 1997. Fulbright Commissioner since 2004.<br>
Trustee of the National
Gallery since 2002; Trustee of the Carnegie Trust since 2005.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">83</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p84"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">David Mayhew </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">age 65 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 2000. He was last re-elected by the shareholders in 2006 (note b).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
joined Cazenove in 1969 from Panmure Gordon. In 1972 he became the firm&#146;s dealing partner and was subsequently responsible for the Institutional Broking Department and from
1986 until 2001when he was appointed Chairman, he was the partner in charge of the firm&#146;s
Capital Markets Department.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman of Cazenove Group plc since 2001.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sir Richard Sykes </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BSc (Microbiology) PhD (Microbial Biochemistry), DSc, Kt, FRS, FMedSci age 63
</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Rio Tinto plc and Rio Tinto Limited since 1997. Sir Richard was appointed the senior non executive director in 2005. He was last re-elected by shareholders in 2004 and is
Chairman of the Remuneration committee (notes b, c and e).</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">After reading microbiology at the University of London, Sir Richard obtained doctorates in microbial chemistry and in science from the University of Bristol and the University of
London respectively. A former chairman of GlaxoSmithKline plc Sir Richard is a Fellow of the Royal Society.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (current and recent)</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Lonza Group Limited since 2003, Deputy Chairman since 2005. <br>
Chairman of the Healthcare Advisory Group (Apax Partners Limited) since 2002.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman of
Metabometrix Limited since 2004. Director of Merlion Pharmaceuticals Pte Limited
since 2005.<br>
Director of Abraxis BioScience since 2005.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman of
Medeus (later Zeneus) Holdings Limited between 2004 and 2005.<br>
Chairman of GlaxoSmithKline
plc between 2000 and 2002.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rector of Imperial College, London since 2001.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Trustee of the Natural History Museum, London between 1996 and 2005 and of the Royal Botanic Gardens, Kew between 2003 and 2005.</FONT></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DIRECTORS
  WHO LEFT THE GROUP DURING 2005</FONT></B></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Robert
  Adams </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BSc
  MSc</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment
  and election<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Rio Tinto plc in 1991 and of Rio Tinto Limited in 1995 until 2005 </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience</FONT></I></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bob, who died
  at home in January 2005, joined the Group in 1970 after reading natural sciences
  and economics and subsequently gaining an MSc from the London Business School.
  He had a long distinguished career with Rio Tinto becoming the director with
  responsibility for planning and development.</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments</FONT></I></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of
  Foreign &amp; Colonial Investment Trust plc from 1999 until his death in 2005.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Leon Davis </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">AO, ASAIT, DSc (hc) Curtin University, University of Queensland, University South
Australia, FAIMM, FRACI.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment and election<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director Rio Tinto plc since 1991 and of Rio Tinto Limited since 1994 until 2005. </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience</FONT></I></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leon,
who retired at the conclusion of the 2005 annual general meetings, was the Group&#146;s
Australia based non executive deputy chairman. He is a metallurgist and during
nearly 50 years with the Group he held a number of managerial posts around the
world, ultimately as chief executive from 1997 to 2000.</FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (upon leaving the Group)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman
of Westpac Banking Corporation since 2000.<br>
Director of Huysmans Pty Limited since
2000. Director of Trouin Pty Limited since 2000.</FONT><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">President of
the board of The Walter and Eliza Hall Institute of Medical Research since 2003.<br>
Director
of Codan Pty. Limited between 2000 and 2004.</FONT></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sir
  Richard Giordano </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">LLB,
  hon. Dr of Law.</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment
  and election</FONT></I></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of
  Rio Tinto plc since 1991 and Rio Tinto Limited since 1995 until 2005 </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience</FONT></I></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir Richard,
  who retired at the conclusion of the 2005 annual general meetings, was the
  senior
  non executive director, a deputy chairman and also chairman of the Audit committee.
  A lawyer by training, he spent 12 years at BOC Group, first as chief executive,
  then chairman. In 1993, Sir Richard became a director of British Gas, assuming
  the role of chairman in 1994. Sir Richard is also a former chairman of BG Group
  plc.<br>
</FONT><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"></font></i></b></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">84</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">
<page><a name="p85"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<P><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other external appointments (upon leaving the Group)<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director of Georgia Pacific Corporation since 1985 Trustee of Carnegie Endowment for International Peace since 2000.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">John
  Morschel </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Diploma
  in Quantity Surveying)</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Appointment
  and election<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Rio Tinto between 1998 and 2005.<br>
  </FONT><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experienc<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">John,
  who retired at the conclusion of the 2005 annual general meetings, was educated
  in Australia and the US, where he spent most of his career with Lend Lease Corporation
  Limited in Australia, culminating as managing director. This was followed by
  two years as an executive director of the Westpac Banking Corporation<br>
  </FONT><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments (upon leaving the Group)<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman
  of Rinker Group Limited since April 2003.<br>
  Director of ANZ Banking Group since October 2004.<br>
  Director of Singapore Telecommunications Limited from September 2001.<br>
  </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman
  of CSR Limited between May 2001 and April 2003.<br>
  </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman
  of Leighton Holdings Limited between November 2001 and March 2004.</FONT></P>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width="3%" align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</FONT></TD>
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">Audit
      committee</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left></TD>
    <TD align=left><FONT size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Sir
      David Clementi, Vivienne Cox, Andrew Gould and Lord Kerr of Kinlochard)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</FONT></TD>
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">Nominations
      committee</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left></TD>
    <TD align=left><FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Paul
      Skinner, Ashton Calvert, Sir Rod Eddington, David Mayhew and Sir Richard
      Sykes)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT></TD>
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remuneration
      committee</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left></TD>
    <TD align=left><FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Sir
      David Clementi, Richard Goodmanson, Andrew Gould and Sir Richard Sykes)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</FONT></TD>
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">Committee
      on social and environmental accountability</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left></TD>
    <TD align=left><FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Ashton
      Calvert, Sir Rod Eddington, Richard Goodmanson and Lord Kerr of Kinlochard)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</FONT></TD>
    <TD align=left> <FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">Independent</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left></TD>
    <TD align=left><FONT size="1"  face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Ashton
      Calvert, Sir David Clementi, Vivienne Cox, Sir Rod Eddington, Richard Goodmanson,
      Andrew Gould, Lord Kerr of Kinlochard, Sir Richard Sykes)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="1">&nbsp;</font></TD>
    <TD align=left><font size="1">&nbsp;</font></TD>
  </TR>
</TABLE>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PRODUCT
  GROUP CHIEF EXECUTIVES</FONT></B></P>
<p> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Preston
  Chiaro </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BSc
  (Hons) Environmental Engineering, MEng Environmental Engineering), age 52 </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston
  was appointed chief executive of the Energy group in September 2003. He heads
  the Group&#146;s climate change and sustainable development leadership panels.
  He joined the Group in 1991 at Kennecott Utah Copper&#146;s Bingham Canyon mine
  as vice president, technical services. In 1995 he became vice president and
  general manager of Boron operations in California. He was chief executive of
  Rio Tinto Borax from 1999 to 2003.<br>
  </FONT><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments (current and recent)<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of the World Coal Institute since 2003.<br>
  Chairman of the Coal Industry Advisory Board to the International Energy Agency
  since 2004.<br>
  </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Energy Resources of Australia, since 2003.<br>
  Director of R&ouml;ssing Uranium Limited since 2003.<br>
  Director of Coal &amp; Allied Industries Limited since 2003.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Oscar
  Groeneveld </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BE
  (Mining), MSc, DIC age 52 </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
  has been with the Group for 30 years and was appointed chief executive of the
  Aluminium group in October 2004. He has qualifications in engineering, science
  and management and is also responsible for Rio Tinto Japan, Kennecott Land and
  heads the Group&#146;s Safety Leadership Panel. He has occupied senior roles
  in coal, aluminium and technology and was Copper group chief executive from
  1999 to 2004. He was an executive director of the Group from 1998 to 2004.<br>
  </FONT><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments (current and recent)<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian
  Aluminium Council since 2004 . International Aluminium Association since 2004.<br>
  Director of Rio Tinto plc between 1998 and 2004.<br>
  Director of Rio Tinto Limited between 1998 and 2004.<br>
  Director of Freeport-McMoRan Copper &amp; Gold Inc between 1999 and 2004.<br>
  </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Palabora Mining Company Limited between 1999 and 2004.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Keith Johnson </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BSc (mathematics), MBA age 44 </FONT><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills and experience<br>
</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith was appointed chief executive, Diamonds in 2003. He holds degrees in mathematics and management and is a Fellow of the Royal Statistical Society. Prior to joining Rio Tinto he
  worked in analytical roles in the UK Treasury, private consulting and the oil industry. He joined Rio Tinto in 1991 and has held a series of management positions including head of Business Evaluation and most recently as managing director of Comalco
Mining and Refining.</FONT></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">85</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p86"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Andrew
  Mackenzie </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BSc
  (geology), PhD (chemistry) age 49 </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
  joined Rio Tinto in 2004 as chief executive Industrial Minerals, previously
  he had been group vice president, BP Petrochemicals. He spent 22 years with
  BP primarily in the UK and North America in senior positions including head
  of Capital Markets in BP Finance, chief reservoir engineer with oversight of
  oil and gas reserves and production, head of Government and Public Affairs worldwide
  and group vice president Technology which included responsibility for research
  and development and engineering.<br>
  </FONT><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments (current and recent)<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of Centrica plc since 2005.<br>
  Trustee of Demos since 1998.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sam
  Walsh </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B
  Com (Melbourne) age 56 </FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Skills
  and experience<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
  was appointed chief executive of the Iron Ore group in 2004. He joined Rio Tinto
  in 1991, following 20 years in the automotive industry at General Motors and
  Nissan Australia. He has held a number of management positions within the Group,
  including managing director of Comalco Foundry Products, CRA Industrial Products,
  Hamersley Iron Sales and Marketing, Hamersley Iron Operations, vice president
  of Rio Tinto Iron Ore (with responsibility for Hamersley Iron and Robe River)
  and from 2001 to 2004 chief executive of the Aluminium group. Sam is also a
  Fellow of the Australian Institute of Management and the Australian Institute
  of Mining and Metallurgy.</FONT><br>
  <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other
  external appointments (current and recent)<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Director
  of the Western Australian Chamber of Commerce and Industry since 2005.<br>
  Director of the Australian Mines and Metals Association, between 2001 and 2005.<br>
  Director of the Australian Chamber of Commerce and Industry, between 2003 and
  2005.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
    accounting standards purposes (IAS 24 and AASB 124) the Group&#146;s key
    management personnel as defined, comprises the directors and the five product
group chief executives.</FONT></P>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COMPANY
  SECRETARIES</FONT></B></P>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Anette
  Lawless </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MA,
  FCIS age 49 </FONT><br>
  <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Skills
  and experience<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anette
  joined Rio Tinto in 1998 and became company secretary of Rio Tinto plc in 2000.
  Before joining Rio Tinto, she spent 11 years with Pearson plc, five of which
  as company secretary. She qualified as a chartered secretary in 1989 and became
  a fellow of the ICSA in 1992. She also holds an MA from the Copenhagen Business
  School.<br>
  </FONT><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Other
  external appointments (current and recent)<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Member
  of the Regulatory Decisions Committee of the UK Financial Services Authority
  since 2001.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Stephen Consedine </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B Bus CPA age 44<br>
</FONT><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Skills and experience: </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Stephen joined Rio Tinto in 1983 and has held various positions in
Accounting, Treasury, and Employee Services before becoming company secretary of Rio Tinto Limited in 2002. He holds a bachelor of business and is a certified practising accountant.</FONT></P>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EMPLOYEES</FONT></B></P>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Information
  on the Group&#146;s employees including their costs, is on page 76, and in Notes
  4 and 37 to the 2005 Financial statements.</FONT> </P>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">REMUNERATION</FONT></B></P>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Remuneration
  report to shareholders dated 24 February 2006 has been reproduced below, except
  that the page numbers have been revised to reflect those in this combined annual
  report on Form 20-F, Tables 3, 4 and 5 have been augmented to show share interests
  as at the latest practicable date and the references to auditable information
  have been deleted because they do not apply to this document.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
  Albanese was appointed as an executive director on 7 March 2006. He will continue
  as chief executive of the Copper group and head of Exploration until 1 July
  2006 when he will be appointed director, Group Resources.</FONT></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">86</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p87"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Remuneration
  report</FONT></B></P>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td colspan="2" valign="top"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Introduction</FONT></B><br>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The board
      of Rio Tinto has pleasure in presenting the Remuneration report to shareholders.
      The report covers the following information: a description of the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration committee
      </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      its duties;</FONT></td>
  </tr>
  <tr>
    <td width="3%" valign="top"><font size="2">&#8226;</font></td>
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a description
      of the policy on directors&#146;, product group chief executives&#146; and
      company secretaries&#146; remuneration;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a r&eacute;sum&eacute;
      of the terms of executive directors&#146; and product group chief executives&#146;
      contracts and non executive</font> <font size=2 face="TimesNewRomanPSMT,Times
New Roman,Times,serif">directors&#146; letters of appointment;</font></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">details
      of each director&#146;s and product group chief executive&#146;s remuneration
      and awards under long term</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">incentive plans and the link to corporate performance;</font></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">details
      of directors&#146; and product group chief executives&#146; interests in
      Rio Tinto shares; and</font></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">graphs
      illustrating Group performance, including relative to the HSBC Global Mining
      Companies&#146; Index.</font></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto is subject to a number of different reporting requirements for the
      contents of the Remuneration report. The Australian Corporations Act requires
      certain disclosures in respect of the five highest paid executives below
      board level, and Australian and International accounting standards (AASB
      124 and IAS 24 respectively) both require additional disclosures for &#147;key
      management personnel&#148;. The board has considered the definition of &#147;key
      management personnel&#148; and has decided that, in addition to the executive
      and non executive directors, they comprise the six product group chief executives.
      In the remainder of this report, the executive directors and the product
      group chief executives will collectively be referred to as the executives.</FONT></td>
  </tr>
</table>

<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td colspan="2" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Remuneration
      committee</FONT></B></td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        following independent, non executive directors were members of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
        committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">during
        2005:</FONT></P></td>
  </tr>
  <tr>
    <td width="3%" valign="top"><font size="2">&#8226;</font></td>
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Sykes (chairman)</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      David Clementi</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richard
      Goodmanson</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Gould</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">John
      Morschel (to 29 April 2005)</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>


<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td colspan="2" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      committee met four times during 2005. Members&#146; attendance is set out
      on page 114. The committee&#146;s responsibilities are set out in its Terms
      of Reference which can be viewed on Rio Tinto&#146;s website. They include:</FONT></td>
  </tr>
  <tr>
    <td width="3%" valign="top"><font size="2">&#8226;</font></td>
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">recommending
      remuneration policy relating to the executives to the board;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reviewing
      and determining the remuneration of the executives and the company secretary
      of Rio Tinto plc;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reviewing
      and agreeing management&#146;s strategy for remuneration and conditions
      of employment for managers</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">other than the executives;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">monitoring
      the effectiveness and appropriateness of general executive remuneration
      policy and practice; and</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">recommending
      any changes to the chairman&#146;s fees.</FONT></td>
  </tr>
</table>
    <P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Jeffery Kortum, Group adviser, remuneration, attends the committee&#146;s meetings in an advisory capacity. The chairman, Paul Skinner, and the chief executive, Leigh Clifford, also
  participated in meetings at the invitation of the committee, but were not present when issues relating to their own remuneration were discussed. Anette Lawless, the company secretary of Rio Tinto plc, acts as secretary to the committee, but is not
  present when issues relating to her remuneration are discussed.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2004, the committee appointed Kepler Associates, an independent remuneration consultancy, to provide advice on executive remuneration matters. Apart
from providing specialist remuneration advice, Kepler Associates has no links to the Group.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To carry out its duties in accordance with its Terms of Reference, the committee monitors global remuneration trends and developments and draws on a
range of external sources of data, including publications by remuneration consultants Towers Perrin, Hay Group and Watson Wyatt.</FONT></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Corporate
  governance</FONT></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The committee
  reviewed its Terms of Reference in 2005 and concluded that, in the course of
  its business, it had covered the main duties set out in the Combined Code, published
  by the UK Financial Reporting Council, and Principle 9 of the ASX Best Practice
  Corporate Governance Guidelines, and was constituted in accordance with the
  requirements of the Code and the ASX Best Practice Corporate Governance Guidelines.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  board considered the performance of the committee and confirmed that the committee
  had satisfactorily performed the duties set out in its Terms of Reference.<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  2004 Remuneration report was approved by shareholders at the 2005 annual general
  meetings.</FONT></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">87</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p88"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>




<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td colspan="2" valign="top"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive
      remuneration</FONT></B></td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Board
      policy</FONT></I></B></td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto operates in a global market, where it competes for a limited resource
      of talented, internationally mobile executives. It recognises that to achieve
      its business objectives, the Group needs high quality, committed people.</FONT></td>
  </tr>
  <tr>
    <td colspan="2" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto has, therefore, designed an executive remuneration policy to support
      its business goals by enabling it to attract, retain and appropriately reward
      executives of the calibre necessary to produce very high levels of performance.
      The main principles of the Group&#146;s executive remuneration policy are:
      </FONT></td>
  </tr>
  <tr>
    <td width="3%" valign="top"><font size="2">&#8226;</font></td>
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to provide
      total remuneration which is competitive in structure and quantum with comparator
      companies&#146;</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">practices in the regions and markets within which the Group
      operates;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      achieve clear alignment between total remuneration and delivered business
      and personal performance, with</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">particular emphasis on shareholder value creation;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      link variable elements of remuneration to the achievement of challenging
      performance criteria that are</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">consistent with the best interests of the Group and shareholders
      over the short, medium and long term;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      provide an appropriate balance of fixed and variable remuneration; and</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      provide appropriate relativities between executives globally, in order to
      support executive placements to meet</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">the needs of the Group.</FONT></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>


<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td colspan="2" valign="top"><P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        composition of total remuneration packages for senior management, including
        the remuneration of the company secretaries, is designed to provide an
        appropriate balance between the fixed and variable components. This is
        in line with Rio Tinto&#146;s stated objective of aligning total remuneration
        with personal and business performance. Details of executives&#146; remuneration
        composition are set out in Table 1 on pages 98 to 100.<br>
        </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Executive
        remuneration is explicitly related to business performance through:</FONT></P></td>
  </tr>
  <tr>
    <td width="3%" valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      Short Term Incentive Plan, which is based on assessment of personal performance
      as well as Group and</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">relevant product group underlying earnings and safety targets
      established by the</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
      committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">each
      year;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      Share Option Plan and Mining Companies Comparative Plan, which link vesting
      of options or shares to Rio</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">Tinto total shareholder return performance relative to that
      of other nominated comparator companies.</FONT></td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      Group&#146;s return to shareholders over the last five years is set out
      in the table on page 93.</FONT></td>
  </tr>
</table>


  <P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Remuneration components </FONT></B><br>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Base salary</FONT></I></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Base salaries for executives are reviewed annually, taking into account the nature of the individual executive&#146;s role, external market trends and business and personal
  performance. The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">uses a range of international companies of a
  similar size, global reach and complexity to make this comparison.</FONT></P>

<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td colspan="2" valign="top"><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Short
      term incentive plan (STIP)</FONT></I></B></td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">STIP
      provides an annual cash bonus opportunity for participants and is designed
      to support overall remuneration policy by: </FONT></td>
  </tr>
  <tr>
    <td width="3%" valign="top"><font size="2">&#8226;</font></td>
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">focusing
      participants on achieving goals which contribute to sustainable shareholder
      value; and</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">providing
      significant bonus differential based on performance against challenging
      personal, business, and other</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">targets, including safety.</FONT></td>
  </tr>
</table>


<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
  committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">reviews and approves performance targets and objectives for
  executives annually. Executive directors&#146; STIP payments are linked to three
  performance criteria: Group financial performance, Group safety performance
  and personal performance. Product group chief executives&#146; STIP payments
  are linked to Group and product group financial performance, product group safety
  performance and personal performance. Group and product group financial performance
  is partly measured on an actual underlying earnings basis and partly on a basis
  normalised for fluctuations of market prices and exchange rates.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  target level of bonus for executives for 2006 is 60 per cent of salary, the
  same as 2005. Executives may receive up to twice their target (ie up to 120
  per cent of salary) for exceptional performance against all criteria. <br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Details relating to STIP awards for 2005 are
  on pages 93 to 94.</FONT></P>
<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Long term incentives</FONT></I></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shareholders approved two long term incentives at the annual general meetings in 2004, the Share Option Plan and the Mining Companies Comparative Plan.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">These are intended to provide the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration committee
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">with a means of linking management&#146;s rewards to Group performance. The committee regards total shareholder return (TSR) as the most appropriate measure of a
company&#146;s performance for the purpose of share based long term incentives and a TSR performance measure is therefore applied to both plans.</FONT></P>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">88</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p89"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>

<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td colspan="2" valign="top"><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Share
      Option Plan (SOP)</FONT></I></B><br>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Each year,
      the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
      committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">considers whether a grant of options should be made under the
      SOP, and if so, at what level. In arriving at a decision, the committee
      takes into consideration the personal performance of each executive as well
      as local remuneration practice.</FONT><br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No
      options will become exercisable unless the Group has met stretching performance
      conditions. In addition, before approving any vesting and irrespective of
      performance against the respective performance conditions, the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
      committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">retains discretion to satisfy itself that the TSR performance
      is a genuine reflection of underlying financial performance.</FONT><br>
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
      the plan, approved by shareholders at the 2004 annual general meetings,
      vesting is subject to Rio Tinto&#146;s TSR equalling or outperforming the
      HSBC Global Mining Index over a three-year performance period. The HSBC
      Global Mining Index covers the mining industry in 27 countries. Rio Tinto&#146;s
      TSR is calculated as a weighted average of the TSR of Rio Tinto plc and
      Rio Tinto Limited. If TSR performance equals the index, the higher of one
      third of the original grant or 20,000 options will vest (subject to the
      actual grant level not being exceeded). The full grant vests if the TSR
      performance is equal to or greater than the HSBC Global Mining Index plus
      five per cent per annum. TSR performance at this level historically has
      been equivalent to the upper quartile of companies in the index. Between
      these points, options vest on a sliding scale, with no options becoming
      exercisable for a three year TSR performance below the index.</FONT><br>
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Options
      granted under the 2004 plan before 31 December 2006 will be subject to a
      single fixed base retest five years after grant if they have not vested
      after the initial three year performance period, with options granted after
      31 December 2006 not subject to any retest. These latter options will, therefore,
      lapse if they do not vest at the conclusion of the three year performance
      period. Options granted during 2006 will be the last which will be subject
      to a potential re-test.</FONT><br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Prior
      to any options being released to participants for exercise, the Group&#146;s
      performance against the criteria relevant to the SOP is examined and verified
      by the external auditors. If Rio Tinto were subject to a change of control
      or a company restructuring, options would become exercisable subject to
      the satisfaction of the performance condition measured at the time of the
      takeover or restructure.</FONT><br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Where
      an option holder dies in service, qualifying options vest immediately, regardless
      of whether the performance conditions have been satisfied. The estate will
      have 12 months in which to exercise the options.</FONT><br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      maximum grant under the SOP is three times salary, based on the average
      share price over the previous financial year. Under the SOP, no options
      are granted at a discount and no amount is paid or payable by the recipient
      on receipt of the options. Executives may, however, be granted options at
      a discount under the Rio Tinto Share Savings Plan, described under </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">&#145;Share based
      remuneration not dependent on performance&#146; </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">below.</FONT></td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
        SOP grants made prior to 2004:</FONT></P></td>
  </tr>
  <tr>
    <td width="3%" valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">two
      thirds of options vest when growth in the Group&#146;s adjusted earnings
      per share (under UK GAAP) for a three</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">year performance period is at least nine percentage points
      higher than US inflation over the same period, as</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">measured
      by the US Consumer Price Index;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      balance of the grant vests when growth of at least 12 percentage points
      above US inflation has been achieved;</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto performance is tested against the performance condition after three
      years; and</FONT></td>
  </tr>
  <tr>
    <td valign="top"><font size="2">&#8226;</font></td>
    <td> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">there
      is an annual retest on a three year rolling basis until options fully vest
      or lapse at the end of the option</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">period.</FONT></td>
  </tr>
  <tr>
    <td colspan="2" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">All
      remaining open options granted on this basis (under the Plan approved in
      1998) will have vested on or before 7 March 2006.</FONT></td>
  </tr>
</table>


<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Mining Companies Comparative Plan (MCCP)</FONT></I></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto&#146;s performance share plan, the MCCP, provides participants with a conditional right to receive shares. The conditional awards will only vest if performance conditions
  approved by the committee are satisfied. Again, were there to be a change of control or a company restructuring, the awards would only vest subject to the satisfaction of the performance condition measured at the time of the takeover or
  restructuring. Additionally, if a performance period is deemed to end during the first 12 months after the conditional award is made, that award will be reduced pro-rata. These conditional awards are not pensionable.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The performance condition compares Rio Tinto&#146;s TSR with the TSR of a comparator group of 15 other international mining companies over the same four
year period. The composition of this comparator group is reviewed regularly by the committee to provide continued relevance in a consolidating industry. The members of this group relevant to the 2005 conditional award are listed in the note below
the ranking table on page 90. The comparator group for the 2006 conditional award will be determined by the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">prior to approving the award.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The maximum conditional award size under the current MCCP is two times salary, calculated using the average share price over the previous financial
year.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The following table shows the percentage of each conditional award which will be received by executives based on Rio Tinto&#146;s four year TSR
performance relative to the comparator group for conditional awards made after 1 January 2004:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD colspan=17 align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ranking
      in comparator group</FONT></B></TD>
  </TR>
  <TR>
    <TD align=left><font size="2">&nbsp;</font> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1st-2nd</FONT></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">3rd</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">4th</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">5th</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">6th</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">7th</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">8th</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9th-16th</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
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    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</FONT></TD>
    <TD width="8%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">150</FONT></TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="8%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125</FONT>
    </TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="8%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT>
    </TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="8%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83.75</FONT>
    </TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="8%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67.5</FONT>
    </TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="8%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51.25</FONT>
    </TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="8%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35</FONT>
    </TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="8%" align=right bgcolor="#eeeeee">&#8212;</TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">89</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<a name="p90"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>



<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      historical ranking of Rio Tinto in relation to the comparator group is shown
      in the following table:</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ranking
      of Rio Tinto versus comparator companies</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Period</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ranking
      out of 16</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><HR align="left" size=1 noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1993
      - 97</FONT></TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1994
      - 98</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1995
      - 99</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1996
      - 00</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1997
      - 01</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1998
      - 02</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1999
      - 03</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2000
      - 04</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001
      - 05</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><HR align="left" size=1 noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</font></b></td>
  </tr>
  <tr>
    <td> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Comparator
      companies for the 2005 Conditional Award were: </font></td>
  </tr>
  <tr>
    <td> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Alcan,
      Alcoa, Anglo American, Barrick Gold, BHP Billiton, Freeport, Grupo Mexico,
      INCO, Newmont, Noranda, Phelps Dodge, Placer Dome, Teck Cominco, WMC Resources
      and Xstrata</font></td>
  </tr>
</table>

<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Before awards
    are released to participants, the external auditors and Kepler Associates
    independently review the Group&#146;s TSR performance compared to that of
    the comparator
companies.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Awards are released to participants as either Rio Tinto plc or Rio Tinto Limited shares or as an equivalent amount in cash. In addition, for MCCP
Conditional Awards made after 1 January 2004, a cash payment equivalent to the dividends that would have accrued on the vested number of shares over the four year period will be made to executive directors and product group chief
executives.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares to satisfy the vesting may be treasury shares, shares purchased in the market, by subscription, or, in the case of Rio Tinto Limited, transfers of
existing shares.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Post employment benefits
</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
  current pension arrangements, executives are normally expected to retire at the
  age of 60, except executives with Australian employment contracts, who would
  normally be expected
  to retire at age 62. In 2004, Leigh Clifford&#146;s contractual retirement age
  was reduced from 62 to 60, with a corresponding change to his retirement arrangements.</FONT></P>

<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">United Kingdom</FONT></I></B><br><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy Elliott participates in the non contributory Rio Tinto Pension Fund, a funded, Inland Revenue approved, occupational pension scheme. The fund provides both defined benefit and
  defined contribution benefits. In April 2005, the defined benefit section of the Rio Tinto Pension Fund was closed to new participants.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy Elliott is a member of the defined benefit section, accruing a pension from normal retirement age at 60 of two thirds final pensionable salary,
subject to completion of 20 years&#146; service. Proportionally lower benefits are payable for shorter service or, if, having attained 20 years&#146; service, retirement is taken prior to the age of 60. Members of the defined benefit section who
retire early may draw a pension reduced by approximately four per cent a year for each year of early payment from age 50 onwards. Spouse and dependants&#146; pensions are also provided. Pensions paid from this section are guaranteed to increase
annually in line with increases in the UK Retail Price Index subject to a maximum of ten per cent per annum. Increases above this level are discretionary.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">During 2005, no Company cash contributions were paid into the Rio Tinto Pension Fund as the fund remained fully funded.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has reviewed its pension policy in the light of the legislation changes being introduced from April 2006, which will remove the earnings
&#147;cap&#148; and introduce a Lifetime Allowance. The Rio Tinto Pension Fund is being amended to incorporate a fund specific limit equivalent to the earnings cap for all members previously affected; unfunded benefits will continue to be provided,
where already promised, on pensionable salary above the fund specific limit. There will be no change to the pension promise in place for the current executive director, and the unfunded arrangements described above may be utilised to deliver this
promise.</FONT></P>

<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Australia
</FONT></I></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh Clifford, is a member of the Rio Tinto Staff Superannuation Fund, a funded superannuation fund regulated by Australian legislation. The fund provides both defined benefit and
  defined contribution benefits. He is a defined benefit member, accruing lump sums payable on retirement. Retirement benefits are limited to a lump sum multiple of up to seven times final basic salary at age 62, although, as stated above, Leigh
  Clifford will retire at age 60. For retirement after 62, the benefit increases to up to 7.6 times average salary at age 65.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Death in service and disablement benefits are provided as lump sums and are equal to the prospective age 65 retirement benefit. Proportionate benefits
are also payable on termination of employment for ill health or resignation.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Executives are not required to pay contributions. During 2005, Company cash contributions were paid into the Rio Tinto Staff Superannuation Fund to fund
members&#146; defined benefit and defined contribution benefits.</FONT></P>

<P>
<B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Other pensionable benefits
</FONT></I></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  percentage of total remuneration which is dependent on performance is substantial.
  The committee considers it appropriate that a proportion of this &#147;at risk&#148; pay
  should
  be pensionable. Annual STIP awards are pensionable up to a </FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">90</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p91"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">maximum
  value of 20 per cent of basic salary. For Australian participants this results
  in a defined contribution payment equivalent to 20 per cent of the pensionable
  component of STIP and does not impact the defined benefit component.<br>
  </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
  committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">has determined that for any new executive directors, STIP will
  not be pensionable.<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Details of directors&#146; pension and superannuation
  entitlements are set out in Table 2 on page 101.</FONT></P>

<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Performance and non performance related remuneration</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total remuneration is a combination of fixed and performance related elements, each of which is described in this report. In addition, some executives have specific arrangements for
  remuneration outside the performance and non performance related remuneration. These include expatriate/secondment packages, which may include items such as housing benefit, assistance with incremental school fees and tax equalisation. Other
  compensation includes medical insurance and the provision of a company car and fuel, or an allowance in lieu. The total remuneration for executives shown in Table 1 includes these non performance related items, which are specific to the
  circumstances of each executive.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The performance related, or variable, elements are the short and long term incentive plans, which are linked to achievement of business and personal
performance goals and are, therefore, &#147;at risk&#148;. The rest of the elements of the package are &#147;fixed&#148;, as they are not at risk, although some, such as base salary, are also related to performance.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Excluding post employment costs and expatriate secondment costs, employment costs and other benefits, the proportion of total direct remuneration
provided by way of variable components, assuming target levels of performance, is approximately 68 per cent for the chief executive, 62 per cent for the finance director and between 62 per cent and 68 per cent for the product group chief executives.
Variable components comprise the Short Term Incentive Plan, the Share Option Plan and the Mining Companies Comparative Plan (STIP, SOP and MCCP). The actual proportion of total direct remuneration provided by way of variable components is set out in
Table 1 on pages 98 to 100 and may differ from these target percentages depending on Company and personal performance.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Share based remuneration not dependent on performance
</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Senior management may participate in share and share option plans that apply to all employees at particular locations and for which neither grant or vesting is subject to the
  satisfaction of a performance condition. These plans are consistent with standard remuneration practice whereby employees are offered share and option plan participation as part of their employment entitlements in order to encourage alignment with
  the long term performance of the Company.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Executives employed in the Rio Tinto plc part of the Group may participate in the Rio Tinto plc Share Savings Plan, a savings related plan which is open
to employees in the UK and elsewhere. Under the plan, participants can save up to &#163;250 per month, or equivalent in local currency, for a maximum of five years. At the end of the savings period participants may exercise an option over shares
granted at a discount of up to 20 per cent to the market value at the time of the grant. The number of options participants are entitled to is determined by the option price, the savings amount and the length of the savings contract. No
consideration is paid or payable by the recipient on receipt of the options. The UK section of this plan is Inland Revenue approved.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Eligible UK employees, including some of the executives, may also participate in the Rio Tinto Share Ownership Plan, an Inland Revenue approved share
incentive plan which was approved by shareholders at the 2001 annual general meeting and introduced in 2002. Under this plan, participant employees can save up to &#163;125 per month, which the plan administrator invests in Rio Tinto plc shares. Rio
Tinto matches these purchases on a one for one basis. In addition, eligible employees may receive an annual award of Rio Tinto shares up to a maximum of five per cent of salary, subject to a cap of &#163;3,000.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Executives employed in the Rio Tinto Limited part of the Group may elect to participate in the Rio Tinto Limited Share Savings Plan, also introduced in
2001, which is similar to the Rio Tinto plc Share Savings Plan.</FONT></P>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="7" align=left><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Service
      contracts </FONT></B><br> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Each
      of the executives has a service contract with a Group company. Full details
      of remuneration provided during service are set out in this report.</FONT><br>
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">It
      is the Group&#146;s policy that the service contracts of all executives
      have no fixed term but be capable of termination giving no more than 12
      months&#146; notice. Notice periods for executives are as follows:</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b><i>Notice
      periods</i></b></FONT></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remaining</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">service
      period</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date
      of</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Notice</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">if
      less than</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Agreement</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">period</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Executive
      directors</FONT></I></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford</FONT></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
      Mar 2005</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
      Elliott</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19
      Jun 2002</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Product
      group chief executives</FONT></I></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
      Albanese</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3
      Aug 2004</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston
      Chiaro</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
      Sep 2003</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
      Groeneveld</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Oct 2004</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith
      Johnson</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      Mar 2004</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Mackenzie</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4
      May 2004</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3
      Aug 2004</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      months</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">91</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p92"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Termination payments
</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
  Tinto has retained the right to pay executives in lieu of notice. Given the
    wide variety of possible circumstances leading to early termination, the
    executives&#146; service
  contracts do not provide explicitly for compensation, but in the event of early termination, it is the Group&#146;s
  policy to act fairly in all circumstances and the duty to mitigate would be
  taken into account. Compensation would not provide
  unmerited reward for poor performance.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There were no termination payments made in 2005. However, a contractual payment was made to Christopher Renwick, a former product group chief executive,
who left the Group on 1 December 2004, in respect of housing costs incurred as a consequence of his relocation during employment at the request of the Group. This payment is shown in Table 1 on pages 98 to 100 as a termination benefit in 2005 as it
was paid after he left the Group.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Shareholding policy
</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
  2002, the committee decided that it would be appropriate to encourage executives
  to build up a substantial shareholding, aiming to reach a holding equal in value
  to two times base
  salary over five years. Details of executives&#146; share interests in the Group
  are set out in Table 3 on page 102.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Remuneration paid in 2005</FONT></B><br><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">  </FONT></B><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Performance of Rio Tinto, product groups and individual executives</FONT></I></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005 was a year of generally very strong operational performance and was the second successive year of record results for the Group.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To illustrate the performance of the Companies relative to their markets, graphs showing the performance of Rio Tinto plc in terms of TSR over the last
five years, compared to the FTSE 100 Index and Rio Tinto Limited compared to the ASX All Ordinaries Index are reproduced below. A graph showing Rio Tinto&#146;s performance relative to the HSBC Global Mining Index is also included to illustrate the
performance of Rio Tinto relative to other mining companies. The effect of this performance on shareholder wealth is detailed in the table below.</FONT></P>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TSR
      (&#163;) &#150; Rio Tinto plc vs FTSE 100</FONT></B><br>
    <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total return basis</FONT><BR>
    <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Index 2000 = 100</FONT><BR>
  <IMG src="b832238x93x1.jpg" border=0>
  <BR>
    <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TSR
    (A&#36;) &#150; Rio Tinto Limited vs ASX All Share<br>
    </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
  return basis<br>
  Index 2000 = 100</FONT><br>
  <img src="b832238x93x2.jpg" border=0></p>
<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TSR
      (US&#36;) &#150; Rio Tinto Group vs HSBC Global Mining Index<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
return basis<br>
Index 2000 = 100</FONT></p>
<p><IMG src="b832238x94x1.jpg" border=0></p>
<p></p>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">92</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p93"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>&nbsp;</P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto shareholder return 2001-2005</font></b></TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD colspan="3" align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD colspan="3" align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Dividends per share</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="3" align=right> <font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      price</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="3" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      price </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total<br>
      </font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">paid
      during the year</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan="3" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan="3" align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Rio Tinto Limited</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shareholder</font></TD>
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2"> &nbsp; </font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">return
      (TSR)</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan</FONT> </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</FONT> </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan</FONT> </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</FONT> </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US
      cents</FONT></TD>
    <TD width=2% align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pence</FONT>
    </TD>
    <TD width=2% align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pence</FONT>
    </TD>
    <TD width=2% align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</FONT>
    </TD>
    <TD width=2% align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</FONT>
    </TD>
    <TD width=2% align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</FONT>
    </TD>
    <TD width=2% align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83.5</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,533</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,655</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.12</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.00</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">77.5</FONT>
    </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">66.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,543</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,533</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.54</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.12</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.7</FONT>
    </TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.5</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,240</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,543</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.95</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.54</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.9</FONT>
    </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,316</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,240</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.21</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.95</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(2.3</FONT>
    </TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.5</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,178</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,316</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29.44</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.21</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.5</FONT>
    </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Group and product group performance during 2005, and over relevant performance periods ending at </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
December 2005, impacted executives&#146; remuneration as follows:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="top">
    <TD colspan=2 align=left> <i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Share
      based awards</font></i></TD>
  </TR>
  <TR valign="top">
    <TD width=3% align=left><font size="2">&#8226;</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MCCP
      &#150; Rio Tinto ranked tenth in the sixteen company comparator group at
      the completion of the four-year performance period ending 31 December 2005,
      resulting in zero vesting of the conditional award made to executives who
      were directors at the date of the conditional award. This group included
      Leigh Clifford, Guy Elliott and Oscar Groeneveld. The vesting shown in Table
      4 on pages 103 to 106, for other product group chief executives, where relevant,
      is in accordance with the performance condition applicable to the 2002 award
      and represents 25 per cent of the original awards.</FONT></TD>
  </TR>
  <TR valign="top">
    <TD align=left><font size="2">&#8226;</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP
      &#150; Rio Tinto EPS growth over the three years ending 31 December 2005
      exceeded the level required by the</FONT></TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">applicable
      performance condition and this grant will vest in full on 7 March 2006.</FONT></TD>
  </TR>
</TABLE>
<P><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual
  cash bonus<br>
  </FONT></I><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cash
  bonuses (STIP) in respect of the 2005 performance period, to be paid in March
  2006, are set out in Table 1 on pages 98 to 100 and the percentages awarded
  to each executive (or forfeited) are set out in the table on page 95. These
  bonuses were approved by the committee on the basis of delivered performance
  against financial, safety and personal targets and objectives for each executive.</font><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Financial
  performance was assessed against underlying earnings targets for the Group and
  relevant product group as established by the committee at the commencement of
  the performance period. The potential impact of fluctuations in exchange rates
  and some prices are outside the control of the Group. The committee therefore
  compares, on an equal weighting basis, both actual results and underlying performance.
  This approach is designed to ensure that the annual bonus reflects financial
  results and addresses underlying performance excluding the impact of prices
  and exchange rates. The committee retains discretion to consider underlying
  business performance in deciding STIP awards.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  safety measures included Group or relevant product group lost time injury frequency
  rates (LTIFR) and overall assessment of progress against improvement targets
  in other safety measures, including all injury frequency rates (AIFR). These
  measures are chosen as they reflect the priority of safety at all Rio Tinto
  operations.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Personal
  performance targets and objectives were established for each executive at the
  start of the performance period. These comprise a balanced set of measures for
  each individual that reflect current operational performance, as well as progress
  on initiatives and projects designed to grow the value of each business unit
  and the Rio Tinto portfolio. The targets and objectives chosen enable personal
  performance and the benefit accruing to shareholders in the long term to be
  mirrored in each of the executives&#146; &#147;at risk&#148; remuneration.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">93</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p94"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To achieve
    linkage between business/financial and personal/non-financial performance
    and remuneration, each executive director&#146;s STIP payment is calculated
as a percentage of salary in accordance with the formula set out below:</FONT></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan=3 align=center><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=center><hr size="1" noshade></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="6" align=center valign="middle"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Target<br>
      </font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">STIP<br>
      </font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(60</font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%)</font>
    </TD>
    <TD align=left>&nbsp; </TD>
    <TD colspan=3 align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Business
      / financial</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Personal
      / non financial</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD colspan=3 align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(score
      = 0% to 133%)</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(score
      = 0% to 133%)</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="3" align=center><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width="2%" align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">x</FONT></TD>
    <TD width="20%" align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75%
      weight</FONT></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="20%" align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25%
      weight</FONT></TD>
    <TD width="2%" align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">x</FONT></TD>
    <TD width="35%" align=left>&nbsp; </TD>
    <TD width="2%" align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Personal
      targets</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial
      results</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">safety
      performance</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      objectives</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="3" align=center><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=center><hr size="1" noshade></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">For each product group chief executive, STIP payments are calculated as a percentage of salary in accordance with the formula set out below:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan=3 align=center><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan=3 align=center><hr size="1" noshade></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="6" align=center valign="middle"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Target<br>
      </font><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">STIP<br>
      </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(60</FONT><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%)</font>
    </TD>
    <TD align=left>&nbsp; </TD>
    <TD colspan=3 align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Business
      / financial</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD colspan=3 align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Personal
      / non financial</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD colspan=3 align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(score
      = 0% to 133%)</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD colspan=3 align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(score
      = 0% to 133%)</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD colspan="3" align=center><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="3" align=center><hr size="1" noshade></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=2% align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">x</FONT></TD>
    <TD width=20% align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40%
      weight</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=20% align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60%
      weight</FONT></TD>
    <TD width=2% align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">x</FONT></TD>
    <TD width=16% align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25%
      weight</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=17% align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75%
      weight</FONT></TD>
    <TD width=2% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Group</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Product
      group</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Product
      group</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Personal
      targets</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial
      results</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">safety
      performance</FONT></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">safety
      performance</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=center> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      objectives</FONT></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="3" align=center><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD colspan="3" align=center><hr size="1" noshade></TD>
    <TD align=center>&nbsp;</TD>
  </TR>
</TABLE>


<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr align="left" valign="top">
    <td colspan="2"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      following is a summary of the business, financial and safety STIP remuneration
      outcomes for 2005. Full details of overall STIP outcomes are listed below:</FONT></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%"><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Strong
      Group financial performance for 2005 resulted in a STIP score at the maximum
      level (133 per cent of</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">target) for this component.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Financial
      performance for each product group varied and the </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
      committee </font></i><font
size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">approved STIP scores</font>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ranging
      from 80 per cent of target to 133 per cent of target (the maximum) for this
      component.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Continued
      improvement in Group safety performance resulted in the </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration
      committee </font></i><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">approving
      a score</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
      125 per cent of target (maximum is 133 per cent) for this component.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Product
      group safety performance varied and STIP scores ranged from 80 per cent
      of target to 140 per cent of</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">target (where 150 per cent is the maximum achievable) for this
      component.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total
      STIP awards for executives ranged from 71 per cent to 106 per cent of salary
      (59 per cent to 88 per cent of</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">maximum).</font></td>
  </tr>
</table>

<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Each of the results set out below therefore reflect a second successive year of record results, strong operational performance and portfolio initiatives to secure future value for the
business across the Group.</FONT></P>
<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Leigh
  Clifford<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed personal performance as above target and the overall STIP
  award was 157.2 per cent of target (78.6 per cent of maximum).</FONT></P>
<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Guy
  Elliott<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed personal performance as above target and the overall STIP
  award was 170.3 per cent of target (85.2 per cent of maximum).</FONT></P>
<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Tom
  Albanese<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed product group financial performance and personal performance
  as above target and product group safety performance at target. The overall
  STIP award was 157.9 per cent of target (79 per cent of maximum).</FONT></P>
<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Preston
  Chiaro<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed product group financial performance as below target and safety
  and personal performance as above target. The overall STIP award was 120.2 per
  cent of target (60.1 per cent of maximum).</FONT></P>
<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Oscar
  Groeneveld<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed product group financial performance and personal performance
  as above target and safety performance at target. The overall STIP award was
  124.9 per cent of target (62.5 per cent of maximum).</FONT></P>
<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Keith
  Johnson<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed product group financial performance and personal performance
  as above target and safety performance as below target. The overall STIP award
  was 142.4 per cent of target (71.2 per cent of maximum).</FONT></P>


<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Andrew
  Mackenzie<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed product group financial performance as at target, personal
  performance as above target and safety performance as below target. The overall
  STIP award was 118.9 per cent of target (59.4 per cent of maximum).</FONT></P>


<P> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Sam
  Walsh<br>
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  committee assessed product group financial and safety performance and personal
  performance as above target. The overall STIP award was 176.2 per cent of target
  (88.1 per cent of maximum).</FONT></P>

  <p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">94</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p95"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Share
      based payment &#8211; long term incentives granted in 2005<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Options
  over either Rio Tinto plc or Rio Tinto Limited shares were granted to each
  executive under the Share Option Plan on 9 March 2005. The <I>Remuneration committee </I>reviewed
  the performance condition applicable to this grant and confirmed that vesting
  will be dependent on Rio Tinto TSR relative to the HSBC Global Mining Index
  over a three year performance period. Share options granted are included in
  Table 5 on pages 107 to 112.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A
conditional award of performance shares in either Rio Tinto plc or Rio Tinto
Limited shares was made to each executive under the MCCP on 9 March 2005. The <I>Remuneration
committee </I>reviewed
the performance condition applicable to the conditional award and confirmed that
vesting will be dependent on Rio Tinto TSR relative to 15 other mining companies.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
percentages of maximum bonuses made in respect of 2005 and grants vested in respect
of performance periods ending 31 December 2005, as well as the percentages forfeited
because the relevant Company or individual did not meet the performance criteria
required for full vesting, are as follows:</font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Bonuses
      and grants made during or in respect of 2005</FONT></B></TD>
    <TD align=center>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      STIP Cash<SUP><font color="#000000">1</font></SUP>&nbsp; </font></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      SOP Options<SUP>2</SUP>&nbsp; </font></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      MCCP Shares<SUP>3</SUP>&nbsp; </font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%
      of</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%
      of</FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%</FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%</FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%</FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">%</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">maximum<br>
      </FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">maximum<br>
      </FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">vested</FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">forfeited</FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">vested</FONT></TD>
    <TD align="center"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">forfeited</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2"> &nbsp;</font></TD>
    <TD align=right><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">vested</FONT></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=right><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">forfeited</FONT></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <hr size="1" noshade>
      </font></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
      Adams</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT></SUP>&nbsp;
    </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50.0</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50.0</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> &#8212;</TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42.3</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">57.7</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">78.6</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21.4</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
      Elliott</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">85.2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
      Albanese</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">79.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston
      Chiaro</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.9</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
      Groeneveld</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith
      Johnson</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28.8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Mackenzie</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT></SUP>&nbsp;
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59.4</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.6</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">N/A</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">88.1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.9</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <hr size="1" noshade>
      </font></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
    <TD colspan="2" align=right>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left valign="top">
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="top">
	<TD width=3% align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paid in March 2006 in respect of 2005.</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vesting of 2003 grant in March 2006.</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vesting of 2002 Conditional Award in February 2006.</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert Adams&#146; conditional award vested on a pro-rata basis reflecting his period of employment.</FONT></TD>
</TR>
<TR valign="top">
	<TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</FONT></TD>
	<TD align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew Mackenzie joined in 2004 after the 2003 SOP and 2002 MCCP awards had been made.</FONT></TD>
</TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The estimated maximum and minimum total value of bonuses and share and option based compensation for the 2006 financial year are set out below.</FONT></P>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;<B>Minimum
      and maximum total bonuses and grants 2006</B></font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan="3" align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      STIP Cash<SUP>1</SUP>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan="3" align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      SOP Options<SUP>2</SUP>&nbsp; </font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan="3" align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      MCCP Shares<SUP>3</SUP>&nbsp; </font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right><font size="2"> &nbsp;</font></TD>
    <TD colspan=3 align=right><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Potential
      range of bonus</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan=3 align=right valign="top"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(%
      of March 2006 salary)<SUP>2,3</SUP>&nbsp;</font></TD>
    <TD align="right" valign="top"><font size="2">&nbsp;</font></TD>
    <TD colspan=3 align=right valign="top"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(%
      of March 2006 salary)<SUP>2,4</SUP>&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD colspan=3 align=right><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">payments
      in March 2007 in</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan=3 align=right valign="top"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="top"><font size="2">&nbsp;</font></TD>
    <TD colspan=3 align=right valign="top"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan=3 align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      respect of 2006</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan=3 align=right valign="top"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="top"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan=3 align=right valign="top"><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Min</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Max</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Min</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Max</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Min</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Max</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;</FONT></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="right"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford</FONT></TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,835,136</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
      Elliott</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,161,216</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">140</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
      Albanese</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">948,000</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston
      Chiaro</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">720,000</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">300</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
      Groeneveld</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,141,920</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">140</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith
      Johnson</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">756,864</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">140</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Mackenzie</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT></SUP>&nbsp;
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">839,808</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">140</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,054,080</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">140</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
    <TD colspan="2" align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left valign="top">
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD width="3%" align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</FONT></TD>
	<TD align=left valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Based on exchange rate &#163;1 = US&#36;1.728 and A&#36;1 = US&#36;0.732.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</FONT></TD>
	<TD align=left valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Grant / Conditional Award based on the average share price during 2005.</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</FONT></TD>
	<TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP
      Options to be granted in 2006 may, subject to achievement of the performance
      condition, vest in 2009, with a potential re-test in 2011. The maximum value
      of these options at the date of vesting would be calculated by multiplying
      the number of vested options by the intrinsic value at that time (ie the
      difference between the option exercise price and the current market price).</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</FONT></TD>
	<TD align=left valign="top">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MCCP performance
shares to be granted in 2006 may, subject to achievement of the performance condition,
vest in 2010. The maximum value of these shares at the date of vesting would
be calculated by multiplying the number of vested shares by the intrinsic value
at that time (ie the current market price plus, the value of dividends &#147;earned&#148; on
the vested shares during the performance period).</FONT></TD>
</TR>
</TABLE>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">External
  appointments<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Executive
  directors are likely to be invited to become non executive directors of other
  companies. Rio Tinto believes that such appointments can broaden their experience
  and knowledge, to the benefit of the Group. It is Group policy to limit executive
  directors&#146; external directorships to one FTSE 100 company or equivalent
  and they are not allowed to take on the chairmanship of another FTSE 100 company.
  In addition the chairman of Rio Tinto is not permitted to take</FONT> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">on
the chairmanship of another FTSE 100 company, or equivalent.</font></P>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%" align="right"><b><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">
      </font></i><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">95</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p96"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consequently, where there is no likelihood that such directorships will give rise to conflicts of interests, the board will normally give consent to the
appointment, with the director permitted to retain the fees earned. Details of fees earned are set out in the notes to Table 1 on pages 98 to 100.</FONT></P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Company
  secretary remuneration<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  board policy described above applies to the company secretary of each of Rio
  Tinto plc and Rio Tinto Limited. The secretaries participate in the same performance
  based remuneration arrangements as the executives. The individual performance
  measures for the secretaries&#146; annual cash bonus comprise company and personal
  measures. Their personal measures reflected the key responsibilities of the
  company secretarial role and included ensuring compliance with regulatory requirements,
  oversight of good corporate governance practice and the provision of corporate
  secretarial services.</FONT> </P>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Chairman
  and non executive director remuneration<br>
  </FONT></B><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Remuneration
  policy<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reflecting
  the board&#146;s focus on long term strategic direction and corporate performance
  rather than short term results, remuneration for the chairman and non executive
  directors is structured with a fixed fee component only, details of which are
  set out below and in Table 1 on pages 98 to 100. The board as a whole determines
  non executive directors&#146; fees, although non executive directors do not
  vote on any changes to their own fees. Fees are set to reflect the responsibilities
  and time spent by the directors on the affairs of Rio Tinto. To reflect the
  commitment expected from directors, as well as market practice for similar companies,
  non executive directors&#146; base fees were increased from &#163;50,000 to
  &#163;60,000 in late 2005, the first such increase since 2001.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">It
  is Rio Tinto&#146;s policy that the chairman should be remunerated on a competitive
  basis and at a level which reflects his contribution to the Group, as assessed
  by the board. The chairman is not present at any discussion regarding his own
  remuneration. He does not participate in the Group&#146;s incentive plans or
  pension arrangements.</FONT></P>
<p><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Letters
  of appointment<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Non
  executive directors have formal letters of appointment setting out their duties
  and responsibilities. These letters are available for inspection at Rio Tinto
  plc&#146;s registered office prior to the annual general meeting and at the
  meeting itself. Each non executive director is appointed subject to periodic
  re-election by shareholders as detailed on page 116. There are no provisions
  for compensation payable on termination of any non executive director&#146;s
  directorship.</FONT><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  chairman&#146;s letter of appointment summarises his duties as chairman of the
  Group and was agreed by the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration committee</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.
  It stipulates that he is expected to dedicate at least three days per week on
  average to carry out these duties. The letter envisages that Paul Skinner will
  continue in the role of chairman until he reaches the age of 65 in 2009, subject
  to re-election as a director by shareholders, although the appointment may be
  terminated by either Rio Tinto or Paul Skinner giving six months&#146; notice.
  Other than in this case, there is no provision for compensation payable on termination
  of his chairmanship or directorship.</FONT></P>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Remuneration
      components</FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
      The following table sets out the annual fees payable to the chairman and
      the non executive directors in &#163;/A&#36; as appropriate.</FONT></TD>
    <TD align=right>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">As
      at 31 Dec 2005</font> </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">As
      at 1 Jan 2005</font> </TD>
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=center><hr size="1" noshade></TD>
    <TD align="center"><hr size="1" noshade></TD>
    <TD align=center><hr size="1" noshade> </TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Base
      fees:</FONT></B></TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chairman</FONT></TD>
    <TD width="12%" align=right bgcolor="#eeeeee"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;
      600,000</FONT> </TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="12%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;550,000</FONT>
    </TD>
    <TD width=2% align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other
      directors</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;60,000
      / A&#36;150,000</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;50,000
      / A&#36;125,000</FONT> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Additional
      fees:</FONT></B></TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Senior
      independent director</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;35,000</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;30,000</FONT>
    </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Audit
      committee chairman</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;20,000</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;20,000</FONT>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Audit
      committee member</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;10,000</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;10,000</FONT>
    </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remuneration
      committee chairman</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;15,000</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;15,000</FONT>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remuneration
      committee member</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;5,000</FONT>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;5,000</FONT>
    </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Committee
      on social and environmental accountability chairman</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;10,000</FONT>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT>
    </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Committee
      on social and environmental accountability member</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      &#163;3,000 / A&#36;7,500</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT>
    </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Overseas
      meeting allowances:</FONT></B></TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Long
      distance (flights over 10 hours per journey)</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      &#163;4,000 / A&#36;10,000</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;4,000
      / A&#36;10,000</FONT> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Medium
      distance (flights of 5-10 hours per journey)</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      &#163;2,000 / A&#36;5,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;2,000
      / A&#36;5,000</FONT> </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=center><hr size="1" noshade></TD>
    <TD align="center"><hr size="1" noshade></TD>
    <TD align=center><hr size="1" noshade> </TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
</TABLE>

  <p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No additional fee is payable to the chairman or members of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Nominations committee
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">although
  this arrangement remains subject to review and will depend on the volume of
  committee business going forward. In light of the increased volume of committee
  work, it was decided in June 2005 to introduce a &#163;10,000 fee for the chairman
  of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Committee on social and environmental accountability </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">and a &#163;3,000 fee for
members.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto
      does not pay retirement benefits or allowances to the chairman or non executive
      directors nor do any participate in any of the Group&#146;s
incentive plans. Where the payment of statutory minimum superannuation contributions
      for Australian non executive directors is required by the Australian superannuation
      guarantee legislation, these contributions are deducted from the directors&#146;
overall fee entitlements.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%" align="right"><b><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">
      </font></i><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">96</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p97"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Remuneration
  paid during 2005<br>
  </FONT></I></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Details
  of the nature and amount of each element of remuneration paid to the chairman
  and non executive directors during 2005 are set out in Table 1 on pages 98 to
  100. No post employment, long term or termination payments were paid and no
  share based payments made.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Auditable information</FONT></B><br>
<I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Intentionally deleted.</FONT></I></P>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Directors&#146;
      total remuneration as defined under Schedule 7A of the Companies Act 1985</FONT></B></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;&#146;000</FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;&#146;000</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Chairman</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul
      Skinner</FONT></TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,049</FONT></TD>
    <TD width=2% align=left bgcolor="#eeeeee"> </TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">963</FONT></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Non
      executive directors</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ashton
      Calvert</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">132</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vivienne
      Cox</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">107</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      David Clementi</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">138</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leon
      Davis</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">95</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">275</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Rod Eddington</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Giordano</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">191</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richard
      Goodmanson</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">127</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Gould</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">142</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lord
      Kerr</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">130</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">115</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
      Mayhew</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">122</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">122</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">John
      Morschel</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">155</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Sykes</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">188</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">127</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lord
      Tugendhat</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive
      directors</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
      Adams</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">220</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,777</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,093</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,150</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
      Elliott</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,872</FONT></TD>
    <TD align=left bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,781</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
      Groeneveld</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=left> </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,215</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Annual
  general meetings<br>
  </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shareholders
  will be asked to vote on this Remuneration report at the Companies&#146; forthcoming
  annual general meetings.</FONT> </P>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By order of the board</FONT><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><br>
  Anette
      Lawless </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Secretary<br>
      </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remuneration
      Committee<br>
      </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24
February 2006</FONT></p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="left" valign="top"><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</font></b></td>
  </tr>
  <tr>
    <td align="left" valign="top"> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This
        Remuneration report was approved at the Companies&#146; 2006 annual general
    meetings.</font></td>
  </tr>
</table>
 <p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%" align="right"><b><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">
      </font></i><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">97</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p98"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>



<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="13" align=left><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
      1 &#8211; Total remuneration of directors and product group chief executives</FONT></B></TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD colspan="5" align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan="16" align=right valign="bottom"><font size="2"><b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Primary</font></b>      <font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>      <font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>      <font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>      <font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>&nbsp;
    </b> <b> &nbsp; </b></font></font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Equity</b></font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD height="20" align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="12" align=center valign="bottom"> <hr size="1" noshade></TD>
    <TD align="center"> <hr size="1" noshade></TD>
    <TD align=center> <hr size="1" noshade></TD>
    <TD align="center"><hr size="1" noshade>
    </TD>
    <TD align="center"><hr size="1" noshade>
    </TD>
    <TD align="center"><font size="2">&nbsp;</font> </TD>
    <TD colspan="3" align=center> <hr size="1" noshade> </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan=7 align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Short
      term employee benefits and costs</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Long
      term</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan=5 align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      Value of share based awards<SUP>6</SUP>&nbsp; </font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      &nbsp;</font> </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2">&nbsp;</font> </TD>
    <TD align="center"><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2">&nbsp;</font> </TD>
    <TD align="center"><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2">&nbsp;</font> </TD>
    <TD align="center"><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2">&nbsp;</font> </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">benefits</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2">&nbsp;</font> </TD>
    <TD align="center"><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2">&nbsp;</font> </TD>
    <TD align="center"><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2">&nbsp;</font> </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Base</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Cash</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Other</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Non-</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> Second-</font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Employ-</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Long</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      MCCP<SUP>7</SUP>&nbsp; </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      SOP<SUP>8</SUP>&nbsp; </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SSP/</FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">salary</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">bonus</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">cash
      </FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">monetary</font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ment</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ment</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      service<SUP>5</SUP>&nbsp; </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      Others<SUP>9</SUP>&nbsp; </font></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">based</FONT></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      benefits<SUP>2</SUP>&nbsp; </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      costs<SUP>3</SUP>&nbsp; </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      costs<SUP>4</SUP>&nbsp; </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
      Stated in US&#36;&#146;000<SUP>1</SUP><font color="2">&nbsp; </font></b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=right><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      benefits<SUP>2</SUP>&nbsp; </font></TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align="center"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Chairman</FONT></B></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul
      Skinner</FONT></TD>
    <TD width=2% align=right valign="bottom">&nbsp;</TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,017</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">133</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Non
      executive directors</FONT></B></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ashton
      Calvert</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">101</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vivienne
      Cox</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      David Clementi</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">123</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leon
      Davis</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,14</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">94</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Rod Eddington</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Giordano</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,14</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richard
      Goodmanson</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">112</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Gould</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">135</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lord
      Kerr</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">115</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
      Mayhew</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,16</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">108</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">John
      Morschel</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,14</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Sykes</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">174</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive
      directors</FONT></B><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17,19</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
      Adams &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Planning
      &amp;</FONT></I>&nbsp; </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Development</FONT></I><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></SUP></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,155</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">582</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left bgcolor="#eeeeee"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Chief
      Executive</FONT></I><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,492</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,348</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">160</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">363</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,651</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,277</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
      Elliott &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Finance</FONT></I>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">923</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">906</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">256</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">881</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">480</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan=3 align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Product
      group chief executives</FONT></B><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19</FONT></SUP>&nbsp;
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
      Albanese &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Copper
      &amp; Exploration</FONT></I><I><SUP><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">20</FONT></SUP></I>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">730</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">682</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">932</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">821</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">680</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston
      Chiaro &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Energy</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">537</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">393</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,050</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">652</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">343</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
      Groeneveld &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Aluminium</FONT></I>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">883</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">642</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">121</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">138</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">129</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">579</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">457</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith
      Johnson &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Diamonds</FONT></I>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">607</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">498</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">148</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">473</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">203</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      MacKenzie &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Industrial
      Minerals</FONT></I>&nbsp; </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">683</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">466</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">124</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">414</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">93</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chris
      Renwick &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Iron
      Ore (retired) </FONT></I><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT></SUP>&nbsp;
    </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh &#8211;</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Iron
      Ore</FONT></I>&nbsp; </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">807</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">829</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">92</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">130</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">630</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">384</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005
      Remuneration</FONT></B></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">8,956</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">5,802</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">371</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">314</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,372</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,685</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&#8212;</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">7,256</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,499</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6</FONT></B>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004
      Remuneration</FONT></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,255</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,688</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">255</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">775</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,183</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,994</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&#8212;</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,337</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,582</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%" align="right"><b><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">
      </font></i><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">98</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p99"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table 1 &#8211; Total remuneration of directors and product group chief executives (continued)</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan="6" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>&nbsp;
      &nbsp; Post employment&nbsp; &nbsp;&nbsp;</b></font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD colspan=3 valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
      Other benefits&nbsp; </b></font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan=6 valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      Post employment costs<SUP>10</SUP></font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD colspan=3 valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      Termination&nbsp;&nbsp;</font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD colspan="5" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
      &nbsp; Remuneration&nbsp;&nbsp;</font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD colspan="3" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
      &nbsp; Total</font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD colspan="3" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
      &nbsp; benefits</font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD colspan="5" valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
      &nbsp; &nbsp; &nbsp; mix<SUP>11</SUP>&nbsp; </font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD colspan=3 valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      remuneration&nbsp;&nbsp;</font></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan=6 valign="bottom"><hr size="1" noshade></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="3" valign="bottom"><hr size="1" noshade></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="5" valign="bottom"><hr size="1" noshade></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="3" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD colspan=4 valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Pension
      &#8211; Defined</FONT></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="4" valign="bottom"><hr size="1" noshade></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Benefits
      </FONT></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Contrib-</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Medical</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Post</FONT></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      Gifts<SUP>14</SUP></font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Fixed</FONT></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">At-risk</FONT></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Options</FONT></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Currency</FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
    </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Utions</FONT></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">costs
      </FONT></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">service&nbsp;</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">as
      %</FONT></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">as
      %</FONT></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      as % total&nbsp;</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
      2005&nbsp; </b></font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">of
      actual</FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Stated
      in US&#36;&#146;000</font></b> </TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
      US&#36;&#146;000 </b></font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US&#36;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font>
      </b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">payment</FONT></TD>
    <TD align=center><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Chairman</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
      </font> </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul
      Skinner</FONT></TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,182</FONT></B>
    </TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,085</FONT></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width="5%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Non
      executive directors</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ashton
      Calvert</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></SUP></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">139</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vivienne
      Cox</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></SUP></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">120</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      David Clementi</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">154</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">123</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leon
      Davis</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,14</FONT></SUP></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">100</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">289</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Rod Eddington</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></SUP></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">48</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Giordano</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,14</FONT></SUP></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">88</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">214</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richard
      Goodmanson</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">127</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Gould</FONT></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">142</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lord
      Kerr</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">145</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">128</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
      Mayhew</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,16</FONT></SUP></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">123</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">John
      Morschel</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,14</FONT></SUP></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">46</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">163</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Sykes</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</FONT></SUP></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">189</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">132</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive
      directors</FONT></B><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17,19</FONT></SUP></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
      Adams &#8211;</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Planning
      &amp;</FONT></I></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Development</FONT></I><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></SUP></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.5</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,114</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,686</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford &#8211;</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Chief
      Executive</FONT></I><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18</FONT></SUP></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">317</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36.2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.8</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19.0</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">6,704</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,511</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
      Elliott &#8211;</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Finance</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">408</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41.8</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.2</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.3</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,897</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,079</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="3" align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Product
      group chief executives</FONT></B><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19</FONT></SUP></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
      Albanese &#8211;</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Copper
      &amp; Exploration</FONT></I></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">157</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46.9</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16.5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">4,110</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,043</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston
      Chiaro &#8211;</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Energy</FONT></I></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">142</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">57.2</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42.8</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.6</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,246</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,595</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
      Groeneveld &#8211;</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Aluminium</FONT></I></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">181</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46.7</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.3</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,150</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,383</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith
      Johnson &#8211;</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Diamonds</FONT></I></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">312</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48.6</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51.4</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.9</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,284</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,712</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      MacKenzie &#8211;</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Industrial
      Minerals</FONT></I></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">398</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">56.1</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43.9</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,217</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">757</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chris
      Renwick &#8211;</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Iron
      Ore (retired)</FONT></I><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</FONT></SUP></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,115</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100.0</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,225</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,506</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh &#8211;</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Iron
      Ore</FONT></I></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">200</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41.5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.5</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.2</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,151</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,130</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005
      Remuneration</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,146</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">101</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">9</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,115</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">14</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">34,701</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004
      Remuneration</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,127</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">166</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35,764</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Short
      term employee benefits and costs</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">19,500</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,150</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Long
      term benefits</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,325</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      based awards</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">11,816</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,988</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Post
      employment costs</FONT></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,256</FONT></B>
    </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,301</FONT></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Termination
      benefits</FONT></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1,129</FONT></B>
    </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">34,701</font></b></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35,764</font></TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right><hr size="1" noshade> </TD>
    <TD><hr size="1" noshade> </TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%" align="right"><b><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">
      </font></i><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">99</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p100"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="top">
    <TD align=left> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</font></b></TD>
    <TD width=96% align=left>&nbsp; </TD>
  </TR>
  <TR align="left" valign="top">
    <TD width=3%> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      total remuneration is reported in US dollars. The amounts with the exception
      of the annual cash bonus, can be converted into sterling at the rate of
      1US&#36; = &#163;0.5491 or alternatively into Australian dollars at the
      rate of 1US&#36; = A&#36;1.3111, each being the average exchange rate for
      2005. The annual cash bonus is payable under the STIP and this may be converted
      at the 2005 year end exchange rate of 1US&#36; = &#163;0.5787 to ascertain
      the sterling equivalent or alternatively, 1US&#36; = A&#36; 1.3652 to calculate
      the Australian dollar value.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other
      cash based benefits include car, fuel, overseas meeting allowances and cash
      in lieu of holiday paid to the estate of Robert Adams who died on 27 January
      2005. The amounts shown as paid to non executive directors relate entirely
      to overseas meeting allowances. Non monetary benefits include heathcare,
      401K contributions in the US, the provision of a car, annual leave accruals
      and professional advice.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Secondment
      costs comprise housing, education, tax equalisation and relocation payments
      made to and on behalf of executive directors and product group chief executives
      living outside their home country.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Employment
      costs comprise social security contributions and accident insurance premiums
      in the UK and US and payroll taxes in Australia paid by the employer as
      a direct additional cost of hire.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A payment
      in respect of long service leave is paid to Australian executive directors
      and product group chief executives on retirement. Christopher Renwick received
      such a payment when he retired on 1 December 2004. No other long term benefit
      type payments have been made in the period.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      value of share based awards has been determined in accordance with the recognition
      and measurement requirements of IFRS2 "Share- based Payment". The fair value
      of awards granted under the Rio Tinto Share Option Plan (the SOP), the Share
      Savings Plan (the SSP) have been calculated at their dates of grant using
      an independent lattice based option valuation model provided by external
      consultants, Lane Clark and Peacock LLP. The fair value of awards granted
      under the Mining Companies Comparative Plan (the MCCP) has been based on
      the market price of shares at the measurement date adjusted to reflect the
      number of awards expected to vest based on the current and anticipated relative
      TSR performance. Further details of the valuation methods and assumptions
      used for these awards are included in the Note 48 (Share Based Payments).
      The non executive directors do not participate in the long term incentive
      share schemes.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      number of conditional shares awarded to executive directors and product
      group chief executives under the MCCP for the twelve month period ending
      31 December 2005 are shown under Table 4 of this report. The MCCP is stated
      under primary emoluments to reflect the treatment of the plan as a cash
      settled share based payment.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.</font></TD>
    <TD><p><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        award of options to executive directors under the SOP and SSP during the
        twelve month period up to 31 December 2005 are shown in Table 5 of this
        report.</font></p></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other
      share based awards refers to the Rio Tinto All Employee Share Ownership
      Plan where UK executive directors and product group chief executives are
      beneficiaries to free shares up to a maximum value of &#163;3,000 ( US&#36;
      5,463 ) and may also contribute to purchase additional shares where the
      Company will also match their personal contributions up to a maximum of
      &#163;1,500 (US&#36; 2,732 ) per annum. Under these plans Robert Adams received
      &#163;338 (US&#36;616), Keith Johnson received &#163;3,500 (US&#36;6,374),
      Andrew Mackenzie received &#163;3,750 (US&#36;6,829) and Guy Elliott received
      &#163;4,500 (US&#36;8,195). American group product chief executives receive
      a Company matching of personal contribution for shares under the US 401K
      arrangements up to a maximum of US&#36;12,600. The Company matched personal
      contributions to the following values: Tom Albanese (US&#36;12,600) and
      Preston Chiaro (US&#36;12,083).</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      costs shown for defined benefit pension plans and post-retirement medical
      benefits are the service costs attributable to the individual, calculated
      in accordance with IAS19. The cost for defined contribution plans is the
      amount contributed by the year by the company</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remuneration
      mix shows the proportions of total remuneration comprising fixed and variable
      pay components and the percentage of total remuneration comprising share
      options only. Fixed pay is represented by base salary, non monetary and
      other cash benefits, secondment and employment costs, post employment, termination
      benefits and voluntary share based awards as detailed in Note 9. Variable
      pay is made up of the cash bonus and the values of the share based awards
      related to company performance.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      comparative total figures in respect of 2004 have been restated following
      the move to International Financial Reporting Standards. In summary the
      major changes are the inclusion of employment costs and the recalculation
      of post employment costs and the value of share based awards on an annual
      basis.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Several
      of the non executive directors held their positions for less than the whole
      financial year. The following directors were appointed during the period,
      Ashton Calvert on 1 February 2005, Vivienne Cox on 1 February 2005 and Sir
      Rod Eddington on 1 September 2005. Sir Richard Sykes became the senior non
      executive director following Sir Richard Giordano's retirement in April
      2005. The following directors retired on 29 April 2005, Leon Davis, Sir
      Richard Giordano and John Morschel.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Messrs
      Davis, Giordano and Morschel received retirement gifts valued at US&#36;891,
      US&#36;11,987 and US&#36;891 respectively. These gifts are shown in the
      &#147;termination benefits&#148; column.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
      Mayhew resigned from the </FONT><I><FONT size=1 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit
      committee </FONT></I><FONT size=1 face="TimesNewRomanPSMT,Times
New Roman,Times,serif">on 31 July 2005. The fees disclosed above include &#163;4,167
      (US&#36;7,589) paid to JP Morgan Cazenove for Mr Mayhew's continued attendance
      at </FONT><I><FONT size=1 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit
      committee </FONT></I><FONT size=1
face="TimesNewRomanPSMT,Times New Roman,Times,serif">meetings after this date
      in the capacity of an advisor. In 2004 a total of &#163;6,645 (US&#36;12,164)
      relating to travelling expenses to attend the Australian AGM were incorrectly
      disclosed as part of his total base salary figure. The correct base salary
      figure should have been stated as US&#36;110,000.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
      Mayhew's fees were paid to JP Morgan Cazenove and Sir Richard Sykes&#146;
      fees were paid to Imperial College.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Executive
      directors have agreed to waive any fees receivable from subsidiary and associated
      companies. No such emoluments were paid by subsidiary or associated companies
      in respect of executive directors during the period (2004: two directors
      waived US&#36;53,022).</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
      the course of the year Leigh Clifford received US&#36;110,025 in respect
      of his non Rio Tinto related directorship.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19.</font></TD>
    <TD> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">With
      the exception of Robert Adams who died on 27 January 2005, all executive
      directors and product group chief executives held their positions for the
      entire reporting period.</font></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">100</font></b></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p101"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD colspan="8" align=left valign="bottom"><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
            2 &#8211; Directors&#146; pension entitlements </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(as
      at 31 December 2005)</font></font></TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font></TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font></TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font></TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font></TD>
    <TD valign="top"><font size="2">&nbsp;</font> </TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font> </TD>
    <TD valign="top"><font size="2">&nbsp;</font> </TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font> </TD>
    <TD valign="top"><font size="2">&nbsp;</font> </TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font> </TD>
    <TD valign="top"><font size="2">&nbsp;</font> </TD>
    <TD align=left valign="top"><font size="2">&nbsp;</font> </TD>
    <TD valign="top"><font size="2">&nbsp;</font> </TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="7" align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Accrued benefits</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="5" align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Transfer
      values<SUP>3</SUP></font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="7" align=center valign="bottom"><hr size="1" noshade></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="5" align="center" valign="bottom"><hr size="1" noshade></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Age</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Years
      of</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
      31</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
      31</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Change
      in</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Change
      in</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
      31</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
      31</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Change,</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Transfer</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">service</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accrued</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accrued</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">net
      of</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">value
      of</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">completed</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">benefits</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">benefit</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">personal</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">change
      in</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">during
      the</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">net
      of</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">contribs.</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accrued</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">year
      ended</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">inflation</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">benefit</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">net
      of</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">inflation</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="top"> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">UK</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000
      pa</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000
      pa</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000
      pa</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000
      pa</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="top"> <B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">directors</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pension</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pension</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pension</font></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">pension</font></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD valign="top"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Robert Adams<SUP>4</SUP></font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">389</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">391</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,465</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,573</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">108</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41</font></TD>
    <TD width=2% align="right" valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
        Elliott</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">256</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">291</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,915</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,781</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">866</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">385</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD valign="top"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Australian</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;&#146;000</font></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">director</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lump
      sum</font></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lump
      sum</font></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lump
      sum</font></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lump
      sum</font></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align=center valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
    <TD align="center" valign="bottom"><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD align="right" valign="top"><hr size="1" noshade></TD>
    <TD align=right valign="top"><hr size="1" noshade></TD>
    <TD valign="top"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR>
    <TD align=left valign="bottom" bgcolor="#eeeeee"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh Clifford<SUP>1,2</SUP></FONT></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,026</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,147</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,121</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(534</font></TD>
    <TD align="left" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,026</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,147</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,121</font></TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee">&nbsp; </TD>
    <TD align="right" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(534</font></TD>
    <TD align="left" valign="bottom" bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</font></TD>
  </TR>
  <TR align="right">
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"> <hr size="1" noshade></TD>
    <TD valign="top"><b><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="bottom">
    <TD><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</font></b></TD>
    <TD>&nbsp;</td>
  </tr>
  <tr align="left" valign="bottom">
    <td width="3%" align="left"> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</font></TD>
    <TD><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;76,538
      was credited to the account belonging to Leigh Clifford in the Rio Tinto
      Staff Superannuation Fund in relation to the</font> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">superannuable
      element of his 2005 performance bonus.</font></TD>
  </tr>
  <tr align="left" valign="bottom">
    <td align="left"> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2
      .</font></TD>
    <TD><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
         change in accrued benefit net of inflation for Leigh Clifford is the
        change
      net of the Rio Tinto Staff Superannuation Fund&#146;s investment</font>
      <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">return
      and allowing for contributions tax.</font></TD>
  </tr>
  <tr align="left" valign="bottom">
    <td align="left"> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3
      .</font></TD>
    <TD><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Transfer
      values are calculated in a manner consistent with &#147;Retirement Benefit
      Schemes &#8212; Transfer Values (GN 11)&#148; published by the</font> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Institute
      of Actuaries and the Faculty of Actuaries and dated 4 August 2003.</font></TD>
  </tr>
  <tr align="left" valign="bottom">
    <td height="12" align="left"> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4
      .</font></TD>
    <TD><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
      Adams died on 27 January 2005. The 2005 figures show his accrued benefits
      to 27 January 2005, and transfer value calculated at that</font> <font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">date.</font></TD>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">101</font></b></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p102"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>



<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="6" align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
      3 &#8211; Directors&#146; and </FONT><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">product
      group chief executive</FONT><FONT
size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">s&#146; beneficial
      interests in shares</FONT></B><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT></SUP></TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD colspan="5" align=center valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
    <TD colspan="5" align=center valign="bottom">&nbsp;</TD>
    <TD align=center valign="bottom">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=center><font size="2">&nbsp;</font></TD>
    <TD colspan="5" align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD colspan="5" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD colspan="5" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="5" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc </font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD colspan="5" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited </font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD colspan="5" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Movement</font></TD>
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="5" align=center valign="bottom"><hr size="1" noshade></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="5" align=center valign="bottom"><hr size="1" noshade></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="5" align=center valign="bottom"><hr size="1" noshade></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
        Jan</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      May</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      May</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exercise</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Compen-</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other<SUP>6</SUP></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005<SUP>2</SUP></FONT><b>
      </b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005<SUP>3</SUP></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005<SUP>2</SUP></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005<SUP>3</SUP></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      sation<SUP>5</SUP>&nbsp; </font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>&nbsp;</b></font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">options<sup>4</sup>
      </font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="center" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=center valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Directors</FONT></B>&nbsp;
      </font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
    <TD align=left><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Robert Adams<SUP>1</SUP></font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,243</font></TD>
    <TD width="2%" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,243</font></TD>
    <TD width="2%" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</font></TD>
    <TD width="2%" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width="6%" align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Ashton Calvert<SUP>1</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      David Clementi</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,100</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,100</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,100</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90,296</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">91,255</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">91,255</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">959</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Vivienne Cox<SUP>1</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">381</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Leon Davis<SUP>1</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,100</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,100</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">187,293</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">187,293</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Sir Rod Eddington<SUP>1</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Guy Elliott<SUP>8</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,888</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47,827</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47,969</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,007</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,006</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Sir Richard Giordano<SUP>1</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,065</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,065</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richard
      Goodmanson</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Gould</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lord
      Kerr</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,300</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,300</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,300</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
      Mayhew</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,500</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,500</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,500</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      John Morschel<SUP>1</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul
      Skinner</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,277</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,409</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,409</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">132</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Sykes</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,422</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,482</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,482</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#151;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Product
      group chief</FONT></B>&nbsp; <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">executives</font></b></font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Tom Albanese<SUP>1,8</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,023</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23,261</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,816</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">530</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,238</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Preston Chiaro<SUP>8</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,858</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,762</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,762</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55,272</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">632</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Oscar Groeneveld<SUP>7</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19,010</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(16,010</font></TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">)</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62,125</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">79,502</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">123,302</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,771</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">606</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Keith Johnson<SUP>8</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,501</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,236</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17,472</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">755</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Andrew Mackenzie<SUP>8</SUP></font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38,000</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39,197</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40,394</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">268</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">949</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,645</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,570</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,038</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,000</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,980</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">335</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade> </TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade> </TD>
    <TD align=left><font size="1">&nbsp;</font></TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left valign="bottom"><B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</font></b></TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=3% align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
         Adams died on 27 January 2005. Ashton Calvert and Vivienne Cox were
        appointed
      non executive directors on 1 February 2005. Leon Davis, Sir Richard Giordano
         and John Morschel retired on 29 April 2005. Sir Rod Eddington was appointed

      a non executive director on 1 September 2005. Tom Albanese was appointed
         as an executive director on 7 March 2006. He will continue as chief
        executive
      of the Copper group and head of Exploration until 1 July 2006 when he will
         be appointed director, Group Resources.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Or
      date of appointment if later.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Or
      date of retirement or resignation if earlier.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares
      obtained through the exercise of options under the Rio Tinto Share Savings
      Plan or the Rio Tinto Share Option Plan. The number of shares retained may
      differ from the number of options exercised.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares
      obtained through the Rio Tinto Share Ownership Plan and/or vesting of awards
      under the Mining Companies Comparative Plan.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares
      movement due to sale or purchase of shares, or shares received under the
      Dividend Reinvestment Plan.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar
      Groeneveld resigned as a director on 1 October 2004, when his holding in
      Rio Tinto plc shares was 19,010 and his holding in Rio Tinto Limited was
      32,012 shares.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">These
      executives also have an interest in a trust fund containing 835 Rio Tinto
      plc shares at 31 December 2005 (1 January 2005: 8,219 Rio Tinto plc shares)
      as potential beneficiaries of The Rio Tinto Share Ownership Trust. At 31
      May 2006 this trust fund contained 857 Rio Tinto plc shares.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares
      in Rio Tinto plc are ordinary shares of 10 pence each. Shares in Rio Tinto
      Limited are ordinary shares.</font></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F </FONT></I></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">102</font></b></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p104"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table 4 &#8211; Awards to executive directors and product group chief executives under long term incentive plans</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan="13" align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining
      Companies Comparative Plan</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD colspan="7" align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Plan
      terms and conditions</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD colspan="13"><hr size="1" noshade></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD colspan="7"><hr size="1" noshade></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Conditional</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Awarded<sup>3</sup></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2"><font face="TimesNewRomanPSMT,Times New
Roman,Times,serif">Lapsed</font><sup><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></sup></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vested</font><sup><font face="TimesNewRomanPSMT,Times New
Roman,Times,serif">3</font></sup></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Perfor-</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Monetary</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      2005<SUP>3</SUP></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      2005<SUP>10</SUP> </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mance</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2"> <SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">5
      </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">value
      of</FONT> </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">granted</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">period</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vests</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vesting</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vested</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">concludes</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;&#146;000</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive
      directors</font></b></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
      Jan</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Adams<SUP>2</SUP></FONT></TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1424</font></TD>
    <TD width=2% align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25,064</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,532</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,532</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2956</font></TD>
    <TD width=2% align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">640</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
      Jan</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,837</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,418</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,419</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2956</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">686</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
      Jan</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54,372</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35,341</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19,031</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2956</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">972</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">106,273</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,291</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">44,982</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,298</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clifford</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;39.60</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,435</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,435</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;30.69</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36,341</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36,341</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;33.17</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">119,581</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">119,581</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;47.39</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113,324</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113,324</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">190,357</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113,324</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,435</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">269,246</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Elliott</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1424</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,935</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,935</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,923</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,923</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,550</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,550</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,081</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,081</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">91,408</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,081</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,935</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,554</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="2" align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Product
      group chief executives</font></b></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17
      Feb</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Albanese</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1424</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20,169</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,127</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,042</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2867</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">252</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19,274</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19,274</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">56,015</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">56,015</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55,951</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55,951</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">95,458</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55,951</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,127</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,042</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">131,240</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">252</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17
      Feb</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chiaro</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1424</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,934</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,951</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,983</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2867</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">99</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,352</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,352</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46,995</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46,995</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,351</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,351</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62,281</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,351</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,951</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,983</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">96,698</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">99</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Groeneveld</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;39.60</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20,322</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20,322</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;30.69</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21,469</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21,469</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;33.17</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,785</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,785</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;47.39</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,024</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,024</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">85,576</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,024</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20,322</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110,278</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F </FONT></I></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">103</font></b></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p105"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table 4 &#8211; Awards to executive directors and product group chief executives under long term incentive plans</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="13"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining
      Companies Comparative Plan</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="7"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Plan
      terms and conditions</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="13"><hr size="1" noshade></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="7"><hr size="1" noshade></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Conditional</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Awarded
      <SUP>3</SUP></font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lapsed<sup>3</sup></font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vested<sup>3</sup></font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Perfor-</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Monetary</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      award</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      2005<SUP>3</SUP> </font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font>
    </TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      2005<SUP>10</SUP> </font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mance</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      <SUP>5 </SUP>value of</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">granted</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">period</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vests</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vesting</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vested</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">concludes</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;&#146;000</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17
      Feb</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Johnson</font></TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1424</font></TD>
    <TD width=2% align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,984</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,488</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,496</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2867</font></TD>
    <TD width=2% align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,186</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,186</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,387</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,387</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,556</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,556</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">44,557</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,556</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,488</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,496</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,129</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mackenzie</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1424</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,270</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,270</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,638</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,638</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,270</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,638</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53,908</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17
      Feb</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;39.60</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,627</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,471</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,156</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;71.65</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">220</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;30.69</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,884</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,884</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;33.17</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38,023</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38,023</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;47.39</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41,176</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41,176</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71,534</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41,176</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,471</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,156</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">96,083</font></TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left> </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">220</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="right" valign="bottom">
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="13"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining
      Companies Comparative Plan</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="7"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Plan
      terms and conditions</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="13"><hr size="1" noshade></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD colspan="7"><hr size="1" noshade></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD height="19" valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Conditional</FONT>
    </TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Awarded<SUP>3
      </SUP></FONT> </TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lapsed<SUP>3
      </SUP></font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vested<SUP>3
      </SUP></font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      May</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Perfor-</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Monetary</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006<SUP>3</SUP></FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006<SUP>10</SUP></FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mance</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      <SUP>5 </SUP>value of</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">granted</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">period</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vests</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vesting</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vested</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">concludes</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;&#146;000</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive
      directors</font></b></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Albanese<SUP>11</SUP></font></TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD width=2% align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD width=2% align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19,274</font></TD>
    <TD width=2% align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      19,274</font></TD>
    <TD width=2% align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD width=2% align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=2% align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=2% align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=6% align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD width=2% align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">56,015</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">56,015</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom" bgcolor="#eeeeee"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55,951</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      55,951</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2630</font></TD>
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,007</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      45,007</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">131,240</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,007</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">176,247</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clifford</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.69</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36,341</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      36,341</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.17</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">119,581</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">119,581</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.39</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113,324</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113,324</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      Dec</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.60</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84,661</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      84,661</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">269,246</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84,661</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      353,907</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align="right" valign="bottom"><font size="2">&nbsp;</font></TD>
    <TD align=right valign="bottom"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right valign="bottom"><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align="right"><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD align=right valign="bottom"><hr size="1" noshade></TD>
    <TD align=right valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F </FONT></I></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">104</FONT></b></TD>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p105"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
  4 &#8211; Awards to executive directors and product group chief executives under
  long term incentive plans</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD colspan="13"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining
      Companies Comparative Plan</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD colspan="7"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Plan
      terms and conditions</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD colspan="13"><HR noshade size=1></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD colspan="7"><HR noshade size=1></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Perfor-</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><p><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Monetary</font><font size="2"><SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
        5 </FONT></SUP><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">value
    of</FONT></font></p></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Conditional</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">mance</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Market
      </font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vested</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      May&nbsp; </font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">period</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price
      at</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">granted</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size="2"> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006<SUP>3</SUP></FONT>&nbsp;
      </font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Awarded<sup>3
      </sup></font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size="2"><font face="TimesNewRomanPSMT,Times New
Roman,Times,serif">Lapsed</font><font face="TimesNewRomanPSMT,Times New Roman,Times,serif"><sup>3</sup></font></font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size="2"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vested</font><font face="TimesNewRomanPSMT,Times New
Roman,Times,serif"><sup>3 </sup></font></font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><font size="2"> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006<SUP>10</SUP></FONT>&nbsp;
      </font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">concludes</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vests</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">vesting</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      US&#36;&#146;000</font></TD>
    <TD><b><font size="2">&nbsp;</font></b></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align="left"><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Elliott</font></TD>
    <TD width="2%" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD width="2%" align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,923</font></TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <font size="2">&#8212;</font></TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22,923</font></TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="2%" align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="6%" align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width="2%" align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,550</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,550</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,081</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,081</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2630</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40,670</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40,670</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,554</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40,670</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">166,224</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="23" align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Product
      group chief executives</FONT></B> </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chiaro</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,352</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,352</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46,995</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46,995</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,351</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,351</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2630</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,182</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,182</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">96,698</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,182</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">130,880</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Groeneveld</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.69</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21,469</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21,469</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.17</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,785</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,785</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.39</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,024</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45,024</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.60</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36,460</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36,460</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">110,278</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36,460</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">146,738</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Johnson</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,186</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,186</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,387</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,387</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,556</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,556</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2630</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,508</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,508</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,129</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26,508</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">98,637</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mackenzie</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1198</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1276</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,270</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,270</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1839</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,638</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,638</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2630</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,413</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,413</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53,908</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,413</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83,321</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam
      Walsh</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.69</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,884</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,884</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.17</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38,023</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38,023</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.39</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41,176</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41,176</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31</FONT>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.60</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,655</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,655</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">96,083</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,655</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">129,738</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right"><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><HR noshade size=1></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">105</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div>
<page> <a name="p106"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="left" valign="top">
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD colspan="2"> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD width=3%> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      Group&#146;s 10th place ranking against the comparator group for the MCCP
      2002 award will not generate any vesting of the conditional</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award
      to any participant who was an executive director at the time of the initial
      grant. However, product group chief executives, under this</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">particular
      cycle, will qualify for a 25 per cent vesting based on the scales applied
      to conditional awards made prior to 2004.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
      Adams died on 27 January 2005. Mr Adams&#146; MCCP shares vested on 28 January
      2005 based on the assumption that Rio Tinto</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">achieved
      median ranking on each of the outstanding performance cycles. This led to
      a 50 per cent vesting in respect of the 2002 and 2003</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">awards
      and a 35 per cent vesting in respect of the 2004 award. His personal representatives
      had one year to decide whether to take shares or</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">cash.
      A decision to take cash in lieu of shares was made on 25 January 2006 and
      the middle market price of Rio Tinto plc shares that day of</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2956p
      was used to calculate the cash payment.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Awards
      denominated in pence were in Rio Tinto plc ordinary shares of 10p each.
      Awards denominated in A&#36; were in Rio Tinto Limited</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ordinary
      shares.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      fair value of conditional awards granted in 2005 was 703p for Rio Tinto
      plc and A&#36;18.15 for Rio Tinto Limited shares.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      values of the vested awards have been based on a share price of 2867p for
      Rio Tinto plc ordinary shares of 10p each and A&#36;71.65 for</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited ordinary shares, being the closing prices on 17 February 2006.
      The amount in US dollars has been converted from sterling</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at
      the rate of 1.7406 and Australian dollars at the rate of 0.7382, being the
      exchange rates at close of business on that day.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      shares awarded under the MCCP 2001 last year vested on 21 February 2005
      but, as the performance cycle ended 31 December 2004,</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">they
      were dealt with in the 2004 </FONT><font size="1"><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual
      report and financial statements </FONT></I><FONT
face="TimesNewRomanPSMT,Times New Roman,Times,serif">as if they had vested on
      that date. The values of the awards in the</FONT></font> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004
      </FONT><font size="1"><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual
      Report and financial statements </FONT></I><FONT face="TimesNewRomanPSMT,Times
New Roman,Times,serif">were based on a share price of 1687p being the closing
      share price on 14 February 2005 for Rio</FONT></font> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      plc shares, the latest practicable date prior to the publication of the
      2004 </FONT><font size="1"><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual
      report and financial statements</FONT></I><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">.
      The actual share price</FONT></font> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">on
      21 February 2005, when the award vested to Guy Elliott was 1759p while on
      25 January 2006 when the cash payment was made to the</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">estate
      of Robert Adams it was 2956p with the result that the values of the awards
      had been understated in respect of Guy Elliott by US&#36;1,286</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      Robert Adams by US&#36;835,521.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford was given a conditional award over 113,324 Rio Tinto Limited shares
      during the year. These awards were approved by the</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shareholders
      under ASX Listing Rule 10.14 at the 2004 annual general meeting.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Conditional
      awards are awarded at no cost to the recipient and no amount remains unpaid
      on any shares granted. No awards would be vested</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      unexercisable at the reporting date.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A full
      explanation of the MCCP can be found on pages 89 to 90.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Or
      as the date of resignation or retirement if earlier.</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.</font></TD>
    <TD><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom
      Albanese was appointed as an executive director on 7 March 2006. He will
      continue as chief executive of the Copper group and head of</FONT> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exploration
      until 1 July 2006 when he will be appointed director, Group Resources.</font></TD>
  </TR>
</TABLE>
<P align="left">&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">106</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p107"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
  5 &#8211; Directors&#146; and product group chief executives&#146; options to
  acquire Rio Tinto plc and Rio Tinto Limited shares</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="right" valign="top">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested
      and</font> </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><p><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Value
              of&nbsp;<br>
        options&nbsp;</b></font></p></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD valign="bottom"><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Market</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="top">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested </FONT></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercised&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">price on</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Date from</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="top">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1 Jan
      </font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">during&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">on 31
      Dec</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31 Dec
      </font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">during&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date of</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">which first</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Expiry</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="top">
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">type<SUP>1</SUP>&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Granted&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exercised&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005<SUP>7</SUP>
      </font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005<SUP>5</SUP>
      </font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">price<SUP>3</SUP>
      </font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005<SUP>8</SUP>&nbsp;</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercise</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> exercisable</font></b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date</FONT>
    </b></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">      <HR noshade size=1>
    </TD>
    <TD><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
  <TR valign="bottom">
    <TD colspan=25 align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive
      directors</FONT></B> </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Adams<SUP>6</SUP></FONT>&nbsp;</TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">595</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">595</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">595</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">976</font></TD>
    <TD width=2% align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;3,617</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1584</font></TD>
    <TD width=2% align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
      Jan</font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27
      Jan </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">431</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">431</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">431</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">876</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
      Jan</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27
      Jan </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21,080</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21,080</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">21,080</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
      Jan</font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27
      Jan </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100,268</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100,268</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100,268</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1265.6</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">91,320</font></TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
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    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom">
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    <TD align=right>&nbsp;</TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">114,014</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">114,014</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">114,014</font></TD>
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    <TD align=left><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom">
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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  <TR valign="bottom">
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">77,700</font></TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2484</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD><font size="1">&nbsp;</font></TD>
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  <TR valign="bottom">
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    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clifford</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">959</font></TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">959</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">959</font></TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.86</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,923</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.25</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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  <TR valign="bottom">
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    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
      Jun </font></TD>
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    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,486</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,486</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29.04</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
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    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
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    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
      May </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,683</font></TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,683</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,683</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23.4382</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar
      </font></TD>
    <TD align=right>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59,318</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59,318</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59,318</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.069</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
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    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar
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  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,660</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,660</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,660</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,660</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.069</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
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  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241,430</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241,430</font></TD>
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    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241,430</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241,430</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.0106</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
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  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208,882</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208,882</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208,882</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208,882</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.8708</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">254,132</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align="right">&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">254,132</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.336</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">179,370</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">179,370</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.406</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar</font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">169,987</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">169,987</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.042</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
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    <TD><font size="1">&nbsp;</font></TD>
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    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leon</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28
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  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Davis</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">93,978</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">93,978</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">93,978</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23.4382</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
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  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
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  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
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    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
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    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Elliott</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1107</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,807</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,807</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,807</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;39,121</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1993</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,432</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,432</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,432</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1265.6</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;97,704</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1993</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar
      </font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,703</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,703</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,703</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,703</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1458.6</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97,387</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97,387</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73,700</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73,700</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,972</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,972</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">107</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p108"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
  5 &#8211; Directors&#146; and product group chief executives&#146; options to
  acquire Rio Tinto plc and Rio Tinto Limited shares</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><b>&nbsp;</b></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested
      and</font></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Value
      of</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">options</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Market</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested
      </FONT></B> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">on</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercised</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">price
      on</FONT></B></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Date
      from</FONT></B> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1</FONT></B>
      <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Jan</font></b>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">during</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31</FONT></B>
      <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dec</font></b>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31</FONT></B>
      <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dec</font></b>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">during</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date
      of </FONT></B> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      which first</font></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Expiry</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">type<SUP>1</SUP></FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"> <B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Granted</FONT></B>&nbsp;&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exercised</font></b>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>2005<SUP>7</SUP></B>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>2005<SUP>5</SUP></B>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>price<SUP>3</SUP></B>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005<SUP>8</SUP></FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercise</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</font></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="25" align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Product
    group chief executives</FONT></B></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Jan </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Albanese</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">530</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">530</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1150</font></TD>
    <TD width=2% align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD width=6% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27
      May </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27
      May
      </font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,142</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,142</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,142</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">820</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,382</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,382</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,382</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">808.8</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,530</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,530</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,530</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,766</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,766</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,766</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,766</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,718</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,718</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,718
      </font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,718</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1265.6</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,336</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,336</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,336
      </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,336</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1458.6</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar</font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">139,165</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">139,165</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84,020</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84,020</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
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    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
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    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83,926</font></TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83,926</font></TD>
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    <TD align=right> </TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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    <TD align=left>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
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  <TR valign="bottom">
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">490</font></TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">490</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1277</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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  <TR valign="bottom">
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
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    <TD align=right> </TD>
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    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27
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  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,021</font></TD>
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    <TD align="right">&nbsp;</TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">820</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;244,160</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2344</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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  <TR valign="bottom">
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    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
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    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
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    <TD bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,300</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,300</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">808.8</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;649,390</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2344</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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  <TR valign="bottom">
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    <TD align=right>&nbsp;</TD>
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    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
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    <TD align=right> </TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
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    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28,853</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
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    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28,853</font></TD>
    <TD align="right">&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
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    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2344</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
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  <TR valign="bottom">
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    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
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    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar
      </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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  <TR valign="bottom">
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14,427</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14,427</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14,427</font></TD>
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    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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      Mar
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  <TR valign="bottom">
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1265.6</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
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    <TD align=right>&nbsp;</TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
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  <TR valign="bottom">
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,515</font></TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1458.6</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;305,596</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2344</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
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    <TD align=right> </TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
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  <TR valign="bottom">
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    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,160</font></TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,160</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
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    <TD bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
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  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70,490</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70,490</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
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    <TD align=right>&nbsp;</TD>
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    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
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    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
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    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63,527</font></TD>
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    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
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    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63,527</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
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  <TR align="center" valign="top">
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    <TD><font size="1">&nbsp;</font></TD>
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  <TR valign="bottom">
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    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
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  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Groeneveld
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.48</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
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    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
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    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
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  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
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    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,771</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,771</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,771</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.069</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58,704</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51.42</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar
      </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80,920</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80,920</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80,920</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80,920</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.0106</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar
      </font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73,965</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73,965</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73,965</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.8708</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">854,237</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51.42</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90,080</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90,080</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.336</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62,600</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62,600</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.406</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> </TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64,321</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64,321</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.042</font></TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right" bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
      20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">108</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p109"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
  5 &#8211; Directors&#146; and product group chief executives&#146; options to
  acquire Rio Tinto plc and Rio Tinto Limited shares</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><b>&nbsp;</b></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><b>&nbsp;</b></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested
      and</FONT></B> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Value
      of</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">options</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Market</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested
      </FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">on</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercised</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">price
      on</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Date
      from</FONT></B> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option
      </FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">1
      Jan</font></b></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">during</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31</FONT></B>
      <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dec</font></b>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31</FONT></B>
      <b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dec</font></b>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">during</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date
      of</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">which
      first</FONT></B> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Expiry</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">type<SUP>1</SUP></FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;<b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Granted</font></b></font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><b><font face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exercised</font></b>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>2005<SUP>7</SUP></B>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>2005<SUP>5</SUP></B>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>price<SUP>3</SUP></B>
      </font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005<SUP>8</SUP></FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercise</FONT></B>&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date</FONT></B>
    </TD>
    <TD><font size="2">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
      Jun </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Johnson</font></TD>
    <TD width=2%>&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
    <TD width=2% align="right">&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
    <TD width=2% align="right">&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right">&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right">&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right">&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
    <TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">876</font></TD>
    <TD width=2% align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD width=5% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right">&nbsp;</TD>
    <TD width=5% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align="right">&nbsp;</TD>
    <TD width=7% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
    <TD width=7% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,855</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,855</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,855</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,855</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,667</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,667</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,667</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,667</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1265.6</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
    Mar</font> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,595</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,595</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,595</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,595</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1458.6</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> 2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD height="20" align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,231</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,231</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,500</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,500</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47,937</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47,937</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
      Jun </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mackenzie<SUP>10</SUP></FONT>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,021</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,021</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1576</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53,769</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53,769</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
      Jun </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Walsh</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25.57</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30
      Jun </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">601</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">601</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.92</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> &nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49,983</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49,983</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49,983</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49,983</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.0106</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
    Mar</font> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,194</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,194</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,194</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,194</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.8708</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> 2005</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75,863</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75,863</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.336</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22
      Apr </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54,400</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54,400</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.406</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> </TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9
      Mar </font></TD>
    <TD align=right>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58,823</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58,823</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.042</font></TD>
    <TD align=left>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD align="right">&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR align="center" valign="top">
    <TD colspan="25">
      <HR noshade size=1>
    </TD>
    <TD><font size="1">&nbsp;</font></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">109</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p110"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table
  5 &#8211; Directors&#146; and product group chief executives&#146; options to
  acquire Rio Tinto plc and Rio Tinto Limited shares</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;
	</font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested
    and</font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
Value of&nbsp;
	</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b>
    <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</FONT>
	</b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>options&nbsp;</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Market</FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested </FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">on</FONT>
</b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="1"><b>
<FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercised</FONT></b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">price
	      on </FONT></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Date
	      from</FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  <TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b> Option&nbsp; </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      1 Jan </font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b> during&nbsp; </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="1"><b>
    <FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31 May</FONT>
	</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="1"><b> <FONT size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31 May</FONT> </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option</FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
during&nbsp;
	</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date
	      of </FONT></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">which
	      first</font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Expiry</FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b> type<SUP>1</SUP>&nbsp; </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2006</FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b> Granted&nbsp; </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b> 2006&nbsp; </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exercised</font></b> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      2006<SUP>7</SUP> </font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      2006<SUP>5</SUP> </font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      price<SUP>3 </SUP> </font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
2006<SUP>8</SUP>&nbsp;
	</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercise</FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</font> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date</FONT> </b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR>
	<TD colspan=2 align=left valign="bottom">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive directors</FONT></B></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=center valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom</font></TD>
	<TD width=6% align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD width=2% valign="bottom">&nbsp;
	</TD>
	<TD width=6% align=left valign="bottom">

	</TD>
	<TD width=2% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=6% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=2% valign="bottom">&nbsp;
	</TD>
	<TD width=6% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=2% valign="bottom">&nbsp;
	</TD>
	<TD width=6% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=2% valign="bottom">&nbsp;
	</TD>
	<TD width=6% align=left valign="bottom">

	</TD>
	<TD width=2% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=6% align=left valign="bottom">

	</TD>
	<TD width=2% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=6% align=left valign="bottom">

	</TD>
	<TD width=2% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=6% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=2% valign="bottom">&nbsp;
	</TD>
	<TD width=6% align=left valign="bottom">

	</TD>
	<TD width=2% align=left valign="bottom">&nbsp;

	</TD>
	<TD width=6% align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD width=2% align=left valign="bottom">&nbsp;</TD>
	<TD width=6% align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Jan</font></TD>
	<TD width=2% align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Albanese<SUP>11</SUP></FONT>&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">530</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">530</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1150</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;7,987</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2657</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27 May</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27 May</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,142</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,142</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,142</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">820</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,382</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,382</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12,382</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">808.8</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,530</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,530</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7,530</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,766</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,766</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,766</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,718</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,718</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102,718</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1265.6</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,336</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,336</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,336</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1458.6</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">139,165</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">139,165</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">139,165</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">139,165</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84,020</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84,020</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83,926</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83,926</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67,511</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67,511</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2711.2</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
<TR>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 Jun</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Clifford</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,486</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,486</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29.04</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28 May</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28 May</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,683</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,683</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,683</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23.4382</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59,318</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59,318</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59,318</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.069</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,660</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,660</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29,660</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.069</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241,430</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241,430</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">241,430</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.0106</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208,882</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208,882</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208,882</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.8708</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">254,132</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">254,132</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">254,132</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">254,132</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.336</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">179,370</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">179,370</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.406</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">169,987</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">169,987</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.042</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">126,992</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">126,992</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.06</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
<TR>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom"></TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
  <TD align=right valign="bottom">&nbsp;</TD>
  <TD align=left valign="bottom">&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 Jun</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Elliott</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1107</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,703</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,703</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">61,703</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1458.6</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97,387</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97,387</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97,387</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97,387</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left valign="bottom">&nbsp; </TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73,700</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73,700</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR bgcolor="#eeeeee">
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,972</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72,972</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=left valign="bottom">

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left valign="bottom">&nbsp;</TD>
  </TR>
<TR>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58,100</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58,100</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2711.2</font></TD>
	<TD align=left valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD valign="bottom">&nbsp;
	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
	<TD align=right valign="bottom">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left valign="bottom">&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">110</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p111"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table 5 &#150; Directors&#146; and product group chief executives&#146; options to acquire Rio Tinto plc and Rio Tinto Limited shares</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested<br>
and</FONT></B>
	</TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B> Value
of<br>
options</B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Market</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>Vested </B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</FONT></B>
	</TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>exercised</B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">price
	      on </FONT></B></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Date
	      from</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>Option</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>1
	        Jan </B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>during</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
    <B>on 31
    May</B>	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <b>31 May </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Option</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>during</B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date
	      of </FONT></B></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">which
	      first</font></b> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Expiry</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>type<SUP>1</SUP></B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>2006</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Granted</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>2006</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Exercised</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2006<SUP>7</SUP></B> </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>2006<SUP>5</SUP></B> </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      <B>price<SUP>3</SUP></B> </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>2006<SUP>8</SUP></B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercise</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</font></b> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD colspan=6 align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Product group chief executives</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Preston</font></TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>&nbsp;

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>&nbsp;

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>&nbsp;

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>&nbsp;

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>

	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
	<TD width=6% align=left>&nbsp;

	</TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=6% align=left>

	</TD>
	<TD width=2% align=left>&nbsp;

	</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD width=2% align=left>&nbsp;</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5 Jan</font></TD>
	<TD width=2% align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chiaro</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">490</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">490</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1277</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,160</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,160</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,160</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,160</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70,490</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70,490</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63,527</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63,527</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,274</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51,274</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2711.2</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oscar</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 Jun</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Groeneveld </font></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,431</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.48</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80,920</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80,920</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.0106 </font></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,184,963</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72.37</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90,080</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90,080</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90,080</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">90,080</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.336</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62,600</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62,600</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.406</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64,321</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64,321</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.042</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,086</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52,086</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.06</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Keith</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> 1 Jan</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 Jun</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Johnson</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">876</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;21,528</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2873</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> 7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,855</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,855</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">965.4</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;68,488</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2742</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2010</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,667</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11,667</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1265.6</font></TD>
	<TD align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;172,252</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2742</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,595</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,595</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1458.6</font></TD>
	<TD align=left><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;135,976</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2742</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left bgcolor="#eeeeee">

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,231</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,231</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,231</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1263</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#163;240,056</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2742</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,500</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43,500</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1329</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47,937</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47,937</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,869</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,869</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2711.2</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=right>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left></TD>
  <TD align=left>&nbsp;</TD>
  <TD align=left></TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 Jun</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mackenzie<sup>10</sup></font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,021</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,021</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1576</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53,769</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53,769</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1826.2</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,019</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,019</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2711.2</font></TD>
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">p</font></TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">111</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p112"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Table 5 &#150; Directors&#146; and product group chief executives&#146; options to acquire Rio Tinto plc and Rio Tinto Limited share</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested
    and</font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>Value of</B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</FONT></B>
	</TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">options</font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>Market</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Vested </FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">on</FONT></B>
	</TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>exercised</B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">price
	      on </FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Date
	      from</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>Option</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>1</B> <B>Jan</B> </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>during</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b>
    <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">31 May</FONT>
	</b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>
      31 May </b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>Option</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>during</B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date
	      of </FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">which
	      first</font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Expiry</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
<TR align="right" valign="bottom">
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>type<SUP>1</SUP></B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2006</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>Granted</B></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>2006</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Exercised</b></font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      2006<SUP>7</SUP> </font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
      2006<SUP>5</SUP> </font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>price<SUP>3 </SUP></B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
<B>2006<SUP>8</SUP></B>&nbsp;
	</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"> <B>exercise</B>&nbsp; </font></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">exercisable</font></b></TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">date</FONT></B> </TD>
	<TD><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sam</font></TD>
	<TD width="6%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="6%" align=left>

	</TD>
	<TD width="2%" align=left>&nbsp;

	</TD>
	<TD width="6%" align=left>&nbsp;

	</TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="6%" align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="6%" align=left>&nbsp;

	</TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="6%" align=left>

	</TD>
	<TD width="2%" align=left>&nbsp;

	</TD>
	<TD width="6%" align=left>

	</TD>
	<TD width="2%" align=left>&nbsp;

	</TD>
	<TD width="6%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="6%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="6%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD width="2%">&nbsp;
	</TD>
	<TD width="6%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD width="2%" align=left>&nbsp;</TD>
	<TD width="6%" align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 Jun</font></TD>
	<TD width="2%" align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Walsh</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SSP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,078</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25.57</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53,512</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.21</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 Jan</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30 Jun</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">601</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">601</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.92</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTL</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SOP</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49,983</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49,983</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49,983</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.0106 </font></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,464,632</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">82.32</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2011</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,194</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,194</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60,194</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.8708 </font></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,555,187</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">82.32</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2012</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75,863</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75,863</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75,863</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75,863</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.336 </font></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,716,073</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">82.32</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2013</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">22 Apr</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54,400</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54,400</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.406</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2007</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2014</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58,823</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58,823</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.042</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2008</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2015</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7 Mar</font></TD>
	<TD align=left>&nbsp;</TD>
  </TR>
<TR valign="bottom">
	<TD align=left>&nbsp;

	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48,079</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48,079</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.06</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2009</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2016</font></TD>
	<TD align=left>&nbsp;

	</TD>
  </TR>
<TR>
  <TD colspan="24" align=left valign="bottom"><hr size="1" noshade>
  </TD>
  <TD align=left valign="bottom"><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
  <TD colspan="2" align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left><B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B>
	</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR align="left" valign="top">
	<TD width=3%>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Rio Tinto
plc Share Option Plan (&#147;RTPSOP&#148;), Rio Tinto Limited Share Option Plan
(&#147;RTLSOP&#148;), Rio Tinto plc Share Savings Plan </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(&#147;RTPSSP&#148;)
and Rio Tinto Limited Share Savings Plan (&#147;RTLSSP&#148;) grant options over
ordinary shares. Rio Tinto plc &#8212; ordinary shares of </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10p each stated in pence sterling; Rio Tinto Limited ordinary shares &#8212; stated in A&#36;. Each option is granted over one share.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The closing
price of Rio Tinto plc ordinary shares at 31 December 2005 was 2655p (2004: 1533p)
and the closing price of Rio Tinto Limited </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shares at 31
December 2005 was A&#36;69.00 (2004: A&#36;39.12). The highest and lowest prices
during the year were 2657p and 1472p </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">respectively for Rio Tinto plc and A&#36;69.10 and A&#36;38.82 for Rio Tinto Limited.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</font></TD>
	<TD rowspan="2">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The option
price represents the exercise price payable on the options. No amount was paid
or payable by the recipient at the date of grant. No </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">amounts are unpaid on any shares allocated on the exercise of the options.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No options lapsed during the year.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Or at date of retirement or resignation if earlier.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.</font></TD>
	<TD rowspan="2">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In accordance
with the Plan rules, Robert Adams&#146; outstanding options became exercisable
with immediate effect following his death. His </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">award of options under the 2004 grant was reduced by 17,881 to 59,819 options.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under the plans no options would be vested and unexercisable at the reporting date.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.</font></TD>
	<TD rowspan="2">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The value of
options exercised is calculated by multiplying the number of options exercised
by the difference between the market price and </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the option price on date of exercise.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The fair value
per option, granted during 2005, at date of grant was as follows: RTPSSP three
year contract 866p and five year contract 945p; </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTLSSP three
year contract A&#36;20.96 and five year contract A&#36;23.18; RTPSOP 409p; RTLSOP
A&#36;8.93. On 7 October 2005, Andrew </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mackenzie was
granted a five year option under the RTPSSP and Sam Walsh was granted a three
year option under the RTLSSP. The </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTPSOP and
RTLSOP options were granted on 9 March 2005 .</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>

	</TD>
	<TD rowspan="2">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The fair value
per option, granted during 2006, at date of grant was as follows: RTPSOP 740p
and RTLSOP A&#36;17.09. The RTPSOP and </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTLSOP options were granted on 7 March 2006.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.</font></TD>
	<TD rowspan="2">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Phantom options
over 40,216 Rio Tinto plc ordinary shares were granted to Andrew Mackenzie at
a price of 1329p per share, exercisable </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">between 22 April 2007 and 22 April 2014.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.</font></TD>
	<TD rowspan="2">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tom Albanese
was appointed as an executive director on 7 March 2006. He will continue as chief
executive of the Copper group and head of </FONT>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exploration until 1 July 2006 when he will be appointed director, Group Resources.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>

	</TD>
  </TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">112</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p113"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CORPORATE GOVERNANCE</FONT></B></P>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
  directors of Rio Tinto believe that high standards of corporate governance are
  critical to business integrity and performance. The following report describes
  how this philosophy is applied in practice.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As Rio Tinto&#146;s three main listings are in London, Melbourne and New York, the directors have referred to the Combined Code, published by the UK
  Financial Reporting Council (the Code), the Australian Stock Exchange (ASX) Best Practice Corporate Governance Guidelines and the New York Stock Exchange (NYSE) Corporate Governance Listing Standards, as well as the Sarbanes-Oxley Act of 2002, when
  formulating this statement.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">During 2005, Rio Tinto applied the principles contained in Part 1 of the Code. The detailed provisions of Section 1 of the Code have been complied with
  as described below. Rio Tinto also complied with the ASX Best Practice Corporate Governance Guidelines. A statement on compliance with the New York Stock Exchange&#146;s Corporate Governance Listing Standards is set out on page 117.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">The board
</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Companies have common boards of directors which are collectively responsible for the success of the Group and accountable to shareholders for the performance of the business.
  Throughout the rest of this report, they will be described as the board.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The board currently consists of 14 directors: the chairman, three executive directors and ten non executive directors. The </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Nominations committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">continually assesses the balance of executive and non executive directors and the
composition of the board in terms of the skills and diversity required to ensure it remains relevant in the current environment. The skills, experience and expertise of each director together with their terms in office are shown in the biographical
details on pages 81 to 85.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">The role and responsibilities of the board</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The role of the board is to provide the Group with good governance and strategic direction. The board also reviews the Group&#146;s control and accountability framework. The directors
  have agreed to a formal schedule of matters specifically reserved for decision by the board, including strategy, major investments and acquisitions. The full list is available on Rio Tinto&#146;s website.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Responsibility for day to day management of the business lies with the executive team, with the board agreeing annual performance targets for management
against the Group&#146;s financial plan. The board is ultimately accountable to shareholders for the performance of the business.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To ensure an efficient process, the board meets regularly and in 2005 had eight scheduled and three special meetings. Details of directors&#146;
attendance at board and committee meetings are set out on page 114.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The board has regular scheduled discussions on aspects of the Group&#146;s strategy and, in line with best practice, a dedicated annual two day meeting
at which in depth discussions of Group strategy take place.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Directors receive timely, regular and necessary management and other information to enable them to fulfil their duties. The board has agreed a procedure
for the directors to have access to independent professional advice at the Group&#146;s expense and to the advice and services of both company secretaries.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In addition to these formal processes, directors are in regular communication with senior executives from the product groups, at both formal and informal
meetings, to ensure regular exchange of knowledge and experience between management and non executive directors. To continue building on the formal induction programmes, which all new non executive directors undertake, they are encouraged to take
every opportunity to visit the Group&#146;s operating locations.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The chairman also holds regular meetings with non executive directors without the executive directors present.</FONT></P>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">113</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p114"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Directors&#146; attendance at board and committee meetings during 2005</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      Committee on</font></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">social
      and</FONT></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Audit</FONT></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Remuneration</font></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">environmental</FONT></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Nominations</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;Board</font>    </TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">committee</FONT></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">committee</FONT></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan=3 align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accountability</FONT></TD>
    <TD align="right"><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD colspan="3" align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">committee</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B</FONT></TD>
    <TD width=2%><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></b></TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="20" align=left><hr size="1" noshade>
    </TD>
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert
      Adams</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</FONT></SUP>&nbsp;
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ashton
      Calvert<SUP>2, 6</SUP></font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      David Clementi</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leigh
      Clifford</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vivienne
      Cox<SUP>2, 5 </SUP></font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leon
      Davis</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></SUP>&nbsp;
    </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Rod Eddington<SUP>4, 7</SUP></font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Guy
      Elliott</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Giordano</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></SUP>&nbsp;
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Richard
      Goodmanson</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Andrew
      Gould</font></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Lord
      Kerr</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David
      Mayhew</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</FONT></SUP>&nbsp;
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">John
      Morschel</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></SUP>&nbsp;
    </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul
      Skinner</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</FONT></SUP>&nbsp;
    </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir
      Richard Sykes</font></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="20" align=left><hr size="1" noshade>
    </TD>
    <TD align=left><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD colspan=2 align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A = Maximum number of meetings the director could have attended</font></TD>
</TR>
<TR valign="bottom">
	<TD colspan=2 align=left>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">B = Number of meetings attended</font></TD>
</TR>
<TR align="left" valign="top">
  <TD colspan="2">&nbsp;</TD>
</TR>
<TR align="left" valign="top">
	<TD colspan="2">
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B>	</TD>
  </TR>
<TR align="left" valign="top">
	<TD width="3%">
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Robert Adams died on 27 January 2005.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vivienne Cox and Ashton Calvert were appointed on 1 February 2005.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Leon Davis, Sir Richard Giordano and John Morschel retired on 29 April 2005.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir Rod Eddington was appointed on 1 September 2005.</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Vivienne Cox became a committee member on 27 April 2005 (Audit).</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ashton Calvert became a committee member on 1 February 2005 (Nominations and CSEA).</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sir Rod Eddington became a committee member on 1 September 2005 (Nominations and CSEA).</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul Skinner ceased to be a committee member on 7 June 2005 (CSEA).</font></TD>
</TR>
<TR align="left" valign="top">
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.</font></TD>
	<TD>
<FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">David Mayhew ceased to be a committee member on 31 July 2005 (Audit).</font></TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Board
performances</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2005, the board conducted a further formal process to evaluate its effectiveness and that of the board committees and individual directors.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Each director&#146;s performance was appraised by the chairman and, in a meeting chaired by the senior non executive director the non executive directors
assessed the chairman&#146;s performance, taking into consideration the views of executive colleagues.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The evaluation process takes place annually and aims to cover board dynamics, board capability, board process, board structure, corporate governance,
strategic clarity and alignment and the performance of individual directors. The directors believe that, through this evaluation process, they comply with the requirements of Clause A.6 of the Code, Principle 8 of the ASX Best Practice Corporate
Governance Guidelines and the relevant sections of the NYSE Code.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Independence</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The board has adopted a policy on directors&#146; independence. The policy, which contains the materiality thresholds approved by the board, can be viewed on the Rio Tinto
website.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The tests of director independence in the jurisdictions where Rio Tinto is listed are not wholly consistent. The board has, therefore, adopted the
following criteria for independence: Independence of management, the absence of any business relationship which could materially interfere with the director&#146;s independence of judgement and ability to provide a strong, valuable contribution to
the board&#146;s deliberations or which could interfere with the director&#146;s ability to act in the best interest of the Group. Where contracts in the ordinary course of business exist between Rio Tinto and a company in which a director has
declared an interest, these are reviewed for materiality to both Companies. Applying these criteria, the board is satisfied that the majority of the non executive directors, Sir David Clementi, Sir Rod Eddington, Richard Goodmanson, Andrew Gould,
Lord Kerr, Sir Richard Sykes, Ashton Calvert and Vivienne Cox are independent. David Mayhew, who is chairman of one of Rio Tinto plc&#146;s stockbrokers, is not independent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul Skinner was, until his appointment as chairman in 2003, an independent, non executive director in compliance with the Code. He satisfies the tests
for independence under the ASX Best Practice Corporate Governance Guidelines and the NYSE Code.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
directors&#146; biographies are set out on pages 81 to 85.</FONT></P>

<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size="2" face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">114</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div><page><a name="p115"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Election and re-election</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Directors are elected by shareholders at the first annual general meetings after their appointment and, after that, offer themselves for re-election at least once every three years.
Non executive directors are normally expected to serve at least two terms of three years and, except where special circumstances justify it, would not normally serve more than three such terms.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Chairman and chief executive</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The roles of the chairman and chief executive are separate and the division of responsibilities has been formally approved by the board.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Board committees</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There are four board committees,the <i>Audit
      committee, Remuneration committee, Nominations committee</i> and the<i> Committee on social and environmental accountability.</i> </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Each committee plays a vital role in
ensuring that good corporate governance is maintained throughout the Group. Committee terms of reference are reviewed annually by the board and the committees themselves to ensure they continue to be at the forefront of best practice; and are posted
on the Group&#146;s website. Minutes of all committee meetings are circulated to the board, with oral reports at the next board meeting. All committee members are non executive directors.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit
committee&#146;s </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">main responsibilities include
the review of accounting principles, policies and practices adopted in the preparation
of public financial information; review with management of procedures relating
to financial and capital expenditure controls, including internal audit plans
and reports; review with external auditors of the scope and results of their
audit; the nomination of auditors for appointment by shareholders; and the review
of and
recommendation to the board for approval of Rio Tinto&#146;s risk management
policy. Its responsibilities also include the review of corporate governance
practices of Group sponsored pension funds. The committee has a number of training
sessions which may cover new legislation and other relevant information. The
external auditors, the finance director, the Group controller and Group internal
auditor attend meetings. A copy of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times
New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">charter is reproduced on pages 120 to 121 and can be found on the Rio Tinto website.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">is chaired by Andrew Gould and its members are Sir David Clementi, Vivienne Cox and Lord Kerr. David Mayhew attends in an advisory capacity.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Remuneration committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">is responsible for determining
the policy for executive remuneration and for the remuneration and benefits of
individual executive directors and senior executives. Full disclosure of all
elements
of directors&#146; and relevant senior executives&#146; remuneration can be found in the Remuneration report on pages 87 to 97, together with details of the Group&#146;s
remuneration policies. The committee is chaired by Sir Richard Sykes and its
members are Sir David Clementi, Andrew Gould and Richard Goodmanson.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Nominations committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">is chaired by the chairman of Rio Tinto, Paul Skinner. The committee is responsible, on behalf of the board, for ensuring that a suitable process is in place to meet the recruitment requirements
of the board. It reviews the mix, structure and experience of the board and the desired profiles of potential candidates for membership. In consultation with external search consultancies it oversees the review and recruitment process to meet
vacancies as they arise. The recruitment process itself includes identification of suitable candidates, followed by a formal assessment of each candidate, leading to a final selection process. Proposals for new members are submitted to the full
board for approval.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The committee also reviews the time required to be committed to Group business by non executive directors and assesses whether non executive directors
are devoting sufficient time to carry out their duties. In addition to Paul Skinner, the committee consists of Ashton Calvert, Sir Rod Eddington, David Mayhew and Sir Richard Sykes. Under the Code, two members of the committee are not considered
independent: Paul Skinner, following his appointment as chairman, and David Mayhew. The Code specifically allows the chairman to chair the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Nominations committee,
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">but, nevertheless, the committee composition is not fully aligned with recommended practice in the UK. The board takes the view, however, that the skills and experience of
the members of the committee makes the current composition both efficient and effective.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Committee on social and environmental accountability
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reviews the effectiveness of management policies and procedures in place to deliver those standards in </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">The way we work, </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto&#146;s statement of business practice, which are not covered by the other
board committees and, in particular, those relating to health, safety, the environment
and social issues. The overall objective of the committee is to promote the development
of high quality business practices throughout the Group and to develop the necessary
clear accountability on these practices.
Members of the committee, which is chaired by Richard Goodmanson, are Ashton
Calvert, Sir Rod Eddington and Lord Kerr.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Executive directors&#146; other directorships</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Executive directors are likely to be invited to become non executive directors of other companies. For full details of the Group policy and fees, see pages 95 to 96.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Directors&#146; dealings in shares</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has a Group policy in place to govern the dealing in Rio Tinto securities by directors and employees. The policy, which prohibits dealings when in possession of price
sensitive information and shortly before a results announcement, can be viewed on the Rio Tinto website.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">115</font></b></td>
  </tr>
</table>

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<div style="page-break-before:always"></div><page><a name="p116"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Communication</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto recognises the importance of effective communication with shareholders and the general investment community. To ensure shareholders are kept informed in a timely manner, the
Group has adopted an </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">External disclosure guidance, </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which is posted on the website
appended to the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Corporate governance guidance</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to statutory documents, Rio Tinto has a comprehensive website featuring
in depth information on health, safety and the environment, as well as general
investor information and Group policies. Results presentations and other significant
events are available as they happen and as an archive on the website.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group also produces a range of informative publications, which are available on request. For further details, see the website.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Full
advantage is taken of the annual general meetings to inform shareholders of current
developments and to give shareholders the opportunity to ask questions. As recommended
by the ASX Best Practice Corporate Governance Guidelines, Rio Tinto Limited&#146;s external auditor attends the annual general meeting and is available to answer shareholder questions about the conduct of the audit and the
preparation and content of the auditor&#146;s report. Rio Tinto Limited shareholders are also able to submit written questions regarding the statutory audit report to the auditors via the Company. Any questions received and answers provided will be
made available to the members at the Rio Tinto Limited annual general meeting in May 2006. Rio Tinto plc&#146;s
auditors will as usual attend the annual general meeting in London and will be
available to respond to audit related shareholder
questions.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
main channels of communication with the general investment community are through
the chairman, chief executive and finance director, who conduct regular meetings
with the Companies&#146; major shareholders. The senior independent director
and other non executive directors are also available as appropriate.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group organises regular investor seminars which provide a two way communication
with investors and analysts; the valuable feedback is communicated to the board.
An annual survey of major shareholders&#146; opinion and perception of the Group is presented to the board by the Group&#146;s
investor relations advisors.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Statement of business practice</FONT></B><br>
<I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The way we work </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">provides the directors and all Group employees with a summary of the principal
policies and procedures in place to help ensure that high governance and business standards are communicated and achieved throughout the Group.<br>
</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Main
policies are adopted by the directors after wide consultation, externally and
within the Group. Once adopted, they are communicated to business units worldwide,
together with guidance and support on implementation. Business units are then
required to devote the necessary effort by management to implement and report
on these policies.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The following policies are currently in place: sustainable development; health, safety and the environment; communities; human rights; access to land;
employment; political involvement; and business integrity; while guidance documents have been issued for corporate governance; compliance; external disclosures, including continuous disclosure, antitrust and code of ethics covering the preparation
of financial statements and risk analysis. These policies and guidances apply to all Rio Tinto managed businesses.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There
is also a Groupwide &#147;whistle blowing&#148; programme called </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Speak-OUT. </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Employees
are encouraged to report any concerns, including any suspicion of a violation
of the Group&#146;s financial reporting and
environmental procedures, through an independent third party and without fear
of recrimination. A process has been established for the investigation of any
matters reported with clear lines of reporting and responsibility in each Group
business.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Where
the Group does not have operating responsibility for a business, Rio Tinto&#146;s
policies are communicated to the business partners and they are encouraged to
adopt similar policies of their own.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto&#146;s report on social and environmental matters follows the Association of British Insurers&#146; guidelines. This report can be found on
pages 76 to 80. Details of the Group&#146;s overall and individual businesses&#146; social and environmental performance continue to be published on Rio Tinto&#146;s
website and in the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Sustainable development review</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Responsibilities of the directors</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The directors are required to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Group as at the end of the
financial period and of the profit or loss and cash flows for that period. This includes, in respect of Rio Tinto plc, preparing financial statements in accordance with UK company law which give a true and fair view of the state of the
Company&#146;s affairs, and for preparing a Remuneration report which includes the information required by Part 3 of Schedule 7A to the UK Companies Act 1985 and Australian Accounting Standard AASB 124 &#147;Related Party Disclosures&#148;. To
ensure that these requirements are satisfied, the directors are responsible for establishing and maintaining adequate internal controls and procedures for financial reporting throughout the Group.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
directors consider that the 2005 Annual report and financial statements present
a true and fair view and have been prepared in accordance with applicable accounting
standards, using the most appropriate accounting policies for Rio Tinto&#146;s
business and supported by reasonable and prudent judgements and estimates. The
accounting policies have been consistently applied.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
directors have received a written statement from the chief executive and the
finance director to this effect. In accordance with ASX Best Practice Recommendation
7.2, this written statement relies on a sound system of risk management and internal
compliance and controls which implements the policies adopted by the board and
confirms that the Group&#146;s risk management and internal compliance
and control systems are operating efficiently and effectively in all material
respects.</FONT></P>
<p>&nbsp;</p>
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    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">116</FONT></b></td>
  </tr>
</table>
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<P><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The directors, senior executives, senior financial managers and other members of staff who are required to exercise judgement in the course of the
preparation of the financial statements are required to conduct themselves with integrity and honesty and in accordance with the ethical standards of their profession and/or business.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The directors are responsible for maintaining proper accounting records, in accordance with the UK Companies Act 1985 and the Australian Corporations Act
2001. They have a general responsibility for taking such steps as are reasonably open to them to safeguard the assets of Group and to prevent and detect fraud and other irregularities The directors are also responsible for the maintenance and
integrity of the Group&#146;s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The work carried out by the auditors does not involve consideration
of this and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially available on the website.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Going concern</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The financial statements have been prepared on the going concern basis. The directors report that they have satisfied themselves that the Companies and the Group are a going concern
since they have adequate financial resources to continue in operational existence for the foreseeable future.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Boards&#146; statement
      on internal control</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto&#146;s overriding corporate objective is to maximise long term shareholder
      value through responsible and sustainable investment in mining and related
      assets. The directors  recognise that creating shareholder value is the
      reward for taking and accepting risk.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      directors are responsible for the Group&#146;s system of internal controls
      and for reviewing its effectiveness in providing shareholders with a return
      on their investments that is consistent with a responsible assessment and
      mitigation of risks. This includes reviewing financial, operational and
      compliance controls, and risk management procedures. Because of the limitations
      inherent in any
such system this is designed to manage rather than eliminate risk. </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Accordingly, it provides reasonable but not absolute assurance against material misstatement or loss.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The directors have established a process for identifying, evaluating and managing the significant risks faced by the Group. This process was in place
during 2005 and up to and including the date of approval of the 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual report and financial statements. </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">The process is reviewed annually by the directors and accords with the guidance set out in </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Internal Control: Guidance for Directors
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">on the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Combined Code.</FONT></I><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Two
of the Group&#146;s management committees, the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Executive committee
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Disclosures and procedures committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">regularly review information
related to the Group&#146;s control framework. This information is presented
to the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
enable its members to assess the effectiveness of the internal controls. In addition,
the board and their committees monitor the
Group&#146;s significant risks on an ongoing basis.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Assurance functions, including internal auditors and health, safety and environmental auditors, perform reviews of control activities and provide regular
written and oral reports to directors and management committees. The directors receive and review minutes of the meetings of each board committee, in addition to oral reports from the respective chairmen at the first board meeting following the
relevant committee meeting.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Certain risks, for example natural disasters, cannot be mitigated to an acceptable degree using internal controls. Such major risks are transferred to
third parties in the international insurance markets, to the extent considered appropriate.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Each
year, the leaders of the Group&#146;s businesses and administrative offices complete an internal control questionnaire that seeks to confirm that
adequate internal controls are in place and operating effectively. The results of this process are reviewed by the executive committee and it is then presented to the board as a further part of their review of the Group&#146;s
internal controls.
This process is continually reviewed and strengthened as appropriate.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In 2002, the Group also established a </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Disclosure and procedures
committee, </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which was tasked with reviewing the adequacy and effectiveness of Group controls and procedures over the public disclosure of financial and related information.
The committee has been presenting the results of this process to the directors and will continue to do so.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Group has material investments in a number of joint ventures and associated companies.
Where Rio Tinto does not have managerial control, it cannot guarantee that local
management of mining assets will comply with Rio Tinto standards or objectives.
Accordingly, the review of their internal controls is less comprehensive than
that for the Group&#146;s managed operations.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">The New York Stock Exchange</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In November 2003, the SEC approved the new corporate governance listing standards of the New York Stock Exchange (NYSE). The Company, as a foreign issuer with American Depositary
Shares listed on the NYSE, is obliged to disclose any significant ways in which its corporate governance practices differ from these standards.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Company has reviewed the NYSE&#146;s listing standards and believes that its
corporate governance practices are broadly consistent with them, with one exception
where the Company does not meet the strict requirements set out in these standards.</FONT><br>
</P>
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  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">117</FONT></b></td>
  </tr>
</table>
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<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
    standards state that companies must have a nominating/ corporate governance
    committee composed entirely of independent directors and with written terms
    of reference which, in addition to identifying individuals qualified to become
    board members, develops and recommends to the board a set of corporate governance
principles applicable to the Company. Rio Tinto has a </font><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Nominations committee</FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">, information about which
    is set out on page 115. This committee does not develop corporate governance
    principles for the board&#146;s approval. The board itself performs this task and approves
the Group&#146;s overall system of governance and internal controls.</FONT></P>
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  <tr align="left" valign="top">
    <td colspan="2"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">New
          Zealand corporate governance statement</font></b><br>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto
      Limited is listed with the ASX and New Zealand Stock Exchange (&#147;NZX&#148;),
      which both have their own corporate governance rules. As an &#147;overseas
      listed
issuer&#148;, Rio Tinto Limited is deemed to satisfy the NZX rules while it remains
ASX listed. Additionally the NZX rules require Rio Tinto Limited to disclose
in its annual report any home exchange corporate governance rules and principles
which materially differ from those of the NZX. Although the ASX corporate governance
guidelines are substantially the same as the NZX regime, the following differences
may be considered material:</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        Australian equivalent of a number of the NZX rules including restrictions
        on buy backs, financial assistance</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">and rules governing auditors are contained in the Corporations
    Act 2001 rather than in the ASX Listing Rules.</font> </td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%"><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        ASX guidelines extend beyond the NZX rules to specifically address risk
        management, internal controls and</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">stakeholder interests and require the public disclosure of
    internal policies and procedures.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        ASX guidelines recommend that a majority of directors must be independent
        whereas the NZX rules require</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">one third of directors and at least two directors to be independent.
        Independence is defined similarly under both</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">rules
        but there are
differences.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td><font size="2">&#8226;</font></td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        ASX Listing Rules do not require shareholder approval of major transactions
    and related party transactions</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">to the extent required by the NZX rules.</font> </td>
  </tr>
  <tr align="left" valign="top">
    <td colspan="2"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Despite
        these regulatory differences, the directors believe that Rio Tinto Limited&#146;s
        corporate governance practices are consistent with the intentions underlying
        the NZX
Corporate Governance Best Practice Standards.</font></td>
  </tr>
</table>

<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal auditors</FONT></B><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The remuneration
  of the Group&#146;s principal auditors for audit services and other services,
  as well as remuneration payable to other accounting firms, has been set out
  in Note 44
to the 2005 Financial statements.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto has adopted policies designed to uphold the independence of the Group&#146;s principal auditors by prohibiting their engagement to provide a
range of accounting and other professional services that might compromise their appointment as independent auditors. The engagement of the Group&#146;s
principal auditors to provide statutory audit services, certain other assurance
services, tax services and some other specific services are pre-approved annually
by the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">. The engagement of the Group&#146;s principal auditors to
provide other permitted services are individually subject to the specific approval
of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or its chairman.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Prior
to the commencement of each financial year, the Group&#146;s finance director
submits to the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a schedule of the types of services that are expected to be performed during the following year
for its approval. The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">may
impose a US dollar limit on the total value of other permitted services that
can be provided. Any non audit service provided by the Group&#146;s principal auditors, where the expected fee exceeds a pre-determined level, must be subject to the Group&#146;s normal tender procedures. However, in
exceptional circumstances the finance director is authorised to engage the Group&#146;s principal auditors to provide such services without going to tender, but if the fees are expected to exceed US&#36;250,000
then the chairman of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">must approve the engagement.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">adopted policies for the
pre-approval of permitted services provided by the Group&#146;s principal auditors during January 2003. These are regularly reviewed by the committee. Engagements for
services provided by the Group&#146;s principal auditors since the adoption of
these policies were either within the pre-approval policies or approved by the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit
committee</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Audit committee</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">meets the membership requirements of the Code, the ASX Corporate Governance Guidelines and the NYSE Code. The Group also meets the composition, operation and responsibility requirements in respect of audit committees mandated by
the Australian Stock Exchange. The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">is governed by a written charter
approved by the board, which the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reviews and reassesses each year for
adequacy. A copy of this charter is reproduced on pages 120 to 121.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">comprises the four members set out below. Vivienne Cox became a member of the committee with effect from April 2005. The members of the committee are independent and are free of any relationship
that would interfere with impartial judgement in carrying out their responsibilities. David Mayhew attends the meetings in an advisory capacity.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Report of the Audit committee</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">met
eight times in 2005. It monitors developments in corporate governance in the UK, Australia and the US, to ensure the Group continues to apply high and appropriate standards.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Many
of the new US requirements have long been best practice and are incorporated
into the committee&#146;s charter, reproduced on pages 120 to 121. The
charter is subject to regular discussion and has been reviewed in the light of
new requirements and emerging best practice.</FONT><br>
</P>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">118</FONT></b></td>
  </tr>
</table>
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<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There
      is in place a set of procedures, including budgetary guidelines, for the
      appointment of the external auditor to undertake non audit work, which
      aims to provide the best possible services for the Group at the most advantageous </font>price. The committee reviews the independence of the external auditors on an annual basis and a process is also in place to review their effectiveness to ensure that the Group
continues to receive an efficient and unbiased service. The committee advised the directors that the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">is satisfied that the provision of non audit services by the external auditors during 2005 is compatible with the general standard of independence for auditors imposed by the Australian
Corporations Act 2001. Furthermore, as part of its responsibility to foster open communication, the committee meets with management, the external auditors and the internal auditor separately.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial expert</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">reviewed the SEC requirements for audit committees&#146; financial experts and the Combined Code requirement that at least one committee member should have recent and relevant financial experience. Following a detailed review, the
committee recommended to the board that Andrew Gould and Sir David Clementi be identified as the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee&#146;s </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial experts in the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">2005 Annual report and financial statements. </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">The board has concluded that Andrew Gould and Sir David Clementi possess the requisite skills, experience and background to qualify for the purpose of C.3.1 of the Code as well as fulfilling the
SEC criteria.</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 financial statements</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">has
reviewed and discussed with management the Group&#146;s audited financial statements for the year ended 31 December 2005.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">We have discussed with the external auditors the matters described in the American Institute of Certified Public Accountant Auditing Standard No. 90,
</FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee communications</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">, and in the International Standard on Auditing (UK and
Ireland) 260, </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Communication of Audit Matters with those charged with governance (ISA 260)</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">, including their judgements regarding the quality of the
Group&#146;s accounting principles and underlying estimates.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
committee has discussed with the external auditors their independence, and received
and reviewed their written disclosures, as required by the US Independence Standards
Board&#146;s Standard No. 1, Independence Discussions with Audit Committees and
ISA 260.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Based on the reviews and discussions referred to above, the committee has recommended to the board of directors that the financial statements referred to
above be included in this </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual report</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Andrew F J Gould </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Chairman)<br>
</FONT><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">Sir David Clementi<br>
Vivienne Cox<br>
Lord Kerr<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24 February 2006</FONT></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Report of the Nominations committee</FONT></B><br><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Nominations committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">report of its activities covers a period of considerable change in composition of the board. Three long serving non executive directors retired during 2005. They were Sir Richard Giordano, Leon Davis and John Morschel. The
committee therefore focused on the recruitment, with input from an external search advisers, of replacements with appropriate skills and experience. Ashton Calvert and Vivienne Cox joined the board on 1 February 2005, and Sir Rod Eddington joined
the board on 1 September 2005. Each is an independent director who brings an experience profile which will ensure that the overall quality of the board is maintained. The committee also reviewed matters relating to the succession plans for the
senior executive team. As part of his annual performance assessment of individual directors, Paul Skinner, who is chairman of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Nominations
committee</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">, has reviewed the time committed by directors to Group business and confirmed this to be appropriate in each case.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Paul Skinner </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Chairman)<br>
</FONT><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">Ashton Calvert, AC<br>
Sir Rod Eddington<br>
David Mayhew<br>
Sir Richard Sykes<br>
</FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24 February 2006</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">119</FONT></b></td>
  </tr>
</table>
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<div style="page-break-before:always"></div><page><a name="p120"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">AUDIT COMMITTEE CHARTER</FONT></B></P>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Scope
          and authority</FONT></B><br>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Company
      is required by the UK Listing Authority (UKLA), the New York Stock Exchange
      (NYSE), and the Australian Stock Exchange (ASX) to establish an Audit committee.
      Each of the UKLA, the NYSE and the ASX also lay down rules and guidelines
      for the composition of the Committee and the work to be undertaken by it.
      These requirements, where not self evident, have been incorporated into
      this Charter.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
primary function of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit
committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">is to assist the boards
of directors in fulfilling their responsibilities by reviewing:</FONT></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      financial information that will be provided to shareholders and the public;</font></td>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      systems of internal controls that the boards and management have established;</font></td>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      Group's auditing, accounting and financial reporting processes.</font></td>
  </tr>
</table>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
        carrying out its responsibilities the committee has full authority to
        investigate all matters that fall within the terms of reference of this
        Charter. Accordingly, the committee
may:</FONT></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Obtain
      independent professional advice in the satisfaction of its duties at the
      cost of the Group;</font></td>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Have
      such direct access to the resources of the Group as it may reasonably require
      including the external and</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">internal auditors.</font></td>
  </tr>
</table>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Composition</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">shall comprise three or more non executive directors, all of whom shall be independent. The chairman of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">will be an independent director, who is not also the chairman of the boards. The boards will determine each director&#146;s independence having regard to the Independence Policy adopted by the
boards, which includes consideration of any past and present relationships with the Group which, in the opinion of the boards, could influence the director&#146;s judgment.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">All members of the committee shall have a working knowledge of basic finance and accounting practices. At least one member of the committee will have
accounting or related financial management expertise, as determined by the boards.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A quorum will comprise any two committee members.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The committee may invite members of the management team to attend the meetings and to provide information as necessary.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Meetings</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The committee shall meet not less than four times a year or more frequently as circumstances require. </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New
Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">minutes will be confirmed at the following meeting of the committee and tabled as soon as practicable at a meeting of the
boards.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Company&#146;s senior financial management, external auditors and internal auditor shall be available to attend all meetings.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As part of its responsibility to foster open communication, the committee should meet with management, the external auditors and the internal auditor, at
least annually, to discuss any matters that are best dealt with privately.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Responsibilities</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The boards and the external auditors are accountable to shareholders. The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">is accountable to the boards. The internal auditor is accountable to the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee
</FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and the finance director.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To fulfil its responsibilities the committee shall:</FONT></P>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Charter</FONT></I></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%">&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      and, if appropriate, update this Charter at least annually.</font></td>
  </tr>
</table>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr align="left" valign="top">
    <td colspan="2"><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Financial
    reporting and internal financial controls</FONT></I></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      with management and the external auditors the Group&#146;s financial statements,
      Form 20-F, stock exchange</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">and media releases in respect of each half year and full year.</font>
    </td>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      with management and the external auditors the accounting policies and practices
      adopted by the</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">company
      and their compliance with accounting standards, stock exchange listing rules
      and relevant legislation.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Discuss
      with management and the external auditors management&#146;s choice of accounting
      principles and material</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">judgments, including whether they are aggressive or conservative
      and whether they are common or minority</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">practices.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Recommend
      to the boards that the annual and interim financial statements and Form
      20-F reviewed by the</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">committee (or the chairman representing the committee for this
      purpose) be included in the Group's annual</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">report.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      the regular reports prepared by the internal auditor including the effectiveness
      of the Group&#146;s internal</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">financial controls.</font></td>
  </tr>
</table>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">120</font></b></td>
  </tr>
</table>
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<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2" valign="top"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">External
    auditors</FONT></I></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%" valign="top">&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      and recommend to the boards the external auditors to be proposed to shareholders,
      following a</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">commercial tender if deemed necessary.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td valign="top">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      with the external auditors the planned scope of their audit and subsequently
      their audit findings</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">including any internal control recommendations.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td valign="top">&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Periodically
      consult with the external auditors out of the presence of management about
      the quality of the</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">Group&#146;s accounting principles, material judgments and
      any other matters that the committee deems appropriate.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td valign="top">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Periodically
      review the performance of the external auditors and the effectiveness of
      the audit process, taking</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">into consideration relevant professional and regulatory requirements.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td valign="top">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      and approve the fees and other compensation to be paid to the external auditors.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td valign="top">&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      and approve any non audit work and related fees to be carried out by the
      external auditors.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td valign="top">&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ensure
      that the external auditors submit a written statement outlining all of its
      professional relationships with the</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">Group including the provision of services that may affect their
      objectivity or independence. Review and discuss</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">with
      the external auditors all significant relationships they have with the company
      to determine their</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">independence.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>


<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2"><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Internal
    auditor</FONT></I></td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      the qualifications, organisation, strategic focus and resourcing of internal
      audit.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      and approve the internal audit plans.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      internal audit performance.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Periodically
      consult privately with the internal auditor about any significant difficulties
      encountered including</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">restrictions on scope of work, access to required information
      or any other matters that the committee deems</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">appropriate.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="left" valign="top">
    <TD colspan="3"><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Risk
    management</FONT></I></TD>
  </TR>
  <TR align="left" valign="top">
    <TD width="3%">&#8226;</TD>
    <TD colspan="2" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      and evaluate the internal processes for determining and managing key risk
      areas.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD>&#8226;</TD>
    <TD colspan="2" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Ensure
      the company has an effective risk management system and that macro risks
      are reported at least annually to the board.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD>&#8226;</TD>
    <TD colspan="2" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Require
      periodic reports from nominated senior managers:</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD>&nbsp;</TD>
    <TD width="3%" valign="top">&#8211;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">confirming
      the operation of the risk management system including advice that accountable
      management have confirmed the proper operation of agreed risk mitigation
      strategies and controls; and</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD>&nbsp;</TD>
    <TD valign="top">&#8211;</TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">detailing
      material risks.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD>&#8226;</TD>
    <TD colspan="2" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Address
      the effectiveness of the Company&#146;s internal control system with management
      and the internal and external auditors.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD>&#8226;</TD>
    <TD colspan="2" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Evaluate
      the process the Company has in place for assessing and continuously improving
      internal controls, particularly those related to areas of material risk.</font></TD>
  </TR>
  <TR align="left" valign="top">
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="top">&nbsp;</TD>
  </TR>
</TABLE>


<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td colspan="2"> <I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Other
    matters</FONT></I></td>
  </tr>
  <tr align="left" valign="top">
    <td colspan="2"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        committee shall also perform any other activities consistent with this
        charter that the committee or boards deem appropriate. This will include
    but not be limited to:</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr align="left" valign="top">
    <td width="3%">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      of the corporate governance practices of Group sponsored pension funds;</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      of the Group&#146;s insurance cover;</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      the Group&#146;s tax planning and compliance;</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&#8226;</td>
    <td> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Review
      the Group&#146;s whistleblowing procedures for financial reporting.</font></TD>
  </tr>
  <tr align="left" valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="8%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p121"></a>Item
      7.</font></b></td>
    <td><p><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Major
        Shareholders and Related Party Transactions</b></font></p></td>
  </tr>
</table>
<p><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>MAJOR
  SHAREHOLDERS</b></font><br>
  <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As far as is
known, Rio Tinto plc is not directly or indirectly owned or controlled by another
corporation or by any government. Rio Tinto plc does not know of any arrangements
which
may result in a change in its control. As of </FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31 May 2006, the total amount of the voting securities owned by the directors of Rio Tinto plc as a group was 90,957 ordinary shares of 10p each representing less than one per cent of
the number in issue.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As far as is known, Rio Tinto Limited, with the exception of the arrangements for the dual listed companies merger described on pages 128 to 130, is not
directly or indirectly owned or controlled by another corporation or by any government. As of 31 May 2006, the only person known to Rio Tinto Limited as owning more than five per cent of its shares was Tinto Holdings Australia Pty Limited, which is
an indirect wholly owned subsidiary of Rio Tinto plc, with 171,072,520 shares, representing 37.48 per cent of its issued capital. Rio Tinto Limited does not know of any arrangements which may result in a change in its control. As of 31 May 2006 the
total amount of the voting securities owned by the directors of Rio Tinto Limited as a group was 91,255 shares representing less than one per cent of the number in issue.</FONT></p>

<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">121</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p122"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors&#146; interests in Group voting securities are shown in Table 3 on page 102. Their total beneficial interest in the Group amounts to less than
one per cent.</FONT><font size="2"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Except as provided under the DLC Merger Sharing Agreement as explained on pages 128 to 129, the Group&#146;s major shareholders have the same voting and
other rights as other shareholders.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As at 31 May 2006 there were 253 US registered shareholders holding 151,286 shares in Rio Tinto plc, and 230 US registered shareholders holding 320,867
shares in Rio Tinto Limited.</FONT></font></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SUBSTANTIAL SHAREHOLDERS</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under the Listing Rules, any shareholder of Rio Tinto plc with a beneficial interest of more than three per cent, or of Rio Tinto Limited with a beneficial interest of more than five
per cent, is required to provide the Companies with notice. Excluding the interest held by Tinto Holdings Australia Pty Limited in Rio Tinto Limited, the shareholders to have provided such notice are:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RIO
TINTO plc</FONT></B></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of notice</font></TD>
	<TD align="center"><font size="2">&nbsp;
	</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Number of</font></TD>
	<TD align="center"><font size="2">&nbsp;
	</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Percentage</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=center><font size="2">&nbsp;

	</font></TD>
	<TD align="center"><font size="2">&nbsp;
	</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shares</font></TD>
	<TD align="center"><font size="2">&nbsp;
	</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
	    issued</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD height="17" align=left><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=center><font size="2">&nbsp;

	</font></TD>
	<TD align="center"><font size="2">&nbsp;
	</font></TD>
	<TD align=center><font size="2">&nbsp;

	</font></TD>
	<TD align="center"><font size="2">&nbsp;
	</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share
	    capital</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD></TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Barclays PLC</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=12% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5 May 2006</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=10% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41,776,631</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=10% align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.950</font></TD>
	<TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Capital Group Companies, Inc</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">26 May 2006</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">42,254,917</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.007</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fidelity Management and Research Company</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23 December 2005</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,690,364</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.150</font></TD>
	<TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Legal &amp; General plc</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5 October 2005</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33,539,570</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.130</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left valign="top">
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</FONT></B></TD>
  </TR>
<TR valign="bottom">
  <TD align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As
      far as it is known, Rio Tinto is not directly or indirectly owned or controlled
    by another corporation or by any government.</font></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2">
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RIO TINTO LIMITED</FONT></B>&nbsp;
	</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of notice</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Number of</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Percentage</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=center><font size="2">&nbsp;</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shares</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
	    issued</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=center><font size="2">&nbsp;</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=center><font size="2">&nbsp;</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share
	    capital</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD></TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=left><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">None</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=12% align=left bgcolor="#eeeeee">&nbsp;

	</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=10% align=right bgcolor="#eeeeee">&#8212;</TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=10% align=right bgcolor="#eeeeee">&#8212;</TD>
	<TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left valign="top">
<B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</FONT></B></TD>
  </TR>
<TR valign="bottom">
  <TD align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto is not aware of any arrangement which may result in a change in its
    control.</font></TD>
  </TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ANALYSIS OF ORDINARY SHAREHOLDERS </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As at 31 May 2006</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="right" valign="bottom">
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD colspan="3"><font size="2">
      <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc</FONT>&nbsp;&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD colspan="3"><font size="2">
      <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Limited</FONT>&nbsp;&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
</TR>
<TR align="right" valign="bottom">
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No of</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No of</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">% </font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">%</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
</TR>
<TR align="right" valign="bottom">
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accounts</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accounts</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD><font size="2">&nbsp;</font></TD>
  <TD><font size="2">&nbsp;</font></TD></TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 to 1,000 shares</font></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38,340</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.73</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=9% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,146,557</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.44</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67,651</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">78.98</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=9% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25,093,570</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
	<TD width=6% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.49</font></TD>
	<TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,001 to 5,000 shares</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13,580</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">24.70</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27,331,242</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.59</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,808</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18.46</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30,966,597</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.78</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,001 to 10,000 shares</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,198</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.18</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,264,615</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.78</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,347</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.57</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,385,638</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.05</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10,001 to 25,000 shares</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">632</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.15</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,820,280</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.93</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">556</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.65</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8,260,372</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.81</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">25,001 to 125,000 shares</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">615</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.12</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36,057,983</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.42</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">209</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.25</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,759,729</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.14</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125,001 to 250,000 shares</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">194</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.35</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34,912,634</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.31</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.03</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5,054,995</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.11</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">250,001 to 1,250,000 shares</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">279</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.51</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">155,625,130</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.76</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.04</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18,559,366</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.06</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,250,001 to 2,500,000</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.13</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">126,150,537</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.97</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.01</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15,259,754</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.34</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,500,001 and over</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">72</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.13</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">524,990,879</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49.80</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.01</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">334,362,490</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73.19</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ADRs</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">115,859,816</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.99</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">113,432</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.02</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55,756</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,054,214,489</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">83,563</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">456,815,943</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">100</font></TD>
	<TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shares held in treasury</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18,093,070</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
&#8212;</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,072,307,559</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">456,815,943</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD colspan=7 align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Number of holdings less than marketable parcel of A&#36;500.</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,374</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;</TD>
	<TD align=left>&nbsp;

	</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">122</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TWENTY LARGEST REGISTERED SHAREHOLDERS </FONT></B><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As at 31 May 2006</FONT></P>

<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In accordance with the ASX Listing Rules, below are the names of the twenty largest registered holders of Rio Tinto Limited shares and the number of shares and the percentage of
issued capital each holds:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="center" valign="bottom">
    <TD colspan=2 align="left"><b> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RIO
      TINTO LIMITED</FONT></b></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp; Number
        of</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Percentage</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;shares</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
      issued</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR align="center" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align="right"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">capital</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade></TD>
    <TD align=left><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD width="3%" align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      Holdings Australia Pty Limited</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">171,072,520</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=10% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.45</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">J
      P Morgan Nominees Australia Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">44,463,074</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.73</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">National
      Nominees Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,191,058</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.14</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Westpac
      Custodian Nominees Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37,053,361</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.11</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ANZ
      Nominees Limited &lt;CASH INCOME&gt;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16,411,622</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.59</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Citicorp
      Nominees PTY Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9,327,173</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.04</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Cogent
      Nominees Pty Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6,674,301</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.46</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Queensland
      Investment Corporation</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,474,258</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.76</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Citicorp
      Nominees Pty Limited &lt;CFS WSLE GEARED SHR FND A/C</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,375,324</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.74</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Citicorp
      Nominees Pty Limited &lt;CFS WSLE IMPUTATION FND A/C&gt;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,810,581</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.62</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">HSBC
      Custody Nominees (Australia) Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,509,218</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.55</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Westpac
      Financial Services Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,422,823</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.53</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RBC
      Dexia Investor Services Australia Nominees PTY Limited &lt;PIPOOLED&gt;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,145,366</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.47</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Citicorp
      Nominees Pty Limited&lt;CFS IMPUTATION FUND A/C&gt;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,864,309</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.41</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian
      Foundation Investment Company Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,845,914</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.40</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">16</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">UBS
      Wealth Management Australia Nominees PTY LTD</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,629,692</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.36</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17</font></TD>
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">AMP
      Life Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,369,955</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.30</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RBC
      Dexia Investor Services Australia Nominees PTY Limited &lt;BKCUST&gt;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,363,811</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.30</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">19</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Citicorp
      Nominees pty Limited&lt;CFS WSLE AUST SHARE FND&gt;</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,326,521</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.29</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20</font></TD>
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RBC
      Dexia Investor Services Australia Nominees PTY Limited</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,291,363</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.28</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">349,622,244</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">76.53</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD align=left><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="2" align=left> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B></TD>
  </TR>
  <TR valign="top">
    <TD width=3% align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      Holdings Australia Pty Limited is a wholly owned subsidiary of Rio Tinto
      plc.</font></TD>
  </TR>
  <TR valign="top">
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</font></TD>
    <TD align=left> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registered
      nominees hold securities on behalf of beneficial shareholders.</font></TD>
  </TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RELATED PARTY TRANSACTIONS</FONT></B></p>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Details of
      the Group&#146;s material related party transactions are set out in Note 45
    of the 2005 Financial statements.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
    Group&#146;s
    financial statements and disclosures show the full extent of its financial
    commitments including debt and similar exposures. The Group&#146;s share
    of the net debt of jointly controlled entities and associates is also disclosed.</FONT></p>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="8%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p123"></a>Item
      8.</font></b></td>
    <td><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Financial
      Information </b></font></TD>
  </tr>
</table>
<p><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>LEGAL
  PROCEEDINGS</b></font></p>
<P><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neither Rio Tinto plc nor Rio Tinto Limited nor any
  of their subsidiaries is a defendant in any proceedings which the directors
  believe will have a material effect on either Company&#146;s financial position
or profitability. </font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Contingencies
      are disclosed in Note 36 of the 2005 Financial statements.
  </font>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DIVIDENDS</FONT></B></P>
<font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Both Companies have paid dividends
    on their shares every year since incorporation in 1962. The rights of Rio
    Tinto shareholders
  to receive dividends are explained under the description of the Dual Listed
  Companies&#146; Structure on page 128.</font>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dividend policy</FONT></B><br>
<font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      aim of Rio Tinto&#146;s progressive
      dividend policy is to increase the US dollar value of ordinary dividends
      over time,
    without cutting them in economic downturns. </font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The rate
    of the total annual dividend, in US dollars, is determined taking into account
    the results for the past year and the outlook for the current year. The interim
    dividend is set at one half of the total ordinary dividend for the previous
    year. Under Rio Tinto&#146;s dividend policy the final ordinary dividend for
    each year is expected to be at least equal to the previous interim dividend.</FONT></p>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">123</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p124"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dividend determination</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The majority of the Group&#146;s sales are transacted in US dollars, making this the most reliable measure for the Group&#146;s global business performance. It is Rio Tinto&#146;s
main reporting currency and consequently the natural currency for dividend determination. Dividends determined in US dollars are translated at exchange rates prevailing two days prior to the announcement and are then declared payable in sterling by
Rio Tinto plc and in Australian dollars by Rio Tinto Limited.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On request shareholders of Rio Tinto plc can elect to receive dividends in Australian dollars and shareholders of Rio Tinto Limited can elect to receive
dividends in sterling. Shareholders requiring further information should contact Computershare.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005 dividends</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The 2005 interim and final dividends were determined at 38.5 US cents and at 41.5 US cents per share respectively and the applicable translation rates were US&#36;1.7704 and
US&#36;1.7774 to the pound sterling and US&#36;0.7615 and US&#36;0.7564 to the Australian dollar. A special dividend of 110.00 US cents per share was also declared payable at the same time as the final dividend.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Final dividends of 23.35 pence per share and of 54.86 Australian cents per share, together with the special dividend of 61.89 pence and 145.42 Australian
cents, will be paid on 6 April 2006. A final dividend of 166 US cents, together with a special dividend of 440 US cents per ADR (each representing four shares), will be paid by JPMorgan Chase Bank NA to ADR holders on 7 April 2006.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The tables below set out the amounts of interim, final and special cash dividends paid or payable on each share or ADS in respect of each financial year,
but before deduction of any withholding tax.</FONT></p>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto Group &#150; US cents per share</FONT></B></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><font size="2"><b> <FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT>&nbsp;
      </b></font></TD>
    <TD align="right"><b><font size="2">&nbsp;</font> </b></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font> </TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font> </TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></TD>
    <TD align="right"><font size="2">&nbsp;</font> </TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</FONT></TD>
    <TD align=center><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interim</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">38.5</FONT></B></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32.0</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.0</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29.5</font></TD>
    <TD width=2%>&nbsp; </TD>
    <TD width=8% align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">20.0</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Final</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">41.5</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45.0</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">34.0</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">30.5</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.0</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Special</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">110.0</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">190.0</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">77.0</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">64.0</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.0</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">59.0</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto plc &#150; UK pence per share</FONT></B></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></b></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interim</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">21.75</FONT></B></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">17.54</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18.45</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18.87</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14.03</font></TD>
    <TD width="2%" align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Final</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">23.35</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">23.94</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18.68</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">18.60</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27.65</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Special</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">61.89</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">106.99</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41.48</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.13</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.47</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41.68</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto Limited &#150; Australian cents per share</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></b></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interim</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">50.56</FONT></B></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45.53</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45.02</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.06</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.42</font></TD>
    <TD width="2%" align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Final</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">54.86</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.29</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">44.68</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">51.87</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.85</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Special</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">145.42</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">250.84</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">103.82</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">89.70</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">105.93</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">115.27</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto plc and Rio Tinto Limited &#150; US cents per ADS</FONT></B></TD>
    <TD><font size="2">&nbsp;</font> </TD>
    <TD align=right><b> <FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></b></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></TD>
    <TD align="center"><font size="2">&nbsp;</font></TD>
    <TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Interim</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">154</FONT></B></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">128</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">120</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">118</font></TD>
    <TD width="2%">&nbsp; </TD>
    <TD width="8%" align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80</font></TD>
    <TD width="2%" align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Final</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">166</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">180</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">136</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">122</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">156</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Special</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">440</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD>&nbsp; </TD>
    <TD align=right> &#8212;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD><hr align="left" size="1" noshade></TD>
    <TD align=right><hr size="1" noshade></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#eeeeee">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Total</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">760</FONT></B></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">308</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">256</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">240</font></TD>
    <TD>&nbsp; </TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">236</font></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><hr align="left" size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD><hr align="left" size="1" noshade>
    </TD>
    <TD align=right><hr size="1" noshade>
    </TD>
    <TD align=right>&nbsp;</TD>
  </TR>
</TABLE>

<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dividend reinvestment plan (DRP)</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto offers a DRP to registered shareholders which provides the opportunity to use cash dividends to purchase Rio Tinto shares in the market free of commission, see Taxation on
pages 133 and 134 for an explanation of the tax consequences. Due to local legislation the DRP cannot be extended to shareholders in the US, Canada and certain other countries. Please contact Computershare for further information.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">POST BALANCE SHEET EVENTS</FONT></B></P>
<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No
        significant changes have occurred since the date of the financial statements.
    Changes which may be of interest are:</FONT></td>
  </tr>
  <tr>
    <td width="3%">&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      buybacks and issues, which are discussed on page 10;</font></TD>
  </tr>
  <tr>
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Western
      Australian Government approval and ratification of the Hope Downs Joint
      Venture in April 2006,</font> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which
      is discussed on page 61; and</font></TD>
  </tr>
  <tr>
    <td>&#8226;</td>
    <td><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">For
      the contract year commencing April 2006 RTIO reached agreement with customers
      on price increases for its</font> <font size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">products of 19 per cent.</font></TD>
  </tr>
</table>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">124</FONT></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">


<div style="page-break-before:always"></div><page><a name="p125"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td width="8%"><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item
    9.</FONT></B></td>
    <td><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><B>The
          Offer
and Listing</B></font></TD>
  </tr>
</table>
<P><font size="2" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>MARKET LISTINGS AND SHARE PRICES</b></font></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto plc</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The principal market for Rio Tinto plc shares is the London Stock Exchange (LSE).</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As a constituent of the Financial Times Stock Exchange 100 index (FTSE 100), Rio Tinto plc shares trade through the Stock Exchange Electronic Trading
Service (SETS) system.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Central to the SETS system is the electronic order book on which an LSE member firm can post buy and sell orders, either on its own behalf or for its
clients. Buy and sell orders are executed against each other automatically in strict price, then size, priority. The order book operates from 8.00 am to 4.30 pm daily. From 7.50 am to 8.00 am orders may be added to, or deleted from the book, but
execution does not occur. At 8.00 am the market opens by means of an uncrossing algorithm which calculates the greatest volume of trades on the book which can be executed, then matches the orders, leaving unexecuted orders on the book at the start
of trading.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">All orders placed on the order book are firm and are for standard three day settlement. While the order book is vital to all market participants, orders
are anonymous, with the counterparties being revealed to each other only after execution of the trade.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Use of the order book is not mandatory but all trades, regardless of size, executed over the SETS system are published immediately. The only exception to
this is where a Worked Principal Agreement (WPA) is entered into for trades greater than 8 x Normal Market Size (NMS). Rio Tinto plc has an NMS of 75,000 shares. Publication of trades entered under a WPA is delayed until the earlier of 80 per cent
of the risk position assumed by the member firm taking on the trade being unwound or the end of the business day.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Closing LSE share prices are published in most UK national newspapers and are also available during the day on the Rio Tinto and other websites. Share
prices are also available on CEEFAX and TELETEXT and can be obtained through the Cityline service operated by the Financial Times in the UK: telephone 0906 843 3880; calls are currently charged at 60p per minute plus VAT, in addition to any mobile
phone charges.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc has a sponsored American Depositary Receipt (ADR) facility with JPMorgan Chase Bank NA under a Deposit Agreement, dated 13 July 1988, as
amended on 11 June 1990, as further amended and restated on 15 February 1999 and as further amended and restated on 18 February 2005. The ADRs evidence Rio Tinto plc American Depositary Shares (ADS), each representing four ordinary shares. The
shares are registered with the US Securities and Exchange Commission (SEC), are listed on the New York Stock Exchange (NYSE) and are traded under the symbol &#145;RTP&#146;.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto plc shares are also listed on Euronext and on Deutsche B&ouml;rse.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
following table shows share prices for the period indicated, the reported high
and low middle market quotations, which represent an average of bid and asked
prices, for Rio Tinto plc&#146;s shares on the LSE based on the LSE Daily Official
List, and the highest and lowest sale prices of the Rio Tinto plc ADSs as reported
on the NYSE composite tape.</FONT></p>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">125</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p126"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
	<TD><font size="2">&nbsp;</font></TD>
	<TD colspan="3" align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pence per</FONT></TD>
	<TD align="right"><font size="2">&nbsp;</font></TD>
	<TD colspan="3" align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36; per</FONT></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR>
	<TD><font size="2">&nbsp;</font></TD>
	<TD colspan=3 align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc share</FONT></TD>
	<TD align="right"><font size="2">&nbsp;</font></TD>
	<TD colspan=3 align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc ADS</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">High</FONT></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Low</FONT></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">High</FONT></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Low</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</font></TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,475</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">930</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">84.10</font></TD>
	<TD width=2%>&nbsp;
	</TD>
	<TD width=8% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55.00</font></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,492</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">981</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">85.93</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.00</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,543</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,093</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">111.35</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.70</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,574</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,212</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">119.39</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">86.42</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,657</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,472</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">183.29</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">111.57</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aug 2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,075</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,876</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">150.24</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">133.90</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sep 2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,346</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,936</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">166.90</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">143.33</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oct 2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,308</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,073</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">163.77</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">148.81</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Nov 2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,414</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,176</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">167.50</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">153.43</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec 2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,657</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,402</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">183.29</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">168.33</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Jan 2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,800</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,634</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">212.94</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">184.08</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Feb2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,945</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,680</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">207.76</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">188.64</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar 2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,941</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,588</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">208.48</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">180.01</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr 2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,193</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,922</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">230.25</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">212.00</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">May 2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,322</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,660</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">246.78</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">205.00</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">First quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,574</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,297</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">111.50</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">95.95</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Second quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,409</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,212</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">105.30</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">86.42</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Third quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,496</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,313</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">108.65</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">97.03</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fourth quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,562</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,421</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">119.39</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">103.48</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">First quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,851</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,472</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">142.80</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">111.57</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Second quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,762</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,557</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">130.75</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">115.80</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Third quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,346</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,724</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">166.90</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">122.98</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fourth quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,657</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,073</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">183.29</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">148.81</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR>
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR bgcolor="#eeeeee">
	<TD>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">First quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,945</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,588</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">212.94</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">180.01</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As at 31 May 2006, there were 55,994 holders of record of Rio Tinto plc&#146;s shares. Of these holders, 253 had registered addresses in the US and held a total of 151,286 Rio Tinto
plc shares, representing 0.01 per cent of the total number of Rio Tinto plc shares issued and outstanding as at such date. In addition, 115.9 million Rio Tinto plc shares were registered in the name of a custodian account in London which represented
11.0 per cent of the publicly held Rio Tinto plc shares issued and outstanding. These shares were represented by 29.0 million Rio Tinto plc ADSs held of record by 368 ADR holders. In addition, certain accounts of record with registered addresses
other than in the US hold shares, in whole or in part, beneficially for US persons.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Limited</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Limited shares are listed on the Australian Stock Exchange (ASX) and the New Zealand Stock Exchange. The ASX is the principal trading market for Rio Tinto Limited shares.
The ASX is a national stock exchange operating in the capital city of each Australian State with an automated trading system. Although not listed, Rio Tinto Limited shares are also traded in London.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Closing ASX share prices are published in most Australian newspapers and are also available during the day on the Rio Tinto and other websites.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Limited has an ADR facility with JPMorgan Chase Bank NA under a Deposit Agreement, dated 6 June 1989, as amended on 1 August 1989, as further
amended and restated on 2 June 1992 and as further amended and restated on 7 July 2005. The ADRs evidence Rio Tinto Limited&#146;s ADSs, each representing four shares and are traded in the over the counter market under the symbol
&#145;RTOLY&#146;.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Group&#146;s two ADR programmes were established before the 1995 merger of Rio Tinto plc and Rio Tinto Limited in a dual listed companies structure.
The Group does not believe that there is any benefit in continuing to maintain two separate ADR programmes and due to the relative size of the Rio Tinto Limited ADR programme has decided that it should be terminated. In February 2006 formal notice
of termination of the Deposit Agreement was given to JPMorgan Chase Bank NA with the intention that it should be terminated on 10 April 2006, immediately after the payment of the final dividend to the ADR holders. Any questions concerning holdings
of Rio Tinto Limited ADRs should be directed to the JPMorgan Service Center on (800) 990 1135.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The following tables set out for the periods indicated the high and low closing sale prices of Rio Tinto Limited shares based upon information provided
by the ASX and the highest and lowest trading prices of Rio Tinto Limited ADSs, as advised by JPMorgan Chase Bank NA. There is no established trading market in the US for Rio Tinto Limited&#146;s shares or ADSs.</FONT></p>
<P>&nbsp;</P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">126</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p127"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD colspan="3" align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A&#36; per</FONT></TD>
	<TD align="right"><font size="2">&nbsp;</font></TD>
	<TD colspan="3" align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36; per</FONT></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD colspan=3 align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Limited share</FONT></TD>
	<TD align="right"><font size="2">&nbsp;</font></TD>
	<TD colspan=3 align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Limited ADS</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">High</FONT></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Low</FONT></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">High</FONT></TD>
	<TD><font size="2">&nbsp;</font></TD>
	<TD align=right>
      <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Low</FONT></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</font></TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.62</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28.40</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">80.55</font></TD>
	<TD width=2% bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD width=8% align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.00</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41.35</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">29.05</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">85.24</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.62</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.54</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28.17</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">112.42</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">73.85</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.20</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31.98</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">91.60</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.10</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.82</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">204.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">118.56</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aug 2005</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.10</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">49.17</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">166.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">149.75</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Sept 2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.01</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">50.55</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">181.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">156.00</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Oct 2005</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">58.93</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.27</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">180.75</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">163.25</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Nov 2005</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">62.60</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">57.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">187.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">169.78</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dec 2005</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.10</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.40</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">204.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">179.50</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Jan 2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">71.06</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">68.80</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">234.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">207.00</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Feb 2006</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">75.57</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">70.95</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">229.75</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">209.00</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mar 2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">78.85</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67.50</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">226.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">197.50</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Apr 2006</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">85.31</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">78.65</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">246.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">232.00</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">May 2006</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">87.97</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">74.65</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">n/a</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">First quarter</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.50</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">33.80</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">115.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">99.45</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Second quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36.18</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31.98</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">108.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">91.60</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Third quarter</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.60</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35.56</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">108.20</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">102.00</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fourth quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">40.20</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">36.30</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">125.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">107.00</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">First quarter</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">47.93</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">38.82</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">153.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">118.56</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Second quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45.90</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">41.40</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">143.75</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">127.50</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Third quarter</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.01</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">45.12</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">181.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">135.00</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fourth quarter</font></TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">69.10</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.27</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">204.00</font></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">163.25</font></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD><hr noshade size="1"></TD>
  <TD align=right><hr noshade size="1"></TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2006</font></TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
	<TD>&nbsp;
	</TD>
	<TD align=left>&nbsp;

	</TD>
    <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">First quarter</font></TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">78.85</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">67.50</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">234.00</font></TD>
	<TD bgcolor="#eeeeee">&nbsp;
	</TD>
	<TD align=right bgcolor="#eeeeee">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">197.50</font></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr noshade size="1">
  </TD>
  <TD align=right><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=right><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=right><hr noshade size="1">
  </TD>
  <TD><hr noshade size="1">
  </TD>
  <TD align=right><hr noshade size="1">
  </TD>
  <TD align=right><font size="1">&nbsp;</font></TD>
</TR>
</TABLE>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As at 31 May 2006, a total of 320,867 Rio Tinto Limited shares were held of record by 230 persons with registered addresses in the US, which represented
approximately 0.07 per cent of the total number of Rio Tinto Limited shares issued and outstanding as of such date. Rio Tinto plc and Rio Tinto Limited established separate ADR programmes prior to their merger and have maintained both but following
a recent review it was concluded that the Rio Tinto Limited ADR programme should be terminated with effect from 10 April 2006 and a notice of termination was mailed to ADR holders. The Rio Tinto plc ADR programme will not be affected by this
termination. As at 31 May 2006, an aggregate of 28,358 Rio Tinto Limited ADSs remained outstanding, representing 113,432 Rio Tinto Limited shares, and were held of record by 40 persons with registered addresses in the US, which represented less than
one per cent of the total number of Rio Tinto Limited shares issued and outstanding. In addition, nominee accounts of record with registered addresses other than in the US may hold Rio Tinto Limited shares, in whole or in part, beneficially for US
persons.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ADR holders</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ADR holders may instruct JPMorgan Chase Bank NA as to how the shares represented by their ADRs should be voted.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registered
      holders of ADRs will have the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual review </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and interim reports mailed to them at their record address. Brokers or financial institutions,
  which hold ADRs for shareholder clients, are responsible for forwarding shareholder information to their clients and will be provided with copies of the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual review
  </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and interim reports for this purpose.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
Tinto is subject to the US Securities and Exchange Commission (SEC) reporting
requirements for foreign companies. A Form 20-F, which corresponds with the Form
10-K in US public companies, will be filed with the SEC. Rio Tinto&#146;s Form
20-F and other filings can be viewed on the SEC web site at www.sec.gov.</FONT></p>

  <P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Investment warning</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Past performance of shares is not necessarily a guide to future performance. The value of shares and investments and the income derived from them can go down as well as up, and
investors may not get back the amount they invested.</FONT></p>
<P>&nbsp;</P>

<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
          Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></P></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">127</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p128"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="8%"><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item
    10.</FONT></B></td>
    <td><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Additional
    Information</FONT></B></td>
  </tr>
</table>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DUAL LISTED COMPANIES STRUCTURE</FONT></B></p>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On 20 December 1995, Rio Tinto shareholders approved the terms of the dual listed companies merger (the DLC merger) which was designed to place the shareholders of both Companies in
substantially the same position as if they held shares in a single enterprise owning all of the assets of both Companies. As a condition of its approval of the DLC merger, the Australian Government required Rio Tinto plc to reduce its shareholding
in Rio Tinto Limited to 39 per cent by the end of 2005. Consistent with the commitments made to the Australian Government in 1995, the Rio Tinto plc shareholding in Rio Tinto Limited has been reduced over time to now stand at approximately 37.5 per
cent.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Following the approval of the DLC merger, both Companies entered into a DLC Merger Sharing Agreement (the Sharing Agreement) through which each Company
agreed: (a) to ensure that the businesses of Rio Tinto plc and Rio Tinto Limited are managed on a unified basis, (b) to ensure that the boards of directors of each Company is the same, and (c) to give effect to certain arrangements designed to
provide shareholders of each Company with a common economic interest in the combined enterprise.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In order to achieve this third objective, the Sharing Agreement provided for the ratio of dividend, voting and capital distribution rights attached to
each Rio Tinto plc share and to each Rio Tinto Limited share to be fixed in an Equalisation Ratio which has remained unchanged at 1:1. The Sharing Agreement has provided for this ratio to be revised in special circumstances where, for example,
certain modifications are made to the share capital of one Company, such as rights issues, bonus issues, share splits and share consolidations, but not to the share capital of the other. Outside these specified circumstances, the Equalisation Ratio
can only be altered with the approval of shareholders under the Class Rights Action approval procedure described under Voting rights. In addition, any adjustments are required to be confirmed by the auditors.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">One consequence of the DLC merger is that Rio Tinto is subject to a wide range of laws, rules and regulatory review across multiple jurisdictions. Where
these rules differ, in many instances it means that Rio Tinto, as a Group, complies with the strictest applicable level.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consistent with the creation of a single combined enterprise under the DLC merger, directors of each Company act in the best interests of the
shareholders of both Companies ie, in the best interests of Rio Tinto as a whole. When matters may involve a conflict of interests between the shareholders of each Company they must be approved under the Class Rights Action approval
procedure.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To ensure that the boards of both Companies are identical, resolutions to appoint or remove directors must be put to shareholders of both as a joint
electorate as Joint Decisions as described under Voting rights, and it is a requirement that a person can only be a director of one Company if that person is also a director of the other Company. So, for example, if a person was removed as a
director of one Company, he or she would also cease to be a director of the other.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dividend rights</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Sharing Agreement provides for dividends paid on Rio Tinto plc and Rio Tinto Limited shares to be equalised on a net cash basis, that is without taking into account any associated
tax credits. Dividends are determined in US dollars and are then, except for ADR holders, translated and paid in sterling and Australian dollars. The Companies are also required to announce and pay their dividends and other distributions as close in
time to each other as possible.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the unlikely event that one Company did not have sufficient distributable reserves to pay the equalised dividend or the equalised capital
distribution, it would be entitled to receive a top up payment from the other Company. The top up payment could be made as a dividend on the DLC Dividend Share or by way of a contractual payment.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">If the payment of an equalised dividend would contravene the law applicable to one of the Companies, then they may depart from the Equalisation Ratio.
However, should such a departure occur then the relevant Company will put aside reserves to be held for payment on the relevant shares at a later date.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto shareholders have no direct rights to enforce the dividend equalisation provisions of the Sharing Agreement.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The DLC Dividend Share can also be utilised to provide the Group with flexibility for internal funds management by allowing dividends to be paid between
the two parts of the Group. Such dividend payments are of no economic significance to the shareholders of either Company, as they will have no effect on the Group&#146;s overall resources.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Voting rights</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In principle, the Sharing Agreement provides for the public shareholders of Rio Tinto plc and Rio Tinto Limited to vote as a joint electorate on all matters which affect shareholders
of both Companies in similar ways. These are referred to as Joint Decisions. Such Joint Decisions include the creation of new classes of share capital, the appointment or removal of directors and auditors and the receiving of annual financial
statements. Joint Decisions are voted on a poll.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
Sharing Agreement also provides for the protection of the public shareholders
of each Company by treating the shares issued by each Company as if they were
separate classes of shares issued by a single company. So decisions that do not
affect the shareholders of both Companies equally require the separate approval
of the shareholders of both Companies. Matters requiring this approval procedure
are referred to as Class Rights Actions and are voted on a poll.</FONT></P>
<p>&nbsp;</p>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">128</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p129"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Thus,
      the interests of the shareholders of each Company are protected against
      decisions which affect them and the shareholders in the other company differently,
      by requiring their separate approval. For example, fundamental elements
      of the DLC merger cannot be changed unless approved by shareholders under
      the Class Rights Action approval procedure.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exceptions to these principles can arise in situations such as where legislation requires the separate approval of a decision by the appropriate majority
of shareholders in one Company and where approval of the matter by shareholders of the other Company is not required.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Where a matter has been expressly categorised as either a Joint Decision or a Class Rights Action, the directors do not have the power to change that
categorisation. If a matter falls within both categories, it is treated as a Class Rights Action. In addition, the directors can determine that matters not expressly listed in either category should be put to shareholders for their approval under
either procedure.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">To facilitate the joint voting arrangements each Company has entered into shareholder voting agreements. Each Company has issued a Special Voting Share
to a special purpose company held in trust by a common Trustee.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc has issued its Special Voting Share (RTP Special Voting Share) to RTL Shareholder SVC and Rio Tinto Limited has issued its Special Voting
Share (RTL Special Voting Share) to RTP Shareholder SVC. The total number of votes cast on Joint Decisions by the public shareholders of one Company are voted at the parallel meeting of the other Company. The role of these special purpose companies
in achieving this is described below.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
exceptional circumstances, certain public shareholders of the Companies can be
excluded from voting at the respective Company&#146;s general meetings
because they have acquired shares in one Company in excess of a given threshold
without making an offer for all the shares in the other Company. If this should
occur, the votes cast by these excluded shareholders will be disregarded.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Following
the Companies&#146; general meetings the overall results of the voting on Joint
Decisions and the results of voting on separate decisions will be announced to
the stock exchanges, published on the Rio Tinto website and advertised in the
Financial Times and Australian newspapers.</FONT></p>

  <P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto plc</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At a Rio Tinto plc shareholders&#146; meeting at which a Joint Decision will be considered, each Rio Tinto plc share will carry one vote and the holder of its Special Voting Share
will have one vote for each vote cast by the public shareholders of Rio Tinto Limited. The holder of the Special Voting Share is required to vote strictly and only in accordance with the votes cast by public shareholders for and against the
equivalent resolution at the parallel Rio Tinto Limited shareholders&#146; meeting.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The holders of Rio Tinto Limited ordinary shares do not actually hold any voting shares in Rio Tinto plc by virtue of their holding in Rio Tinto Limited
and cannot enforce the voting arrangements relating to the Special Voting Share.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Limited</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At a Rio Tinto Limited shareholders&#146; meeting at which a Joint Decision will be considered, each Rio Tinto Limited share will carry one vote and, together with the Rio Tinto
Limited ordinary shares held by Tinto Holdings Australia, the holder of its Special Voting Share will carry one vote for each vote cast by the public shareholders of Rio Tinto plc in their parallel meeting. Tinto Holdings Australia and the holder of
the Special Voting Share are required to vote strictly, and only, in accordance with the votes cast for and against the equivalent resolution at the parallel Rio Tinto plc shareholders&#146; meeting.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The holders of Rio Tinto plc ordinary shares do not actually hold any voting shares in Rio Tinto Limited by virtue of their holding in Rio Tinto plc and
cannot enforce the voting arrangements relating to the Special Voting Share.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Capital distribution rights</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">If either of the Companies goes into liquidation, the Sharing Agreement provides for a valuation to be made of the surplus assets of both Companies. If the surplus assets available
for distribution by one Company on each of the shares held by its public shareholders exceed the surplus assets available for distribution by the other Company on each of the shares held by its public shareholders, then an equalising payment between
the two Companies shall be made, to the extent permitted by applicable law, such that the amount available for distribution on each share held by public shareholders of each Company conforms to the Equalisation Ratio. The objective is to ensure that
the public shareholders of both Companies have equivalent rights to the assets of the combined Group on a per share basis, taking account of the Equalisation Ratio.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Sharing Agreement does not grant any enforceable rights to the shareholders of either Company upon liquidation of a Company.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Limitations on ownership of shares and merger obligations</FONT></B><br>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The laws and
regulations of the UK and Australia impose certain restrictions and obligations
on persons who control interests in public quoted companies in excess of certain
thresholds that, under certain circumstances, include obligations to make a public
offer for all of the outstanding issued shares of the relevant company. The threshold
applicable to Rio Tinto plc under UK law and regulations is 30 per cent and to
Rio Tinto Limited under Australian law and regulations is 20 per cent.</FONT></P>
<P>&nbsp;</P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr align="right">
    <td><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</FONT></I></td>
    <td width="3%"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">129</FONT></B></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<a name="p130"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As part of the DLC merger, the memorandum and articles of association of Rio Tinto plc and the constitution of Rio Tinto Limited were amended with the
intention of extending these laws and regulations to the combined enterprise and, in particular, to ensure that a person cannot exercise control over one Company without having made offers to the public shareholders of both Companies. It is
consistent with the creation of the single economic enterprise and the equal treatment of the two sets of shareholders, that these laws and regulations should operate in this way. The articles of association of Rio Tinto plc and the constitution of
Rio Tinto Limited impose restrictions on any person who controls, directly or indirectly, 20 per cent or more of the votes on a Joint Decision. If, however, such a person only has an interest in either Rio Tinto Limited or Rio Tinto plc, then the
restrictions will only apply if they control, directly or indirectly, 30 per cent or more of the votes at that Company&#146;s general meetings.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">If one of the thresholds specified above is breached then, subject to certain limited exceptions and notification by the relevant Company, such persons
(i) may not attend or vote at general meetings of the relevant Company; (ii) may not receive dividends or other distributions from the relevant Company; and (iii) may be divested of their interest by the directors of the relevant Company. These
restrictions will continue to apply until such persons have either made a public offer for all of the publicly held shares of the other Company, or have reduced their controlling interest below the thresholds specified, or have acquired through a
permitted means at least 50 per cent of the voting rights of all the shares held by the public shareholders of each Company.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">These provisions are designed to ensure that offers for the publicly held shares of both Companies would be required to avoid the restrictions set out
above, even if the interests which breach the thresholds are only held in one of the Companies. The directors do not have the discretion to exempt a person from the operation of these rules.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under the Sharing Agreement, the Companies agree to cooperate to enforce the restrictions contained in their articles of association and constitution and
also agree that no member of the Rio Tinto Group shall accept a third party offer for Rio Tinto Limited shares unless such acceptance is approved by a Joint Decision of the public shareholders of both Companies.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Guarantees</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In
December 1995, each Company entered into a Deed Poll Guarantee in favour of creditors
      of the other Company. Pursuant to the Deed Poll Guarantees, each Company
      guaranteed the contractual obligations of the other Company and the obligations
      of other persons which are guaranteed by the other Company, subject to
      certain limited exceptions. Beneficiaries under the Deed Poll Guarantees
      may make demand upon the guarantor thereunder without first having recourse
      to the Company or persons whose obligations are being guaranteed. The obligations
      of the guarantor under each Deed Poll Guarantee expire upon termination
      of the Sharing Agreement and under other limited circumstances, but only
      in respect of obligations arising after such termination and, in the case
      of other limited circumstances, the publication and expiry of due notice.
      The shareholders of the Companies cannot enforce the provision of the Deed
      Poll Guarantees.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MEMORANDUM AND ARTICLES OF ASSOCIATION</FONT></B></p>
<P><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto
      plc adopted new Articles of Association by Special Resolution passed on
      11 April 2002 and amended on </font><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">14
      April 2005; and Rio Tinto Limited amended its Constitution by Special Resolution
      on 18 April 2002 and on 29 April 2005. The resolutions passed during April
      2005 were in consequence to a growing market practice in Australia for
      companies to undertake off market tender buy backs where the buy back price
      is below the prevailing market prices. Subject to obtaining regulatory
      relief, such buy backs do not require shareholder approval. The effect
      of the resolutions was to make it clear that, provided a buy back complied
      with all applicable laws, it would not require additional shareholder approval
      for purposes of the dual listed companies (&#145;DLC&#146;).</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Introduction</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">As explained
      on pages 128 to 130 under the terms of the DLC merger the shareholders
      of Rio Tinto plc and of Rio Tinto Limited entered into certain contractual
      arrangements which are designed to place the shareholders of both Companies
      in substantially the same position as if they held shares in a single enterprise
      which owned all of the assets of both Companies. Generally and as far as
      is permitted by the UK Companies Act and the Australian Corporations Law
      this principle is reflected in the Memorandum and Articles of Association
      of Rio Tinto plc and in the Constitution of Rio Tinto Limited. The summaries
      below include descriptions of material rights of the shareholders of both
      Rio Tinto plc and Rio Tinto Limited. Unless stated otherwise the Memorandum
      and Articles of Association of and Constitution are identical.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto plc is incorporated under the name &#147;Rio Tinto plc&#148; and is registered in England and Wales with registered number 719885 and Rio Tinto
Limited is incorporated under the name &#147;Rio Tinto Limited&#148; and is registered in Australia with ACN Number 004458404.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No holder of shares, which may be held in either certificated or uncertificated form, will be required to make any additional contributions of
capital.</FONT></p>
  <p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">130</font></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p131"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Objects</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The objects
    of Rio Tinto plc are set out in the fourth clause of its Memorandum of Association
    and the objects of Rio Tinto Limited are set out in the second clause of its
    Constitution. Included in these objects is the right for each Company to enter
    into, with one another, operate and carry into effect an Agreement known as
    the DLC Merger Sharing Agreement and a Deed Poll Guarantee.</FONT></p>

 <TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD colspan="2" align="left" valign="top"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other
    objects of Rio Tinto plc include provisions:</font></TD>
  </TR>
<TR>
  <TD width=3% align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      carry on as an Investment Holding Company;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      subscribe for, sell, exchange or dispose of any type of security or investment;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      purchase any estate or interest in property or assets;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      borrow and raise money to secure or discharge any debt or obligation of
      or binding on the Company;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      draw, make or deal in negotiable or transferable instruments;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      amalgamate with and co-operate with or assist or subsidise any company,
      firm or person and to purchase or otherwise acquire or undertake all or
      any part of the business property or liabilities of any person, body or
      company carrying on any business which this Company is authorised to carry
      on;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      promote the Company;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      lend money and guarantee contracts or obligations of the Company and to
      give all kinds of indemnities;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      sell, lease, grant licences and other rights over any part of the Company;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      procure the registration of the Company outside England;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      subscribe or guarantee money to any national, charitable, benevolent, public,
      general or exhibition which may further the objects of the Company or the
      interest of its members;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      grant pensions or gratuities to employees, ex-employees, officers and ex-officers;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      establish any scheme or trust which may benefit employees;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      lend money to employees to purchase Company shares;</font></TD>
</TR>
<TR>
  <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      purchase and maintain insurance for employees and to carry on the objects
      of the Company in any part of the world either as principals, agents, contractors,
      trustees or otherwise.</font></TD>
</TR>
<TR>
  <TD align="left" valign="top">&nbsp;</TD>
  <TD align="left" valign="top">&nbsp;</TD>
</TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="2" align="left" valign="top"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Other
    objects of Rio Tinto Limited include the powers:</font></TD>
  </TR>
  <TR valign="bottom">
    <TD width=3% align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      prospect for, explore, quarry, develop, excavate, dredge for, open, work,
      win, purchase or otherwise obtain all minerals, metals and substances;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      carry on business as proprietors of and to purchase, take on, lease or in
      exchange or otherwise acquire and control mineral and other properties,
      lands and hereditaments of any tenure, mines and other rights or options
      thereon</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      raise, win, get, quarry, crush, smelt, calcine, refine, dress, amalgamate,
      manipulate and otherwise treat, prepare, sell and deal in ores, metals and
      other products of mines;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      carry on business as ship owners, railway proprietors, motor car, lorry
      and coach proprietors, and garage proprietors, carriers and hauliers, bankers,
      storekeepers, wharfingers, cartage, storage, building and general contractors
      and to buy and sell or otherwise deal in real or personal property of any
      kind;</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      carry on business as manufacturers of and dealers in and exporters and importers
      of goods and merchandise of all kinds and merchants generally; and</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align="left" valign="top"> <FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">to
      guarantee the payment of premiums on any sinking fund or endowment policy
      or policies taken out by any company having objects similar to the objects
      of the Company.</font></TD>
  </TR>
  <TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
  </TR>
</TABLE>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD colspan="2" align="left" valign=top> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Directors<br>
    </FONT></B><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
    Rio Tinto plc's Articles of Association a director may not vote in respect
    of any proposal in which he or any other person connected with him, has any
    material interest other than by virtue of his interests in shares or debentures
    or other securities of or otherwise in or through the Company, except where
    resolutions:</font></TD>
  </TR>
  <TR>
  <TD width="3%" align="left" valign=top> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">indemnify
      him or a third party in respect of obligations incurred by the director
      on behalf of, or for the benefit of, the Company, or in respect of obligations
      of the Company, for which the director has assumed responsibility under
      an indemnity, security or guarantee;</font></TD>
</TR>
<TR>
  <TD align="left" valign=top> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">relate
      to an offer of securities in which he may be interested as a holder of securities
      or as an underwriter;</font></TD>
</TR>
<TR>
  <TD align="left" valign=top> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">concern
      another body corporate in which the director is beneficially interested
      in less than one per cent of the issued shares of any class of shares of
      such a body corporate;</font></TD>
</TR>
<TR>
  <TD align="left" valign=top> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">relate
      to an employee benefit in which the director will share equally with other
      employees; and</font></TD>
</TR>
<TR>
  <TD align="left" valign=top> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(e)</font></TD>
	<TD align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">relate
      to liability insurance that the Company is empowered to purchase for the
      benefit of directors of the Company in respect of actions undertaken as
      directors (or officers) of the Company.</font></TD>
</TR>
<TR>
  <TD colspan="2" align="left" valign=top><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
      Rio Tinto Limited's Constitution, except where a director is constrained
      by Australian law, a director may be present at a meeting of the board
      while a matter in which the director has a material interest is being considered
    and may vote in respect of that matter.</font></TD>
</TR>
</TABLE>

<p>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">131</font></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p132"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
directors are empowered to exercise all the powers of the Companies to borrow
money, to charge any property or business of the Companies or all or any of their
uncalled capital and to issue debentures or give any other</font> security for
a debt, liability or obligation of the Companies or of any other person. The
directors shall restrict the borrowings of Rio Tinto plc to the limitation that
the aggregate  amount of all moneys borrowed by the Company and its subsidiaries
shall not exceed an amount equal to one and one half times the Company&#146;s
share capital plus aggregate reserves unless sanctioned by an ordinary resolution
of the
Company.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Directors are not required to hold any shares of either Company by way of qualification, but a director is nevertheless entitled to attend and speak at
shareholders' meetings. Nevertheless, as disclosed in the Remuneration report on pages 87 to 97 the Remuneration committee has informed the executive directors that they would be expected to build up a shareholding equal in value to two times salary
over five years.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Directors are required to retire in accordance with statutory age limits. Directors who were elected or re-elected a director in the third year before
each annual general meeting are required to retire by rotation and such further directors (if any) shall retire by rotation as would bring the number retiring by rotation up to one third of the number of directors in office at the date of the notice
of meeting (or, if their number is not a multiple of three, the number nearest to but not greater than one third). These further directors required to retire shall be selected from the other directors subject to retirement by rotation who have been
longest in office since their last re-election and where directors were re-elected on the same day then, unless they otherwise agree amongst themselves, they will be selected by the alphabetical order of their names. In addition any director
appointed by the directors since the last annual general meeting is also required to retire. A retiring director shall be eligible for re-election.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In the absence of an independent quorum, the directors are not competent to vote compensation to themselves or to any members of their body.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rights attaching to shares</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
      English law, dividends on shares may only be paid out of profits available
      for distribution, as determined in accordance with generally accepted accounting
      principles and by the relevant law. Shareholders are entitled to receive
      such dividends as may be declared by the directors. The directors may also
      pay shareholders such interim dividends as appear to them to be justified
      by the financial position of the Group.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Any Rio Tinto plc dividend unclaimed after 12 years from the date the dividend was declared, or became due for payment, will be forfeited and returned to
the Company. Any Rio Tinto Limited dividend unclaimed may be invested or otherwise made use of by the board for the benefit of the Company until claimed or otherwise disposed of according to Australian law.</FONT></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2" align="left" valign="top"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Voting
          rights</FONT></B><br>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Voting
      at any general meeting of shareholders is by a show of hands unless on
      a poll, being a written vote, that has been duly demanded. On a show of
      hands, every shareholder who is present in person or by proxy at a general
      meeting has one vote regardless of the number of shares held. On a poll,
      every shareholder who is present in person or by proxy has one vote for
      every ordinary share or share for which he or she is the holder and, in
      the case of Joint Decisions, the holder of the Special Voting Share has
      one vote for each vote cast by the public shareholders at the parallel
      meeting of shareholders. The voting rights attached to the Special Voting
      Share have been set out on pages 128 to 129. A poll may be demanded by
    any of the following:</font></TD>
  </tr>
  <tr>
    <td width="3%" align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      chairman of the meeting;</font></TD>
  </tr>
  <tr>
    <td align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">at
      least five shareholders entitled to vote at the meeting;</font></TD>
  </tr>
  <tr>
    <td align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">any
      shareholder or shareholders representing in the aggregate not less than
      one tenth (Rio Tinto plc) or one</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">twentieth (Rio Tinto Limited) of the total voting rights of
      all shareholders entitled to vote at the meeting;</font></TD>
  </tr>
  <tr>
    <td align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">any
      shareholder or shareholders holding shares conferring a right to vote at
      the meeting on which there have been</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">paid-up sums in the aggregate equal to not less than one tenth
      of the total sum paid up on all the shares conferring</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">that
      right; or</font></TD>
  </tr>
  <tr>
    <td align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      holder of the Special Voting Share.</font></TD>
  </tr>
  <tr>
    <td colspan="2" align="left" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A
        proxy form will be treated as giving the proxy the authority to demand
        a poll, or to join
others in demanding one.</FONT></TD>
  </tr>
  <tr>
    <td colspan="2" align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        necessary quorum for a Rio Tinto plc general meeting is three persons
        and for a Rio Tinto Limited general meeting is two persons carrying a
        right to vote upon the business to be transacted, whether present in
    person or by proxy.</FONT></TD>
  </tr>
</table>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2" align="left" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matters
        are transacted at general meetings by the proposing and passing of resolutions,
    of which there are three kinds:</FONT></TD>
  </tr>
  <tr>
    <td width="3%" align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">an
      ordinary resolution, which includes resolutions for the election of directors,
      the receiving of financial</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">statements, the cumulative annual payment of dividends, the
      appointment of auditors, the increase of authorised</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">share
      capital or the grant of authority to allot shares;</font></TD>
  </tr>
  <tr>
    <td align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a
      special resolution, which includes resolutions amending the Company&#146;s
      Memorandum and Articles of</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">Association, disapplying statutory pre-emption rights or changing
      the Company&#146;s name; and</font></TD>
  </tr>
  <tr>
    <td align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">an
      extraordinary resolution, which includes resolutions modifying the rights
      of any class of the Company&#146;s</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">shares at a meeting of the holders of such class or relating
      to certain matters concerning the Company&#146;s winding</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">up.</font></TD>
  </tr>
</table>

  <p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">132</font></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p133"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">An
ordinary resolution requires the affirmative vote of a majority of the votes
of those persons voting at a meeting at which there is a quorum. Special and
extraordinary resolutions require the affirmative vote of not less than three
fourths</font> of the persons voting at a meeting at which there is a quorum.
In the case of an equality of votes, whether on a show of hands or on a poll,
the chairman of the meeting is entitled to  cast the deciding vote in addition
to any other vote he may have.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The DLC Merger Sharing Agreement further classifies these three kinds of resolutions into &#145;Joint Decisions&#146; and &#145;Class Rights
Actions&#146; as explained on pages 128 to 129.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Annual general meetings must be convened with 21 days advance written notice for Rio Tinto plc and with 28 days for Rio Tinto Limited. Other meetings
must be convened with 21 days advance written notice for the passing of a special resolution and with 14 days for any other resolution, depending on the nature of the business to be transacted. The days of delivery or receipt of the notice are not
included. The notice must specify the nature of the business to be transacted. The board of directors may, if they choose, make arrangements for shareholders who are unable to attend the place of the meeting to participate at other
places.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Variation of Rights</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">If, at
      any time, the share capital is divided into different classes of shares,
      the rights attached to any class may be varied, subject to the provisions
      of the relevant legislation, with the consent in writing of holders of
      three fourths in value of the shares of that class or upon the adoption
      of an extraordinary resolution passed at a separate meeting of the holders
      of the shares of that class. At every such separate meeting, all of the
      provision of the Articles of Association and Constitution relating to proceedings
      at a general meeting apply, except that the quorum is to be the number
      of persons (which must be two or more) who hold or represent by proxy not
      less than one third in nominal value of the issued shares of the class.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The DLC Merger Sharing Agreement provides for the protection of the public shareholders of both Companies and so any variations of rights would be dealt
with as &#145;Class Rights Actions&#146; that require the separate approval of the shareholders of both Companies.</FONT></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2" align="left" valign="top"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rights
          in a Winding-up</FONT></B><br>
      <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Except
      as the shareholders have agreed or may otherwise agree, upon a winding
    up, the balance of assets available for distribution:</font></TD>
  </tr>
  <tr>
    <td width="3%" align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">after
      the payment of all creditors including certain preferential creditors, whether
      statutorily preferred creditors or</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">normal creditors; and</font></TD>
  </tr>
  <tr>
    <td align="left" valign="top"><FONT size=2 face="SymbolMT,Times New Roman,Times,serif">&#8226;</font></TD>
    <td align="left" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">subject
      to any special rights attaching to any class of shares;</font></TD>
  </tr>
  <tr>
    <td colspan="2" align="left" valign="top"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">is
        to be distributed among the holders of ordinary shares according to the
        amounts paid-up on the shares held by them. This distribution is generally
        to be made in cash. A liquidator may, however, upon the adoption of an
        extraordinary resolution of the shareholders, divide among the shareholders
    the whole or any part of the assets in kind. </FONT></TD>
  </tr>
  <tr>
    <td colspan="2" align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The DLC Merger Sharing Agreement further sets out the rights of ordinary shareholders
in a liquidation as explained on page 129.</FONT></TD>
  </tr>
</table>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Limitations on Voting and Shareholding</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There
      are no limitations imposed by either law or Rio Tinto plc's Memorandum
      or Articles of Association or Rio Tinto Limited's Constitution on the right
      of non-residents or foreign persons to hold or vote the ordinary shares
      or ADSs, other than the limitations that would generally apply to all shareholders
      and those that arise from the DLC merger.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There are no restrictions under Rio Tinto plc&#146;s Memorandum and Articles of Association or under English law that limit the right of non resident or
foreign owners to hold or vote its shares. Nor are there any restrictions under Rio Tinto Limited&#146;s constitution or under Australian law that limit the right of non residents to hold or vote its shares, other than under the Foreign Acquisitions
and Takeovers Act 1975, see Limitations on ownership of shares and merger obligations on pages 129 to 130 for details. A description of the change in control provisions triggered by significant share ownership is also set out on pages 129 to
130.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">TAXATION</FONT></B></p>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">UK resident individuals </FONT></B><br>
<b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Taxation
          of dividends</font></i></b><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      carry a tax credit equal to one ninth of the dividend. Individuals who
      are not liable to income tax at the higher rate will have no further tax
      to pay. Higher rate tax payers are liable to tax on UK dividends at 32.5
      per cent which, after taking account of the tax credit, produces a further
tax liability of 25 per cent of the dividend received.</font></p>
<P><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Dividend
            reinvestment plan (DRP)</font></i></b><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The taxation
        effect of participation in the DRP will depend on individual circumstances.
        Shareholders will generally be liable for tax on dividends reinvested in
        the DRP on the same basis as if they had received the cash and arranged
        the investment. The dividend should, therefore, be included in the annual
        tax return in the normal way.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The shares acquired should be added to shareholdings at the date and at the net cost shown on the share purchase advice. The actual cost of the shares,
  for Rio Tinto plc shareholders including the stamp duty/stamp duty reserve tax, will form the base cost for capital gains tax purposes.</FONT></p>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">133</font></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p134"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p> <b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Capital
          gains tax</font></i></b><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shareholders
      who have any queries on capital gains tax issues are advised to consult
      their financial adviser.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A leaflet
      which includes details of relevant events since 31 March 1982 and provides
      adjusted values for Rio Tinto plc securities
      as at that date is available from the company secretary.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Australian resident individuals</FONT></B><br>
<b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Taxation
          of dividends</font></i></b><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The basis
      of the Australian dividend imputation system is that when Australian resident
      shareholders receive dividends from Rio Tinto Limited, they may be entitled
      to a credit for the Australian tax paid by the Group in respect of that
      income, depending on the tax status of the shareholder.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The application of the system results in the Australian tax paid by the Group being allocated to shareholders by way of franking credits attaching to the
dividends they receive. Such dividends are known as franked dividends. A dividend may be partly or fully franked. The current Rio Tinto Limited dividend is fully franked and the franking credits attached to the dividend are shown in the distribution
statement provided to shareholders.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The extent to which a company can frank a dividend depends on the credit balance in its franking account. Credits to this account can arise in a number
of ways, including when a company pays company tax or receives a franked dividend from another company. The dividend is required to be included in a resident individual shareholder&#146;s assessable income. In addition, an amount equal to the
franking credit attached to the franked dividend is also included in the assessable income of the resident individual, who may then be entitled to a rebate of tax equal to the franking credit amount included in their income. Should the franking
credits exceed the tax due, the excess is refunded to the resident individual.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The effect of the dividend imputation system on non resident shareholders is that, to the extent that the dividend is franked, no Australian tax will be
payable and there is an exemption from dividend withholding tax.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A withholding tax is normally levied at the rate of 15 per cent when unfranked dividends are paid to residents of countries with which Australia has a
taxation treaty. Most Western countries have a taxation treaty with Australia. A rate of 30 per cent applies to countries where there is no taxation treaty.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Since 1988, all dividends paid by Rio Tinto Limited have been fully franked. It is the Group&#146;s policy to pay fully franked dividends whenever
possible.</FONT></p>
<P><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Dividend
            reinvestment plan (DRP)</font></i></b><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shareholders
        will generally be liable for tax on dividends reinvested in the DRP on
        the same basis as if they had received the cash and arranged the investment.
        The dividend should therefore be included in the annual tax return as assessable
        income.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The shares acquired should be added to the shareholding at the date of acquisition at the actual cost of the shares, which is the amount of the dividend
applied by the shareholder to acquire shares and any incidental costs associated with the acquisition, including stamp duty, will form part of the cost base or reduced cost base of the shares for capital gains tax purposes.</FONT></p>
<P><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Capital
              gains tax</font></i></b><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Australian
          capital gains tax legislation is complex. If shareholders have acquired
          shares after 19 September 1985 they may be subject to capital gains tax
          on the disposal of those shares.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Generally, disposal of shares held on capital account would give rise to a capital gain or loss. A capital gain arises when the proceeds on disposal are
    greater than the cost base of shares. A capital loss arises when the proceeds on sale are less than the cost base or reduced cost base. Where a capital gain arises on shares held for at least 12 months, individual, trust and superannuation fund
    shareholders may be eligible for a capital gains tax discount.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shareholders are advised to seek the advice of an independent taxation consultant on any possible capital gains tax exposure.</FONT></p>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US resident individuals</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The following
      is a summary of the principal UK tax, Australian tax and US Federal income
      tax consequences of the ownership of Rio Tinto plc ADSs, Rio Tinto plc
      shares, Rio Tinto Limited ADSs and Rio Tinto Limited shares &#145;the Group&#146;s
      ADSs and shares&#146; by a US holder as defined below. It is not intended
      to be a comprehensive description of all the tax considerations that are
      relevant to all classes of taxpayer. Future changes in legislation may
      affect the tax consequences of the ownership of the Group&#146;s ADSs and
      shares.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">It is based in part on representations by the Group&#146;s depositary bank as Depositary for the ADRs evidencing the ADSs and assumes that each
obligation in the deposit agreements will be performed in accordance with its terms.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">You are a US holder if you are a beneficial owner of the Group&#146;s ADSs and shares and you are: a citizen or resident of the United States, a domestic
corporation, an estate whose income is subject to United States federal income tax regardless of its source, or a trust if a United States court can exercise primary supervision over the trust&#146;s administration and one or more United States
persons are authorized to control all substantial decisions of the trust.</FONT><br>
</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">134</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p135"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This
section applies to US holders only if you hold your shares or ADSs as capital
assets for tax purposes. This section does not apply to you if you are a member
of a special class of holders subject to special rules, including: a dealer in securities, a trader in securities that elects to use a mark-to-market method of accounting for securities holdings, a tax-exempt organization, a life insurance company, a
  person liable for alternative minimum tax, a person that actually or constructively owns 10 per cent or more of our voting stock, a person that holds shares or ADSs as part of a straddle or a hedging or conversion transaction, or a US holder whose
  functional currency is not the US dollar.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">This
section is based on the Internal Revenue Code of 1986, as amended, its legislative
history, existing and proposed regulations, published rulings and court decisions,
and on the convention between the United States of America and United Kingdom,
and the convention between the United States of America and Australia which may
affect the tax consequences of the ownership of the Group&#146;s ADSs and
  shares. These laws and conventions are subject to change, possibly on a retroactive
basis.</FONT><table width="100%" border="0" cellpadding="0" cellspacing="0" bgcolor="#CCCCCC">
  <tr>
    <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US
        holders should consult their own tax adviser regarding the United States
        federal, state and local and foreign and other tax consequences of owning
        and disposing
of shares and ADSs in their particular circumstances.</font></td>
  </tr>
</table>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">For the purposes of the Conventions and of the US Internal Revenue Code of 1986, as amended, (the Code) US holders of ADSs are treated as the owners of
  the underlying shares.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The summary describes the treatment applicable under the Conventions in force at the date of this report.</FONT></p>
<P><B><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">UK
        taxation of shareholdings in Rio Tinto plc</FONT></I></B><br><I><FONT size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Taxation of dividends</b></FONT></I><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US holders
      do not suffer deductions of UK withholding tax on dividends paid by Rio
      Tinto plc. Dividends carry a tax credit equal to one ninth of the net dividend,
      or ten per cent of the net dividend plus the tax credit. The tax credit
      is not repayable to US holders.</font></p>
<P><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Capital
            gains</b></font></i><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A US
        holder will not normally be liable to UK tax on capital gains realised
        on the disposition of Rio Tinto plc ADSs or shares unless the holder carries
        on a trade, profession or vocation in the UK through a permanent establishment
        in the UK and the ADSs or shares have been used for the purposes of the
        trade, profession or vocation or are acquired, held or used for the purposes
        of such a permanent establishment.</font></p>
<P><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Inheritance
              tax</font></i></b><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
          the UK Estate Tax Treaty, a US holder, who is domiciled in the US and is
          not a national of the UK, will not be subject to UK inheritance tax upon
          the holder&#146;s death or on a transfer during the holder&#146;s lifetime
          unless the ADSs and shares form part of the business property of a permanent
          establishment in the UK or pertain to a fixed base situated in the UK used
          in the performance of independent personal services. In the exceptional
          case where ADSs or shares are subject both to UK inheritance tax and to
          US Federal gift or estate tax, the UK Estate Tax Treaty generally provides
          for tax payments to be relieved in accordance with the priority rules set
          out in the Treaty.</font></p>
<P><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Stamp
                duty and stamp duty reserve tax</b></font></i><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Transfers
            of Rio Tinto plc ADSs will not be subject to UK stamp duty provided that
            the transfer instrument is not executed in, and at all times remains outside,
            the UK.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Purchases of Rio Tinto plc shares are subject either to stamp duty at a rate of 50 pence per &#163;100 or to stamp duty reserve tax (SDRT) at a rate of
      0.5 per cent. Conversions of Rio Tinto plc shares into Rio Tinto plc ADSs will be subject to additional SDRT at a rate of 1.5 per cent on all transfers to the Depositary or its nominee.</FONT></p>
<P><b><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Australian
                  taxation of shareholdings in Rio Tinto Limited</font></i></b><br>
<i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Taxation of dividends</b></font></i><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US holders
              are not normally liable to Australian withholding tax on dividends paid
              by Rio Tinto Limited because such dividends are normally fully franked
              under the Australian dividend imputation system, meaning that they are
              paid out of income that has borne Australian income tax. Any unfranked
              dividends would suffer Australian withholding tax which under the Australian
              income tax convention is limited to 15 per cent of the gross dividend.</font></p>
<P><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Capital
                    gains</b></font></i><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US holders
                are not normally subject to any Australian tax on the disposal of Rio Tinto
                Limited ADSs or shares unless they have been used in carrying on a trade
                or business wholly or partly through a permanent establishment in Australia,
                or the gain is in the nature of income sourced in Australia.</font></p>
<P><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Gift,
                      estate and inheritance tax</b></font></i><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australia
                  does not impose any gift, estate or inheritance taxes in relation to gifts
                  of shares or upon the death of a shareholder.</font></p>
<P><i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Stamp
                        duty</b></font></i><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">An issue
                    or transfer of Rio Tinto Limited ADSs or a transfer of Rio Tinto Limited
                    shares does not require the payment of Australian stamp duty.</FONT></p>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">135</font></b></td>
  </tr>
</table>

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  <p> <i><font size=2 face="TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif"><b>Dividends</b></font></i><br>
    <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends
      on the Group&#146;s ADSs and shares will generally be treated as dividend
      income for purposes of US Federal income tax. In the case of Rio Tinto
      Limited, the income will be the net dividend plus, in the event of a dividend
      being subject to withholding tax, the withholding tax.</font><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividend
  income will not be eligible for the dividends received deduction allowed to
  US corporations.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dividends paid by Qualified Foreign Corporations (QFCs) are subject to a maximum rate of income tax of 15 per cent. This maximum rate applies to taxable
years beginning before 1 January 2009. Both Rio Tinto plc and Rio Tinto Limited expect to be QFCs throughout this period. To qualify for the 15 per cent maximum income tax rate on dividends the stock of the QFC must be held for more than 60 days
during the 121 day period beginning on the date which is 60 days before the ex-dividend date.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXCHANGE CONTROLS</FONT></B></P>
<P><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto plc</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At present,
        there are no UK foreign exchange controls or other restrictions on the
        import or export of capital or on the payment of dividends to non resident
        holders of Rio Tinto plc shares or that affect the conduct of Rio Tinto
        plc&#146;s operations. The Bank of England, however, upholds international
        law and maintains financial sanctions against specified terrorist organisations
        and specific targets related to certain regimes.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There are no restrictions under Rio Tinto plc&#146;s memorandum and articles of association or under UK law that limit the right of non resident owners
  to hold or vote Rio Tinto plc&#146;s shares.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio Tinto Limited</FONT></B><br>
<font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Under
      existing Australian legislation, the Reserve Bank of Australia does not
      restrict the import and export of funds and no permission is required by
      Rio Tinto Limited for the movement of funds into or out of Australia, except
      that restrictions apply to transactions connected with the following: (a)
      supporters of the former government of the Federal Republic of Yugoslavia;
      and (b) ministers and senior officials of the Government of Zimbabwe;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
      Department of Foreign Affairs and Trade upholds international law that
      prohibit transactions with persons identified as being associated with
      terrorists and their sponsors.</font> <br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto Limited must also deduct withholding tax from foreign remittances of dividends, to the extent that they are unfranked, and from payments of
interest.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There are no limitations under the constitution of Rio Tinto Limited, on the right of non residents, to acquire or hold or vote Rio Tinto Limited
shares.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">However acquisitions of interests in shares in Australian companies by foreign interests are subject to review and approval by the Treasurer of Australia
under the Foreign Acquisitions and Takeovers Act 1975 (the Takeovers Act). The Takeovers Act applies to any acquisition of 15 per cent or more of the outstanding shares of an Australian company or to any transaction that results in one non resident,
or a group of associated non residents, controlling 15 per cent or more of an Australian company. The Takeovers Act also applies to any transaction which results in a group of non associated non residents controlling 40 per cent or more of an
Australian company. Persons who are proposing such acquisitions or transactions are required to notify the Treasurer of their intention. The Treasurer has the power to order divestment in cases where such acquisitions or transactions have already
occurred. The Takeovers Act does not affect the rights of owners whose interests are held in compliance with the legislation.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DOCUMENTS ON DISPLAY</FONT></B></P>
<P> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto
      plc and Rio Tinto Limited file reports and other information with the SEC.
      You may read without charge and copy at prescribed rates any document filed
      at the public reference facilities of the SEC&#146;s principal office at
      450 Fifth Street, NW, Washington, D.C. 20549, United States of America.
      Please call the SEC at 1-800-SEC-0330 for further information on the operation
      of the public reference facilities.</font></P>
<p>&nbsp;</p>
  <table width="100%" border="0" cellpadding="0" cellspacing="0">
    <tr>
      <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
          Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
          20-F</font></i></td>
      <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">136</font></b></td>
    </tr>
  </table>


<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p137"></a>Item
      11.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Quantitative
    and Qualitative Disclosures about Market Risk</font></b></td>
  </tr>
</table>


  <p> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The Rio
      Tinto Group&#146;s policies for currency, interest rate and commodity price
      exposures, and the use of derivative financial instruments are discussed
      in the Financial review on pages 47 to 51. In addition, the Group&#146;s
      quantitative and qualitative disclosures about market risk are set out
      in Note 35 to the 2005 Financial statements. The discussion regarding market
      risk contains certain forward looking statements and attention is drawn
      to the Cautionary statement on page 8.</font></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p137a"></a>Item
      12.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Description
    of Securities other than Equity Securities</font></b></td>
  </tr>
</table>

  <p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Not applicable.</font></p>
  <p align="center"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PART
  II</font></b></P>
<table width="100%"  border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p137b"></a>Item
      13.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Defaults,
          Dividend Arrearages and Delinquencies</font></b></td>
  </tr>
</table>

  <p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There
      are no defaults, dividend arrearages or delinquencies.</font></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p137c"></a>Item
      14.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Material
    Modifications to the Rights of Security Holders and Use of Proceeds</font></b></td>
  </tr>
</table>

  <p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There
      are no material modifications to the rights of security holders.</font></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p137d"></a>Item
      15.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Controls
    and Procedures</font></b></td>
  </tr>
</table>

  <p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">In designing
      and evaluating the disclosure controls and procedures of each of Rio Tinto
      plc and Rio Tinto Limited, the common management of each of Rio Tinto plc
      and Rio Tinto Limited, including their common chief executive and finance
      director, recognised that any controls and procedures, no matter how well
      designed and operated, can provide only reasonable assurance of achieving
      the desired control objectives, and the management of each of Rio Tinto
      plc and Rio Tinto Limited necessarily was required to apply its judgement
      in evaluating the cost-benefit relationship of possible controls and procedures.
      Because of the inherent limitations in all control systems, no evaluation
      of controls can provide absolute assurance that all control issues and
      instances of fraud, if any, within each of Rio Tinto plc and Rio Tinto
      Limited have been detected.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The common management of each of Rio Tinto plc and Rio Tinto Limited with the participation of their common chief executive and finance director have
evaluated the effectiveness of the design and operation of its disclosure controls and procedures as of the period covered by the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Annual report</FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">. Based on that evaluation, the common chief executive and finance director of each of Rio Tinto plc and Rio Tinto Limited have concluded that these disclosure controls and procedures are
effective at the reasonable assurance level.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">There were no significant changes in the internal controls or in other factors that could significantly affect internal controls of each of Rio Tinto plc
and Rio Tinto Limited subsequent to the date of their most recent evaluation.</FONT></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="7%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p137e"></a>Item
      16A. </font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Audit
          Committee
Financial Expert</font></b></td>
  </tr>
</table>

  <p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">See Corporate
      governance on page 119 for information regarding the identification of
      the </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit
      committee </font></i><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial
      expert.</font></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="7%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p137f"></a>Item
      16B.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Code
          of
Ethics</font></b></td>
  </tr>
</table>

  <p><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The
        way we work</font></i><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">,
        Rio Tinto&#146;s statement of business practice, summarises the Group&#146;s
        principles and policies for all directors and employees.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">The way we work </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and the supplementary guidance documents are
discussed more fully under Corporate governance on pages 113 to 119 and in Group society and environment on pages 76 to 80. They can be viewed on Rio Tinto&#146;s website: www.riotinto.com and will be provided to any person without charge upon
written request received by one the company secretaries.</FONT></P>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">137</font></b></td>
  </tr>
</table>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="7%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p138"></a>Item
      16C. </font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Principal
    Accountant Fees and Services</font></b></td>
  </tr>
</table>

  <p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Auditors&#146; remuneration
      including audit fees, audit related fees, further assurance services, taxation
      services and all other fees have been dealt with in Note 44 of the 2005
      Financial statements.</font><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio Tinto has adopted policies designed to uphold the independence of the Group&#146;s principal auditors by prohibiting their engagement to provide a
range of accounting and other professional services that might compromise their appointment as independent auditors. The engagement of the Group&#146;s principal auditors to provide statutory audit services, certain other assurance services, tax
services and certain limited other services are pre approved. Any engagement of the Group&#146;s principal auditors to provide other permitted services is subject to the specific approval of the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or its chairman.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Prior to the commencement of each financial year the Group&#146;s Finance director and its principal auditors submit to the </FONT><I><FONT size=2
face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a schedule of the types of services that are expected to be performed during the following year
for its approval. The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">may impose a US dollar limit on the total value of
other permitted services that can be provided. Any non audit service provided by the Group&#146;s principal auditors, where the expected fee exceeds a pre determined level, must be subject to the Group&#146;s normal tender procedures.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">However, in exceptional circumstances the Finance director is authorised to engage the Group&#146;s principal auditors to provide such services without
going to tender, but if the fees are expected to exceed &#36;250,000 then the chairman of the audit committee must approve the engagement.</FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee </FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">adopted policies for the pre approval of permitted services provided by the Group&#146;s principal auditors during 2003. All of the engagements for services provided by the Group&#146;s principal
auditors since the adoption of these policies were either within the pre approval policies or approved by the </FONT><I><FONT size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Audit committee</FONT></I><FONT size=2
face="TimesNewRomanPSMT,Times New Roman,Times,serif">.</FONT></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="7%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p138a"></a>Item
      16D.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exemptions
    from the Listing Standards for Audit Committees</font></b></td>
  </tr>
</table>

  <p><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Not applicable.</font></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="7%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p138b"></a>Item
      16E. </font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Purchases
    of Equity Securities by the Issuer and Affiliated Purchasers</font></b></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD colspan="5"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD colspan="5"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited</FONT> </TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD colspan="5"><HR noshade size=1></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD colspan="5"><HR noshade size=1></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Period</FONT></TD>
    <TD rowspan="6" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)
      Total</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">number
      of</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shares</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">purchased</FONT><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD rowspan="6" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)
      Average</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">paid
      per share</FONT><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD rowspan="6" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)
      Total number</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
      shares</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">purchased
      as part</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
      publicly</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">announced
      plans</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or
      programmes</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD rowspan="6" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(a)
      Total</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">number
      of</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shares</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">purchased</FONT><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD rowspan="6" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(b)
      Average</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">price</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">paid
      per share</FONT><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD rowspan="6" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)
      Total number</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
      shares</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">purchased
      as part</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of
      publicly</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">announced
      plans</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or
      programmes</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD rowspan="6" valign="top"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(d)
      Approximate</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">dollar
      value of</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">shares
      that may</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">yet
      be purchased</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">under
      the plans</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">or
      programmes</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
  </TR>
  <TR align="right" valign="bottom">
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;</FONT></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD><b><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></b></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">US&#36;m</FONT></TD>
    <TD><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</FONT></TD></TR>
  <TR valign="bottom">
    <TD align=left><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2005</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan to 31 Jan</FONT></TD>
    <TD width=8% align=right bgcolor="#eeeeee"> <font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% bgcolor="#eeeeee"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font> </TD>
    <TD width=8% align=right bgcolor="#eeeeee"><font face="TimesNewRomanPSMT,Times New Roman,Times,serif"> &#8212;</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% bgcolor="#eeeeee">&nbsp; </TD>
    <TD width=8% align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD width=2% align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Feb to 28 Feb</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,500</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Mar to 31 Mar</FONT></TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,500</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Apr to 30 Apr</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">317,985</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">32.88</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">581,760</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35.25</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,500</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      May to 31 May</FONT></TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27,294,139</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">28.36</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">27,294,139</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">726</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jun to 30 Jun</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">726</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jul to 31 Jul</FONT></TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">726</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Aug to 31 Aug</FONT></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">726</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Sep to 30 Sep</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">435,855</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">35.47</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">501,783</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.40</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">726</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Oct to 31 Oct</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">37.88</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">684</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Nov to 30 Nov</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">950,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">39.55</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">950,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">647</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Dec to 31 Dec</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">550,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">43.59</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">550,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">623</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total</FONT></B></TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">3,353,840</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">38.50</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,600,000</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">28,377,682</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">28.70</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">27,294,139</FONT></B></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=left bgcolor="#eeeeee">&nbsp; </TD>
    <TD align=left bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2006</FONT></B></TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Jan to 31 Jan</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,965,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48.17</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,965,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">118,728</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">53.69</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">528</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Feb to 28 Feb</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,200,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">48.65</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,200,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">403,712</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">54.74</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,296</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Mar to 31 Mar</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,710,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">46.83</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3,710,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">348,943</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">52.61</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,122</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      Apr to 30 Apr</FONT></TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,749,659</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55.64</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,750,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,229,034</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">60.73</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2,025</FONT></TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1
      May to 31 May</FONT></TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,750,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">55.25</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4,750,000</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">74,764</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">63.64</FONT></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD bgcolor="#eeeeee">&nbsp;</TD>
    <TD align=right bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1,763</FONT></TD>
    <TD align=right bgcolor="#eeeeee">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Total</FONT></B></TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">17,374,659</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">50.84</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">16,375,000</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">2,175,181</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD align=right> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">58.03</FONT></B></TD>
    <TD>&nbsp;</TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8212;</font></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=right><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD align=left><HR noshade size=1></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">138</font></b></td>
  </tr>
</table>



<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD colspan="3"> <B><FONT size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Notes</FONT></B></TD>
  </TR>
  <TR valign="bottom">
    <TD width=3% valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.</FONT></TD>
    <TD colspan="2" align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc ordinary shares of 10p each; Rio Tinto Limited shares</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On
      3 February 2005 the Group announced, subject to market conditions, an intention
      to return up to US&#36;1,500 million of capital to shareholders during the
      course of 2005 and 2006, and that this would include an off-market buy back
      of Rio Tinto Limited shares through a tender process.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
      the annual general meetings held during April 2005 the shareholders:</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font size="1">&nbsp;</FONT></TD>
    <TD width="3%" valign="top"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8226;</FONT></TD>
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">renewed
      the general authority to buy back up to 106.8 million of Rio Tinto plc&#146;s
      ordinary shares, representing approximately ten per cent of its issued share
      capital;</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font size="1">&nbsp;</FONT></TD>
    <TD valign="top"> <font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8226;</FONT></TD>
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">approved
      Rio Tinto Limited undertaking one or more off-market buy backs of its shares,
      through a tender process at a discount of between eight to 14 per cent under
      which part of the buy back price would be treated as a fully franked dividend
      for Australian tax purposes, during the 12 months following the approval,
      provided that any Rio Tinto Limited shares bought back under any such buy
      back tender plus any Rio Tinto Limited shares bought back on-market would
      not exceed ten per cent of the minimum number of publicly-held Rio Tinto
      Limited shares on issue during that 12 month period;</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font size="1">&nbsp;</FONT></TD>
    <TD valign="top"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      &#8226;</FONT></TD>
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">approved
      the terms of an off-market buy back of Rio Tinto Limited shares held (indirectly)
      by Rio Tinto plc so that its percentage interest would not increase as a
      result of any off-market buy back tender from the public;</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font size="1">&nbsp;</FONT></TD>
    <TD valign="top"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">
      &#8226;</FONT></TD>
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">renewed
      the shareholder authorities to buy back up to all the Rio Tinto Limited
      shares held (indirectly) by Rio Tinto plc and to buy back Rio Tinto Limited
      ordinary shares on-market, but in the case of any on-market buy backs only
      to the extent that such buy backs, plus any buy backs under any off-market
      buy back tender, would not in any 12 month period exceed ten per cent of
      the minimum number of publicly-held shares on issue in Rio Tinto Limited
      during that 12 month period.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
      the annual general meetings held during April and May 2006 the shareholders:</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font size="1">&nbsp;</FONT></TD>
    <TD valign="top"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8226;</FONT></TD>
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">renewed
      the general authority to buy back up to 106.5 million of Rio Tinto plc&#146;s
      ordinary shares, representing approximately ten per cent of its issued share
      capital;</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font size="1">&nbsp;</FONT></TD>
    <TD align=left valign="top"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8226;</FONT></TD>
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">approved
      buy backs by Rio Tinto Limited under off-market buy back tenders and / or
      on-market over the 12 months following approval, provided that the number
      bought back did not exceed 28.5 million shares;</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD><font size="1">&nbsp;</FONT></TD>
    <TD align=left valign="top"><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#8226;</FONT></TD>
    <TD align=left valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">renewed
      the shareholder authorities to buy back up to all the Rio Tinto Limited
      shares held (indirectly) by Rio Tinto plc.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On
         9 May 2005, Rio Tinto Limited bought back 27,294,139 shares, representing

      8.7 per cent of its publicly held issued share capital, under the off-market
         tender and 16,367,000 shares held (indirectly) by Rio Tinto plc. All
        of
      these shares were purchased at a price of A$36.70 (US$28.36)
      per share representing a 14 per cent discount to the relevant market price
      and were cancelled.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">6.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">During
      2005 Rio Tinto plc bought back 2,600,000 ordinary shares on the open market
      for an aggregate consideration of &#36;103.2 million and held these as treasury
      shares.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">7.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">During
      2005, Rio Tinto plc purchased 753,840 ordinary shares and Rio Tinto Limited
      purchased 1,083,543 shares on the open market to satisfy obligations to
      shareholders under the dividend reinvestment plans.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">On
      2 February 2006 the Group announced an intention to return up to US&#36;4,000
      million of capital to shareholders, of which US&#36;1,500 million would
      be paid out as a special dividend and, subject to market conditions, the
      remaining US&#36;2,500 million of capital to be applied to buy backs of
      either Rio Tinto Limited or Rio Tinto plc shares. This would replace the
      US&#36;528 million remainder of the initiative announced on 3 February 2005.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">9.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Between
      1 January 2006 and 31 May 2006 Rio Tinto plc bought back 16,375,000 ordinary
      shares on the open market for an aggregate consideration of &#36;832.6 million
      and held them as treasury shares.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Between
      1 January 2006 and 31 May 2006 Rio Tinto Limited purchased 1,258,673 shares
      on the open market for an aggregate consideration of &#36;70.4 million to
      satisfy obligations on the exercise of options under employee share plans,
      but these purchases were not considered to be under any publicly announced
      programme.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">11.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Between
      1 January 2006 and 31 May 2006 Rio Tinto plc purchased 999,659 ordinary
      shares and Rio Tinto Limited purchased 916,508 shares on the open market
      to satisfy obligations to shareholders under the dividend reinvestment plans.</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD valign="top"> <FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.</FONT></TD>
    <TD colspan="2" align=left valign="top"><FONT size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      average prices paid have been translated into US dollars at the exchange
      rate on the settlement date.</FONT></TD>
  </TR>
</TABLE>
<P align="center">
<B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PART III</FONT></B></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p139"></a>Item
      17</FONT><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">.</FONT></B></td>
    <td><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial
    Statements</FONT></B></td>
  </tr>
</table>



<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Not applicable.</FONT></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p139a"></a>Item
      18.</FONT></B></td>
    <td><B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial
    Statements</FONT></B></td>
  </tr>
</table>

<P>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The 2005 Annual report and financial statements and the 2005 Financial statements including reconciliation to US accounting principles of the Rio Tinto Group (&#147;the Group&#148;)
and of the Rio Tinto plc and Rio Tinto Limited parts of the Group were furnished on Form 6-K for the month of March 2006. </FONT><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The 2005 Financial statements including reconciliation to US accounting principles of the Rio Tinto Group (&#147;the Group&#148;) and of the Rio Tinto
plc and Rio Tinto Limited parts of the Group are incorporated by reference to Exhibit 99.2 of Rio Tinto plc's Form 6-K for the month of March 2006 furnished on 6 April 2006, File No. 1-10533)</FONT></P>
  <p>&nbsp;</p>

<table width="100%" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">139</font></b></td>
  </tr>
</table>


<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<table width="100%%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="6%"><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><a name="p140"></a>Item
      19.</font></b></td>
    <td><b><font size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exhibits</font></b></td>
  </tr>
</table>
<P><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibits
      marked &#147;*&#148; have been filed with this annual report on Form 20-F
  and other exhibits have been incorporated by reference as indicated.</FONT></P>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Index</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Exhibit</font></b></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Number</font></b></TD>
    <TD> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Description</font></b></TD>
  </TR>
  <TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD width="6%"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.1</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      and Articles of Association of Rio Tinto plc (adopted by special resolution
      passed on 11 April</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002
      and amended on 14 April 2005) (incorporated by reference to Exhibit 4.23
      of Rio Tinto plc's Annual report</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">on
      Form 20-F for the financial year ended 31 December 2004, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.2</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Constitution
      of Rio Tinto Limited (ACN 004 458 404) (as adopted by special resolution
      passed on 24 May 2000</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      amended by special resolution on 18 April 2002 and 29 April 2005) (incorporated
      by reference to Exhibit</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.23
      of Rio Tinto plc's Annual report on Form 20-F for the financial year ended
      31 December 2004, File No. 1-</FONT><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.1</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">DLC
      Merger Implementation Agreement, dated 3 November 1995 between CRA Limited
      and The RTZ</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corporation
      PLC relating to the implementation of the DLC merger (incorporated by reference
      to Exhibit 2.1 of</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc's Annual report on Form 20-F for the financial year ended 31 December
      1995, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.2</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">DLC
      Merger Sharing Agreement, dated 21 December 1995 and amended on 29 April
      2005 between CRA</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Limited
      and The RTZ Corporation PLC relating to the ongoing relationship between
      CRA and RTZ following</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      DLC merger (incorporated by reference to Exhibit 4.23 of Rio Tinto plc's
      Annual report on Form 20-F for the</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial
      year ended 31 December 2004, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.3</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">RTZ
      Shareholder Voting Agreement, dated 21 December 1995 between The RTZ Corporation
      PLC, RTZ</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Shareholder
      SVC Pty. Limited, CRA Limited, R.T.Z. Australian Holdings Limited and The
      Law Debenture Trust</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Corporation
      p.l.c. (incorporated by reference to Exhibit 2.3 of Rio Tinto plc's Annual
      report on Form 20-F for the</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial
      year ended 31 December 1995, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3.4</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">CRA
      Shareholder Voting Agreement, dated 21 December 1995 between CRA Limited,
      CRA Shareholder SVC</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Limited,
      The RTZ Corporation PLC and The Law Debenture Trust Corporation p.l.c.,
      relating to the RTZ</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Special
      Voting Share (incorporated by reference to Exhibit 2.4 of Rio Tinto plc's
      Annual report on Form 20-F for</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      financial year ended 31 December 1995, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.01</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Letter
      dated 1 January 1992 to Mr R Adams about supplementary pension arrangements
      (incorporated by</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reference
      to Exhibit 4.23 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December
      2000, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.02</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplementary
      letter dated 1 January 1992 to Mr R Adams about pension arrangements (incorporated
      by</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reference
      to Exhibit 4.24 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December
      2000, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.03</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Letter
      dated 22 November 1994 to Mr R Adams about supplementary pension arrangements
      (incorporated by</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reference
      to Exhibit 4.29 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December
      2000, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.04</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Letter
      dated 20 January 1997 to Mr R Adams about directors' pension arrangements
      (incorporated by reference to</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibit
      4.32 of Rio Tinto plc's Annual report on Form 20-F for the financial year
      ended 31 December 2001, File</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">No.
      1-10533).</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.05</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Service
      Agreement dated 15 April 2003 between Mr R Adams and Rio Tinto London Limited
      (incorporated by</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reference
      to Exhibit 4.30 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      December 2002, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.06</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      effective 1 March 2004 to Service Agreement dated 15 April 2003 between
      Mr R Adams and Rio</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      London Limited (incorporated by reference to Exhibit 4.06 of Rio Tinto plc's
      Annual report on Form 20-F</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
      the financial year ended 31 December 2003, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <a href="b832238ex4-07.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.07*</FONT></a></TD>
    <TD> <a href="b832238ex4-07.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Service
      Agreement dated 12 April 2006 between Mr T Albanese and Rio Tinto London
      Limited</FONT></a></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.08</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Service
      Agreement dated 30 March 2004 between Mr R L Clifford and Rio Tinto Limited
      (incorporated by</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reference
      to Exhibit 4.23 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">December
      2004, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.09</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Supplemental
      letter dated 30 March 2004 to Service Agreement dated 30 March 2004 between
      Mr R L Clifford</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and
      Rio Tinto Limited (incorporated by reference to Exhibit 4.23 of Rio Tinto
      plc's Annual report on Form 20-F</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
      the financial year ended 31 December 2004, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.10</FONT></TD>
    <TD> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      effective 1 March 2005 to Service Agreement dated 30 March 2004 between
      Mr R L Clifford and</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited (incorporated by reference to Exhibit 4.23 of Rio Tinto plc's
      Annual report on Form 20-F for</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      financial year ended 31 December 2004, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD> <a href="b832238ex4-11.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.11*</FONT></a></TD>
    <TD> <a href="b832238ex4-11.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      effective 1 March 2006 to Service Agreement dated 30 March 2004 between
      Mr R L Clifford and</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited</FONT></a></TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">140</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p141"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="top">
    <TD width=6%> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.12</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Service
      Agreement dated 19 June 2002 between Mr G R Elliott and Rio Tinto London
      Limited (incorporated by</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reference
      to Exhibit 4.31 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">31
      December 2002, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.13</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      effective 1 March 2003 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      Limited (incorporated by reference to Exhibit 4.32 of Rio Tinto plc's Annual
      report on Form 20-F for the</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial
      year ended 31 December 2002, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.14</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      effective 1 March 2004 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      London Limited (incorporated by reference to Exhibit 4.32 of Rio Tinto plc's
      Annual report on Form 20-F</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
      the financial year ended 31 December 2002, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.15</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      effective 1 March 2005 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      London Limited (incorporated by reference to Exhibit 4.23 of Rio Tinto plc's
      Annual report on Form 20-F</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
      the financial year ended 31 December 2004, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><a href="b832238ex4-16.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.16*</FONT>
      </a></TD>
    <TD><a href="b832238ex4-16.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Memorandum
      effective 1 March 2006 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Tinto
      London Limited</FONT></a></TD>
  </TR>
  <TR valign="top">
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.17</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mining
      Companies Comparative Plan (incorporated by reference to Exhibit 4.65 of
      Rio Tinto plc's Annual report</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">on
      Form 20-F for the financial year ended 31 December 2000, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.18</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Share
      Option Plan (incorporated by reference to Exhibit 4.66 of Rio Tinto plc's
      Annual report on Form 20-F for</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the
      financial year ended 31 December 2000, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.19</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Medical
      expenses plan (incorporated by reference to Exhibit 4.67 of Rio Tinto plc's
      Annual report on Form 20-F</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
      the financial year ended 31 December 2000, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4.20</FONT></TD>
    <TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pension
      plan (incorporated by reference to Exhibit 4.68 of Rio Tinto plc's Annual
      report on Form 20-F for the</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial
      year ended 31 December 2000, File No. 1-10533)</FONT></TD>
  </TR>
  <TR valign="top">
    <TD><a href="b832238ex8-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">8.1*</FONT></a></TD>
    <TD><a href="b832238ex8-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">List
      of subsidiary companies.</FONT></a></TD>
  </TR>
  <TR valign="top">
    <TD><a href="b832238ex12-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">12.1*</FONT></a></TD>
    <TD><a href="b832238ex12-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Certifications
      pursuant to Rule 13a-14(a) of the Exchange Act.</FONT></a></TD>
  </TR>
  <TR valign="top">
    <TD><a href="b832238ex13-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">13.1*</FONT></a></TD>
    <TD><a href="b832238ex13-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Certifications
      furnished pursuant to Rule 13a-14(b) of the Exchange Act (such certificates
      are not deemed filed</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">for
      purpose of Section 18 of the Exchange Act and are not incorporated by reference
      with any filing under the</FONT> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Securities
      Act).</FONT></a></TD>
  </TR>
  <TR valign="top">
    <TD><a href="b832238ex15-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">15.1*</FONT></a></TD>
    <TD><a href="b832238ex15-1.htm"><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Consent
      of Independent Accountants.</FONT></a></TD>
  </TR>
</TABLE>
<P>&nbsp;</P>

<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><font size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">141</font></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p142"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P align="left">
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SIGNATURE</FONT></B></P>
<P align="left"><font size="2" face="TimesNewRomanP">The Registrants hereby certify that they meet all of the requirements for filing
  on Form 20-F and that they have duly caused and authorised the undersigned to
  sign this Annual Report on their behalf.</font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR align="left" valign="bottom">
    <TD><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Rio
      Tinto plc</b></font></TD>
    <TD>&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Rio
      Tinto Limited</b></font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD width="42%"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Registrant)</font></TD>
    <TD>&nbsp;</TD>
    <TD width="54%"> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Registrant)</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><u>/s/
      Anette Lawless</u></font></TD>
    <TD>&nbsp;</TD>
    <TD><u><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/
      Anette Lawless</font></u></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: <font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Anette
             Lawless</b></font></font></TD>
    <TD>&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name: </font><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><b>Anette
           Lawless</b></font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title:
      Secretary</font></TD>
    <TD>&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Title:
        Assistant  Secretary</font></TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR align="left" valign="bottom">
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date:
      23 June 2006</font></TD>
    <TD>&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date:
      23 June 2006</font></TD>
  </TR>
</TABLE>

<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">142</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div>
<page> <a name="p143"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<P align="center">
<B><FONT size="3" face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">GLOSSARY</FONT></B></P>
<P align="left"><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">NON MINING DEFINITIONS</FONT></B></P>
<font size="2" face="TimesNewRomanP">Throughout this document, the collective expressions
  Rio Tinto, Rio Tinto Group and Group are used for convenience only. Depending
  on the context in which they are used, they mean Rio Tinto plc and/or Rio Tinto
  Limited and/or one or more of the individual companies in which Rio Tinto plc
  and/or Rio Tinto Limited directly or indirectly own investments, all of which
  are separate and distinct legal entities.</font>

  <p><font size="2" face="TimesNewRomanP">Unless the context indicates otherwise, the following
    terms have the meanings shown below:</font></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="top">
	<TD width=20%><font size="2" face="TimesNewRomanP"> <B>Adjusted earnings</B>&nbsp;</font></TD>
	<TD width=4%>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">An
      additional measure of earnings reported by Rio Tinto with its UK GAAP results
      which excludes exceptional items of such magnitude that their exclusion
      is necessary to reflect the underlying performance of the Group.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>ADR</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">American
      Depositary Receipt evidencing American Depositary Shares (ADS).</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Australian dollars</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian
      currency. Abbreviates to A&#36;</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Australian GAAP</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Generally
      accepted accounting principles in Australia.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>A IFRS</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      Australian equivalent of International Financial Reporting Standards.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Billion</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">One
      thousand million.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Canadian dollars</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Canadian
      currency. Abbreviates to C&#36;</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Company / Companies</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc and/or Rio Tinto Limited. As the context so requires.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>DLC merger</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dual
      listed companies merger (1995).</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>EU IFRS</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">International
      Financial Reporting Standards as adopted by the European Union.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>IFRS</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">International
      Financial Reporting Standards</FONT></TD>
</TR>
<TR valign="top">
	<TD><FONT size=2 face="TimesNewRomanP"><b>LBMA</b></FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">London
      Bullion Market Association</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>LME</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">London
      Metal Exchange.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>New Zealand dollars</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">New
      Zealand currency. Abbreviates to NZ&#36;</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Pounds sterling</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">UK
      currency. Abbreviates to &#163;, pence or p.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Public shareholders</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      holders of Rio Tinto plc shares that are not companies in the Rio Tinto
      Limited Group and the holders of Rio Tinto Limited shares that are not companies
      in the Rio Tinto plc Group.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rand</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">South
      African currency. Abbreviates to R.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited, and, where the context permits, its subsidiaries, jointly
      controlled entities and associated companies.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited ADS</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">An
      American Depositary Share representing the right to receive four Rio Tinto
      Limited shares.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited Group</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited and its subsidiaries, jointly controlled entities and associated
      companies.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited</B><br>
<b>shareholders</b>&nbsp;	</font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      holders of Rio Tinto Limited shares.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      agreement, dated 21 December 1995, between Rio Tinto plc, Rio Tinto Limited,
      RTL Shareholder</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Shareholder Voting<br>
Agreement</B>&nbsp;&nbsp;
	</font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">SVC
      Limited and the Law Debenture Trust Corporation p.l.c. relating to the voting
      rights of the Rio Tinto plc Special Voting Share at meetings of shareholders
      of Rio Tinto plc.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited shares</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      ordinary shares in Rio Tinto Limited.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited /</B><br>
<b>RTL
DLC Dividend Share</b></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      DLC Dividend Share in Rio Tinto Limited.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Limited /</B> <b><br>
    RTL
Special Voting Share</b></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      Special Voting Share in Rio Tinto Limited.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto plc</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc and its subsidiaries, jointly controlled entities and associated
      companies.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto plc ADS</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">An
      American Depositary Share representing the right to receive four Rio Tinto
      plc ordinary shares.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto plc Group</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc and its subsidiaries, jointly controlled entities and associated
      companies.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto plc ordinary shares</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      ordinary shares of 10p each in Rio Tinto plc.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto plc shareholders</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      holders of Rio Tinto plc shares.</FONT></TD>
</TR>
<TR valign="top">
	<TD><font size="2" face="TimesNewRomanP"> <B>Rio Tinto Shareholder Voting
      Agreement</B></font></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      agreement, dated 21 December 1995, between Rio Tinto plc, Rio Tinto Australian
	     Holdings Limited, RTP Shareholder SVC Pty Limited, Rio Tinto Limited
	    and
      the Law Debenture Trust Corporation p.l.c. relating to the voting rights
	     of the Rio Tinto Limited shares held by the Rio Tinto plc group and
	    the
      Rio Tinto Limited Special Voting Share at meetings of Rio Tinto Limited
    shareholders.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">143</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p144"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="top">
	<TD width=20%> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto plc shares</FONT></B></TD>
	<TD width=4%>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto plc ordinary shares.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto plc /</FONT></B><br>
<b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RTP
DLC Dividend Share</font></b></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      DLC Dividend Share of 10p in Rio Tinto plc.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rio
      Tinto plc /<br>
</FONT></B>
<b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">RTP
Special Voting Share</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      Special Voting Share of 10p in Rio Tinto plc.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Share
      / shares</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
      Tinto Limited shares or Rio Tinto plc ordinary shares, as the context requires.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Sharing
      Agreement</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      agreement, dated 21 December 1995, as amended between Rio Tinto Limited
      and Rio Tinto plc relating to the regulation of the relationship between
      Rio Tinto Limited and Rio Tinto plc following the DLC merger.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">UK
      GAAP</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Generally
      accepted accounting principles in the UK.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US
      dollars</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">United
      States currency. Abbreviates to dollars, &#36; or US&#36; and US cents or
      USc.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">US
      GAAP</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Generally
      accepted accounting principles in the United States.</FONT></TD>
</TR>
</TABLE>
<P>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MINING AND TECHNICAL DEFINITIONS</FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="top">
	<TD width=20%> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Alumina</FONT></B></TD>
	<TD width=4%>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Aluminium
      oxide. It is extracted from bauxite in a chemical refining process and is
      subsequently the principal raw material in the electro-chemical process
      by which aluminium is produced.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Anode
      and cathode copper</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">At
      the final stage of the smelting of copper concentrates, the copper is cast
      into specially shaped slabs called anodes for subsequent refining to produce
      refined cathode copper.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Bauxite</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mainly
      hydrated aluminium oxides (Al</FONT><SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2
      </FONT></SUB><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">O</FONT><SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3
      </FONT></SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">.2H</FONT><SUB><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">2 </FONT></SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">O).
      Principal ore of alumina, the raw material from which aluminium is made.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Beneficiated
      bauxite</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Bauxite
      ore that has been treated to remove waste material to improve its physical
      or chemical characteristics.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Bioleaching</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      deliberate use of bacteria to speed the chemical release of metals from
      ores.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Block
      caving</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">An
      underground bulk mining method. It involves undercutting the orebody to
      induce ore fracture and collapse by gravity. The broken ore is recovered
      through draw points below.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Borates</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A generic
      term for mineral compounds which contain boron and oxygen.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Cathode
      copper</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Refined
      copper produced by electrolytic refining of impure copper or by electro-winning.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Classification</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Separating
      crushed and ground ore into portions of different size particles.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Coking
      coal.</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Also
      referred to as metallurgical coal. By virtue of its carbonisation properties,
      it is used in the manufacture of coke, which is used in the steel making
      process.</FONT> </TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Concentrate</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      product of a physical concentration process, such as flotation or gravity
      concentration, which involves separating ore minerals from unwanted waste
      rock. Concentrates require subsequent processing (such as smelting or leaching)
      to break down or dissolve the ore minerals and obtain the desired elements,
      usually metals.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Cutoff
      grade</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      lowest grade of mineralised material considered economic to process. It
      is used in the calculation of the quantity of ore present in a given deposit.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Dor&eacute;</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A precious
      metal alloy which is produced by smelting. Dor&eacute; is an intermediate
      product which is subsequently refined to produce pure gold and silver.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DWT</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Dead
      weight tons is the combined weight in long tons (2,240 pounds weight) of
      cargo, fuel and fresh water that a ship can carry.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Flotation</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A method
      of separating finely ground minerals using a froth created in water by specific
      reagents. In the flotation process certain mineral particles are induced
      to float by becoming attached to bubbles of froth whereas others, usually
      unwanted, sink.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FOB</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Free
      on board.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Grade</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      proportion of metal or mineral present in ore, or any other host material,
      expressed in this document as per cent, grammes per tonne or ounces per
      ton.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Head
      grade</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      average grade of ore delivered to the mill.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ilmenite</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mineral
      composed of iron, titanium and oxygen.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ore</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A rock
      from which a metal(s) or mineral(s) can be economically and legally extracted.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ore
      milled</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      quantity of ore processed.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ore
      hoisted</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      quantity of ore which is removed from an underground mine for processing.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Ore
      reserve</FONT></B></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">That
      part of a mineral deposit which could be economically and legally extracted
      or produced at the time of the reserve determination.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
        20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">144</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p145"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="top">
	<TD width=18%> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Pressure
      oxidation</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A method
      of treating sulphide ores. In the case of refractory gold ores, the object
      is to oxidise the sulphides to sulphates and hence liberate the gold for
      subsequent cyanide leaching. The technique involves reaction of the ore
      with sulphuric acid under pressure in the presence of oxygen gas.</FONT></TD>
</TR>
<TR valign="top">
	<TD><b><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Probable
      ore reserves</FONT></b></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves
      for which quantity and grade and/or quality are computed from information
      similar to that used for proven reserves, but the sites for inspection,
      sampling and measurement are farther apart or are otherwise less adequately
      spaced. The degree of assurance, although lower than that for proven reserves,
      is high enough to assume continuity between points of observation.</FONT></TD>
</TR>
<TR valign="top">
	<TD><b><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Proven
      ore reserves</FONT></b></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Reserves
      for which (a) quantity is computed from dimensions revealed in outcrops,
      trenches, workings or drill holes; grade and/or quality are computed from
      the results of detailed sampling and (b) the sites for inspection, sampling
      and measurement are spaced so closely and the geologic character is so well
      defined that size, shape, depth and mineral content of reserves are well
      established.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rock
      mined</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      quantity of ore and waste rock excavated from the mine. In this document,
      the term is only applied to surface mining operations.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Rutile</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A mineral
      composed of titanium and oxygen (TiO</FONT><SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2
      </FONT></SUB><FONT size=2 face="TimesNewRomanPSMT,Times
New Roman,Times,serif">).</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Steam
      coal</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Also
      referred to as steaming coal, thermal coal or energy coal. It is used as
      a fuel source in electrical power generation, cement manufacture and various
      industrial applications.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Stripping
      ratio</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      tonnes of waste material which must be removed to allow the mining of one
      tonne of ore.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Solvent
      extraction and electrowinning (SX-EW)</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Processes
      for extracting metal from an ore and producing pure metal. First the metal
      is leached into solution; the resulting solution is then purified in the
      solvent extraction process; the solution is then treated in an electro-chemical
      process (electro-winning) to recover cathode copper.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Tailing</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
      rock wastes which are rejected from a concentrating process after the recoverable
      valuable minerals have been extracted.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Titanium
      dioxide</FONT></B> <b><font size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">feedstock</font></b></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">A feedstock
      rich in titanium dioxide, produced, in Rio Tinto&#146;s case, by smelting
      ores containing titanium minerals.</FONT></TD>
</TR>
<TR valign="top">
	<TD><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Zircon</FONT></B></TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Zirconium
      mineral (ZrSiO</FONT><SUB><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT></SUB><FONT size=2 face="TimesNewRomanPSMT,Times New
Roman,Times,serif">).</FONT></TD>
</TR>
<TR valign="top">
    <TD colspan=2>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD colspan=2> <B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CONVERSION
      OF WEIGHTS AND MEASURES</FONT></B></TD>
</TR>
<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 troy
      ounce = 31.1 grams</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 kilogram
      = 32.15 troy ounces</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 kilogram
      = 2.2046 pounds</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 metric
      tonne = 1,000 kilograms</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 metric
      tonne = 2,204.6 pounds</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 metric
      tonne = 1.1023 short tons</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 short
      ton = 2,000 pounds</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 long
      ton = 2,240 pounds</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 gram
      per metric tonne = 0.02917 troy ounces per short ton</FONT></TD>
</TR>
<TR valign="top">
	<TD>&nbsp;</TD>
    <TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 gram
      per metric tonne = 0.03215 troy ounces per metric tonne</font></TD>
</TR>
<TR valign="top">
	<TD>&nbsp; </TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1 kilometre
      = 0.6214 miles</FONT></TD>
</TR>
</TABLE>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">145</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div><page><a name="p146"></a><p><a href="#contents"><font size="2">Back to Contents</font></a></p>


<p><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXCHANGE RATES</FONT></B></P>
<p><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The following table shows, for the periods and dates indicated, certain information regarding the exchange rates for the pound sterling and the Australian dollar, based on the Noon
  Buying Rates for pounds sterling and Australian dollars expressed in US dollars per &#163;1 and per A&#36;1.00.</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
	<TD align=left><font face="TimesNewRomanPSMT,Times New Roman,Times,serif"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif"><b>Pounds
    sterling</b></font></font></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;	</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">	&nbsp;	</font></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD><b><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Australian
      dollars</font></b></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right><font size="2">&nbsp;</font> </TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;	</font></TD>
	<TD align=right><font size="2">&nbsp;</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp; &nbsp;	</font></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
    <TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Year
    ended 31 December</font></TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Period</font></TD>
	<TD align=center><font size="2">&nbsp;</font></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">High	</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Low</font></TD>
	<TD align="center"><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font>
	</TD>
	<TD><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Year
      ended 31 December</font> </TD>
	<TD align=center><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Period</font> </TD>
	<TD align=center><font size="2">&nbsp;</font></TD>
	<TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Average</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">High	</font></TD>
	<TD align="center"><font size="2">&nbsp;</font></TD>
	<TD align=right><font size="2" face="TimesNewRomanPSMT,Times New Roman,Times,serif">Low</font></TD>
    <TD align=right><font size="2">&nbsp;</font></TD>
</TR>
<TR valign="bottom">
  <TD align=left><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=right> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">end</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
  <TD align=right> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">rate</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
    <TD><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=right><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">end</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
  <TD align=right> <font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">rate</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD>
  <TD align=right><font size="2">&nbsp;</font></TD></TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
    <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD><hr size="1" noshade></TD>
  <TD align=right><hr size="1" noshade></TD>
  <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD></TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</FONT></TD>
	<TD width=1% align=right>&nbsp;</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.73</FONT></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.82</FONT></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.93</FONT></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.71</FONT></TD>
	<TD width=6%>&nbsp;
	</TD>
	<TD bgcolor="#eeeeee"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2005</FONT></TD>
	<TD width=1% align=right>&nbsp;</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.734</FONT></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.763</FONT></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.799</FONT></TD>
	<TD width=1%>&nbsp;
	</TD>
	<TD width=6% align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.727</FONT></TD>
    <TD width=2% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.93</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.83</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.95</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.76</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2004</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.783</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.737</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.798</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.686</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.78</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.63</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.79</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.55</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2003</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.749</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.648</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.752</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.562</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.61</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.50</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.61</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.41</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2002</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.563</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.544</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.575</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.506</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
	<TD align=left>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.45</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.44</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.50</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1.37</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2001</FONT></TD>
	<TD align=right>&nbsp;</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.512</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.517</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.571</FONT></TD>
	<TD>&nbsp;
	</TD>
	<TD align=right>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">0.483</FONT></TD>
    <TD align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=left><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
    <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD><hr size="1" noshade>
  </TD>
  <TD align=right><hr size="1" noshade>
  </TD>
  <TD align=right><font size="1" face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;</font></TD>
</TR>
</TABLE>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <TD>&nbsp;</td>
  </tr>
  <tr>
    <TD><b><font size=1 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Note</font></b></td>
  </tr>
  <tr>
    <TD><font size=1 face="TimesNewRomanPSMT,Times New Roman,Times,serif">The
        Noon Buying Rate on such dates differed slightly from the rates used
        in the preparation of
Rio Tinto&#146;s financial statements as of such date. No representation is made
that pound sterling and Australian dollar amounts have been, could have been
or could be converted into dollars at the Noon Buying Rate on such dates or at
any other dates.</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="right"><font size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Rio
        Tinto 2005 </font><i><font size=2 face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Form
    20-F</font></i></td>
    <td width="3%" align="right"><b><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New
Roman,Times,serif">146</FONT></b></td>
  </tr>
</table>
<hr noshade align="center" width="100%" size="2">
</body>

</html>
[{"type": "20-F", "sequence": "1", "filename": "b832238-20f.htm", "secsgml_size_bytes": 3258996}]
[{"company-data": {"conformed-name": "RIO TINTO PLC", "cik": "0000863064", "assigned-sic": "1000", "irs-number": "000000000", "state-of-incorporation": "X0", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "20-F", "act": "34", "file-number": "001-10533", "film-number": "06922056"}, "business-address": {"street1": "6 ST JAMES'S SQUARE", "city": "LONDON, SW1Y 4LD", "state": "X0", "phone": "44 20 7930 2399"}, "mail-address": {"street1": "RIO TINTO SERVICES INC.", "street2": "1343 SOUTH 1800 EAST", "city": "SALT LAKE CITY", "state": "UT", "zip": "84108"}, "former-company": {"former-conformed-name": "RTZ CORPORATION PLC", "date-changed": "19950522"}}, {"company-data": {"conformed-name": "RIO TINTO LTD", "cik": "0000887028", "assigned-sic": "1000", "irs-number": "000000000", "state-of-incorporation": "C3", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "20-F", "act": "34", "file-number": "000-20122", "film-number": "06922057"}, "business-address": {"street1": "LEVEL 33, 55 COLLINS STREET", "street2": "MELBOURNE", "city": "VICTORIA 3000", "state": "C3", "zip": "AUSTRALIA", "phone": "61 3 9283 3333"}, "mail-address": {"street1": "RIO TINTO SERVICES INC.", "street2": "1343 SOUTH 1800 EAST", "city": "SALT LAKE CITY", "state": "UT", "zip": "84108"}, "former-company": {"former-conformed-name": "CRA LTD", "date-changed": "19950725"}}]
Prepared and filed by St Ives Financial
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
  DC 20549
FORM
      20-F
(Mark
        One)
Registration
        statement pursuant to Section 12 (b) or 12(g) of the Securities Exchange
        Act of 1934
or
Annual
          report pursuant to Section 13 or 15(d) of the Securities Exchange Act
          of 1934
For
          the financial year ended: 31 December 2005
or
Transition
        report pursuant to Section 13 or 15(d) of the Securities Exchange Act
        of 1934
For
        the transition period from:
___________________
to
___________________
or
Shell
        company report pursuant to Section 13 or 15(d) of the Securities Exchange
        Act of 1934
Date
        of event requiring this shell company report
___________________
Commission
        file number: 1-10533
Commission
        file number: 0-20122
Rio
          Tinto plc
Rio
          Tinto Limited
ABN
          96 004 458 404
(Exact
        name of Registrant as specified in its charter)
(Exact
        name of Registrant as specified in its charter)
England
          and Wales
Victoria,
          Australia
(Jurisdiction
        of incorporation or organisation)
(Jurisdiction
        of incorporation or organisation)
6
          St James's Square
Level
          33, 55 Collins Street
London,
          SW1Y 4LD, England
Melbourne,
          Victoria 3001, Australia
(Address
        of principal executive offices)
(Address
        of principal executive offices)
Securities
      registered or to be registered pursuant to Section 12(b) of the Act:
Title
          of each class
Name
          of each exchange
Name
          of each exchange
Title
          of each class
on
          which registered
on
          which registered
American
        Depositary
Shares*
New
        York
Stock
        Exchange
None
Ordinary
        Shares of 10p
each**
New
        York
Stock
        Exchange
*
Evidenced
          by American Depository Receipts. Each American Depository Share Represents
          four Rio Tinto plc Ordinary Shares of 10p
each.
**
Not
          for trading, but only in connection with the listing of American Depositary
          Shares, pursuant to the requirements of the Securities
and
          Exchange Commission
Securities
      registered or to be registered pursuant to Section 12(g) of the Act:
Title
          of each class
Title
          of each class
None
American
        Depositary Shares***
Ordinary
        Shares
***
Evidenced
        by American Depository Receipts. Each American Depository Share represents
        four Rio Tinto Limited Ordinary Shares.
Securities
      for which there is a reporting obligation pursuant to Section 15(d) of
      the Act:
None
None
Indicate
      the number of outstanding shares of each of the Issuer's classes of
      capital or common stock as of the close of the period covered by the annual
      report:
Title
          of each class
Number
Number
Title
          of each class
Ordinary
        Shares of 10p each
1,068,422,633
456,815,943
Shares
DLC
        Dividend Share of 10p
1
1
DLC
        Dividend Share
Special
        Voting Share of 10p
1
1
Special
        Voting Share
Indicate
      by check mark if the registrants are well-seasoned issuers, as defined
      in rule 405 of the Securities Act.
Yes
No
If
      this report is an annual or transition report, indicate by check mark if
      the registrants are not required to file reports pursuant to Section 13
      or 15(d) of the Securities Exchange Act of 1934 from their obligations
      under those Sections.
Yes
No
Note – Checking
      the box above will not relieve any registrant required to file reports
      pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
      from their obligations under those Sections.
Indicate
      by check mark whether the registrants (1) have filed all reports required
      to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
      during the preceding 12 months (or for such shorter period that the registrants
      were required to file such reports), and (2) have been subject to such
      filing requirements for the past 90 days:
Yes
No
Indicate
      by check mark whether the registrants are large accelerated filers, accelerated
      filers, or non-accelerated filers. See definition of "accelerated
      filer and large accelerated filer" in Rule 12b-2 of the Exchange Act.
      (Check one):
Large
        accelerated filer
Accelerated
          filer
Non-accelerated
          filer
Indicate
      by check mark which financial statement item the registrants have elected
      to follow:
Item
          17
Item
          18
EXPLANATORY NOTE
The Rio Tinto Group is a leading international mining group, combining Rio Tinto plc and Rio Tinto Limited in a dual listed companies ('DLC') merger.
The DLC merger has the effect that shareholders can be regarded as having interests in a single economic enterprise that is under common control and
management. Accordingly this annual report on Form 20-F has been presented on a Group basis with certain exceptions such as the separate discussion and analyses that relate to the Rio Tinto plc and Rio Tinto Limited parts of the Group that have been
provided as a supplement to the discussion of the Rio Tinto Group. Shares in Rio Tinto plc and Rio Tinto Limited both provide shareholders with an interest in the earnings and net assets of the total Group, as if they together were a single economic
entity. In other words, a share in Rio Tinto plc provides an economic interest in the same fraction of the combined earnings and net assets of the Group as a share in Rio Tinto Limited.
The 2005 Financial statements including reconciliation to US accounting principles of the Rio Tinto Group ("the Group") and of the Rio Tinto
plc and Rio Tinto Limited parts of the Group ("the 2005 Financial statements") provide analysis of the total Group according to its legal structure, but these separate figures are not indicative of the economic interest of shareholders in
either of the Listed Companies.
Rio Tinto plc and Rio Tinto Limited also present their annual reports and financial statements to their shareholders, in accordance with both United
Kingdom and Australian legislation and regulations, on a Group basis. The current such document is the 2005 Annual report and financial statements.
The 2005 Financial statements and the 2005 Annual report and financial statements were both furnished with the Securities and Exchange Commission on Form
6-K for the month of March 2006 which was furnished on 6 April 2006. The 2005 Financial statements have been incorporated by reference under Item 18 herein.
Rio Tinto plc and Rio Tinto Limited established separate ADR programmes prior to their merger and have maintained both but following a recent review it
was concluded that the Rio Tinto Limited ADR programme should be terminated with effect from 10 April 2006 and a notice of termination was mailed to ADR holders. The Rio Tinto plc ADR programme will not be affected by this termination.
Rio
        Tinto 2005
Form
        20-F
1
TABLE OF CONTENTS
Page
PART I
Item
1.
Identity of Directors, Senior Management and Advisers
3
Item
2.
Offer Statistics and Expected Timetable
3
Item
3.
Key Information
3
Item
4.
Information on the Company
8
Item
4
A.
Unresolved Staff Comments
36
Item
5.
Operating and Financial Review and Prospects
36
Item
6.
Directors, Senior Management and Employees
81
Item
7.
Major Shareholders and Related Party Transactions
121
Item
8.
Financial Information
123
Item
9.
The Offer and Listing
125
Item
10.
Additional Information
128
Item
11.
Quantitative and Qualitative Disclosures about Market Risk
137
Item
12.
Description of Securities other than Equity Securities
137
PART II
Item
13.
Defaults, Dividend Arrearages and Delinquencies
137
Item
14.
Material Modifications to the Rights of Security Holders and Use of Proceeds
137
Item
15.
Controls and Procedures
137
Item
16
A.
Audit Committee Financial Expert
137
Item
16
B.
Code of Ethics
137
Item
16
C.
Principal Accountant Fees and Services
138
Item
16
D.
Exemptions from the Listing Standards for Audit Committees
138
Item
16
E.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
138
PART III
Item
17.
Financial Statements
139
Item
18.
Financial Statements
139
Item
19.
Exhibits
140
Rio
        Tinto 2005
Form
        20-F
2
Back to Contents
RIO TINTO
PART I
Item
      1.
Identity
    of Directors, Senior Management and Advisers
Not
    applicable.
Item
      2.
Offer
          Statistics
and Expected Timetable
Not
    applicable.
Item
      3.
Key
    Information
SELECTED FINANCIAL DATA FOR THE RIO TINTO GROUP
for the period 2001 to 2005
Dividends
declared
in respect of each
year per share
US cents
UK pence
Australian cents
The special
dividend of 110 US cents per share (61.89 pence or 145.42 Australian cents per
share), declared
payable at the same time as the 2005 final dividend, has not
been included
above.
The selected consolidated financial data on pages 4 to 6 has been derived from the 2005 Financial statements of the Rio Tinto Group and of the Rio Tinto plc and Rio Tinto Limited
parts of the Group incorporated by reference under Item 18. Financial statements, herein, restated where appropriate to accord with the current accounting policies and presentations. The selected consolidated financial data should be read in
conjunction with, and qualified in their entirety by reference to, the 2005 Financial statements and notes thereto.
The 2005 Financial statements were prepared in accordance with IFRS as adopted by the European Union, which differs in certain respects from US GAAP.
Details of the principal differences between EU IFRS and US GAAP are set out in note 52 on pages A-92 to A-107 of the 2005 Financial statements.
Rio
        Tinto 2005
Form
        20-F
3
Back to Contents
RIO TINTO GROUP
Income
      Statement Data
For
      the years ending 31 December
Amounts
      in accordance with EU IFRS
(a)
(US$ millions)
2004
2005
Consolidated
      turnover
12,954
19,033
Group
      operating profit (b)
3,327
6,922
Profit
      for the year
3,244
5,498
Group
      operating profit per share (US cents)
241.3
507.5
Earnings
      per share (US cents)
239.1
382.3
Diluted
      earnings per share (US cents)
238.7
381.1
Dividends
      per share (US cents) (c)
66.0
83.5
Dividends
      per share (pence) (c)
36.2
45.7
Dividends
      per share (Australian cents) (c)
90.2
108.9
Weighted
      average number of shares (millions)
1,379
1,364
Amounts
      in accordance with US GAAP
(US$ millions)
2001
2002
2003
2004
2005
Consolidated
      turnover (g)
8,348
8,719
9,545
11,814
19,033
Group
      operating profit (g)
1,821
746
1,041
1,442
6,196
Net
      earnings (d)
1,038
581
1,977
2,823
4,969
Earnings
      per share (US cents)
75.5
42.2
143.5
204.7
364.3
Diluted
      earnings per share (US cents)
75.4
42.1
143.3
204.4
363.1
Balance
      Sheet Data
at
      31 December
Amounts
      in accordance with EU IFRS
(a)
(US$ millions)
2004
2005
Total
      assets
26,308
29,803
Share
      capital / premium
3,127
3,079
Total
      equity / Net assets
12,591
15,739
Amounts
      in accordance with US GAAP
(US$ millions)
2001
2002
2003
2004
2005
Total
      assets
22,102
22,600
26,959
28,938
31,899
Share
      capital / premium
2,486
2,580
2,869
2,938
3,079
Rio
      Tinto shareholders' funds (d)
9,571
9,517
12,044
14,462
17,214
Rio
        Tinto 2005
Form
        20-F
4
Back to Contents
RIO TINTO PLC - PART OF RIO TINTO GROUP
Income
      Statement Data
for
      the years ending 31 December
Amounts
      in accordance with EU IFRS
(a)
(US$
      millions)
2004
2005
Consolidated
      turnover
5,506
7,566
Group
      operating profit (b)
1,422
2,596
Profit
      for the year
2,336
3,651
Group
      operating profit per share (US cents)
133.3
242.8
Earnings
      per share (US cents)
229.1
337.1
Diluted
      earnings per share (US cents)
228.6
336.1
Dividends
      per share (US cents) (c)
66.0
83.5
Dividends
      per share (pence) (c)
36.2
45.7
Weighted
      average number of shares (millions)
1,067
1,069
Amounts
      in accordance with US GAAP
(US$ millions)
2001
2002
2003
2004
2005
Consolidated
      turnover (g)
3,783
3,993
4,072
5,298
7,566
Group
      operating profit (g)
548
(481
)
(7
)
162
2,176
Net
      earnings (d)
618
(206
)
949
2,010
3,448
Earnings
      per share (US cents)
58.1
(19.3
)
89.0
188.3
322.5
Diluted
      earnings per share (US cents)
58.0
(19.3
)
88.9
188.0
321.6
Balance
      sheet data
at
      31 December
Amounts
      in accordance with EU IFRS
(a)
(US$ millions)
2004
2005
Total
      assets
15,364
18,389
Share
      capital / premium
1,994
2,060
Total
      equity / Net assets
8,830
11,445
Amounts
      in accordance with US GAAP
(US$ millions)
2001
2002
2003
2004
2005
Total
      assets
13,735
13,941
15,180
17,375
19,791
Share
      capital / premium
1,754
1,764
1,784
1,805
2,060
Rio
      Tinto shareholders' funds (d)
8,371
7,697
8,931
10,560
12,984
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RIO TINTO LIMITED - PART OF RIO TINTO GROUP
Income
      Statement Data
for
      the years ending 31 December
Amounts
      in accordance with EU IFRS
(a)
(US$
      millions)
2004
2005
Consolidated
      turnover
7,448
11,467
Group
      operating profit (b)
1,905
4,326
Profit
      for the year
1,446
2,812
Group
      operating profit per share (US cents)
381.8
916.5
Earnings
      per share (US cents)
273.4
546.0
Diluted
      earnings per share (US cents)
272.9
543.5
Dividends
      per share (US cents) (c)
66.0
83.5
Dividends
      per share (Australian cents) (c)
90.2
108.9
Weighted
      average number of shares (millions)
499
472
Amounts
      in accordance with US GAAP
(US$
      millions)
2001
2002
2003
2004
2005
Consolidated
      turnover (g)
4,575
4,726
5,473
6,516
11,467
Group
      operating profit (g)
1,273
1,231
1,048
1,280
4,020
Net
      earnings (d)
671
1,267
1,647
1,301
2,432
Earnings
      per share (US cents)
134.6
254.0
330.1
260.6
515.4
Diluted
      earnings per share (US cents)
134.5
253.7
330.0
260.1
513.1
Balance
      sheet data
at
      31 December
Amounts
      in accordance with EU IFRS
(a)
(US$ millions)
2004
2005
Total
      assets
15,636
17,309
Share
      capital / premium
1,336
1,162
Total
      equity / Net assets
6,153
6,442
Amounts
      in accordance with US GAAP
(US$
      millions)
2001
2002
2003
2004
2005
Total
      assets
10,770
11,609
15,234
16,964
18,417
Share
      capital / premium
865
964
1,280
1,336
1,162
Rio
      Tinto shareholders' funds (d)
1,920
2,922
4,996
6,247
6,762
Notes
(a)
In
      accordance with the General Instructions for Form 20-F, Section G, audited
      information under EU IFRS is presented for 2004 and 2005
only on the occasion of first time application of International Financial
      Reporting Standards.
(b)
Operating
      profit under EU IFRS includes the effects of charges and reversals resulting
      from impairments and profit and loss on disposals of
interests
      in businesses, including investments. Operating profit under US GAAP also
      includes the effects of charges but not reversals
resulting
      from impairments but excludes profit and loss on disposals of interests
      in businesses, including investments. Both the EU IFRS and
US
      GAAP operating profit amounts shown above exclude equity accounted operations.
(c)
Dividends
      presented above are those paid in the year in accordance with EU IFRS.
(d)
Amounts
      shown are attributable to equity shareholders of Rio Tinto.
(e)
The
      results for all years relate wholly to continuing operations.
(f)
There
      are no differences between International Financial Reporting Standards (IFRS)
      and IFRS adopted by the European Union (EU IFRS)
that
      would impact the financial statements of the Rio Tinto Group for the years
      ended 31 December 2004 and 2005.
(g)
Certain
      jointly controlled assets, which previously were equity accounted under
      UK and US GAAP, are proportionally consolidated
under
      EU IFRS. The above US GAAP data for 2005 also include these units on the
      basis of proportional consolidation. Amounts presented
for
      consolidated turnover and operating profit in the years 2001 through 2004
      have not been restated and continue to incorporate these
units
      on the equity accounting basis. If these units had been subject to equity
      accounting in 2005, Group consolidated turnover and operating
profit,
      respectively, would have been $2.2 billion and $1.1 billion lower;
      Rio Tinto plc consolidated turnover and operating profit would have
been
      $746 million and $425 million lower; and Rio Tinto Limited consolidated
      turnover and operating profit would have been $1.4 billion
and
      $712 million lower. However, net earnings would have been unchanged.
(h)
As
      a result of adopting IAS 32, IAS 39 and IFRS 5 on 1 January 2005, the Group
      changed its method of accounting for financial instruments
and
      non-current assets held for sale. In line with the relevant transitional
      provisions, the prior period comparatives have not been re-stated.
See
      Note 1 to the 2005 Financial statements for further discussion.
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RISK FACTORS
The
    following describes some of the risks that could affect Rio Tinto. There may
    be additional risks unknown to Rio Tinto and other risks, currently believed
    to be immaterial, could turn out to be material. These risks, whether they
      materialise individually or simultaneously, could significantly affect the
      Group's business
    and financial results. They should also be considered in connection with any
    forward looking statements in this document and the cautionary statement on
the following page.
Economic conditions
Commodity
    prices, and demand for the Group's products, are influenced strongly by world economic growth, particularly that in the US and Asia. The Group's normal policy is
    to sell its products at prevailing market prices. Commodity prices can fluctuate widely and could have a material and adverse impact on the Group's
    asset values, revenues, earnings and cash flows. Further discussion can be
    found under Business environment and markets on page 13, and under Commodity
    prices
    on pages 49 to 51.
Exchange rates
The
  Group's asset values, earnings and cash flows are influenced by a wide variety of currencies due to the geographic diversity of the Group's customers and areas of
  operation. The majority of the Group's sales are denominated in US dollars. The Australian and US dollars are the most important currencies influencing costs. The relative value of currencies can fluctuate widely and could have a material and
  adverse impact on the Group's asset values, costs, earnings and cash flows.
  Further discussion can be found under Exchange rates, reporting currencies and
  currency exposure on pages 47 to 49.
Acquisitions
The
Group has grown partly through the acquisition of other businesses. Business
combinations commonly entail a number of risks and Rio Tinto cannot be sure that
management will be able effectively to integrate businesses acquired or generate
the cost savings and synergies anticipated. Failure to do so could have a material
and adverse impact on the Group's costs, earnings and cash flows. Furthermore,
the Group could find itself liable for undisclosed past acts or omissions of
the acquired businesses without any adequate right of redress.
Exploration and new projects
The
  Group seeks to identify new mining properties through an active exploration programme.
  There is no guarantee, however, that such expenditure will be recouped or that
  existing mineral reserves will be replaced. Failure to do so could have a material
  and adverse impact on the Group's financial results and prospects.
The Group develops new mining properties and expands its existing operations as a means of generating shareholder value. Increasing regulatory,
environmental and social approvals are, however, required which can result in significant increases in construction costs and/or significant delays in construction. These increases could materially and adversely affect a project's economics,
the Group's asset values, costs, earnings and cash flows.
Ore reserve estimates
There are
    numerous uncertainties inherent in estimating ore reserves and assumptions
 that are valid at the time of estimation may change significantly when new
    information becomes available.
Changes
    in the forecast prices of commodities, exchange rates, production costs or
    recovery rates may change the economic status of reserves and may, ultimately,
    result in the reserves being restated. Such changes in reserves could impact
    on depreciation and amortisation rates, asset carrying values, deferred stripping
    calculations and provisions for close down, restoration and environmental
    clean up costs. Further discussion can be found under Ore reserve estimates
    on page 52.
Political and community
The Group has operations in jurisdictions having varying degrees of political instability. Political instability can result in civil unrest, expropriation, nationalisation,
  renegotiation or nullification of existing agreements, mining leases and permits, changes in laws, taxation policies or currency restrictions. Any of these can have a material adverse effect on the profitability or, in extreme cases, the viability
  of an operation.
Some of the Group's current and potential operations are located in or near communities that may now, or in the future, regard such an operation as
having a detrimental effect on their economic and social circumstances. Should this occur, it might have a material adverse impact on the profitability or, in extreme cases, the viability of an operation. In addition, such an event may adversely
affect the Group's ability to enter into new operations in the country.
Technology
The Group has invested in and implemented information system and operational initiatives. Several technical aspects of these initiatives are still unproven and the eventual
  operational outcome or viability cannot be assessed with certainty. Accordingly, the costs and benefits from these initiatives and the consequent effects on the Group's future earnings and financial results may vary widely from present
  expectations.
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Land and resource tenure
The Group operates in several countries where title to land and rights in respect of land and resources (including indigenous title) may be unclear and may lead to disputes over
  resource development. Such disputes could disrupt relevant mining projects and/or impede the Group's ability to develop new mining properties.
Health, safety and environment
Rio Tinto operates in an industry that is subject to numerous health, safety and environmental laws and regulations as well as community expectations. Evolving regulatory standards
  and expectations can result in increased litigation and/or increased costs all of which can have a material and adverse effect on earnings and cash flows.
Mining operations
Mining operations are vulnerable to a number of circumstances beyond the Group's control, including natural disasters, unexpected geological variations and industrial actions.
  These can affect costs at particular mines for varying periods. Mining, smelting and refining processes also rely on key inputs, for example fuel and electricity. Appropriate insurance can provide protection from some, but not all, of the costs that
  may arise from unforeseen events. Disruption to the supply of key inputs, or changes in their pricing, may have a material and adverse impact on the Group's asset values, costs, earnings and cash flows.
Rehabilitation
Costs associated with rehabilitating land disturbed during the mining process and addressing environmental, health and community issues are estimated and provided for based on the
  most current information available. Estimates may, however, be insufficient and/or further issues may be identified. Any underestimated or unidentified rehabilitation costs will reduce earnings and could materially and adversely affect the
  Group's asset values, earnings and cash flows.
Non managed operations
Rio Tinto cannot guarantee that management of mining and processing assets not subject to its management control will comply with the Group's standards and objectives, nor that
  effective policies, procedures and controls will be maintained over those assets. Improper management or ineffective policies, procedures or controls could materially affect the value of those assets.
CAUTIONARY STATEMENT ABOUT FORWARD LOOKING STATEMENTS
This
  document contains certain forward looking statements with respect to the financial
  condition, results of operations and business of the Rio Tinto Group. The words "intend", "aim", "project", "anticipate", "estimate", "plan", "believes", "expects", "may", "should", "will",
  or similar expressions, commonly identify such forward looking statements. Examples
  of forward looking statements in this annual report on Form 20-F include those
  regarding estimated reserves, anticipated production or construction commencement
  dates, costs, outputs, demand, growth opportunities and productive lives of assets
  or similar factors. Forward looking statements involve known and unknown risks,
  uncertainties, assumptions and other factors set forth in this document that
  are beyond the Group's control. For example, future reserves will be based
  in part on long term price assumptions that may vary significantly from current
  levels. These may materially affect the timing and feasibility of particular
  developments. Other factors include the ability to produce and transport products
  profitably, demand for our products, the effect of foreign currency exchange
  rates on market prices and operating costs, and activities by governmental authorities,
  such as changes in taxation or regulation, and political uncertainty.
In light of these risks, uncertainties and assumptions, actual results could be materially different from any future results expressed or implied by
  these forward looking statements which speak only as at the date of this report. Except as required by applicable regulations or by law, the Group does not undertake any obligation to publicly update or revise any forward looking statements, whether
  as a result of new information or future events. The Group cannot guarantee that its forward looking statements will not differ materially from actual results.
Item
      4.
Information
    on the Company
INTRODUCTION
Rio
    Tinto Limited and Rio Tinto plc operate as one business organisation, referred
    to in this report as Rio Tinto, the Rio Tinto Group or, more simply, the
    Group. These collective expressions are used for convenience only since both
    Companies, and the individual companies in which they directly or indirectly
    own investments, are separate and distinct legal entities.
"Limited", "plc", "Pty", "Inc", "Limitada", or "SA" have generally been omitted from Group
company names, except to distinguish between Rio Tinto plc and Rio Tinto Limited.
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Financial
       data in United States dollars (US$) is derived from, and should be
       read  in conjunction with, the 2005 Financial statements which are in
       US$. In
    general, financial data in pounds sterling (£) and Australian dollars
     (A$) have been translated from the consolidated financial statements,
      and have been provided solely for convenience; exceptions arise where data,

    such as directors' remuneration, can be extracted directly from source
     records.
Rio Tinto
    Group turnover, profit before tax and net earnings and operating assets for
    2004 and 2005 attributable to the product groups and geographical areas are
    shown in notes 32 and 33 to the 2005 Financial statements on pages A-52 to
    A-55. In the Operational review, operating assets and turnover for 2004 and
    2005 are consistent with the financial information by business unit in note
    51 to the 2005 Financial statements on pages A-90 to A-91.
The tables on pages 15 to 29 show production for 2003, 2004 and 2005 and include estimates of proven and probable reserves. Words and phrases, often
technical, have been used which have particular meanings; definitions of these terms are on in the Glossary on pages 143 to 145. The weights and measures used are mainly metric units; conversions into other units are shown on page 145.
AN OVERVIEW OF RIO TINTO
Rio
      Tinto is a leading international mining group, combining Rio Tinto plc
      and Rio Tinto Limited in a dual listed companies (DLC) structure as a single
      economic entity. Nevertheless, both Companies remain legal entities with
      separate share listings and registers. Rio Tinto plc is incorporated in
      England and Wales and Rio Tinto Limited is incorporated in Australia.
Rio Tinto's international headquarters are in London whilst the Australian representative office in Melbourne provides support for the operations,
undertakes external and investor relations and fulfils statutory obligations. The registered office of Rio Tinto plc is at 6 St James's Square, London, SW1Y 4LD (telephone: +44 20 7930 2399) and the registered office of Rio Tinto Limited is at
Level 33, 55 Collins Street, Melbourne, Victoria 3000 (telephone: +61 3 9283 3333).
For purposes of service, Rio Tinto's agent in the US is Shannon Crompton, secretary of Rio Tinto's US holding companies, who may be contacted
at Rio Tinto Services Inc., 80 State Street, Albany, New York, 12207-2543. Investor relations in the US are provided by Makinson Cowell US Limited, One Penn Plaza, 250 W 34
th
St, Suite 1935, New York, NY 10119.
Objective, strategy and management structure
Rio Tinto's fundamental objective is to maximise the overall long term return to its shareholders by operating responsibly and sustainably in areas of proven expertise where the
  Group has competitive advantage. Its strategy is to maximise net present value by investing in large, long life, cost competitive mines. Investments are driven by the quality of opportunity, not choice of commodity.
Rio Tinto's mining interests are diverse both in geography and product. The Group consists of wholly and partly owned subsidiaries, jointly
controlled assets, jointly controlled entities and associated companies, the principal ones being listed in notes 38 to 41 of the 2005 Financial statements on pages A-68 to A-70.
Rio Tinto's management structure is designed to facilitate a clear focus on the Group's objective. The management structure, which is reflected
in this report, is based on principal product and global support groups:
•
Iron
      Ore
•
Energy
•
Industrial
      Minerals
•
Aluminium
•
Copper
•
Diamonds
•
Exploration,
      and
•
Technology.
The
      chief executive of each group reports to the chief executive of Rio Tinto.
Operational and Financial Review (OFR)
Rio Tinto provides a full description of its operational, financial and HSE performance under Item 5. on pages 36 to 80. This description broadly covers the requirements which would
  have arisen in the UK had the OFR been introduced as originally proposed.
2005 financial summary
On 31 December 2005, Rio Tinto plc had a market capitalisation of £28.4 billion (US$48.8 billion) and Rio Tinto Limited had a market capitalisation of A$19.7 billion
  (US$14.5 billion). The combined Group's market capitalisation in publicly held shares at the end of 2005 was US$63.3 billion.
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At 31 December 2005, Rio Tinto had total assets of US$29.8 billion: 49 per cent were located in Australia and New Zealand and 28 per cent in North
America. Gross turnover in 2005 was US$20.7 billion (or US$19.0 billion excluding Rio Tinto's share of jointly controlled entities and associates' turnover). In 2005, the profit for the year and net earnings attributable to Rio
Tinto shareholders were US$5,498 million and US$5,215 million, respectively.
History
The Rio Tinto Company was formed by investors in 1873 to mine ancient copper workings at Rio Tinto in southern Spain. The Consolidated Zinc Corporation was incorporated in 1905,
initially to treat zinc bearing mine waste at Broken Hill, New South Wales, Australia.
The RTZ Corporation (formerly The Rio Tinto-Zinc Corporation) was formed in 1962 by the merger of The Rio Tinto Company and The Consolidated Zinc
Corporation. CRA Limited (formerly Conzinc Riotinto of Australia Limited) was formed at the same time by a merger of the Australian interests of The Consolidated Zinc Corporation and The Rio Tinto Company. Between 1962 and 1995, RTZ and CRA
discovered important mineral deposits, developed major mining projects and also grew through acquisition.
RTZ and CRA were unified in December 1995 through a DLC structure. Directed by a common board of directors, this is designed to place the shareholders of
both Companies in substantially the same position as if they held shares in a single enterprise owning all of the assets of both Companies.
In June 1997, The RTZ Corporation became Rio Tinto plc and CRA Limited became Rio Tinto Limited, together known as the Rio Tinto Group. Since the 1995
merger, the Group has continued to invest in developments and acquisitions in keeping with its strategy.
RECENT DEVELOPMENTS
Share buy backs and issues 2005
On 3 February
  2005 the Group announced, subject to market conditions, an intention to return
  up to US$1,500 million of capital to shareholders during the course of
  2005 and 2006, and that this would include an off-market buy back of Rio Tinto
  Limited shares through a tender process.
On
9 May 2005, Rio Tinto Limited bought back 27,294,139 shares, representing 8.7
per cent of its publicly held issued share capital, under an off-market tender
and 16,367,000 shares held indirectly by Rio Tinto plc. All of these shares were
purchased at a price of A$36.70 (US$28.36) per share, representing a
14 per cent discount to the relevant market price, and were cancelled.
During
the year Rio Tinto plc bought back 2,600,000 ordinary shares, representing less
than one per cent of its issued share capital, on the open market for an aggregate
consideration of US$103.2 million, to be held as treasury shares.
Also
during the year Rio Tinto plc issued 3,000,155 ordinary shares and Rio Tinto
Limited issued 1,130,211 shares in connection with Rio Tinto's
share plans.
On
2 February 2006, the Group announced an intention to return up to US$4,000 million of capital to shareholders, of which US$1,500 million would
be paid out as a special dividend and, subject to market conditions, the remaining US$2,500 million would be applied to buy backs of either Rio Tinto Limited or Rio Tinto plc shares. This would replace the US$528
million remainder of the
initiative announced on 3 February 2005.
Between
1 January 2006 and 31 May 2006, Rio Tinto plc issued a further 2,102,943 ordinary
shares in connection with employee share plans and bought back a further 16,375,000
shares to be held as treasury shares for an aggregate consideration of US$832.6
million. Of the shares issued 872,833 shares were issued from treasury. Rio Tinto
Limited purchased and issued 1,258,673 shares in connection with employee share
plans. As at 31 May 2006 there remained options outstanding over 6,736,565 Rio
Tinto plc ordinary shares and over 5,414,193 Rio Tinto Limited shares.
Share buybacks and issues 2003-2004
In the years
2003 and 2004, neither Rio Tinto plc nor Rio Tinto Limited purchased any shares
in either Company.
In 2003,
    Rio Tinto plc issued 1,193,000 ordinary shares and granted options over 2.7
    million ordinary shares, and Rio Tinto Limited issued
  240,000 shares and granted options over 1.6 million shares, in connection with
employee share plans.
In 2004, Rio Tinto plc issued 1,347,000 ordinary shares and granted options over 1.5 million ordinary shares, and Rio Tinto Limited issued 280,000 shares
and granted options over 1.3 million shares, in connection with employee share plans.
Operations acquired and divested 2005
In March 2005, Rio
Tinto's wholly owned subsidiary QIT-Fer et Titane Inc sold its entire holding in the Labrador Iron Ore Royalty Income Fund (LIORIF) to RBC Capital Markets for
net cash proceeds of US$130 million. LIORIF has an equity interest of 15.1 per cent in, and receives royalties from, Iron Ore Company of Canada (IOC), a subsidiary of Rio Tinto. The transaction had no effect on Rio Tinto's
59 per cent
direct interest in IOC.
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Rio Tinto reached agreement with Hancock Prospecting Pty Ltd to purchase a 50 per cent interest in the Hope Downs iron ore assets in Western
Australia.
Rio Tinto reached agreement with Lihir Gold to relinquish its management agreement with Lihir, effective from October and subsequently sold its 14.5 per
cent interest in November for US$295 million.
Operations acquired and divested 2003-2004
The sale of Rio Tinto's 25 per cent interest in Minera Alumbrera Limited in Argentina, acquired as part of North Limited, together with its wholly owned Peak gold mine in New
South Wales, Australia, was completed in March 2003. The cash consideration was US$210 million.
The Framework Agreement signed with the Government of Indonesia in 2002 for divestment of 51 per cent of Kaltim Prima Coal (KPC) to Indonesian interests
lapsed in 2003 when no assignment of KPC's offer was made or accepted within the required timeframe. On 21 July 2003 Rio Tinto and BP announced that they had agreed to sell their interests in KPC for a cash price of US$500 million,
including assumed debt, to PT Bumi Resources, a public company listed on the Jakarta and Surabaya Stock Exchanges. The sale was completed on 10 October 2003 and each company received 50 per cent of the net proceeds.
In January 2004, Rio Tinto completed the sale of its 100 per cent interest in the nickel mining company Mineração Serra da Fortaleza Ltda
to Votorantim Metais, a Brazilian controlled mining company. Including an adjustment for future nickel prices, the total cash consideration was approximately US$80 million.
A 20 per cent interest in the Sepon project in Laos, comprising a gold operation and the Khanong copper project, was sold to Oxiana Limited for a cash
consideration of US$85 million.
In March 2004, Rio Tinto completed the sale of its shareholding in Freeport-McMoRan Copper & Gold Inc (FCX). Rio Tinto received net proceeds of
US$882 million for its 23,931,100 FCX shares. Rio Tinto retains its 40 per cent joint venture interest in reserves discovered after 1994 at the Grasberg mine, which is managed by FCX. The sale of FCX shares does not affect the terms of the joint
venture nor the management of the Grasberg mine.
In June 2004, Rio Tinto completed the sale of its 100 per cent interest in Zinkgruvan Mining AB to South Atlantic Ventures. Zinkgruvan was acquired in
2000 as part of North Ltd.
Rio Tinto and Empresa de Desenvolvimento Mineiro completed the sale of their interests in the Neves Corvo copper mine in Portugal to EuroZinc for a cash
consideration and a participation in the average copper price in excess of certain thresholds. Rio Tinto's share of the consideration for its 49 per cent share of the mine was US$70 million. The remaining price participation rights relating
to copper production from Neves Corvo, which was sold in the first half of 2004, were themselves sold for US$22 million.
In 2004, the directors of Rio Tinto Zimbabwe (RioZim) agreed to a restructuring of Rio Tinto's 56 per cent shareholding in RioZim. The Murowa
diamond project in Zimbabwe had been a 50:50 joint venture between Rio Tinto and RioZim. As a result of the restructuring, Rio Tinto owns a direct 78 per cent interest in Murowa and RioZim became an independent Zimbabwean controlled, listed company
owning the remaining 22 per cent of Murowa. Rio Tinto ceased to be an ordinary shareholder in RioZim but retains a reduced cash participation in RioZim's assets other than the Murowa diamond project for a period of ten years. The transaction
had no material effect on Rio Tinto.
The sale to Nippon Steel of an eight per cent interest in the Hail Creek Joint Venture, and the increase in the combined share of the original
participants, Marubeni Coal and Sumisho Coal Development, by two per cent was completed in the fourth quarter of 2004. Rio Tinto will receive about US$150 million for the sale of these assets including the sale of a 47 per cent interest in the
Beasley River iron ore deposits to its joint venture partners in Robe River, which includes Nippon Steel. The Hail Creek component of the sale is complete and arrangements for the Beasley River component are progressing.
In December 2004, Rio Tinto Energy America (formerly Kennecott Energy) successfully bid for an additional 177 million tonnes of in-situ coal reserves at
West Antelope at a cost of US$146 million. The sale of the Group's 51 per cent interest in Rio Paracatu Mineração, the owner of the Morro do Ouro mine in Brazil, was completed on
31
December
2004 for US$250 million, subject to an adjustment for working capital.
Development projects 2005
Rio Tinto invested US$2.5 billion in the growth of the business in 2005.
At the Diavik diamond mine in Canada construction began in 2005 of a second dike at a cost of US$190 million to enable mining of a third orebody.
Also approved was an optimisation study costing US$75 million including construction of an exploration decline to investigate underground mining.
A project to enlarge the Bingham Canyon open pit at Kennecott Utah Copper in the US was approved in February 2005. The East 1 pushback is expected to
extend the life of the open pit to 2017. Capital expenditure on the project is budgeted to be US$100 million for mine facilities, a concentrator upgrade and mobile equipment, and US$70 million after 2008 for the relocation of the in pit
crusher and dewatering facilities.
First hot metal was produced in the second quarter of 2005 from the expanded US$200 million HIsmelt® plant at Kwinana in Western Australia.
Construction began in January 2003 and cold commissioning commenced in late 2004. The full production rate of 800,000 tonnes per year is expected to be reached over three years.
In April, Rio Tinto committed US$290 million to further expand existing Hamersley Iron mines in Western Australia. Expansion of the Mount Tom Price
and Marandoo mines and the construction of new mine capacity at Nammuldi, which is adjacent to the existing Brockman operation, is expected to commence progressive commissioning
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from early
  2006. These projects will add 15 million tonnes per annum to Hamersley Iron's
  mine capacity for at least three years.
In the first half expansion was completed of the upgraded slag (UGS) plant at QIT-Fer et Titane in Canada to 325,000 tonnes per year from 250,000 tonnes.
The project was completed on time and within budget. Further expansion to 375,000 tonnes is scheduled for completion in the second half of 2006.
Approval
was given in August for construction of a US$775 million titanium dioxide project comprising a US$585 million mineral sands operation
and port in Madagascar and a US$190 million upgrade of Rio Tinto's ilmenite smelting facilities in Canada. First production from the Madagascar operation in the Fort Dauphin region is expected in late 2008 and the initial capacity will be
750,000 tonnes per year of ilmenite. The ilmenite will be smelted at Rio Tinto's
facilities at Sorel in Quebec. This will require an upgrade of storage and handling
facilities as well as their associated ancillary services at the Sorel
site.
In
October, Rio Tinto announced it will spend US$1.35 billion on further expansion of wholly owned Hamersley Iron's
Yandicoogina mine and
Dampier port in Western Australia.
Expansion
of the Yandicoogina mine will increase its annual capacity from 36 million tonnes
to 52 million tonnes at an estimated cost of US$530
million. The most recent expansion, from 24 to 36 million tonnes a year, was completed in August 2005. US$690
million will be invested in further expanding port facilities at Dampier, which
will increase its annual shipping capacity from 116 million tonnes to 140 million
tonnes. The most recent port expansion, to 116 million tonnes, was completed
in 2005.
In
September, Rio Tinto approved its US$182 million share of the development
costs of the Cortez Hills gold project in Nevada, which is 40 per cent owned
by Rio Tinto and 60 per cent by Placer Dome.
Comalco
committed US$60 million to the addition of a new ship loader at the Weipa
bauxite mine in Australia to ensure reliability of bauxite supply to customers.
The new loader is expected to be commissioned by late 2006.
The
Argyle diamond mine block caving project was approved in late 2005 at a cost
of US$910 million, and Rössing Uranium's open pit is to be
enlarged with the addition of mining equipment for a total incremental and sustaining capital cost of US$112
million.
Further detail on these investments and projects is provided under Item 5. on pages 36 to 80.
Development projects have been funded using internally
generated funds and proceeds of asset disposals.
Development projects 2003-2004
Construction of the Diavik diamond mine in the Northwest Territories of Canada was completed in January 2003 three months early and within budget. Initial production commenced from
the contact zone above the orebody with the main orebody accessed during the second half of 2003.
Development
of the Escondida Norte satellite deposit at the 30 per cent owned Escondida copper
mine in Chile was started in June 2003 to provide mill
feed to keep Escondida's capacity above 1.2 million tonnes of copper per year to the end of 2008. First production occurred in 2005. Commissioning of the new US$1,045
million, 110,000 tonnes of ore per day Laguna Seca concentrator was completed
in the second quarter of 2003.
In
2003, Rio Tinto Coal Australia completed development of the US$255 million
Hail Creek coking coal project in Queensland, Australia with an initial capacity
of 5.5 million tonnes annually.
In
December 2003, Hamersley Iron announced the US$920 million expansion of its
port and mine capacity, with further expenditure on the rail network and power
infrastructure being evaluated.
The
partners in the Robe River Joint Venture approved US$214 million (Rio Tinto share US$113 million) to dual track a significant part of the
Hamersley Iron rail line due for completion in 2006. Hamersley Iron committed a further US$46
million to upgrade power infrastructure in the Pilbara. The port and mine expansions
were completed by the end of 2005.
In
January 2004, Rio Tinto approved the expansion of QIT-Fer et Titane Inc's upgraded slag (UGS) plant in Quebec, Canada. Total investment was
US$76 million and capacity was increased from 250,000 tonnes per year to
325,000 tonnes per year.
The
owners of the Escondida copper mine in Chile approved expenditure of US$870 million (Rio Tinto share US$270
million) on a sulphide leach project to produce 180,000 tonnes (Rio Tinto share
54,000 tonnes) of copper cathode per annum for more than 25 years starting in
the second half of 2006.
Construction
of the US$100 million second block cave at the underground Northparkes copper
and gold mine in New South Wales, Australia was completed and production commenced
in 2004.
Development of the 54 per cent owned Eastern Range iron ore mine in Australia with a capacity of ten million tonnes per year was completed in 2004, with
first shipments dispatched in the first half of the year.
Expansion
of the Weipa bauxite mine in Queensland, Australia, was completed, which will
result in an increase in production capacity to 16.5 million tonnes per annum
in coming years. This supports the requirements of the new Comalco Alumina Refinery.
A key component of the US$150 million expenditure is a 9.5 million tonne beneficiation plant for ore from the Andoom deposit. In 2005, a new
US$40 million power station was constructed and will be commissioned in 2006.
The station will service the Weipa mining operations and surrounding communities.
Construction
of the first stage of Comalco's new alumina refinery at Gladstone, Queensland commenced in January 2002 and was completed in late 2004,
three months early and in line with its budget of US$750 million. Initial
shipments from the 1.4 million tonnes per year plant started in early 2005.
Approval
was given in 2004 for expansion of the Hail Creek coal mine in Australia to eight
million tonnes per year at a cost of US$157
million.
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Kennecott Land's Project Daybreak in Utah, US, a mixed use land development on a 1,800 hectare site, started in 2003, with the first land sales in
2004 that are expected to ramp up over a period of five to six years.
BUSINESS ENVIRONMENT AND MARKETS
Competitive environment
Rio Tinto is a major producer in all the metals and minerals markets in which it operates. It is generally among the top five global producers by volume. It has market shares for
different commodities ranging from five per cent to 40 per cent. The competitive arena is spread across the globe, including eastern Europe, Russia and China.
Most
of Rio Tinto's competitors are private sector companies which are publicly
quoted. Several are, like Rio Tinto, diversified in terms of commodity exposure,
but others are focused on particular commodity segments. Metal and mineral markets
are highly competitive with few barriers to entry. They can be subject to price
declines in real terms reflecting large productivity gains,
increasing technical sophistication, better management, and advances in information
technology.
High
quality, long life mineral resources, the basis of good financial returns, are
relatively scarce. Rio Tinto's ownership of or interest in some
of the world's largest deposits enables it to contribute to long term market
growth.
World
      production volumes are likely to grow at least in line with global economic
      activity. The emergence of China and eventually India as major economies
      requiring metals and minerals for development could mean even higher market
growth.
Economic overview
World economic activity in 2005 grew by 4.3 per cent on a purchasing power parity basis compared with 5.1 per cent in 2004. This was led by the US and China which grew by 3.6 per cent
and 9.5 per cent respectively. In Asia as a whole growth was 4.5 per cent while Japan grew by 2.5 per cent. Latin America grew by 4.1 per cent. European activity lagged showing growth of 1.6 per cent.
Inflation generally remained low by historical standards in spite of the large rise in prices of oil and other commodities. This reflected fierce
competition in the manufacturing sector and generally weak labour markets.
During 2005 China's growth continued to provide momentum to commodity demand offsetting more patchy demand conditions in some OECD countries. At the
same time, with low stocks, production problems, increased input costs and heightened speculative activity in some commodities, the prices of most metals and minerals rose and remained well above the historical trend.
The seaborne iron ore trade continued to grow strongly with China's iron ore imports nearly 32 per cent above their 2004 level. Price increases of
71.5 per cent during the year underlined the tightness of the market.
The cash cost of copper reached new record highs of over US$2 per pound in December 2005. Over the year the average spot price was US$1.66 per
pound. Speculative activity over the course of the year led to surges in spot prices as market participants scrambled occasionally to meet immediate needs.
Coking coal prices more than doubled with significant increases in Asian demand. Prices for Powder River Basin coal also more than doubled over the year
due to the general tightness of US energy markets and transport issues. Prices for seaborne thermal coal rose by over 20 per cent. Uranium prices also rose strongly during 2005.
Aluminium prices rallied strongly throughout the second half of 2005 averaging 86 US cents per pound for the year as a whole. The renewed upward momentum
in prices has been driven in part by fund buying on the expectation of tighter markets in 2006. Factors such as record high alumina prices, announcements of power related smelter shutdowns and a slowdown in Chinese exports all contributed to the
increasingly positive market sentiment.
Demand for industrial minerals such as borates and titanium minerals continued to benefit from solid US demand.
Gold prices escalated in the latter half of the year and averaged US$444 per ounce for 2005 as a whole. Many less widely traded metals also benefited
from much higher prices, notably molybdenum, which averaged US$31 per pound, a 25 year high.
A discussion of the financial results for the two years to 31 December 2005 is given in the Financial review on pages 39 to 57.
Comments on the financial performance of the individual product groups for the two years to 31 December 2005 are included in the Operating review on
pages 57 to 80. Details of production, reserves and information on Group mines are given on pages 15 to 35. Analyses of Rio Tinto's revenues by product group, geographical origin and geographical destination have been set out in Notes 32 to 33
to the 2005 Financial statements on pages A-52 to A-55.
Marketing channels
Each business within each product group is responsible for the marketing and sale of their respective metal and mineral production.
Consequently, Rio Tinto has numerous marketing channels, which now include electronic marketplaces, with differing characteristics and pricing
mechanisms.
In general, Rio Tinto's businesses contract their metal and mineral production direct to end users under long term supply contracts and at
prevailing market prices. Typically, these contracts specify annual volume commitments and an agreed mechanism for determining prices. For example, businesses producing non ferrous metals and minerals
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reference their sales prices to the London Metal Exchange (LME) or other metal exchanges such as the Commodity Exchange Inc (Comex) in New York. Businesses producing coal and iron ore
would typically reference their sales prices to annually negotiated industry benchmarks. In markets where international reference market prices do not exist or are not transparent, businesses negotiate product prices on an individual customer
basis.
Fluctuations in these prices, particularly for aluminium, copper and gold, inevitably affect the Group's financial results.
Rio Tinto's marketing channels include a network of regional sales offices worldwide. Some products in certain geographical markets are sold via
third party agents.
Governmental regulations
Rio Tinto is subject to extensive governmental regulations affecting all aspects of its operations and consistently seeks to apply best practice in all of its activities. Due to Rio
Tinto's product and geographical spread, there is unlikely to be any single governmental regulation that could have a material effect on the Group's business.
Rio Tinto's operations in Australia, New Zealand, and Indonesia are subject to state, provincial and federal regulations of general application
governing mining and processing, land tenure and use, environmental requirements, workplace health and safety, trade and export, corporations, competition, access to infrastructure, foreign investment and taxation. Some operations are conducted
under specific agreements with the respective governments and associated acts of parliament. In addition, Rio Tinto's uranium operations in the Northern Territory, Australia and Namibia are subject to specific regulation in relation to mining
and the export of uranium.
US and Canada based operations are subject to local and national regulations governing land use, environmental aspects of operations, product and
workplace health and safety, trade and export administration, competition, securities and taxation.
The South African Mineral and Petroleum Resources Development Act 2002, as read with the Empowerment Charter for the South African Mining Industry,
targets the transfer (for fair value) of 26 per cent ownership of existing South African mining assets to historically disadvantaged South Africans (HDSAs) within ten years. Attached to the Empowerment Charter is a "scorecard" by which
companies will be judged on their progress towards empowerment and the attainment of the target transfer of 26 per cent ownership. The scorecard also provides that in relation to existing mining assets 15 per cent ownership should vest in HDSAs
within five years of 1 May 2004. Rio Tinto anticipates that the government of South Africa will continue working towards the introduction of new royalty payments in respect of mining tenements, expected to become effective during 2009.
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METALS AND MINERALS PRODUCTION
2003
2004
2005
Production (a)
Production
    (a)
Production
(a)
Rio Tinto
Total
Rio Tinto
Total
Rio Tinto
Total
Rio
    Tinto
%
    share (b)
share
share
share
ALUMINA ('000 tonnes)
Comalco Alumina Refinery (Australia) (c)
100.0
—
—
175
175
835
835
Eurallumina (Italy)
56.2
1,021
573
1,064
597
1,070
601
Queensland Alumina (Australia)
38.6
3,731
1,440
3,778
1,459
3,953
1,526
Rio Tinto total
2,014
2,231
2,963
ALUMINIUM (refined) ('000 tonnes)
Anglesey (UK)
51.0
141.9
72.4
144.8
73.8
143.9
73.4
Bell Bay (Australia)
100.0
166.6
166.6
162.0
162.0
173.8
173.8
Boyne Island (Australia)
59.4
520.9
311.1
540.5
321.2
544.9
326.2
Tiwai Point (New Zealand)
79.4
334.4
266.5
350.3
279.5
351.4
280.3
Rio Tinto total
816.6
836.5
853.7
BAUXITE ('000 tonnes)
Boké (Guinea) (d)
—
12,060
418
5,773
179
—
—
Weipa (Australia)
100.0
11,898
11,898
12,649
12,649
15,474
15,474
Rio Tinto total
12,316
12,828
15,474
BORATES ('000 tonnes)
(e)
Boron mine (US)
100.0
541
541
543
543
540
540
Borax Argentina (Argentina)
100.0
17
17
22
22
20
20
Rio Tinto total
559
565
560
COAL – HARD COKING ('000 tonnes)
Rio Tinto Coal Australia
(f)
Hail Creek Coal (Australia) (g)
82.0
883
812
5,104
4,633
5,900
4,838
Kestrel Coal (Australia)
80.0
1,873
1,499
2,659
2,127
2,946
2,357
Rio Tinto total hard coking coal
2,311
6,760
7,195
COAL – OTHER* ('000 tonnes)
Rio Tinto Coal Australia
(f)
Bengalla (Australia)
30.3
6,203
1,879
5,312
1,609
5,965
1,806
Blair Athol (Australia)
71.2
12,480
8,890
12,229
8,712
10,600
7,551
Hunter Valley Operations (Australia)
75.7
12,008
9,091
13,269
10,046
12,374
9,369
Kestrel Coal (Australia)
80.0
1,449
1,159
623
499
774
619
Mount Thorley Operations (Australia)
60.6
3,153
1,910
3,548
2,149
3,962
2,400
Tarong Coal (Australia)
100.0
6,538
6,538
7,004
7,004
6,470
6,470
Warkworth (Australia)
42.1
5,868
2,469
6,954
2,926
6,293
2,647
Total Australian other coal
31,935
32,943
30,863
Kaltim Prima Coal
(Indonesia) (h)
—
12,655
6,327
—
—
—
—
Rio Tinto Energy America
(i)
Antelope (US)
100.0
26,806
26,806
26,928
26,928
27,174
27,174
Colowyo (US)
(i)
4,535
4,535
5,788
5,788
5,325
5,325
Cordero Rojo (US)
100.0
32,671
32,671
35,233
35,233
34,234
34,234
Decker (US)
50.0
7,358
3,679
7,831
3,916
6,288
3,144
Jacobs Ranch (US)
100.0
32,418
32,418
34,979
34,979
33,823
33,823
Spring Creek (US)
100.0
8,069
8,069
10,892
10,892
11,881
11,881
Total US coal
108,177
117,734
115,580
Rio Tinto total other coal
146,439
150,677
146,443
*
Coal – other
    includes thermal coal, semi-soft coking coal and semi-hard coking coal.
See
    notes on page 18
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METALS AND MINERALS PRODUCTION continued
2003
2004
2005
Production
    (a)
Production
    (a)
Production
(a)
Rio Tinto
Total
Rio Tinto
Total
Rio Tinto
Total
Rio
    Tinto
%
    share (b)
share
share
share
COPPER (mined) ('000 tonnes)
Alumbrera (Argentina) (j)
—
34.9
8.7
—
—
—
—
Bingham Canyon (US)
100.0
281.8
281.8
263.7
263.7
220.6
220.6
Escondida (Chile)
30.0
992.7
297.8
1,207.1
362.1
1,270.2
381.1
Grasberg – FCX (Indonesia) (k)
—
444.1
84.5
396.4
5.5
—
—
Grasberg – Joint Venture (Indonesia) (k)
40.0
271.7
108.7
120.0
48.0
273.9
109.6
Neves Corvo (Portugal) (l)
—
77.5
38.0
46.9
23.0
—
—
Northparkes (Australia)
80.0
27.1
21.7
30.0
24.0
54.0
43.2
Palabora (South Africa) (m)
47.2
52.4
25.8
54.4
26.8
61.2
30.0
Rio Tinto total
867.0
753.1
784.4
COPPER (refined) ('000 tonnes)
Atlantic Copper (Spain) (k)
—
247.1
38.1
58.4
7.0
—
—
Escondida (Chile)
30.0
147.6
44.3
152.1
45.6
143.9
43.2
Kennecott Utah Copper (US)
100.0
230.6
230.6
246.7
246.7
232.0
232.0
Palabora (South Africa) (m)
47.2
73.4
36.1
67.5
33.2
80.3
39.3
Rio Tinto total
349.1
332.6
314.5
DIAMONDS ('000 carats)
Argyle (Australia)
100.0
30,910
30,910
20,620
20,620
30,476
30,476
Diavik (Canada)
60.0
3,833
2,300
7,575
4,545
8,272
4,963
Merlin (Australia)
—
62
62
—
—
—
—
Murowa (Zimbabwe) (n)
77.8
—
—
47
36
251
195
Rio Tinto total
33,272
25,202
35,635
GOLD (mined) ('000 ounces)
Alumbrera (Argentina) (j)
—
124
31
—
—
—
—
Barneys Canyon (US)
100.0
35
35
22
22
16
16
Bingham Canyon (US)
100.0
305
305
308
308
401
401
Cortez/Pipeline (US)
40.0
1,085
434
1,051
421
904
361
Escondida (Chile)
30.0
184
55
217
65
183
55
Grasberg – FCX (Indonesia) (k)
—
1,456
354
1,377
14
—
—
Grasberg – Joint Venture (Indonesia) (k)
40.0
1,806
722
207
83
1,676
670
Greens Creek (US)
70.3
99
70
86
61
73
51
Kelian (Indonesia)
90.0
469
422
328
295
43
38
Lihir (Papua New Guinea) (o)
—
551
88
599
87
424
61
Morro do Ouro (Brazil) (p)
—
201
103
188
96
—
—
Northparkes (Australia)
80.0
49
39
79
63
57
46
Peak (Australia) (j)
—
20
20
—
—
—
—
Rawhide (US)
51.0
64
32
50
25
35
18
Rio Tinto Zimbabwe (Zimbabwe) (q)
—
25
14
11
6
—
—
Others
—
14
7
13
7
15
7
Rio Tinto total
2,731
1,552
1,726
GOLD (refined) ('000 ounces)
Kennecott Utah Copper (US)
100.0
308
308
300
300
369
369
IRON ORE ('000 tonnes)
Channar (Australia)
60.0
10,347
6,208
9,759
5,855
8,644
5,186
Corumbá (Brazil)
100.0
1,074
1,074
1,301
1,301
1,410
1,410
Eastern Range (Australia)
(r)
—
—
2,970
2,970
6,559
6,559
Hamersley Iron (Australia)
100.0
63,056
63,056
65,407
65,407
74,387
74,387
Iron Ore Company of Canada (Canada)
58.7
14,225
8,353
11,139
6,541
15,647
9,188
Robe River (Australia)
53.0
45,136
23,922
48,459
25,684
52,385
27,764
Rio Tinto total
102,613
107,757
124,494
See
    notes on page 18
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METALS AND MINERALS PRODUCTION continued
2003
2004
2005
Production
        (a)
Production
        (a)
Production
(a)
Rio
        Tinto
Total
Rio
        Tinto
Total
Rio
        Tinto
Total
Rio
        Tinto
%
        share (b)
share
share
share
LEAD ('000 tonnes)
Greens Creek (US)
70.3
22.5
15.8
19.8
13.9
16.9
11.9
Zinkgruvan (Sweden) (s)
—
31.8
31.8
11.2
11.2
—
—
Rio Tinto total
47.6
25.1
11.9
MOLYBDENUM ('000 tonnes)
Bingham Canyon (US)
100.0
4.6
4.6
6.8
6.8
15.6
15.6
NICKEL (mined) ('000 tonnes)
Fortaleza (Brazil) (t)
—
6.0
6.0
—
—
—
—
NICKEL (refined) ('000 tonnes)
Empress (Zimbabwe) (q)
—
6.2
3.5
2.9
1.6
—
—
SALT ('000 tonnes)
Dampier Salt (Australia)
64.9
7,135
4,633
7,380
4,792
8,480
5,507
SILVER (mined) ('000 ounces)
Bingham Canyon (US)
100.0
3,548
3,548
3,584
3,584
3,958
3,958
Escondida (Chile)
30.0
4,728
1,418
5,747
1,724
6,565
1,970
Grasberg – FCX (Indonesia) (k)
—
3,659
745
3,077
79
—
—
Grasberg – Joint Venture (Indonesia) (k)
40.0
2,815
1,126
1,961
784
3,410
1,364
Greens Creek (US)
70.3
11,707
8,226
9,707
6,821
9,664
6,791
Zinkgruvan (Sweden) (s)
—
1,841
1,841
651
651
—
—
Others
—
2,511
1,407
2,025
1,187
1,422
843
Rio Tinto total
18,311
14,830
14,926
SILVER (refined) ('000 ounces)
Kennecott Utah Copper (US)
100.0
2,963
2,963
3,344
3,344
3,538
3,538
TALC ('000 tonnes)
Luzenac Group (Australia/Europe/N. America) (u)
100.0
1,358
1,357
1,444
1,443
1,364
1,364
TIN (tonnes)
Neves Corvo (Portugal) (l)
—
203
100
120
59
—
—
TITANIUM DIOXIDE FEEDSTOCK ('000 tonnes)
Rio Tinto Iron & Titanium (Canada/South Africa) (v)
100.0
1,192
1,192
1,192
1,192
1,312
1,312
URANIUM (tonnes U
3
O
8
)
Energy Resources of Australia (Australia)
68.4
5,134
3,512
5,143
3,517
5,903
4,037
Rössing (Namibia)
68.6
2,401
1,647
3,582
2,457
3,711
2,545
Rio Tinto total
5,158
5,974
6,582
ZINC (mined) ('000 tonnes)
Greens Creek (US)
70.3
69.1
48.5
62.7
44.1
52.9
37.2
Zinkgruvan (Sweden) (s)
—
64.5
64.5
29.7
29.7
—
—
Rio Tinto total
113.0
73.8
37.2
See
    notes on page 18
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METALS AND MINERALS PRODUCTION continued
Production
    data notes
(a)
Mine production figures for metals refer to the total quantity of metal produced in concentrates or doré bullion irrespective of whether these products are then refined onsite,
except for the data for iron ore and bauxite which represent production of saleable quantities of ore.
(b)
Rio Tinto percentage share, shown above, is as at the end of 2005 and has applied over the period 2003 – 2005 except for those operations where the share has varied during the
year and the weighted average for them is shown below. The Rio Tinto share varies at individual mines and refineries in the "others" category and thus no value is shown.
Rio Tinto share %
Operation
See Note
2003
2004
2005
Atlantic Copper
(k)
15.4
12.0
—
Grasberg - FCX
(k)
13.9
10.8
—
Hail Creek
(g)
92.0
90.8
82.0
Lihir
(o)
16.0
14.5
—
Palabora
(m)
49.2
49.2
49.0
(c)
Comalco Alumina Refinery started production in October 2004.
(d)
Rio Tinto completed the sale of its four per cent interest in the Boké mine on 25 June 2004. Production data are shown up to the date of sale.
(e)
Borate quantities are expressed as B
2
O
3
.
(f)
Rio Tinto Coal Australia manages all the Australian coal operations including the mines which were previously reported separately under the Coal & Allied name.
(g)
Hail Creek commenced production in the third quarter of 2003. Rio Tinto reduced its shareholding in Hail Creek from 92.0 per cent to 82.0 per cent on 15 November 2004.
(h)
Rio Tinto had
a 50 per cent share in Kaltim Prima and, under the terms of its Coal Agreement,
the Indonesian Government was entitled to a 13.5 per cent share
of Kaltim Prima's production. Rio Tinto's share of production shown
is before deduction of the Government share. Rio Tinto completed the sale of its interest in PT Kaltim Prima Coal on 10 October 2003. Production data are shown up to the date of sale.
(i)
Rio Tinto Energy America was formerly known as Kennecott Energy. In view of Rio Tinto Energy America's responsibilities under a management agreement for the operation of the
Colowyo mine, all of Colowyo's output is included in Rio Tinto's share of production.
(j)
Rio Tinto completed the sale of its 25 per cent interest in Minera Alumbrera together with its wholly owned Peak Gold Mine on 17 March 2003. Production data are shown up to the date
of sale.
(k)
From mid 1995 until 30 March 2004, Rio Tinto held 23.93 million shares of Freeport-McMoRan Copper & Gold (FCX) common stock from which it derived a share of production. This
interest was sold to FCX on 30 March 2004. Also, through a joint venture agreement with FCX, Rio Tinto is entitled, as shown separately in the above tables, to 40 per cent of additional material mined as a consequence of expansions and developments
of the Grasberg facilities since 1998.
(l)
Rio Tinto completed the sale of its 49 per cent interest in Somincor on 18 June 2004. Production data are shown up to the date of sale.
(m)
During the second half of 2005, the conversion of debentures into ordinary shares resulted in a dilution of Rio Tinto's shareholding in Palabora from 49.2 per cent to 47.2 per
cent.
(n)
Ore mining and processing at Murowa commenced during the third quarter of 2004.
(o)
Following a
placement of shares on 13 November 2003 Rio Tinto's interest in Lihir moved
from 16.3 per cent to 14.5 per cent. On
30
November 2005, Rio Tinto sold its interest in Lihir Gold; it had agreed in September 2005 to relinquish the management agreement for Lihir. The production data are shown up to 30
September 2005, from which date the Rio Tinto interest in Lihir was held as an investment rather than being equity accounted.
(p)
Rio Tinto sold its interest in Morro do Ouro on 31 December 2004. Production data are shown up to the date of sale.
(q)
As a result of the corporate restructuring completed on 8 July 2004, Rio Tinto has ceased to be an ordinary shareholder in the renamed RioZim but will retain a reduced cash
participation in its gold and nickel assets for a period of ten years.
(r)
Rio Tinto's share of production includes 100 per cent of the production from the Eastern Range mine, which commenced production in March 2004. Under the terms of the joint
venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture.
(s)
Rio Tinto completed the sale of its 100 per cent interest in the Zinkgruvan mine on 2 June 2004. Production data are shown up to the date of sale.
(t)
Rio Tinto completed the sale of its 100 per cent interest in the Fortaleza nickel mine on 16 January 2004. This was effective from 1 January 2004.
(u)
Talc production includes some products derived from purchased ores.
(v)
Quantities comprise 100 per cent of QIT and 50 per cent of Richards Bay Minerals' production.
Rio
        Tinto 2005
Form
        20-F
18
Back to Contents
ORE RESERVES
Under Industry Guide 7
Reserves
        have been prepared in accordance with Industry Guide 7 under the United
    States Securities Act of 1933 and the following definitions:
•
An 'Ore
        Reserve' means that part of a mineral deposit that can be economically
        and legally extracted or
produced at the time of the reserves determination. To establish
        this, studies appropriate to the type of mineral
deposit
        involved have been carried out to estimate the quantity, grade and value
        of the ore mineral(s) present. In
addition,
        technical studies have been completed to determine realistic assumptions
        for the extraction
of the
minerals
including estimates of mining, processing, economic, marketing, legal, environmental,
social and
governmental factors. The degree of these studies is sufficient
to demonstrate the technical and economic
feasibility
of the project and depends on whether or not the project is an extension of an
existing project or
operation.
The estimates of minerals to be produced include allowances for ore losses and
the treatment of
unmineralised
materials which may occur as part of the mining and processing activities. Ore
Reserves are sub-
divided in order of increasing confidence into Probable Ore
Reserves and Proven Ore Reserves as defined below.
•
The
        term "economically", as used in the definition of reserves, implies that
        profitable extraction or production
under defined investment assumptions has been established
        through the creation of a mining plan, processing
plan
        and cash flow model. The assumptions made must be reasonable, including
        costs and operating conditions
that
    will prevail during the life of the project.
•
Ore
        reserves presented in accordance with SEC Industry Guide 7 do not exceed
        the quantities that, it is
estimated, could be extracted economically if future prices
        were to be in line with the average of historical prices
for
        the three years to 30 June 2005, or contracted prices where applicable.
        For this purpose, contracted prices are
applied
        only to future sales volumes for which the price is predetermined by
        an existing contract;
and the
average
of historical prices is applied to expected sales volumes in excess of such amounts.
Moreover, reported
ore reserve estimates have not been increased above the levels
expected to be economic based on Rio Tinto's
own
long term price assumptions.
•
The
        term "legally", as used in the definition of reserves, does not imply
        that all permits needed for mining and
processing have been obtained or that other legal issues have
        been completely resolved. However, for reserves to
exist,
        there is reasonable assurance of the issuance of these permits or resolution
        of legal issues. Reasonable
assurance
        means that, based on applicable laws and regulations, the issuance of
        permits or resolution of
legal
issues
necessary for mining and processing at a particular deposit will be accomplished
in the ordinary course of
business and in a timeframe consistent with the Company's
current mine plans.
•
The
        term "proven reserves" means reserves for which (a) quantity is computed
        from dimensions revealed in
outcrops, trenches, workings or drill holes; grade and/or
        quality are computed from the results of detailed
sampling;
        and (b) the sites for inspection, sampling and measurement are spaced
        so closely and the geologic
character
        is so well defined that size, shape, depth and mineral content of reserves
        are well established.
Proven
reserves
represent that part of an orebody for which there exists the highest level of
confidence in data regarding
its geology, physical characteristics, chemical composition
and probable processing requirements.
•
The
        term "probable reserves" means reserves for which quantity and grade
        and/or quality are computed from
information similar to that used for proven reserves, but
        the sites for inspection, sampling and measurement are
farther
        apart or are otherwise less adequately spaced. The degree of assurance,
        although lower than that for
proven
        reserves, is high enough to assume continuity between points of observation.
        This means that
probable
reserves
generally have a wider drill hole spacing than for proven reserves.
•
The
        amount of proven and probable reserves shown below does not necessarily
        represent the amount of material
currently scheduled for extraction, because the amount scheduled
        for extraction may be derived from a life of
mine
        plan predicated on prices and other assumptions which are different to
        those used in the life of mine plan
prepared
    in accordance with Industry Guide 7.
•
The
        estimated ore reserve figures in the following tables are as of 31 December
        2005. Metric units are used
throughout. The figures used to calculate Rio Tinto's share
        of reserves are often more precise than the rounded
numbers
        shown in the tables, hence small differences might result if the calculations
        are repeated using the
tabulated
    figures. Commodity price information is given in Note (a) on page 28.
Rio
        Tinto 2005
Form
        20-F
19
Back to Contents
ORE
RESERVES continued
Under Industry Guide 7
Total
      ore reserves at end
Type
      of
2005
mine
Interest
Rio
      Tinto
(b)
Tonnage
Grade
%
share
Recoverable
mineral
millions
millions
BAUXITE
(d)
of
        tonnes
%Al
2
O
3
of
        tonnes
Reserves
      at operating mine
Weipa
      (Australia)
O/P
1,211
53.7
100.0
1,211
Marketable
product
millions
millions
BORATES
(e)
of
        tonnes
of
    tonnes
Reserves at operating mine
Boron (US)
– mine
O/P
21.3
100.0
21.3
–  stockpiles (i)
S/P
2.1
100.0
2.1
Rio Tinto total
23.5
Coal type
Marketable
Marketable
    coal quality
(g)
reserves
(h)
(h)
Marketable
Calorific
Sulphur
reserves
millions
value
content
millions
COAL
(f)
of tonnes
MJ/kg
%
of tonnes
Reserves at operating mines
Rio Tinto Energy America
(k)
Antelope (US) (j)
O/C
SC
384
20.59
0.25
100.0
384
Colowyo (US) (k)
O/C
SC
20
24.48
0.40
100.0
20
Cordero Rojo (US)
O/C
SC
321
19.59
0.31
100.0
321
Decker (US)
O/C
SC
22
22.10
0.37
50.0
11
Jacobs Ranch (US)
O/C
SC
456
20.35
0.44
100.0
456
Spring Creek (US)
O/C
SC
213
21.75
0.33
100.0
213
Total US coal
1,405
Rio Tinto Coal Australia
Bengalla (Australia)
O/C
SC
155
28.30
0.50
30.3
47
Blair Athol (Australia)
O/C
SC
50
27.95
0.32
71.2
36
Hail Creek (Australia)
O/C
MC
184
32.20
0.35
82.0
151
Hunter Valley Operations
O/C
SC + MC
320
28.94
0.57
75.7
242
(Australia)
Kestrel (Australia)
U/G
SC + MC
116
32.20
0.65
80.0
93
Mount Thorley Operations
O/C
SC + MC
23
29.48
0.46
60.6
14
(Australia)
Tarong-Meandu (Australia)
O/C
SC
86
21.05
0.30
100.0
86
Warkworth (Australia)
O/C
SC + MC
262
28.87
0.45
42.1
110
Total Australian coal
779
Rio Tinto total reserves at operating mines
2,184
Undeveloped reserves
(l)
Rio Tinto Coal Australia
Clermont (Australia)
O/C
SC
189
27.90
0.33
50.1
95
Mount Pleasant (Australia)
O/C
SC
350
26.73
0.51
75.7
265
Tarong-Kunioon (Australia)
O/C
SC
163
21.05
0.30
100.0
163
Rio Tinto total undeveloped reserves
523
See notes on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
20
Back to Contents
ORE
RESERVES continued
Under Industry Guide 7
Type of
Total
    ore reserves
Average
at
    end 2005
mill
mine
recovery
Interest
Rio
	      Tinto
(b)
Tonnage
Grade
%
%
share
COPPER
millions
%Cu
Recoverable
metal
millions
of
    tonnes
of
    tonnes
Reserves at operating mines
Bingham Canyon (US)
–  mine
O/P
648
0.55
85
100.0
3.026
–  stockpiles (i)
S/P
18
0.38
85
100.0
0.060
Escondida (Chile)
–  sulphide mine
O/P
1,065
1.22
84
30.0
3.274
–  sulphide leach mine
O/P
661
0.52
37
30.0
0.380
–  oxide mine
O/P
37
0.56
82
30.0
0.052
–  sulphide stockpiles (i)
S/P
18
1.23
84
30.0
0.055
–  sulphide leach stockpiles (i)
S/P
203
0.65
37
30.0
0.143
–  oxide stockpiles (i)
S/P
115
0.66
82
30.0
0.187
Escondida Norte (Chile)
–  sulphide mine
O/P
573
1.38
89
30.0
2.108
–  sulphide leach mine
O/P
332
0.59
33
30.0
0.191
–  oxide mine
O/P
120
0.79
54
30.0
0.153
–  sulphide stockpiles (i)
S/P
2.3
1.51
89
30.0
0.009
–  sulphide leach stockpiles (i)
S/P
7.4
0.83
33
30.0
0.006
–  oxide stockpiles (i)
S/P
10
0.46
54
30.0
0.008
Grasberg (Indonesia)
O/P + U/G
2,822
1.07
89
(m)
7.714
Northparkes (Australia) (n)
–  stockpiles (i)
S/P
3.8
0.67
85
80.0
0.017
– mine
U/G
52
1.13
90
80.0
0.426
Palabora (South Africa) (o)
–  mine
U/G
142
0.56
88
47.2
0.331
Rio Tinto total
18.140
DIAMONDS
(d)
millions
carats
Recoverable
diamonds
millions
of
    tonnes
per
    tonne
of
    carats
Reserves at operating mines
Argyle (Australia)
–  AK1 pipe mine
O/P
25
2.9
100.0
73.5
–  AK1 pipe stockpiles (i)
S/P
3.3
0.9
100.0
3.0
Diavik (Canada)
O/P + U/G
28
3.2
60.0
54.2
Murowa (Zimbabwe)
O/P
23
0.7
77.8
12.1
Rio Tinto total
142.8
GOLD
millions
grammes
Recoverable
metal
millions
of
    tonnes
per
    tonne
of
    ounces
Reserves at operating mines
Bingham Canyon (US)
–  mine
O/P
648
0.32
63
100.0
4.234
–  stockpiles (i)
S/P
18
0.23
63
100.0
0.084
Cortez/Pipeline (US) (p)
–  mine
O/P
233
1.38
74
40.0
3.050
–  stockpiles (i)
S/P
1.7
3.89
86
40.0
0.072
Grasberg (Indonesia)
O/P + U/G
2,822
0.92
74
(m)
14.606
Greens Creek (US)
U/G
6.4
3.95
69
70.3
0.394
Northparkes (Australia) (n)
–  stockpiles (i)
S/P
3.8
0.58
76
80.0
0.043
–  mine
U/G
52
0.49
76
80.0
0.503
Rio Tinto total
22.986
See
    notes on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
21
Back to Contents
ORE
RESERVES continued
Under Industry Guide 7
Total
    ore reserves
Average
Type
    of
at
    end 2005
mill
mine
recovery
Interest
Rio
        Tinto
(b)
Tonnage
Grade
%
%
share
IRON
	      ORE
(d)
millions
%Fe
Marketable
product
millions
of
    tonnes
of
    tonnes
Reserves
at operating mines and mines under construction
Channar (Australia)
– Brockman Ore
O/P
109
63.5
60.0
65
Corumbá (Brazil)
O/P
216
67.2
100.0
216
Eastern Range (Australia)
– Brockman Ore
O/P
104
63.0
54.0
56
Hamersley (Australia)
– Brockman 2 (Brockman Ore) (q)
O/P
37
62.5
100.0
37
– Brockman 4 (Brockman Ore) (q)
O/P
579
62.2
100.0
579
– Marandoo (Marra Mamba Ore)
O/P
72
61.9
100.0
72
– Mt Tom Price (Brockman Ore)
–  mine
O/P
138
64.6
100.0
138
–  stockpiles (i)
S/P
12
64.5
100.0
12
– Paraburdoo (Brockman Ore)
O/P
15
63.8
100.0
15
– Paraburdoo (Marra Mamba Ore)
O/P
1.0
63.1
100.0
1
– Nammuldi (Marra Mamba Ore)
O/P
37
61.5
100.0
37
– Yandicoogina (Pisolite Ore HG) (r)
–  mine
O/P
384
58.1
100.0
384
–  stockpiles
 (i)
S/P
3.7
58.3
100.0
4
– Yandicoogina (Process Product) (r)
–  mine
O/P
103
58.8
100.0
103
Iron Ore Company of Canada
O/P
427
65.0
58.7
251
(Canada)
Robe River (Australia)
– Pannawonica (Pisolite Ore) (s)
–  mine
O/P
287
57.2
53.0
152
–  stockpiles (i)
S/P
16
56.9
53.0
8
– West Angelas (Marra Mamba Ore)
–  mine
O/P
393
62.2
53.0
209
–  stockpiles (i)
S/P
1.0
59.7
53.0
1
Rio
        Tinto total
(t)
2.339
LEAD
millions
%Pb
Recoverable
metal
millions
of
    tonnes
of
    tonnes
Reserves at operating mine
Greens Creek (US)
U/G
6.4
3.93
67
70.3
0.119
MOLYBDENUM
millions
%Mo
Recoverable
metal
millions
of
    tonnes
of
    tonnes
Reserves at operating mine
Bingham Canyon (US)
– mine
O/P
648
0.043
59
100.0
0.164
– stockpiles (i)
S/P
18
0.034
59
100.0
0.004
Rio Tinto total
0.168
See notes
    on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
22
Back to Contents
ORE
RESERVES continued
Under Industry Guide 7
Total ore reserves
Average
Type
      of
at end 2005
mill
mine
recovery
Interest
Rio
      Tinto
(b)
Tonnage
Grade
%
%
share
Recoverable
SILVER
metal
millions
grammes
millions
of
      tonnes
per
      tonne
of
      ounces
Reserves
      at operating mines
Bingham
      Canyon (US)
–
      mine
O/P
648
2.62
76
100.0
41.243
–
      stockpiles (i)
S/P
18
1.73
76
100.0
0.769
Grasberg
      (Indonesia)
O/P
      + U/G
2,822
4.02
67
(m)
70.235
Greens
      Creek (US)
U/G
6.4
505
73
70.3
53.273
Rio
      Tinto total
165.520
Marketable
TALC
(e)
product
millions
millions
of
      tonnes
of
      tonnes
Reserves
      at operating mines
Luzenac
      Group (Europe /
North
      America / Australia)
O/P
      + U/G
48.7
100.0
48.7
Marketable
TITANIUM
      DIOXIDE
product
FEEDSTOCK
(e)
      (u)
millions
millions
of
      tonnes
of
      tonnes
Reserves
      at operating mines
QIT
      (Canada)
O/P
60.3
100.0
60.3
QMM
      (Madagascar)
D/O
12.4
80.0
9.9
RBM
      (South Africa)
D/O
25.9
50.0
13.0
Rio
      Tinto total
83.2
Recoverable
URANIUM
metal
millions
millions
of
      tonnes
%U
3
0
8
of
      tonnes
Reserves
      at operating mines
Energy
      Resources of Australia
(Australia)
–
      Ranger #3 mine
O/P
12.9
0.231
89
68.4
0.0181
–
      Ranger #3 stockpiles (i)
S/P
9.9
0.149
86
68.4
0.0087
Rössing
      (Namibia) (v)
–
      mine
O/P
37
0.037
85
68.6
0.0080
–
      stockpiles (i)
S/P
1.1
0.031
85
68.6
0.0002
Rio
      Tinto total
0.0349
Recoverable
ZINC
metal
millions
millions
of
      tonnes
%Zn
of
      tonnes
Reserves
      at operating mine
Greens
      Creek (US)
U/G
6.4
10.3
77
70.3
0.357
See
      notes on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
23
Back to Contents
ORE
RESERVES continued
Under Industry Guide 7
Type
      of
Proven
      ore reserves
Probable
      ore reserves
mine
at
      end 2005
at
      end 2005
(b)
Tonnage
Grade
Drill
      hole
Tonnage
Grade
Drill
      hole
spacing
      (c)
spacing
      (c)
BAUXITE
(d)
millions
millions
of
      tonnes
%Al
2
O
3
of
      tonnes
%Al
2
O
3
Reserves
      at operating mine
Weipa
      (Australia)
O/P
137
53.9
76m
1,074
53.7
400m
BORATES
(e)
millions
millions
of
      tonnes
of
      tonnes
Reserves
      at operating mine
Boron
      (US)
–
      mine
O/P
16.1
61m
5.3
61m
–
      stockpiles (i)
S/P
0.2
2.0
%
      Yield to
Marketable
      Reserves
Recoverable
give
reserves
marketable
Drill
      hole
Drill
      hole
total
reserves
Proven
spacing
      (c)
Probable
spacing
      (c)
COAL
(f)
millions
millions
millions
of
    tonnes
of
    tonnes
of
    tonnes
Reserves
      at operating mines
Rio
      Tinto Energy America
Antelope
      (US) (j)
O/C
384
100
384
max
      450m
Colowyo
      (US) (k)
O/C
20
100
19
max
      250m
0.9
max
      365m
Cordero
      Rojo (US)
O/C
321
100
321
max
      250m
Decker
      (US)
O/C
22
100
22
max
      250m
Jacobs
      Ranch (US)
O/C
456
100
452
max
      300m
4.3
max
      450m
Spring
      Creek (US)
O/C
213
100
213
max
      250m
Rio
      Tinto Coal Australia
Bengalla
      (Australia)
O/C
190
81
92
350m
62
500m
Blair
      Athol (Australia)
O/C
51
99
49
150m
0.6
150m
Hail
      Creek (Australia)
O/C
291
63
104
300m
80
400m
Hunter
      Valley Operations (Australia)
O/C
469
68
247
300m
73
500m
Kestrel
      (Australia)
U/G
145
80
53
500m
63
1000m
Mount
      Thorley Operations (Australia)
O/C
35
66
20
125m
2.5
500
Tarong-Meandu
      (Australia)
O/C
128
68
79
200m
7.0
400m
Warkworth
      (Australia)
O/C
408
64
162
450m
100
max
      1000m
Undeveloped
      reserves
(l)
Rio
      Tinto Coal Australia
Clermont
      (Australia)
O/C
197
96
163
220m
26
150m
      to 300m
Mount
      Pleasant (Australia)
O/C
459
76
350
125m
      to 500m
Tarong-Kunioon
      (Australia)
O/C
257
63
163
400m
See
      notes on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
24
Back to Contents
ORE RESERVES continued Under Industry Guide 7
Type
	      of
Proven
    ore
reserves at end 2005
Probable
    ore
reserves at end 2005
mine
(b)
Tonnage
Grade
Drill hole
Tonnage
Grade
Drill hole
spacing
	      (c)
spacing
    (c)
COPPER
millions
millions
of tonnes
%Cu
of tonnes
%Cu
Reserves
at operating mines
Bingham Canyon (US)
– mine
O/P
315
0.62
max 90m
333
0.48
max 110m
– stockpiles (i)
S/P
4.6
0.34
14
0.40
Escondida (Chile)
– sulphide mine
O/P
536
1.37
)
55m
529
1.06
)
60m
– sulphide leach mine
O/P
263
0.52
)
to
398
0.53
)
to
– oxide mine
O/P
11
0.67
)
60m
27
0.52
)
110m
– sulphide stockpiles (i)
S/P
18
1.23
– sulphide leach stockpiles (i)
S/P
203
0.65
– oxide stockpiles (i)
S/P
115
0.66
Escondida Norte (Chile)
– sulphide mine
O/P
192
1.65
)
48m
381
1.25
)
60m
– sulphide leach mine
O/P
52
0.54
)
to 54m
281
0.60
)
to
– oxide mine
O/P
120
0.79
)
125m
– sulphide stockpiles (i)
S/P
2.3
1.51
– sulphide leach stockpiles (i)
S/P
7.4
0.83
– oxide stockpiles (i)
S/P
10.3
0.46
Grasberg (Indonesia)
O/P + U/G
783
1.13
13m to 60m
2,040
1.03
42m to 102m
Northparkes (Australia) (n)
– stockpiles (i)
S/P
3.8
0.67
– mine
U/G
52
1.13
40 x 40 x 80m
Palabora (South Africa) (o)
– mine
U/G
112
0.67
75m
30
0.17
75m
DIAMONDS
(d)
millions
carats
millions
carats
of tonnes
per tonne
of tonnes
per tonne
Reserves at operating mines
Argyle (Australia)
– AK1 pipe mine
O/P
20
3.0
50m x 50m
4.9
2.7
50m x 50m
– AK1 pipe stockpiles (i)
S/P
0.3
1.9
3.0
0.8
Diavik (Canada)
O/P + U/G
14
3.4
27m to 30m
14
3.0
30m to 34m
Murowa (Zimbabwe)
O/P
23
0.7
25m
GOLD
millions
grammes
millions
grammes
of tonnes
per tonne
of tonnes
per tonne
Reserves at operating mines
Bingham Canyon (US)
– mine
O/P
315
0.35
max 90m
333
0.29
max
	    110m
– stockpiles (i)
S/P
4.6
0.19
14
0.24
Cortez/Pipeline (US) (p)
– mine
O/P
86
1.94
30m to 43m
147
1.05
30m
	    to 43m
– stockpiles (i)
S/P
1.7
3.89
Grasberg (Indonesia)
O/P + U/G
783
1.01
13m to 60m
2,040
0.89
42m
	    to 102m
Greens Creek (US)
U/G
6.4
3.95
15m
	    to 30m
Northparkes (Australia) (n)
– stockpiles (i)
S/P
3.8
0.58
– mine
U/G
52
0.49
40
	    x 40 x 80m
See
      notes on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
25
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ORE
RESERVES continued
Under Industry Guide 7
Type
Proven ore reserves
Probable ore reserves
of
at end 2005
at end 2005
mine
(b)
Tonnage
Grade
Drill hole
Tonnage
Grade
Drill
	    hole
spacing (c)
spacing
	    (c)
IRON ORE
(d)
millions
millions
of tonnes
%Fe
of tonnes
%Fe
Reserves at operating mines
and mines under construction
Channar (Australia)
– Brockman Ore
O/P
96
63.5
60m x 60m
13
63.6
max
	    120m
Corumbá (Brazil)
O/P
110
67.2
100m x 100m
106
67.2
200m
	    x 400m
Eastern Range (Australia)
– Brockman Ore
O/P
75
63.0
60m x 60m
29
63.0
max
	    120m
Hamersley (Australia)
– Brockman 2 (Brockman Ore) (q)
O/P
28
62.5
50m x 50m
8.8
62.5
max
	    100m
– Brockman 4 (Brockman Ore) (q)
O/P
579
62.2
200m
	    x 100m
– Marandoo (Marra Mamba Ore)
O/P
67
61.8
75m x 75m
4.9
61.9
max
	    150m
– Mt Tom Price (Brockman Ore)
–
mine
O/P
101
64.6
30m x 30m
37
64.8
60m
	    x 30m
–
stockpiles (i)
S/P
12
64.5
– Paraburdoo (Brockman Ore)
O/P
11
63.8
30m x 30m
3.9
63.6
60m
	    x 30m
– Paraburdoo (Marra Mamba Ore)
O/P
1.0
63.1
60m
	    x 60m
– Nammuldi (Marra Mamba Ore)
O/P
6.5
61.8
60m x 60m
30
61.4
120m
	    x 120m
– Yandicoogina (Pisolite Ore HG) (r)
–
mine
O/P
250
58.3
50m x 50m
133
57.8
100m
	    x 50m
–
stockpiles (i)
S/P
3.7
58.3
– Yandicoogina (Process Product) (r)
–
mine
O/P
32
58.8
50m x 50m
70
58.8
100m
	    x 50m
Iron Ore Company of Canada
O/P
346
65.0
122m x 61m
81
65.0
122m
	    x 122m
(Canada)
Robe River (Australia)
– Pannawonica (Pisolite Ore) (s)
–
mine
O/P
246
57.2
25m x 25m
41
57.1
max
	    200m x 50m
–
stockpiles (i)
S/P
2.8
57.0
13
56.9
– West Angelas (Marra Mamba Ore)
–
mine
O/P
134
62.8
25m x 25m
260
61.9
200m
	    x 50m
–
stockpiles (i)
S/P
1.0
59.7
LEAD
millions
millions
of tonnes
%Pb
of tonnes
%Pb
Reserves at operating mine
Greens Creek (US)
U/G
6.4
3.93
15m
	    to 30m
MOLYBDENUM
millions
millions
of tonnes
%Mo
of tonnes
%Mo
Reserves at operating mine
Bingham Canyon (US)
– mine
O/P
315
0.040
max 90m
333
0.045
max
    110m
– stockpiles (i)
S/P
4.6
0.035
14
0.033
See
        notes on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
26
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ORE
RESERVES continued
Under Industry Guide 7
Type of
Proven ore reserves
Probable ore reserves
mine
at end 2005
at end 2005
(b)
Tonnage
Grade
Drill hole
Tonnage
Grade
Drill
	    hole
spacing (c)
spacing
	    (c)
SILVER
millions
grammes
millions
grammes
of tonnes
per tonne
of tonnes
per tonne
Reserves at operating mines
Bingham Canyon (US)
–  mine
O/P
315
2.87
max 90m
333
2.38
max
	    110m
–  stockpiles (i)
S/P
4.6
1.53
14
1.79
Grasberg (Indonesia)
O/P + U/G
783
3.95
13m to 60m
2,040
4.04
42m
	    to 102m
Greens Creek (US)
U/G
6.4
505
15m
	    to 30m
TALC
(e)
millions
millions
of
	      tonnes
of
	      tonnes
Reserves at operating mines
Luzenac Group (Europe / North
O/P
	    + U/G
31.1
15m
	    to 60m
17.6
15m
	    to 100m
America / Australia)
TITANIUM DIOXIDE
millions
millions
FEEDSTOCK
(e) (u)
of
	      tonnes
of
	      tonnes
Reserves at operating mines
QIT (Canada)
O/P
38.8
60m
	    x 60m
21.5
100m
	    x 100m
QMM (Madagascar)
D/O
12.0
200m
	    x 100m
0.4
400m
	    x 200m
RBM (South Africa)
D/O
6.2
50m
	    x 50m
19.7
800m
	    x 100m
URANIUM
millions
millions
of tonnes
%U
3
0
8
of tonnes
%U
3
0
8
Reserves at operating mines
Energy Resources of Australia
(Australia)
–  Ranger #3 mine
O/P
4.5
0.25
<30m
8.4
0.22
>30m
	    x <70m
–  Ranger #3 stockpiles (i)
S/P
9.9
0.15
Rössing (Namibia) (v)
–  mine
O/P
3.7
0.048
20m x 20m
33.3
0.036
60m
	    x 120m
–  stockpiles (i)
S/P
1.1
0.031
ZINC
millions
millions
of tonnes
%Zn
of tonnes
%Zn
Reserves at operating mine
Greens Creek (US)
U/G
6.4
10.3
15m
	    x 30m
See
        notes on pages 28 to 29
Rio
        Tinto 2005
Form
        20-F
27
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ORE RESERVES continued
Under Industry Guide 7
Notes
(a)
Commodity prices (based on a three year average historical price to 30 June 2005) used to test whether the reported reserve estimates could be economically extracted, include the
following benchmark prices:
Ore reserve
Unit
US$
ALUMINIUM
Weipa (Australia)
pound
0.72
COPPER
Bingham Canyon (US)
pound
1.05
Escondida (Chile)*
pound
0.94
Escondida Norte (Chile)*
pound
0.94
Grasberg (Indonesia)*
pound
0.90
Northparkes (Australia)
pound
1.05
Palabora (South Africa)
pound
1.05
GOLD
Bingham Canyon (US)
ounce
381
.
Cortez / Pipeline (US)*
ounce
381
.
Grasberg (Indonesia)*
ounce
350
.
Greens Creek (US)
ounce
381
.
Northparkes (Australia)
ounce
381
.
LEAD
Greens Creek (US)
pound
0.31
MOLYBDENUM
Bingham Canyon (US)
pound
13.0
SILVER
Bingham Canyon (US)
ounce
5.79
Grasberg (Indonesia)*
ounce
5.00
Greens Creek (US)
ounce
5.79
ZINC
Greens Creek (US)
pound
0.44
* = non managed operations
IRON ORE
Australian benchmark (fines)
dmtu**
0.34
Atlantic benchmark (fines)
dmtu**
0.36
** =
    dry metric tonne unit
Prices for all other commodities are determined by individual contract negotiation. The reported reserves for these commodities have been tested to confirm that they could be
economically extracted using a combination of existing contract prices until expiry and thereafter three year historical prices.
(b)
Type of mine: O/P = open pit, O/C = open cut, U/G = underground, D/O = dredging operation, S/P = stockpile.
(c)
Drill hole spacings are either average distances, a specified grid distance (a regular pattern of drill holes - the distance between the drill holes along the two axes of the grid
will be aligned to test the size, shape and continuity of the mineral deposit; as such there may be different distances between the drill holes along the two axes of a grid) or the maximum drill hole spacing that is sufficient to determine the
reserve category for a particular deposit. As the continuity of mineralisation varies from deposit to deposit, the drill hole spacing required to categorise a reserve varies between and within deposit types.
(d)
Reserves of iron ore, bauxite and diamonds are shown as recoverable reserves of saleable product after accounting for all mining and processing losses. Mill recoveries are therefore
not shown.
(e)
Reserves of industrial minerals are expressed in terms of marketable product, i.e. after all mining and processing losses. In the case of borates, the saleable product is
B
2
O
3
.
(f)
Coal reserves are shown as both recoverable and marketable. The yield factors shown reflect the impact of further processing, where necessary, to provide marketable coal. All reserves
at operating mines are assigned, all undeveloped reserves are unassigned. By "assigned" and "unassigned," we mean the following: assigned reserves means coal which has been committed by the coal company to operating mine shafts,
mining equipment, and plant facilities, and all coal which has been leased by the company to others; unassigned reserves represent coal which has not been committed, and which would require new mineshafts, mining equipment, or plant facilities
before operations could begin in the property.
(g)
Coal type: SC = steam/thermal coal; MC = metallurgical/coking coal.
(h)
Analyses of coal from the US were undertaken according to "American Standard Testing Methods" (ASTM) on an "As Received" moisture basis whereas the coals from Australia have been
analysed on an "Air Dried" moisture basis according to Australian Standards (AS).
MJ/kg = megajoules per kilogramme. 1 MJ/kg = 430.2 Btu/lb.
(i)
Stockpile components of reserves are shown for all operations, where relevant.
(j)
The addition of the West Antelope lease to the project has substantially increased the available ore reserve tonnage.
(k)
Rio Tinto Energy America was formerly known as Kennecott Energy. In view of Rio Tinto Energy America's responsibilities under a management agreement for the operation of the
mine, all of Colowyo's reserves are included in Rio Tinto's share shown above.
(l)
The term 'undeveloped reserves' is used here to describe material that is economically viable on the basis of technical and economic studies but for which construction and
commissioning have yet to commence.
Rio
        Tinto 2005
Form
        20-F
28
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ORE RESERVES continued
Under Industry Guide 7
(m)
Under the terms of a joint venture agreement between Rio Tinto and Freeport-McMoRan Copper & Gold (FCX), Rio Tinto is entitled to a direct 40 per cent share in reserves discovered
after 31 December 1994 and it is this entitlement that is shown.
(n)
Open pit mining at Northparkes was completed in 2005, whilst underground reserves increased following updated technical and economic studies.
(o)
Reserves at Palabora have decreased following a reassessment of grade and of dilution effects from the open pit. During the second half of 2005, the conversion of debentures into
ordinary shares resulted in a dilution of Rio Tinto's shareholding in Palabora from 49.2 per cent to 47.2 per cent.
(p)
Portions of the Cortez Hills and Pipeline deposit reserves were reclassified as mineralised material following technical and economic reviews of the mine plans. The Crossroads
extension to the Pipeline mine was added to reserves in 2005.
(q)
Brockman reserves have increased following the development of new geological models and approved mine design extensions.
(r)
Yandicoogina reserves have increased following the development of updated geological models and the approval of mine design and project expansions.
(s)
Pannawonica reserves have increased following revision and updating of geological models and mine designs, leading to the inclusion of reserves for the Mesa A deposit.
(t)
During 2005, Rio Tinto entered into an agreement to purchase a 50 per cent interest in the Hope Downs iron ore project. As at 31 December 2005 the purchase of Hope Downs was
proceeding and was subject to various regulatory approvals, and so no reserves have been reported.
(u)
Reserves for the titanium dioxide operations are presented separately for the first time including those for QMM following successful completion of technical and economic
studies.
(v)
The increased reserves at Rössing reflect the transfer of mineralised material to reserves on the basis of updated technical and economic studies.
(w)
Reserves for the following deposits are no longer shown: Lihir (Papua New Guinea) in which Rio Tinto's interest was sold during 2005 and Jabiluka (Australia) where additional work on
the technical aspects and review of permitting and legal requirements led to a re-assessment of the deposit under Industry Guide 7.
Rio
        Tinto 2005
Form
        20-F
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Back to Contents
GROUP
          OPERATIONS
(wholly
    owned unless stated otherwise)
ALUMINIUM
Operating sites
1
Anglesey Aluminium (51%)
2
Bell Bay
3
Boyne Island (59%)
3
Comalco Alumina Refinery
3
Gladstone Power
Station
(42%)
3
Queensland Alumina (39%)
4
Eurallumina (56%)
5
Tiwai Point (79%)
6
Weipa
BORATES
Operating sites
7
Boron
8
Coudekerque Plant
9
Tincalayu
10
Wilmington Plant
COAL
Operating sites
11
Antelope
12
Bengalla (30%)
13
Blair Athol (71%)
14
Colowyo (20%)
11
Cordero Rojo
15
Decker (50%)
13
Hail Creek (82%)
16
Hunter Valley Operations
(76%)
11
Jacobs Ranch
17
Kestrel (80%)
16
Mt Thorley
Operations
(61%)
15
Spring Creek
18
Tarong
16
Warkworth (42%)
Projects
13
Clermont (50%)
12
Mt Pleasant (76%)
COPPER
      AND GOLD
Operating sites
20
Bougainville (not
    operating)
(54%)
21
Cortez/Pipeline (40%)
22
Escondida (30%)
23
Grasberg joint venture (40%)
24
Kelian (90%)
19
Kennecott Utah Copper
25
Northparkes (80%)
26
Palabora (47%)
27
Rawhide (51%)
Projects
28
Resolution (55%)
DIAMONDS
Operating sites
29
Argyle
30
Diavik (60%)
31
Murowa (78%)
IRON ORE
Operating sites
32
Corumbá
33
Hamersley Iron mines:
Brockman
Marandoo
Mt Tom Price
Paraburdoo
Yandicoogina
Channar (60%)
Eastern
      Range (54%)
33
Robe River mines: (53%)
West Angelas
Pannawonica
34
HIsmelt
®
(60%)
35
Iron Ore Company of
Canada (59%)
Projects
33
Hope Downs (50%)
36
IOC Pellet Plant (59%)
37
Simandou
38
Orissa (51%)
NICKEL
Projects
39
Eagle
POTASH
Projects
40
Rio Colorado Potash
SALT
Operating sites
41
Dampier (65%)
42
Lake MacLeod (65%)
41
Port Hedland (65%)
TALC
Operating
        sites
(only
        major sites are
shown)
43
Ludlow
44
Talc
        de Luzenac
45
Yellowstone
46
Three
        Springs
TITANIUM
        DIOXIDE
FEEDSTOCK
Operating
        sites
47
QIT-Fer
        et Titane Lac Allard
48
QIT-Fer
        et Titane Sorel Plant
49
Richards
        Bay Minerals (50%)
Projects
50
QIT
        Madagascar Minerals (80%)
URANIUM
Operating
        sites
51
ERA
        (68%)
52
Rössing
        (69%)
ZINC,
        LEAD, SILVER
Operating
        sites
53
Greens
        Creek (70%)
Rio
        Tinto 2005
Form
    20-F
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Back to Contents
INFORMATION ON GROUP MINES
(Rio Tinto interest 100 per cent unless otherwise shown)
Mine
Location
Access
Title/lease
ALUMINIUM
Comalco
Weipa, Queensland, Australia
Road, air, and port
Queensland Government lease expires in 2041 with 21 year extension, then two years' notice of termination
COPPER
Escondida
(30%)
Atacama Desert, Chile
Pipeline and road to deep sea port at Coloso
Rights
        conferred by
Government
        under Chilean
Mining
    Code
Grasberg
joint venture
(40%)
Papua, Indonesia
Pipeline, road and port
Indonesian Government Contracts of Work expire in 2021 with option of two ten year extensions
Kennecott Minerals
Cortez/Pipeline (40%)
Nevada, US
Road
Patented and unpatented mining claims
Kennecott Minerals
Greens Creek (70%)
Alaska, US
Port
Patented
        and unpatented
mining
    claims
Kennecott Utah Copper
Bingham Canyon
Near Salt Lake City, Utah, US
Pipeline, road and rail
Owned
Northparkes
(80%)
Goonumbla, New South Wales, Australia
Road and rail
State Government mining lease issued in 1991 for 21 years
Palabora
(47%)
Phalaborwa, Northern Province, South Africa
Rail and road
Lease from South African Government valid until deposits exhausted. Base metal claims owned by Palabora
DIAMONDS
Argyle Diamonds
Kimberley Ranges, Western
Australia
Road and air
Mining tenement held under Diamond (Argyle Diamond Mines Joint Venture) Agreement Act 1981-83; lease extended for 21 years from 2004
Diavik
(60%)
Northwest Territories, Canada
Air, ice road in winter
Mining leases from Canadian federal government
Murowa
(78%)
Zvishavane, Zimbabwe
Road and air
Claims and mining leases
ENERGY
Energy
Resources of Australia
(68%)
Ranger
Northern Territory, Australia
Road
Leases granted by State
Rio
        Tinto 2005
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INFORMATION ON GROUP MINES
(Rio Tinto interest 100 per cent unless otherwise shown)
Mine
History
Type of mine
Power source
ALUMINIUM
Comalco
Bauxite mining commenced in 1961; Major upgrade completed in 1998 to incorporate Alcan's adjacent Ely reserve in overall mining plan; Rio Tinto interest increased from 72.4% to 100% in 2000; In 2004 a mine expansion was completed that will lift annual capacity to 16.5 million tonnes in coming years
Open cut
On site generation; new power station under construction
COPPER
Escondida
(30%)
Production started in 1990 and expanded in phases to 2002 when new concentrator was completed; sulphide leach project approved 2004 and Norte project started production 2005
Open pit
Supplied from SING grid under two contracts with Norgener to 2008 and Nopel (Gas Atacama) to 2009
Grasberg joint venture
(40%)
Joint venture interest acquired 1995; capacity expanded to over 200,000 tonnes of ore per day in 1998 with addition of underground production of more than 35,000 tonnes per day in 2003
Open pit and underground
Long term contract with US-Indonesian consortium operated, purpose built, coal fired generating station
Kennecott Minerals
Cortez/Pipeline (40%)
Gold production started at Cortez in 1969, Pipeline in 1997 and Cortez Hills was approved in 2005.
Open pit
Public utility
Kennecott Minerals
Greens Creek (70%)
Redeveloped in 1997
Underground/drift and fill
On site diesel generators
Kennecott Utah Copper
Bingham Canyon
Interest acquired in 1989; modernisation includes smelter complex and expanded tailings dam
Open pit
On site generation supplemented by long term contracts with Utah Power and Light
Northparkes
(80%)
Interest acquired in 2000; production started in 1995
Open pit and underground
Supplied from State grid
Palabora
(47%)
Development of 20 year underground mine commenced 1996 with open pit closure in 2003
Underground
Supplied by ESCOM via grid network
DIAMONDS
Argyle Diamonds
Interest increased from 59.7% following purchase of Ashton Mining in 2000. Underground mine project approved in 2005 to extend mine life to 2018
Open pit
Long term contract with Ord Hydro Consortium and on site generation back up
Diavik
(60%)
Deposits discovered 1994-1995; construction approved 2000; diamond production started 2003. Second dike closed off in 2005 for mining of additional orebody
Open pit to underground in future
On site diesel generators; installed capacity 27MW
Murowa
(78%)
Discovered 1997; small scale production started 2004
Open pit
Supplied by ZESA
ENERGY
Energy
Resources of
Australia
(68%) Ranger
Mining commenced 1981; interest acquired through North in 2000; life of mine extension to 2014 announced in 2005
Open pit
On site diesel/steam power generation
Rio
        Tinto 2005
Form
        20-F
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INFORMATION ON GROUP MINES
(Rio Tinto interest 100 per cent unless otherwise shown)
Mine
Location
Access
Title/lease
ENERGY
(continued)
Rio Tinto Energy America
Antelope
Colowyo
(20%)
Cordero Rojo
Decker (50%)
Jacobs Ranch
Spring Creek
Wyoming, Montana and Colorado, US
Rail and road
Leases from US and State Governments and private parties, with minimum coal production levels, and adherence to permit requirements and statutes
Rio Tinto Coal Australia
Bengalla (30%)
Blair Athol (71%)
Hail Creek (82%)
Hunter Valley Ops. (76%)
Kestrel (80%)
Mount Thorley Ops. (61%)
Tarong Coal Warkworth (42%)
New South
Wales and Queensland, Australia
Road, rail conveyor and port
Leases granted by State
Rössing Uranium
(69%)
Namib Desert, Namibia
Rail, road and port
Federal lease
INDUSTRIAL MINERALS
Boron
California, US
Road, rail and port
Owned
Dampier Salt
(65%)
Dampier, Lake MacLeod and Port Hedland, Western Australia
Road and port
Mining leases expiring in 2013 at Dampier, 2018 at Port Hedland and 2021 at Lake MacLeod with options to renew in each case
Luzenac
Trimouns, France (other smaller operations in Australia, Europe and North America)
Road and rail
Owner of ground (orebody) and long term lease agreement to 2012
QIT-Fer et Titane
Saguenay County, Quebec, Canada
Rail and port (St Lawrence River)
Mining covered by two Concessions granted by State in 1949 and 1951 which, subject to certain Mining Act restrictions, confer rights and obligations of an owner
Richards Bay Minerals
(50%)
Richards
        Bay, KwaZulu-
Natal,
South
         Africa
Rail, road and port
Long term renewable leases; State lease for Reserve 4 initially runs to end 2022; Ingonyama Trust lease for Reserve 10 runs to 2010
IRON ORE
Hamersley Iron
Brockman
Marandoo
Mount Tom Price
Paraburdoo
Yandicoogina
Channar (60%)
Eastern Range (54%)
Hamersley Ranges, Western Australia
Railway and port (owned by Hamersley Iron and operated by Pilbara Iron)
Agreements for life of mine with Government of Western Australia
Iron Ore Company of
Canada
(59%)
Labrador City, Province of Labrador and Newfoundland
Railway and port facilities in Sept-Iles, Quebec (owned and operated by IOC)
Sublease with the Labrador Iron Ore Royalty Income Fund which has lease agreements with the Government of Newfoundland and Labrador that are due to be renewed in 2020 and 2022
Rio Tinto Brasil
Corumbá
Matto Grosso do Sul, Brazil
Road, air and river
Government licence for undetermined period
Robe River Iron Associates
(53%)
Mesa J
West Angelas
Pilbara region, Western Australia
Railway and port (owned by Robe River and operated by Pilbara Iron)
Agreements for life of mine with Government of Western Australia
Rio
        Tinto 2005
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        20-F
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INFORMATION ON GROUP MINES
(Rio Tinto interest 100 per cent unless otherwise shown)
Mine
History
Type of mine
Power source
ENERGY
(continued)
Rio Tinto Energy America
Antelope
Colowyo (20%)
Cordero Rojo
Decker (50%)
Jacobs Ranch
Spring Creek
Antelope, Spring Creek, Decker and Cordero acquired in 1993, Colowyo in 1995, Caballo Rojo in 1997, Jacobs Ranch in 1998 and West Antelope in 2004
Open cut
Supplied by
IPPs and Cooperatives through national grid service
Rio Tinto Coal Australia
Bengalla (30%)
Blair Athol (71%)
Hail Creek (82%)
Hunter Valley Ops. (76%)
Kestrel (80%)
Mount Thorley Ops. (61%)
Tarong Coal
Warkworth (42%)
Lemington acquired late 2000 and integrated with Hunter Valley Operations. Peabody Australian interests acquired in 2001. Production started for export at Blair Athol and adjacent power station at Tarong in 1984. Kestrel acquired and recommissioned 1999. Hail Creek started 2003.
Open cut and underground (Kestrel)
State owned grid
Rössing Uranium
(69%)
Production began in 1978. Life of mine extension to 2016 approved in 2005
Open pit
Namibian National Power
INDUSTRIAL MINERALS
Boron
Deposit discovered in 1925, acquired by Rio Tinto in 1967
Open pit
On site co-generation units
Dampier Salt
(65%)
Construction of the Dampier field started in 1969; first shipment in 1972. Lake MacLeod was acquired in 1978 as an operating field
Solar evaporation of seawater (Dampier and Port Hedland) and underground brine (Lake MacLeod); dredging of gypsum from surface of Lake MacLeod
Dampier supply from Hamersley Iron Power; Lake MacLeod from Western Power and on site generation units; Port Hedland from Western Power
Luzenac
Production started in 1885; acquired in 1988. (Australian mine acquired in 2001)
Open pit
Supplied by EdF and on site generation units
QIT-Fer et Titane
Production started 1950; interest acquired in 1989
Open pit
Long term contract with Quebec Hydro
Richards Bay Minerals
(50%)
Production started 1977; interest acquired 1989; fifth dredge commissioned 2000
Beach sand dredging
Contract with ESCOM
IRON ORE
Hamersley Iron
Brockman
Marandoo
Mount Tom Price
Paraburdoo
Yandicoogina
Channar (60%)
Eastern Range (54%)
Annual capacity increased to 68 million tonnes during 1990s; Yandicoogina first ore shipped in 1999 and port capacity increased; Eastern Range mine started 2004
Open pits
Supplied through the integrated Hamersley and Robe power network operated by Pilbara Iron
Iron Ore Company of
Canada
(59%)
Current operation began in 1962 and has processed over one billion tonnes of crude ore since; annual capacity now 17.5 million tonnes of concentrate of which 13.5 million tonnes can be pelletised. Interest acquired in 2000 through North
Open pit
Supplied by Newfoundland Hydro under long term contract
Rio Tinto Brasil
Corumbá
Iron ore production started 1978; interest acquired in 1991
Open pit
Supplied by ENERSUL
Robe River Iron Associates
(53%)
Mesa J
West Angelas
First shipment in 1972; annual sales reached 30 million tonnes in late 1990s; interest acquired in 2000 through North; West Angelas first ore shipped in 2002 and mine expanded in 2005
Open pit
Supplied through the integrated Hamersley and Robe power network operated by Pilbara Iron
Rio
        Tinto 2005
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        20-F
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INFORMATION
  ON GROUP SMELTERS, REFINERIES AND PROCESSING PLANTS
(Rio
  Tinto interest 100 per cent unless otherwise shown)
Smelter,
      refinery or
plant
Location
Title/lease
Plant
      type/product
Capacity
ALUMINIUM
      GROUP
Anglesey
      Aluminium
(51
%)
Holyhead,
      Anglesey,
Wales
100%
      Freehold
Aluminium
      smelter
producing
      aluminium
billet,
      block, sow
145,000
      tonnes per
year
      aluminium
Bell
      Bay
Bell
      Bay, Northern
Tasmania,
Australia
100%
      Freehold
Aluminium
      smelter
producing
      aluminium
ingot,
      block, t-bar
174,000
      tonnes per
year
      aluminium
Boyne
      Smelters
(59
%)
Boyne
      Island,
Queensland,
Australia
100%
      Freehold
Aluminium
      smelter
producing
      aluminium
ingot,
      billet, t-bar
545,000
      tonnes per
year
      aluminium
Comalco
      Alumina
Refinery
Gladstone,
      Queensland,
Australia
97%
      Freehold 3%
Leasehold
      (expiring in
2101
      and after)
Refinery
      producing
alumina
1,400,000
      tonnes per
year
      alumina
Eurallumina
(56%)
Portoscuso,
      Sardinia,
Italy
39%
      Freehold
61%
      Leasehold
Refinery
      producing
alumina
1,070,000
      tonnes per
year
      alumina
Gladstone
      Power
Station
(42%)
Gladstone,
      Queensland,
Australia
100%
      Freehold
Thermal
      power station
1,680
      megawatts
New
      Zealand
Aluminium
      Smelters
(NZAS)
(79%)
Tiwai
      Point, Southland,
New
      Zealand
19.6%
      Freehold
80.4%
      Leasehold
(expiring
      in 2029 and
use
      of certain Crown
land)
Aluminium
      smelter
producing
      aluminium
ingot,
      billet, t-bar
352,000
      tonnes per
year
      aluminium
Queensland
      Alumina
(39
%)
Gladstone,
      Queensland,
Australia
73.3%
      Freehold
26.7%
      Leasehold (of
which
      more than 80%
expires
      in 2026 and
after)
Refinery
      producing
alumina
3,953,000
      tonnes per
year
      alumina
COPPER
      GROUP
Kennecott
      Utah
Copper
Magna,
Salt Lake
      City,
Utah,
      US
100%
      Freehold
Flash
      smelting furnace
/
      Flash convertor
furnace
      copper
refinery
335,000
      tonnes per
year
      refined copper
Palabora
(47%)
Phalaborwa,
South
      Africa
100%
      Freehold
Reverberatory
      Pierce
Smith
      copper refinery
130,000
      tonnes per
year
      refined copper
INDUSTRIAL
      MINERALS
Boron
California,
      US
100%
      Freehold
Borates
      refinery
584,000
      tonnes per
year
      boric oxide
QIT-Fer
      et Titane
Sorel
      Plant
Sorel-Tracy,
Quebec,
Canada
100%
      Freehold
Ilmenite
      smelter
1,100,000
      tonnes per
year
      titanium dioxide
slag
900,000
      tonnes per
year
      iron
Richards
      Bay
Minerals
(50%)
Richards
      Bay,
South
      Africa
100%
      Freehold
Ilmenite
      smelter
1,060,000
      tonnes per
year
      titanium dioxide slag
IRON
      ORE GROUP
Hlsmelt
®
(60%)
Kwinana,
Western
      Australia
100%
      Leasehold
(expiring
      in 2010 with
rights
      of renewal for
two
      further 25 year
terms)
Hlsmelt
®
ironmaking
plant
      producing pig
iron
800,000
      tonnes per
year
      pig iron
IOC
      Pellet Plant
(59
%)
Labrador
      City,
Newfoundland,
      Canada
100%
      Leaseholds
(expiring
      in 2020,
2022
      and 2025 with
rights
      of renewal for
further
      terms of 30
years)
Pellet
      induration
furnaces
      producing
multiple
      iron ore pellet
types
13,500,000
      tonnes per
year
      pellet
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      20-F
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Item
      4A.
Unresolved
      Staff Comments
As far as
  Rio Tinto is aware there are no unresolved written comments from the SEC staff
  regarding its periodic reports under the Exchange Act received more than 180
  days before 31 December 2005.
Item
      5.
Operating
      and Financial Review and Prospects
This
        Item includes a discussion of the main factors affecting the Group's "Profit
        for the year", as measured in accordance with International Financial
        Reporting Standards as adopted by the European Union (EU IFRS). In monitoring
        its financial performance, the Group also focuses on that part of the
        Profit for the year attributable to equity shareholders of Rio Tinto,
        which is referred to as "Net earnings", and on an additional
        measure called "Underlying earnings". The latter measure, which
        is also based on the amounts attributable to Rio Tinto shareholders,
        is reported to provide greater understanding of the underlying business
        performance of Rio Tinto operations. This is defined and reconciled with
        Net earnings in Note 2 to the 2005 Financial statements.
Significant
movements in the items excluded from Underlying earnings are discussed on pages
40 to 41.
In
this report, the turnover of the parent companies and their subsidiaries is referred
to as "Consolidated turnover". Rio Tinto also reports a turnover measure
that includes its share of jointly controlled entities and associates, which
is referred to as "Gross turnover". This latter measure is considered informative
because a significant part of the Group's business is conducted through operations
that are subject to equity accounting.
This
    Item is comprised of the following:
•
Chairman's
    letter providing a high level review of the Group
•
Chief
      executive's report providing a high level review of the Group's
    operations
•
Financial
    review of the Group
•
Operating
    reviews for each of the principal product groups and global support groups
As
        a result of adopting IAS 32, IAS 39 and IFRS 5 on 1 January 2005, the
        Group changed its method of accounting for financial instruments and
        non-current assets held for sale. In line with the relevant transitional
        provisions, the prior period comparatives have not been re-stated. See
    Note 1 to the 2005 Financial statements for further discussion.
CHAIRMAN'S
LETTER
Dear
      shareholder
Demand
      was strong throughout 2005 for most of the metals and minerals we produce,
      and supply
    was generally tight. As a result prices of most products were well above the
      historical average trend. The buoyant conditions in our sector, together
      with
    Rio Tinto's strategic positioning and strong operating performance, resulted
  in a second successive year of record profits.
However,
  these favourable conditions are no basis for complacency. Our view of the world
  has not changed fundamentally. The reality is that we are in an inherently
  cyclical
  business – even if successive cycles have different characteristics. Our
  long term strategy for portfolio development, investment, capital management
  and operational excellence is designed to create shareholder value whatever
  the prevailing business conditions.
Results
Higher prices
  and increased production volumes in 2005 contributed to underlying earnings
  of US$4,955 million, US$2,683 million or 118 per cent above 2004. Net
  earnings were US$5,215 million compared with US$3,297 million in 2004.
Cash
  flow from operations at US$8,257 million, including dividends from jointly
  controlled entities and associates, was also a record, and 85 per cent higher
  than 2004.
  Timely disposal of non core assets further strengthened our balance sheet which,
  in turn, helps to underpin our extensive capital investment programme and gives
  us the flexibility to pursue investment opportunities when and where they arise.
  In 2005 we saw significant investments and developments in a number of new
  areas.
In the current
  environment of strong economic returns, we are aware of the potential for our
  balance sheet to become overly strong.
Reflecting
  our large cash flows, we announced a substantial return of capital to shareholders
  totalling US$4 billion as part of our capital management programme. This
  comprises a US$1.5 billion special dividend (equivalent to US$1.10 per
  share), and a share buy back programme totalling US$2.5 billion by the end
  of 2007. This replaces the US$500 million remaining from the 2005 programme.
The final dividend declared for 2005 under the
  progressive ordinary dividend policy brings total dividends for the year to
  80 US cents per share, an increase of four per cent from 2004.
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Sustainable
    development
Mining
    operates on long time horizons, and most of Rio Tinto's mines and processing
    plants have operational lives spanning decades. A key part of our strategy
    therefore is to make social and environmental responsibility integral to our
    planning and decision making. We always seek to align our interests with those
    of the communities and environments where our operations are based. Rio Tinto
    regards corporate social responsibility as a vital determinant of commercial
    success. Investors relate positively to companies who have values they can
    identify with and we remain committed to the principles of sustainable development.
We see
    a clear responsibility to help to address the challenges posed by climate
    change, to manage issues related to biodiversity, and to maintain effective
    product stewardship across the value chain of our products. I believe Rio
    Tinto has become a leader in our industry in these areas but we still have
    some way to go.
Board
    developments
1,2
In September
    we welcomed Sir Rod Eddington to the boards on his retirement as chief executive
    of British Airways plc. Rod is an Australian and was educated at the University
    of Western Australia and Oxford University where, as a Rhodes Scholar, he
    completed a doctorate in engineering science. He brings valuable new skills
    and experience to the board. Sir Richard Giordano, Leon Davis and John Morschel
    all retired from the boards after the 2005 annual meetings and Ashton Calvert
    and Vivienne Cox joined from 1 February 2005. I believe we have a very strong,
    well qualified and cohesive board which provides the right level of support
    and challenge to our executive team.
Forward
    outlook
Despite several
  challenges – including high oil prices, structural imbalances, and the
  potential for currency fluctuations – we believe the global economy will
  continue its recent positive trend, even if rates of growth slow somewhat.
We
  are continuing to experience strong short term demand for our metal and mineral
  products. Demand
  from China remains particularly strong but risks remain of occasional "speed
  bumps" as the country's social and economic structures adjust to
  the high rates of growth. Overall, we expect supply/demand balances to remain
  tight
  in 2006 with prices continuing to track above the long term trend.
At some point
  the supply position will become more balanced and we will see a downturn in
  the cycle. While we are continuing to invest in increased production to provide
  long term supply assurance to our customers, and to maintain our market position,
  we focus on economically robust projects which we believe can deliver sustained
  profitability in varying market conditions.
We
  are increasingly seeking to leverage our global reach and scale by delivering
  operational excellence, sharing of best practice
  between our businesses, and adopting common business systems and processes
  across the Group. I am confident that the continuing efforts of the Group's talented
  and committed people all over the world will ensure we maintain a strong and
  competitive company, responsive to all opportunities which we believe can add
  value for our shareholders. The board is, once again, very appreciative of our
  employees' major contribution in 2005.
Paul
  Skinner
Chairman
24 February
  2006
Note
1.
Tom
      Albanese was appointed as an executive director on 7 March 2006. He will
      remain chief executive of the Copper group and Exploration until 1 July
      2006 when he will be appointed director, Group Resources.
2.
Michael
      Fitzpatrick was appointed as a non executive director on 6 June 2006.
CHIEF EXECUTIVE'S REPORT
The 2005 results were excellent. The mining industry is experiencing strong prices across most of its products. We were able to capitalise on the upswing with a strong operating
  performance that maximised production, while at the same time improving our safety record. We approved a number of major projects and concluded a number of well executed transactions. We are also introducing structural business improvements in the
  Group that are expected to yield long term benefits and position us for continuing strong performance when markets are not as buoyant.
Performance
As China's
    industrial output soars and more than a billion people participate in a transformation
    of their living standards, the demand for the metals and minerals we produce
    has increased rapidly. Besides China's large share of world growth, economic
    conditions were also stronger in Japan and the US.
The level
    of demand sent the prices for copper, molybdenum, iron ore, coking and thermal
    coal, and alumina to historic peaks in nominal terms. Only time will tell
    whether the 2005 prices for these commodities represent cyclical highs. For
    its part, Rio Tinto concentrated on operational delivery, and we achieved
    record output in many areas.
As
    a result, all product groups except Industrial Minerals increased their underlying
    earnings.
    Higher costs reduced earnings by US$598 million.
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In the current
  environment some cost increases are inevitable. Other costs are, in fact, desirable
  and make good business sense, such as increased exploration and project evaluation
  spending.
Our business
    is cyclical. The increase in demand and consumption with the resultant rise
    in prices, provides an incentive for the industry to invest. This can lead
    to oversupply and some product substitution, which ultimately depresses prices.
    This effect produces "spikes" in the chart, above and below the
    average long term price trend. Rio Tinto aims to operate successfully and
    create value in all environments.
How long
    the current strong price environment remains depends on how rapidly the industry
    is able to respond to the strong demand for most products. The response will
    differ from product to product.
So far this
    response has been varied. In iron ore, major producers including Rio Tinto
    are responding to demand through increased investment. In copper, the response
    has been impacted by significant interruptions in supply. In aluminium, in
    spite of strong demand growth, a period of strong investment in China has
    meant demand has been satisfied for the metal itself, although alumina is
    in short supply and prices have risen significantly. Finally, in both coking
    and thermal coal, there has been some response but infrastructure has been
    a constraining factor.
Current market
    conditions may result in a longer period of above average prices than we have
    seen before. In fact Rio Tinto has modestly increased its long term price
    forecasts for some products for planning and investment purposes.
While the
    cycle may be longer, there has been a significant impact on costs. Most mining
    inputs such as energy, supplies, equipment and labour have become more costly
    and in short supply. In energy, we paid 40 per cent more for fuel and 50 per
    cent more for natural gas in the US. Lead times to procure heavy mining equipment
    have risen from six to 12 months. Heavy mobile equipment tyres are in very
    short supply. Thanks to our established purchasing networks we have been able
    to secure supplies better than most.
Some specialist
    skills are also short and labour costs in a number of regions have risen significantly.
    The cost of oil and gas is unlikely to return to the prices prevailing previously.
    These factors may represent a structural increase in costs for our industry,
    but we constantly look for ways to use energy more efficiently and improve
    productivity across all our operations.
Rio Tinto
    has a long track record of creating value through business improvement. A
    global approach to procurement has resulted in savings from purchases under
    Group wide contracts, while the establishment of Rio Tinto Shipping to leverage
    the scale of our bulk shipments has successfully reduced costs. On the operating
    side, the concept of combining business units in common geographic areas such
    as Rio Tinto Coal Australia and Pilbara Iron has led to cost effective rationalisation.
We are currently
    entering the next phase in the evolution of business improvement. Our model
    of decentralised businesses with strong local management accountability has
    been a source of success. By making the most of our global scale and reach,
    we now want to ensure we maximise the sum of our parts.
This means
    leveraging synergies across all our businesses through greater collaboration
    and the standardisation of successful operating practices. The use of improved
    information technology is part of the process. We are still in the early stages
    of this journey, but we are confident it will deliver considerable value.
Improving performance together
,
    as we call our programme, will create value through a combination of capital
    efficiency, higher volumes, higher revenues and improved productivity leading
    to lower costs. This goes to the core of our business, which is about first
    class operational delivery. We are developing a real sense of excitement about
    the scale, ambition and potential of the changes we have set in motion (see
    page 73).
Strategy
We focus
    on long life, low cost assets. These assets are expected to generate very
    strong cash flows when markets are buoyant. Just as importantly, they are
    also expected to deliver good returns when markets are weaker. Large world
    class orebodies give us options to expand capacity in line with demand, as
    we are doing today. Options can also be created by acquisition, especially
    where synergies exist.
This was
    demonstrated in our Iron Ore group by the development of West Angelas following
    the acquisition of North Ltd in 2000, and the 2005 agreement to form a joint
    venture involving Hope Downs. The Hope Downs iron ore property in Western
    Australia is also a good illustration of our ability to evaluate and execute
    a value creating transaction quickly.
Although
    the bulk of our operations are in Australia, the US and Canada, we have invested
    in many new frontier regions and will continue to do so. Our exploration
    programme
    is very broad, but wherever we conduct development, our projects will be
    subject to the same rigorous evaluation. Our approach is focused and measured – we
    are risk aware, but not risk averse.
We are
    investing in Madagascar, we are evaluating exciting projects in West Africa
    (iron ore) and Argentina (potash by solution mining) and we have entered into
    a significant joint venture in Russia with Norilsk Nickel. There are advanced
    exploration projects in progress in Australia (iron ore), India (diamonds),
    Indonesia (nickel), Brazil (bauxite), South Africa (coal) and Turkey (copper).
Our
exploration portfolio is currently the best we have seen. We have a suite of
projects and prospects with the potential to ensure we can maintain our growth
profile. They provide a variety of new development options in all of our main
product sectors over the next five years, many of which could become long life,
quality assets – the hallmark of Rio Tinto.
In
2005 we invested US$2.5 billion in the growth of the business and expect to spend an additional US$3
billion in both 2006 and 2007. We are demonstrating that in these times of buoyant
demand Rio Tinto has the best
Rio
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opportunities for organic growth in its history, based on the number and scale of current and potential projects in our pipeline.
Reflecting
strong demand and our excellent resource position, we are making significant
    investments in iron ore. At the beginning of 2005 we had investment of US$1.3
    billion already under way for the expansion of production and transportation
    capacity in the Pilbara. In April we committed another US$290 million
    to expanding three mines, followed in October by a further US$1.35 billion
    for additional port capacity and further mine expansions.
In Industrial
    Minerals, in the first half of the year we completed an expansion of the upgraded
    titanium slag plant at QIT in Canada. Due to strong demand, we announced a
    further expansion to 375,000 tonnes per year which will be completed in 2006.
The
resource relating to our investment in Madagascar will support a 40 year mine
life. Titanium dioxide feedstock reserves are more than 12 millon tonnes. At
an ilmenite grade of 60 per cent, this represents the best undeveloped resource
of this scale and quality. We are investing US$775 million of which US$585 million will be for the mine and port in Madagascar and US$190
million for upgrading related processing facilities in Canada. Production is
due to commence in late 2008.
Elsewhere,
the development of a new mine at Cortez Hills in Nevada, US was announced, and
the Diavik diamond mine in Canada closed off a second dike to permit mining of
additional orebodies. At year end we commenced development of an underground
mine at Argyle Diamonds at a cost of US$910 million and further expenditure to extend the life of mine at Rössing
Uranium in Namibia to 2016.
After
taking a leading position in the financing and development of the Lihir gold
mine in Papua New Guinea in the 1990s, we agreed with Lihir Gold in September
to relinquish our management agreement and subsequently sold our 14.5 per cent
interest in November for US$295 million.
Summing
    up
The Group
    is performing well operationally, maximising the volumes of product we deliver
    into strong markets. These markets continue to look strong well into 2006.
Whilst alert to merger and acquisition opportunities we are delivering our current projects and have an excellent array of organic growth options.
Notwithstanding our record levels of investment and return of capital to shareholders, we are generating cash that is surplus to our needs, enabling us
to manage and maintain a strong balance sheet and retain our capacity to take advantage of opportunities as they arise.
In this buoyant climate we remain focused on business improvement as a priority by implementing a major new programme of renewal that will create value
for shareholders in the future no matter what market conditions we face.
Rio
Tinto's success is a tribute to the dedication and commitment of our employees.
I thank my management team and employees throughout the world for the hard work
they have put in and for their continued support.
Leigh
  Clifford
Chief
  executive
24 February
  2006
FINANCIAL
REVIEW
Financial
    risk management
The Group's policies with regard to risk management are clearly defined and consistently applied. They are a fundamental tenet of the Group's
    long term strategy.
The
Group's business is mining and not trading. The Group only sells commodities
it has produced. In the long term, natural hedges operate in a number of ways
to help protect and stabilise earnings and cash flow, obviating the need to use
derivatives or other forms of synthetic hedging for this purpose. Such hedging
is therefore undertaken to a strictly limited degree, as described
below.
The
Group has a diverse portfolio of commodities and markets, which have varying
responses
  to the economic cycle.
The
relationship between commodity prices and the currencies of most of the countries
in which the Group operates provides further natural protection in the long term.
In addition, the Group's policy of borrowing at floating US dollar interest
rates helps to counteract the effect of economic and commodity price cycles.
The
Group's 2005 Financial statements and disclosures show the full extent of its financial commitments including debt. The Group's
share of
the net debt of jointly controlled entities and associates is also disclosed.
The risk factors to which the Group is subject that are thought to be of particular importance are summarised on pages 7 to 8.
The
effectiveness of internal control procedures continues to be a high priority
in the Rio Tinto Group. The Boards' statement on internal control
is included under Corporate governance on page 117.
The
Group's policies with regard to currencies, commodities, interest rates
and treasury management are discussed below.
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Underlying
    earnings
Rio
        Tinto presents "Underlying earnings" as an additional measure
        of earnings to provide greater understanding of the underlying business
        performance of its operations. Underlying earnings and net earnings both
        represent amounts attributable to Rio Tinto shareholders. Items (a) to
    (f) below are excluded from net earnings in arriving at underlying earnings.
(a)
Gains
      and losses relating to the disposal of interests in businesses (including
      investments) and undeveloped properties.
(b)
Charges
      and credits relating to impairment of non-current assets, excluding those
      related to current year exploration expenditure.
(c)
Exchange
      gains and losses on US dollar net debt and intragroup balances.
(d)
Valuation
      changes on currency and interest rate derivatives which are ineligible for
      hedge accounting, other than those embedded in commercial contracts.
(e)
The
      currency revaluation of embedded US dollar derivatives contained in contracts
      held by entities whose functional currency is not the US dollar.
(f)
Other
      credits and charges that individually, or in aggregate if of a similar type,
      are of a nature or size to require exclusion in order to provide additional
      insight into underlying business performance.
Earnings
        contributions from Group businesses and business segments reflect underlying
        earnings. Underlying earnings is reconciled with net earnings in Note
        2 to the 2005 Financial
statements.
Group operating results 2005 compared with 2004
EU IFRS requires that the profit for the period reported in the income statement should also include earnings attributable to outside shareholders in subsidiaries. Both net earnings
and underlying earnings, which are also discussed in this report, deal with amounts attributable to equity shareholders of Rio Tinto as shown below.
2005
2004
US$m
US$m
Profit
      for the year
5,498
3,244
–
      attributable to outside equity shareholders
283
(53
)
–
      attributable to equity shareholders of Rio Tinto (net earnings)
5,215
3,297
Amounts attributable to outside equity shareholders increased because of improved results at Robe, Iron Ore Company of Canada, Coal & Allied, Rio Tinto Iron & Titanium and
Palabora. In addition, in 2004 outside equity shareholders' interests reflected a US$129 million charge for impairments.
Net
earnings of US$5,215 million in 2005 were US$1,918 million above 2004. Underlying earnings of US$4,955 million were US$2,683
million above 2004. The principal factors explaining the changes in net earnings
are shown in the table below.
US$ m
2004 Net earnings
3,297
Exclusions in arriving at Underlying earnings
(1,025
)
2004 Underlying earnings
2,272
Effect of changes in:
Prices
2,374
Exchange rates
(123
)
Inflation
(141
)
Volumes
1,140
Costs
(598
)
Other
31
2005 Underlying earnings
4,955
Add: Exclusions in arriving at Underlying earnings
260
2005 Net earnings
5,215
The effect of price movements on all major commodities was to increase earnings by US$2,374 million. Prices for the major products remained strong throughout the year and were
appreciably higher than those experienced in 2004: average copper prices were 28 per cent higher whilst average aluminium prices were ten per cent higher. The strength of the global iron ore market was reflected in the 71.5 per cent increase in the
benchmark price, mainly effective from 1 April 2005. The seaborne thermal and coking coal markets were also strong.
Molybdenum
prices, which have generally been below US$5 per pound over the last decade, averaged over US$30
per pound during 2005, although they did soften towards the end of the year.
How long the current strong price environment remains depends on how rapidly
the industry is able to respond to the strong demand for most products. The response
will change significantly from product to
product.
The
US dollar was generally weaker than in 2004 relative to the currencies in which
the Group incurs the majority of its costs. The average levels of the Australian
and Canadian dollars strengthened against the US dollar by four per cent and
eight per cent, respectively. The effect of this, together with other currency
movements, was to reduce underlying earnings relative to 2004 by US$123
million.
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Over 40 per cent of the underlying earnings increase year on year came from higher sales volumes, resulting in a favourable variance of US$1,140
million compared with 2004. The West Angelas and Yandicoogina (to 36 million tonnes per annum) mine expansions were completed in 2005 whilst strong operational performance led to major production gains at many operations including Iron Ore Company
of Canada and Argyle Diamonds. The improvement over 2004 also reflected the following adverse influences on that earlier year: the Grasberg slippage, the ten week strike at Iron Ore Company of Canada and the effects of Hurricane Monty at Hamersley
and Robe. To take advantage of the strong market for molybdenum, the mine sequencing at Kennecott Utah Copper was optimised to maximise molybdenum production. This, together with modifications to the molybdenum circuit at the concentrator, boosted
production volumes by 130 per cent.
Excluding the effects of inflation, higher costs reduced earnings by US$598 million. Of this, US$130 million was due to higher energy costs and
US$46 million was attributable to increased exploration expenditure from brownfield exploration and further evaluation work. More generally, costs were influenced by the strong price environment being enjoyed by the mining industry. This has led
to rising mining input costs caused by supply constraints for skilled labour, steel, tyres, explosives, freight and other mining related goods and services. Costs at Kennecott Utah Copper were affected by a scheduled 17 day smelter maintenance
shutdown in the first half of 2005 whilst continued port congestion at Dalrymple Bay, Queensland, fed through to higher demurrage charges.
Higher
non cash costs reflected increased depreciation at Kennecott Utah Copper following
the changes in the mine plan at the end of 2004. Increases in closure cost provisions
resulted in higher depreciation charges on the amounts capitalised. One-off costs
included restructuring costs of US$30 million relating to the formation of
the Rio Tinto Minerals organisation.
The effective tax rate on underlying earnings, including associates and jointly controlled entities, was 29.7 per cent compared with 28.7 per cent in
2004. The effective tax rate on net earnings, including associates and jointly controlled entities, was 28.3 per cent compared with 21.4 per cent in 2004. The lower effective tax rate on net earnings in both years primarily reflects disposals that
were not subject to tax.
In
total "Other items" improved by US$31 million. Within that total, the net after tax interest expense of US$44 million was US$25
million lower than in 2004 due to lower levels of net debt. Also within "Other items", 2004 underlying earnings included contributions totalling US$88
million from the operations of businesses that were sold during that year. Earnings
in 2005 benefited from an improvement in the net impact of insurance items, including
lower claims on the captive insurers due to the absence of cyclone related damages
experienced in 2004.
Exclusions in arriving at underlying earnings were as follows:
2005
2004
US$m
US$m
Net profit on the disposal of interests in businesses (including investments)
311
1,175
Net impairment reversals/(charges)
4
(321
)
Adjustment to environmental remediation provision
84
—
Exchange (losses)/gains on external net debt and intragroup balances (including
      those relating to jointly controlled entities and associates)
(99
)
159
(Losses)/gains on derivatives not qualifying as hedges (including those
      relating to jointly controlled entities and associates)
(40
)
12
Total excluded in arriving at underlying earnings
260
1,025
In 2005
    the net profit on the disposal of interests in businesses was US$311 million relating mainly to the sale of Rio Tinto's interests in the Labrador Iron Ore Royalty
Income Fund and in Lihir Gold. Disposals in 2004, principally the holding in Freeport-McMoRan Copper & Gold, resulted in gains of US$1,175
million.
Net
earnings in 2005 include a reduction of US$84 million in an environmental remediation provision at Kennecott Utah Copper, reversing part of an
exceptional charge taken up in 2002 (which was excluded from adjusted earnings in that year). In addition, there was a small reversal of an impairment provision for the Madagascar project following the decision to proceed with the development,
offset by a minor impairment of goodwill. Net earnings in 2004 included an impairment charge of US$160 million relating to the Colowyo coal operation and of US$161 million for the write down of Palabora's
copper assets.
Exchange
gains and losses on external net debt and intragroup balances that are recorded
in the US dollar income statement, together with gains and losses on currency
and interest rate derivative contracts that do not qualify as hedges under EU
IFRS, are excluded from underlying earnings. In 2005, these items represented
a loss of US$139 million (2004: a gain of US$171
million).
Cash flow
Cash
flow from operations, including dividends from jointly controlled entities and
associates, was a record US$8,257 million, 85 per cent higher than in 2004.
The increase was mainly due to increased profits. This was partly offset by an increased cash outflow on working capital in 2005 mainly reflecting higher
receivables across all product groups due to higher metal prices and sales volumes.
Cash
flow of US$323 million from disposals of interests in businesses in 2005 primarily related to the sale of Lihir. In 2004, disposals generated
proceeds of over US$1.5 billion. The largest components of this were the
sale of
Rio
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shares in FCX and the sale of Rio Tinto's interest in the Morro do Ouro gold mine in Brazil.
The Group's investment in the growth of the business was sustained throughout the year. Purchase of property, plant and equipment and intangible
assets of US$2,552 million included the major port and rail infrastructure expansion in Western Australia, payments for coal reserves purchased by Rio Tinto Energy America, the expansion of Hail Creek coking coal and initial expenditure on the
construction of a new dike at Diavik.
During the year the Group repaid US$807 million of its gross outstanding debt and cash balances increased. Dividends paid in 2005 of US$1,141
million were US$235 million higher than dividends paid in 2004 following the 20 per cent increase in the dividend declared in respect of the previous year. A capital return programme was commenced under which an off market buy back of Rio Tinto
Limited shares was carried out, and subsequently an on market buy back of Rio Tinto plc shares. Almost two thirds of the US$1.5 billion capital management programme announced on 3 February 2005 had been completed by the end of January 2006. This programme has now been replaced by a new buy back programme totalling US$2.5 billion to be completed by the end
of 2007, subject to market conditions.
Balance sheet
The
balance sheet strengthened considerably during the period. Net debt reduced by
US$2,496 million to US$1,313 million. The ratio of net debt to total
capital fell to eight
per cent and interest cover strengthened to 59 times.
In
2005, net assets increased by US$3,148 million. The profit for the year was US$4,074 million greater than dividends paid. The share buy back
programme had reduced shareholders' equity by US$877 million by the
end of December 2005.
The
adoption of IAS 39 ("Financial Instruments: Recognition and Measurement") resulted in an increase of US$109
million in net assets on 1 January 2005, less than one per cent of the total.
This represents the net gain on marking to market of derivatives and investments
available for sale.
As
detailed in Notes 20 and 23 to the 2005 Financial statements, US$1,190 million (31 per cent) of the Group's borrowings at the end of 2005
will mature in 2006 and the net asset of US$54 million for related currency
and interest rate swaps will also mature in that year.
At
the year end, medium and long term borrowings totalled US$2,783 million and there was a net asset of US$234 million for related currency and
interest rate swaps. The amount issued under the Group's corporate bond and medium term notes programmes was US$2.5 billion net of related swaps, of which US$872
million is repayable within one year.
In
addition to the above, the Group's share of the third party net debt of jointly controlled entities and associates totalled US$536
million at 31 December 2005. This debt, which is set out in Note 16 to the 2005
Financial statements, is without recourse to the Rio Tinto Group.
Listed Company operating results
The economic interests of Rio Tinto plc and Rio Tinto Limited were merged in December 1995 as a result of the Dual Listed Companies ('DLC') merger. The DLC merger has the effect that
shareholders can be regarded as having interests in a single economic enterprise that is under common control and management. Accordingly the Operating and Financial Review and Prospects have been presented on a Group basis with the exception of the
separate discussion and analyses relating to the Rio Tinto plc and Rio Tinto Limited parts of the Group respectively provided below as a supplement to the discussion of the Rio Tinto Group set out above. However, shares in Rio Tinto plc and Rio
Tinto Limited both provide shareholders with an interest in the earnings and net assets of the total Group, as if they together were a single economic entity. In other words, a share in Rio Tinto plc provides an economic interest in the same
fraction of the combined earnings and net assets of the Group as a share in Rio Tinto Limited. The separate figures for the two parts of the Group provide analysis of the total Group according to its legal structure, but these separate figures are
not indicative of the economic interest of shareholders in either of the Listed Companies.
Rio
Tinto plc – part of Rio Tinto Group
Operating results 2005 compared with 2004
2005
2004
US$m
US$m
Profit
      for the year
3,651
2,336
– attributable to outside equity shareholders
47
(108
)
–
excluding amounts attributable to outside equity shareholders (net earnings)
3,604
2,444
In 2004 outside equity shareholders' interests reflected a US$129 million charge for impairments. In addition, amounts attributable to outside equity shareholders increased
in 2005 because of improved results at Rio Tinto Iron & Titanium and Palabora.
Net
earnings of US$3,604 million were US$1,160 million above 2004. This included an increase of US$453 million in Rio Tinto plc's share
of the net earnings of Rio Tinto Limited. Underlying earnings of US$3,268 million were US$1,659 million above 2004. This included an increase of US$613 million in Rio Tinto plc's share of the Underlying earnings of Rio Tinto
Limited. The principal factors explaining the changes in net earnings of Rio Tinto plc are shown in the table below. Changes in Rio Tinto Limited's
net earnings are discussed on page 45.
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US$m
2004 Net earnings of Rio Tinto plc (including share of Rio Tinto Limited)
2,444
Deduct: Exclusions in arriving at 2004 Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited)
(835
)
Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited) for 2004
1,609
Effect of changes in Rio Tinto plc earnings (
excluding
share of Rio Tinto Limited)
Prices
779
Exchange rates
(56
)
Inflation
(65
)
Volumes
751
Costs
(397
)
Other
34
Increase in Rio Tinto plc's share of Rio Tinto Limited Underlying earnings
613
Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited) for 2005
3,268
Add: Exclusions in arriving at 2005 Underlying earnings of Rio Tinto plc (including share of Rio Tinto Limited)
336
2005 Net earnings of Rio Tinto plc (including share of Rio Tinto Limited)
3,604
The discussion below explains the factors underlying the change in Rio Tinto plc earnings excluding its share of Rio Tinto Limited.
The
    effect of price movements on all major commodities was to increase earnings
    by US$779 million. Prices for the major products remained strong
throughout the year and were appreciably higher than those experienced in 2004: average copper prices were 28 per cent higher. Molybdenum prices have generally been below US$5 per pound over the last decade but averaged over US$30
per pound
during 2005, although they did soften towards the end of the year.
The
US dollar was generally weaker than in 2004 relative to the currencies in which
the Group incurs the majority of its costs. The average level of the Canadian
dollar strengthened against the US dollar by eight per cent. The effect of this,
together with other currency movements, was to reduce underlying earnings relative
to 2004 by US$56 million.
Almost
72 per cent of the underlying earnings increase year on year came from higher
sales volumes, resulting in a favourable variance of US$751
million compared with 2004. To take advantage of the strong market for molybdenum,
the mine sequencing at Kennecott Utah Copper was optimised to maximise molybdenum
production. This, together with modifications to the molybdenum circuit at the
concentrator, boosted production volumes by 130 per cent. The improvement over
2004 also reflected the adverse effect of the Grasberg slippage on that earlier
year.
Excluding
the effects of inflation, higher costs reduced earnings by US$397 million. Of this, US$72 million was due to higher energy costs and
US$41 million was attributable to increased exploration expenditure from
brownfield exploration and further evaluation work. More generally, costs were
influenced by the strong price environment being enjoyed by the mining industry.
This has led to rising mining input costs caused by supply constraints for skilled
labour, steel, tyres, explosives, freight and other mining related goods and
services. Costs at Kennecott Utah Copper were affected by a scheduled 17 day
smelter maintenance
shutdown in the first half of 2005.
Higher
non cash costs reflected increased depreciation at Utah Copper following the
changes in the mine plan at the end of 2004. Increases in closure cost provisions
resulted in higher depreciation charges on the amounts capitalised. One-off costs
reflected restructuring costs of US$30 million relating to the formation
of the Rio Tinto Minerals organisation.
"Other items" improved by US$34 million. Within that total, the net after tax interest income of US$62 million was US$40 million
higher than in 2004 due to lower levels of net debt and interest from increased funding of Rio Tinto Limited. Also within 'Other items', 2004 underlying earnings included contributions totalling US$73
million from the operations of businesses that were sold during that year. 2005
earnings benefited from an improvement in the net impact of insurance items,
including lower claims on the captive insurer due to the absence of cyclone related
damages experienced in 2004.
The
effective tax rate on underlying earnings, including Rio Tinto plc's share
of Rio Tinto Limited and other associates and jointly controlled entities, was
29.4 per cent compared with 28.1 per cent in 2004. The effective tax rate on
net earnings, including associates and jointly controlled entities was 27.6 per
cent compared with 19.2 per cent in 2004. The lower effective tax rate on net
earnings in both years primarily reflected gains on disposals that did not give
rise to a tax liability.
Exclusions
in arriving at underlying earnings, including Rio Tinto plc's share of those
relating to Rio Tinto Limited, were as follows:
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2005
2004
US$m
US$m
Net profit on the disposal of interests in businesses (including investments)
288
1,037
Net impairment reversals/(charges)
4
(321
)
Adjustment to environmental remediation provision
84
—
Exchange gains on external net debt and intragroup balances (including those
      relating to jointly
controlled
      entities and associates)
39
14
Losses
      on derivatives not qualifying as hedges (including those relating to jointly
      controlled entities
and
      associates)
(34
)
(10
)
Share of Rio Tinto Limited exclusions in arriving at underlying earnings
(45
)
115
Total excluded in arriving at underlying earnings
336
835
In
        2005 the net profit on the disposal of interests in businesses was US$288 million
    relating mainly to the sale of Rio Tinto plc's interests in the Labrador
    Iron Ore Royalty Income Fund and in Lihir Gold. Disposals in 2004, principally
    the holding in Freeport-McMoRan Copper & Gold, resulted in gains of US$1,037
    million.
2005
    net earnings include a reduction of US$84 million in an environmental remediation provision at Kennecott Utah Copper, reversing part of an
exceptional charge taken up in 2002 (which was excluded from adjusted earnings in that year). In addition, there was a small reversal of an impairment provision for the Madagascar project following the decision to proceed with the development,
offset by a minor impairment of goodwill. Net earnings in 2004 included an impairment charge of US$160 million relating to the Colowyo coal operation and of US$161 million for the write down of Palabora's
copper assets.
Exchange
gains and losses on external net debt and intragroup balances that are recorded
in the US dollar income statement, together with gains and losses on currency
and interest rate derivative contracts that do not qualify as hedges under EU
IFRS, are excluded from underlying earnings. In 2005, these items represented
a gain of US$5 million (2004: a gain of US$4 million).
Cash flow
Cash
flow from operations, including dividends from jointly controlled entities and
associates, was US$3,546 million, 93 per cent higher than in 2004. The increase
was mainly due
to increased profits.
Cash
flow of US$320 million from disposals of interests in businesses in 2005 primarily related to the sale of Lihir. In 2004, disposals generated
proceeds of over US$1.3 billion. The largest components of this were the sale of shares in FCX and the sale of Rio Tinto's
interest in the Morro do Ouro gold mine in Brazil.
Proceeds
of US$458 million arose from the buyback by Rio Tinto Limited of 16,367,000
of its shares from a Rio Tinto plc subsidiary.
Investment
in the growth of the business was sustained throughout the year. Purchase of
property, plant and equipment and intangible assets of US$824
million included payments for coal reserves purchased by Rio Tinto Energy America
and initial expenditure on the construction of a new dike at Diavik.
Loans
of US$950 million were advanced to Rio Tinto Limited compared to US$1,271 million in 2004 and there were net proceeds from external loans
of US$57 million against net payments of US$421 million in 2004.
Balance sheet
The
balance sheet strengthened considerably during the period and net assets increased
by US$2,615 million. The profit for the year was US$2,714 million greater than dividends
paid. By the end of 2005 the share buyback programme had reduced shareholders' equity by US$103
million.
External
net debt reduced by US$1,080 million to US$584 million and loans to Rio Tinto Limited increased by US$1,430 million to US$3,388
million. Included in this increase is a reclassification of US$500 million of preference share capital issued by a subsidiary of Rio Tinto Limited to a subsidiary of Rio Tinto plc from "investments in associates" to "loans to Rio
Tinto Limited". This reclassification took place with effect from 1 January 2005 on adoption of IAS 32 "Financial Instruments: Disclosure and Presentation".
The
adoption of IAS 39 resulted in an increase of US$72 million in net assets
on 1 January 2005, less than one per cent of the total. This represents the net
gain on marking to market of derivatives and investments available for sale.
As
detailed in Notes 23 and 20 to the 2005 Financial statements, US$565 million (27 per cent) of the Rio Tinto plc part of the Group's
borrowings at the end of 2005 will mature in 2006 and the net asset of US$53
million for related currency and interest rate swaps will also mature in that
year.
At
the year end, medium and long term borrowings totalled US$1,539 million and there was a net asset of US$254
million for related currency and
interest rate swaps.
In
addition to the above, the Rio Tinto plc part of the Group's share of the third party net debt of jointly controlled entities and associates
excluding Rio Tinto Limited totalled US$362 million at 31 December 2005.
This debt, which is set out in note 16 to the 2005 Financial statements, is without
recourse to the Rio Tinto Group.
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Rio
Tinto Limited – part of Rio Tinto Group
Operating
results 2005 compared with 2004
2005
2004
US$m
US$m
Profit for the year
2,812
1,446
– attributable to outside equity shareholders
236
81
– excluding amounts attributable to outside equity shareholders (net earnings)
2,576
1,365
Amounts attributable to outside equity shareholders increased because of improved results at Robe, the Iron Ore Company of Canada and Coal & Allied.
Net earnings of US$2,576 million were US$1,211 million above 2004. Underlying earnings of US$2,697 million were US$1,637 million above
2004. The principal factors explaining the changes in net earnings are shown in the table below.
US$m
2004 Net earnings
1,365
Exclusions in arriving at 2004 Underlying earnings
(305
)
2004 Underlying earnings
1,060
Effect of changes in:
Prices
1,595
Exchange rates
(67
)
Inflation
(76
)
Volumes
389
Costs
(201
)
Other
(3
)
2005 Underlying earnings
2,697
Add: Exclusions in arriving at 2005 Underlying earnings
(121
)
2005 Net earnings
2,576
The effect of price movements on all major commodities was to increase earnings by US$1,595 million. Prices for the major products remained strong throughout the year and were
appreciably higher than those experienced in 2004: average aluminium prices were ten per cent higher. The strength of the global iron ore market was reflected in the 71.5 per cent increase in the benchmark price, mainly effective from 1 April 2005.
The seaborne thermal and coking coal markets were also strong.
The US dollar was generally weaker than in 2004 relative to the currencies in which the Group incurs the majority of its costs. The average levels of the
Australian and Canadian dollars strengthened against the US dollar by four per cent and eight per cent, respectively. The effect of this, together with other currency movements, was to reduce underlying earnings relative to 2004 by US$67
million.
Higher sales volumes increased earnings by US$389 million compared with 2004. The West Angelas and Yandicoogina (to 36 million tonnes per annum) mine
expansions were completed in 2005, whilst strong operational performance led to major production gains at many operations including the Iron Ore Company of Canada and Argyle Diamonds. The improvement over 2004 also reflected the following adverse
influences on that earlier year: the ten week strike at the Iron Ore Company of Canada and the effects of Hurricane Monty at Hamersley and Robe.
Excluding the effects of inflation, higher costs reduced earnings by US$201 million. Of this, US$58 million was due to higher energy costs. More
generally, costs were influenced by the strong price environment being enjoyed by the mining industry. This has led to rising mining input costs caused by supply constraints for skilled labour, steel, tyres, explosives, freight and other mining
related goods and services. Continued port congestion at Dalrymple Bay, Queensland, fed through to higher demurrage charges. Increases in closure cost provisions resulted in higher depreciation charges on the amounts capitalised.
The effective tax rate on underlying earnings, including associates and jointly controlled entities, was 30.0 per cent compared with 28.9 per cent in
2004. The effective tax rate on net earnings, including associates and jointly controlled entities was 29.9 per cent compared with 26.0 per cent in 2004. The lower effective tax rate on net earnings in 2004 primarily reflected gains on disposals
that did not give rise to a tax liability.
In total "Other items" worsened by US$3 million. Within that total, the net after tax interest expense was higher than in 2004 with
interest payable on increased funding from Rio Tinto plc outweighing the effect of lower levels of external net debt. Also within 'Other items', 2004 underlying earnings included contributions totalling US$15 million from the
operations of businesses that were sold during that year. Against this there was a benefit from the net impact of insurance items and from tax relief on share option costs.
Rio
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Exclusions
in arriving at underlying earnings were as follows:
2005
2004
US$m
US$m
Net profit on the disposal of interests in businesses (including investments)
23
138
Exchange (losses)/gains on external net debt and intragroup balances (including those relating to
jointly controlled entities and associates)
(138
)
145
(Losses)/gains on derivatives not qualifying as hedges (including those related to jointly controlled
entities and associates)
(6
)
22
Total excluded in arriving at underlying earnings
(121
)
305
In 2005 the net profit on the disposal of interests in businesses was US$23 million including final adjustments in respect of the 2004 disposal of a ten per cent interest in Hail
Creek and Rio Tinto Limited's interest in Zinkgruvan. The disposal of these operations resulted in a gain of US$138 million in 2004.
Exchange gains and losses on external net debt and intragroup balances that are recorded in the US dollar income statement, together with gains and
losses on currency and interest rate derivative contracts that do not qualify as hedges under EU IFRS, are excluded from underlying earnings. In 2005, these items represented a loss of US$144 million (2004: a gain of US$167
million).
Cash flow
Cash flow from operations, including dividends from jointly controlled entities and associates, was US$4,861 million, 76 per cent higher than in 2004.
The increase was mainly due to increased profits. This was partly offset by an increased cash outflow on working capital in 2005 mainly reflecting
higher receivables due to higher metal prices and sales volumes.
Rio Tinto Limited's investment in the growth of the business was sustained throughout the year. Purchase of property, plant and equipment and
intangible assets of US$1,728 million included the major port and rail infrastructure expansion in Western Australia and the expansion of Hail Creek coking coal.
During the year, funding of US$950 million was received from Rio Tinto plc. Rio Tinto Limited repaid US$713 million of its gross outstanding debt
and cash balances increased significantly. A capital return programme was commenced under which an off-market buy back of Rio Tinto Limited shares was carried out which resulted in a cash outflow of US$774 million in respect of purchases from
public shareholders and a cash outflow of US$458 million in respect of purchases from Rio Tinto plc.
Balance sheet
In 2005, net assets increased by US$289 million. The profit for the year was US$2,175 million greater than dividends paid, however this was largely offset by the effect of
share buybacks, the implementation of IAS 32 ("Financial Instruments: Disclosure and Presentation") and adverse currency translation movements. The share buyback programme, including the buyback from Rio Tinto plc, reduced
shareholders' equity by US$1,232 million by the end of December 2005. The adoption of IAS 32 and IAS 39 resulted in a net reduction of US$447 million in net assets on 1 January 2005. This represents the net gain on marking to market of
derivatives and investments available for sale, offset by the effect of reclassifying US$500 million of preference share capital held by a Rio Tinto plc subsidiary in a Rio Tinto Limited subsidiary from outside shareholders' interests to
debt.
External net debt reduced by US$1,416 million to US$729 million partly offset by an increase in amounts due to Rio Tinto plc of US$1,430
million to US$3,388 million. This includes the reclassification explained above of preference share capital of US$500 million from outside shareholders' interests to loans on adoption of IAS 32.
As detailed in note 23 to the 2005 Financial statements, US$625 million (33 per cent) of Rio Tinto Limited's external borrowings at the end of
2005 will mature in 2006. In addition, US$2,888 million of borrowings from Rio Tinto plc is held at call.
At the year end, external medium and long term borrowings totalled US$1,244 million and there was a net liability of US$20 million for related
currency and interest rate swaps.
In addition to the above, the Rio Tinto Limited part of the Group's share of the third party net debt of jointly controlled entities and associates
totalled US$174 million at 31 December 2005. This debt, which is set out in Note 16 to the 2005 Financial statements, is without recourse to the Rio Tinto Group.
Liquidity and capital resources
The unified credit status of the Group is maintained through cross guarantees whereby contractual obligations of Rio Tinto plc and Rio Tinto Limited are automatically guaranteed by
the other. Rio Tinto plc and Rio Tinto Limited enjoy strong long and short term credit ratings from Moody's and Standard and Poor's. These ratings continue to provide financial flexibility and consistent access to debt via money or capital
markets and enable very competitive terms to be obtained.
The Group maintains backup liquidity for debt maturing within 12 months and its commercial paper programmes by way of bank standby credit facilities,
which totalled US$2.3 billion at 31 December 2005. These facilities, which were unused at the year end, can be drawn upon at any time on terms extending out to five years.
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As at 31
    December 2005, the Group had contractual cash obligations arising in the
ordinary course of business as follows:
Contractual cash obligations
Total
Less
Between
Between
After 5
than
    1
1
    and 3
3
    and 5
year
years
years
years
US$m
US$m
US$m
US$m
US$m
Debt (a)
3,697
1,148
1,707
162
680
Operating leases
113
28
31
23
31
Unconditional purchase obligations (b)
3,982
965
1,263
740
1,014
Deferred consideration (c)
179
97
54
28
—
Other (d)
1,322
1,159
130
33
—
Total
9,293
3,397
3,185
986
1,725
Notes
(a)
Debt obligations include bank borrowings repayable on demand and reflect the impact of related currency and interest rate swaps.
(b)
Unconditional
      purchase obligations relate to commitments to make payments in the future
      for fixed or minimum quantities of goods or services at fixed or minimum
      prices. The future payment commitments have not been discounted and mainly
      relate to commitments under
      relating to the Group's tolling arrangements.
(c)
Deferred consideration relates to the purchase of coal reserves by Rio Tinto Energy America.
(d)
Other relates primarily to capital commitments.
Information
  regarding the Group's pension commitments and funding arrangements is
  provided in the Post-retirement benefits section of this Financial review and
  in Notes 49 and 52
to the 2005 Financial Statements.
On
the basis of the levels of obligations described above, the unused capacity under
the Group's commercial paper and European Medium Term Notes
programmes, the Group's anticipated ability to access debt and equity capital
markets in the future and the level of anticipated free cash flow, there are
reasonable grounds to believe that the Group has sufficient short and long term
sources
of funding available to meet its liquidity requirements.
The
Group's committed bank standby facilities contain no financial undertakings relating to interest cover. The Group has no financial agreements
that would be affected to any material extent by a reduction in the Group's
credit rating.
The
Group's policy is to centralise debt and surplus cash balances whenever
possible.
Off balance sheet arrangements
In the ordinary
course of business, to manage the Group's operations and financing, Rio
Tinto enters into certain arrangements, which for the purposes of Item 5 would
be
considered off balance sheet arrangements,
The
Rio Tinto Group's off balance
  sheet arrangements are comprised principally of performance guarantees and
commitments for capital and other expenditure.
The
aggregate amount of indemnities and other performance guarantees, on which no
material loss is expected, including those related to joint ventures and associates,
was US$513 million at 31 December 2005.
Other commitments include contracted capital expenditure, operating leases and unconditional purchase obligations as set out in the table of contractual
cash obligations, included in the liquidity and capital resources section above.
Exchange rates, reporting currencies and currency exposure
Rio Tinto's shareholder's equity, earnings and cash flows are influenced by a wide variety of currencies due to the geographic diversity of the Group's sales and the
countries in which it operates. The US dollar, however, is the currency in which the great majority of the Group's sales are denominated. Operating costs are influenced by the currencies of those countries where the Group's
mines and processing plants are located and also by those currencies in which
the costs of imported equipment and services are determined. The Australian and
Canadian dollars are the most important currencies influencing costs, apart from
the US
dollar.
In
any particular year, currency fluctuations may have a significant impact on Rio
Tinto's financial results. A weakening of the US dollar against
the currencies in which the Group's costs are determined has an adverse effect on Rio Tinto's
underlying earnings.
However,
this would also result in exchange gains on net debt denominated in US dollars
which has a positive effect on Rio Tinto's EU IFRS profit
and net earnings. It would also result in exchange gains and losses on intragroup
balances denominated in US dollars. Such gains (and losses) on US dollar net
debt and intragroup balances are excluded from underlying earnings.
The following sensitivities give the estimated effect on underlying earnings assuming that each exchange rate moved in isolation. The relationship
between currencies and commodity prices is a complex one and movements in exchange rates can cause movements in commodity prices and vice versa. Where the functional currency is that of a country for which production of commodities is an important
feature of the economy, such as the Australian dollar, there is a certain degree of natural protection against cyclical fluctuations in the long term, in that the currency tends to be weak, reducing costs in US dollar terms, when commodity prices
are low, and vice versa.
The exchange rate sensitivities quoted below include the effect on operating costs of movements in exchange rates but exclude the effect of the
revaluation of foreign currency working capital, US dollar net debt and intragroup balances. They should therefore be used with care.
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Average
2005
Effect
    of
exchange
10%
    change in
rate
    for
full
    year average
2005
+/-
    US$m
Australian dollar
76 US cents
242
Canadian dollar
83 US cents
58
Chilean peso
US$1= 561
pesos
7
Indonesian rupiah
US$1 = 9,708 rupiah
1
New Zealand dollar
71 US cents
6
South African rand
16 US cents
23
UK sterling
182 US cents
8
Other
n/a
6
The sensitivities in the 2005 column are based on 2005 prices, costs and volumes and assume that all other variables remain constant.
Gains and losses on exchange arising from net monetary assets/(liabilities), other than US dollar net debt and intragroup balances, that are not
denominated in the functional currency of the relevant business unit are recorded in the income statement and are included in underlying earnings. The table below reflects the amounts of assets less liabilities, net of tax and outside interests as
at the end of 2005, which expose the Group to such exchange gains and losses. These balances will not remain constant throughout 2006, however, and therefore these numbers should be used with care.
Currency
    of exposure
US dollar
Other
2005
US$m
US$m
US$m
Functional
    currency of business unit:
Australian dollar
368
(1
)
367
Canadian dollar
94
4
98
South African rand
21
5
26
Other currencies
71
—
71
Total
554
8
562
Given the dominant role of the US currency in the Group's affairs, the US dollar is the currency in which financial results are presented both internally and externally. It is
also the most appropriate currency for borrowing and holding surplus cash, although a portion of surplus cash may also be held in other currencies, most notably Australian dollars, in order to meet short term operational and capital commitments and
dividend payments.
The Group finances its operations primarily in US dollars, either directly or using currency swaps, and a substantial part of the Group's US dollar
debt is located in subsidiaries having functional currencies other than the US dollar. Exchange differences on the net debt which hedges the net assets of entities with functional currencies other than the US dollar are dealt with through equity.
All other exchange differences on net debt are dealt with in the income statement, but those related to US dollar net debt are excluded in arriving at underlying earnings. Similarly, exchange gains and losses which arise on balances between Group
entities are taken to equity where that balance is denominated in the functional currency of one party to the loan and is, in substance, part of the Group's net investment in a subsidiary. All other exchange differences on intragroup balances
are dealt with in the income statement but are excluded from underlying earnings.
The table below reflects the amounts of net debt and intragroup balances at the end of 2005, net of tax and outside interests, that expose the Group to
such exchange gains and losses that would be recorded in the income statement. These balances will not remain constant during 2006, however, and these numbers should therefore be used with care.
Net debt
    (a)
Intragroup
    balances
Currency
    of exposure
Currency
    of exposure
US$
Other
2005
US$
Other
2005
US$m
US$m
US$m
US$m
US$m
US$m
Functional currency of business unit:
Australian dollar
(890
)
3
(887
)
(1,862
)
224
(1,638
)
Canadian dollar
(536
)
1
(535
)
(216
)
—
(216
)
South African rand
(62
)
—
(62
)
(131
)
—
(131
)
United States dollar
—
9
9
—
167
167
Other currencies
4
6
10
(88
)
15
(73
)
Total
(1,484
)
19
(1,465
)
(2,297
)
406
(1,891
)
Note
(a)
The table shows
amounts after taking account of the impact of currency swaps. Of the US$890
million of net debt in Australian functional currency
companies,
US$58 million has been swapped to US$. The underlying currencies are:
five billion yen and 20 million Swiss Francs. Similarly,
of the US$536 million of net debt in Canadian functional currency companies,
US$366 million has been swapped to US$. The
underlying
currencies are: £165 million and 16 billion yen.
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The Group does not generally believe that active currency hedging would provide long term benefits to shareholders. Currency protection measures may be deemed appropriate in specific
commercial circumstances and are subject to strict limits laid down by the Rio Tinto board. As set out in Note 35 to the 2005 Financial statements, as at 31 December 2005 there were derivative contracts to sell US$512 million in respect of
future trading transactions. A significant part of the above hedge book was acquired with North Limited. North held a substantial hedge book on acquisition which has been retained but is not being renewed as maturities occur.
The functional currency of most operations within the Rio Tinto Group is the local currency in the country of operation. Foreign currency gains or losses
arising on translation of the net assets of these operations are taken to equity and, with effect from 1 January 2004, recorded in a currency translation reserve. The approximate translation effects on the Group's net assets of ten per cent
movements from the year end exchange rates are as follows:
Closing
2005
Effect
    of
exchange
10%
    change
in
rate
closing
    rate
US
    cents
+/-
    US$m
Australian dollar
73
910
Canadian dollar
86
134
South African rand
16
(12
)
UK sterling
173
11
Other
n/a
9
Interest rates
Rio Tinto's interest rate management policy is generally to borrow and invest cash at floating rates. Short term US dollar rates are normally lower than long term rates,
resulting in lower interest costs to the Group. Furthermore, cyclical movements of interest rates tend to compensate in the long term, to an extent, for those of commodity prices. In some circumstances, an element of fixed rate funding may be
considered appropriate. At the end of 2005, US$0.7 billion of the Group's debt was at fixed rates after taking into account interest rate swaps. Based on the Group's net debt at 31 December 2005, and with other variables unchanged, the
approximate effect on the Group's net earnings of a one percentage point increase in US dollar LIBOR interest rates would be a reduction of US$4 million.
Commodity prices
The Group's normal policy is to sell its products at prevailing market prices. Exceptions to this rule are subject to strict limits laid down by the Rio Tinto board and to rigid
internal controls. Rio Tinto's exposure to commodity prices is diversified by virtue of its broad commodity spread and the Group does not generally believe commodity price hedging would provide long term benefit to shareholders. The forward
contracts to sell 509 million pounds of copper at a fixed rand price per pound were entered into as a condition of the refinancing of Palabora in 2005.
Metals such as copper and aluminium are generally sold under contract, often long term, at prices determined by reference to prevailing market prices on
terminal markets, such as the London Metal Exchange and COMEX in New York, usually at the time of delivery. Prices fluctuate widely in response to changing levels of supply and demand but, in the long run, prices are related to the marginal cost of
supply. Gold is also priced in an active market in which prices respond to daily changes in quantities offered and sought. Newly mined gold is only one source of supply; investment and disinvestment can be important elements of supply and demand.
Contract prices for many other natural resource products are generally agreed annually or for longer periods with customers, although volume commitments vary by product.
Approximately 43 per cent of Rio Tinto's 2005 net earnings from operating businesses came from products whose prices were terminal market related
and the remainder came from products priced by direct negotiation.
Commodity prices increased rapidly in 2004 and 2005. Rio Tinto expects that economic growth will continue the positive trend of 2005 for the time being,
even if rates of growth slow somewhat. This, in turn, should result in a continuation of strong markets for our products and prices above the long term trend. However, the current strong markets cannot be expected to continue indefinitely. At some
point, the supply position will become more balanced, which will lead to a downturn in the cycle. We cannot predict when this will occur. Such a downturn would reduce revenues, cash flows and earnings.
Ore reserves presented on pages 19 to 29 do not exceed the quantities that, it is estimated, could be extracted economically if future prices were to be
in line with the average of historical prices for the three years to 30 June 2005, or contracted prices where applicable. For this purpose, contracted prices are applied only to future sales volumes for which the price is predetermined by an
existing contract; and the average of historical prices is applied to expected sales volumes in excess of such amounts. Moreover, reported ore reserve estimates have not been increased above the levels expected to be economic based on Rio Tinto's
own long term price assumptions. Therefore, a reduction in commodity prices from the three year average historical price levels would not necessarily give rise to a reduction in reported ore reserves.
The table below shows published 'benchmark' prices for Rio Tinto's commodities for the last three years where these are publicly
available, and where there is a reasonable degree of correlation between the benchmark and Rio
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Tinto's realised prices. The prices set out in the table are the averages for each of the calendar years, 2003, 2004 and 2005. The Group's revenue will not necessarily move
in line with these benchmarks for a number of reasons which are discussed below.
2003
2004
2005
Commodity
Source
Unit
US$
US$
US$
Aluminium
LME
pound
0.65
0.78
0.86
Copper
LME
pound
0.80
1.30
1.66
Gold
LBMA
ounce
364
.
409
.
444
.
Iron ore
Australian benchmark (fines)
dmtu*
0.30
0.35
0.55
Lead
LME
pound
0.23
0.40
0.44
Molybdenum
Metals Week: quote for dealer oxide price
pound
5.2
15.9
31.1
Silver
LBMA
ounce
4.9
6.6
7.3
Zinc
LME
pound
0.38
0.48
0.63
* =
    dry metric tonne unit
The discussion of revenues below relates to the Group's gross turnover from sales of commodities, including its share of the turnover of equity
accounted units, see Note 34 to the 2005 Financial statements.
The revenues from aluminium and related products such as alumina and bauxite increased by 18 per cent in 2005. Average prices quoted on the LME increased
by 10 per cent in 2005. In addition to these price increases, revenues reflected increased sales volumes, including the ramp up of output from the Comalco Alumina Refinery, which commenced shipments in November 2004.
A significant proportion of Rio Tinto's coal production is sold under long term contracts. In Australia, the prices applying to sales under the long
term contracts are generally renegotiated annually; but prices are fixed at different times of the year and on a variety of bases. For these reasons
,
average realised prices will not necessarily reflect the movements in any of the publicly quoted benchmarks. Moreover, there are significant product specification differences between
mines.
Revenues of the Group's Australian coal operations increased by 45 per cent in 2005, benefiting from a significant increase in prices realised on
sales both of thermal and coking coal. Published market indications for Australian thermal coal show a reduction of 10 per cent in 2005 compared with 2004. The coking coal benchmark price increased by 99 per cent in 2005.
In the US, Rio Tinto Energy America's revenues increased by six per cent in 2005, with benefits from higher prices limited by the influence of long
term contracts. Published market indications of spot prices for Wyoming thermal coal show an increase of 61 per cent in 2005.
The Group's copper revenues in 2005 were 33 per cent higher than in 2004 while the average LME copper price increased by 28 per cent. Revenues
benefited both from the increase in prices and from increased volumes, including the effect of a return to full operations at Grasberg. A pit wall slippage in 2003 had reduced output from Grasberg in 2004.
Diamond revenue increased 45 per cent in 2005 against 2004. There was a six per cent increase in the Diamond Trading Company (DTC) indicated price for
rough diamonds in the year, but the majority of the increase in revenues was attributable to higher volumes at Argyle and the commencement of the Murowa operation. While movements in the DTC price are a general indicator of the overall rough diamond
market, they do not necessarily correlate closely with prices actually realised by Rio Tinto, which reflect the particular type of diamonds in its diverse product mix.
Gold revenues in 2005 were 19 per cent higher than in 2004 while the average LBMA gold price increased by nine per cent year on year. Revenues benefited
from the price increase and also from the very substantial recovery in sales volumes at Grasberg which more than offset the effects of the disposal of Morro do Ouro in 2004 and the closure of Kelian early in 2005.
The Group's revenue from industrial minerals increased by 17 per cent in 2005 against 2004. This was mainly attributable to strong price performance
across all products at Rio Tinto Iron and Titanium and increased volumes, particularly at Richards Bay Minerals. Sales are made under contract at negotiated prices.
The
Australian iron ore fines benchmark (average for the calendar year) increased
by 57 per cent in 2005 compared with 2004. This contributed to an  increase in
the Group's iron ore revenue of 88 per cent, with the additional benefits
of volume increases from the West Angelas and Yandicoogina expansions and the
recovery of output at Iron Ore Company of Canada, after a ten week strike in

2004.
Lead,
zinc and silver accounted for less than two per cent of revenue in each of the
two years to 2005.
Average molybdenum prices quoted in Metals Week in 2005 almost doubled from the 2004 level. Sales revenue was over five times higher. In addition to the
higher prices, this reflected a major step up in volumes achieved through changes in the mine plan at Kennecott Utah Copper to maximise molybdenum production in response to the strong market.
Uranium revenue increased by 23 per cent in 2005 as a result of higher prices. Information included in the RWE NUKEM Inc. Price Bulletin indicated price
increases of 54 per cent in 2005. However, these large increases are not fully reflected in the revenues for the period. Uranium oxide is typically sold on long term contracts with pricing determined for several years beyond the commencement of the
contracts. Prices realised by the Group in any particular year will generally not, therefore, reflect changes reported in the Price Bulletin.
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The approximate effect on the Group's net earnings of a ten per cent change from the full year average market price in 2005 for the following metals
would be:
Unit
Average
market
  price
for 2005
US$
Effect
    of 10%
change in full
year average
+/- US$m
Copper
pound
1.66
215
Aluminium
pound
0.86
114
Gold
ounce
444
.
54
Molybdenum
pound
31.0
40
The above sensitivities are based on 2005 volumes and give the estimated impact on net earnings of changes in prices assuming that all other variables remain constant. These should be
used with care. As noted previously, the relationship between currencies and commodity prices is a complex one and changes in exchange rates can influence commodity prices and vice versa.
Treasury management and financial instruments
Treasury activities operate as a service to the business of the Rio Tinto Group and not as a profit centre. Strict limits on the size and type of transaction permitted are laid down
by the Rio Tinto board and are subject to rigorous internal controls. Corporate funding and overall strategic management of Rio Tinto's balance sheet is handled by the London based Group Treasury.
Rio Tinto does not acquire or issue derivative financial instruments for trading or speculative purposes; nor does it believe that it has exposure to
such trading or speculative holdings through its investments in joint ventures and associates. Derivatives are used to separate funding and cash management decisions from currency exposure and interest rate management. The Group uses interest rate
swaps in conjunction with longer term funds raised in the capital markets to achieve a floating rate obligation which is consistent with the Group's interest rate policy. Currency swaps are used to convert debt or investments into currencies,
primarily the US dollar, which are consistent with the Group's policy on currency exposure management. No material exposure is considered to exist by virtue of the possible non performance of the counterparties to financial instruments held by
the Group.
The derivative contracts in which the Group is involved are valued by reference to quoted market prices, quotations from independent financial
institutions or by discounting expected cash flows.
Dividends
Dividends paid on Rio Tinto plc and Rio Tinto Limited shares are equalised on a net cash basis; that is without taking into account any associated tax credits. Dividends are
determined in US dollars.
Rio Tinto's progressive dividend policy aims to increase the US dollar value of dividends over time, without cutting them in economic downturns. Rio
Tinto plc shareholders receive dividends in pounds sterling and Rio Tinto Limited shareholders receive dividends in Australian dollars, which are determined by reference to the exchange rates applicable to the US dollar two days prior to the
announcement of dividends. Changes in exchange rates could result in a reduced sterling or Australian dollar dividend in a year in which the US dollar value is maintained or increased. The interim dividend for each year in US dollar terms will be
equivalent to 50 per cent of the total US dollar dividends declared in respect of the previous year.
As part of the Group's capital management programme, a special dividend of US$1.5 billion (US$1.10 per share) was declared in respect of
2005 which was paid concurrently with the 2005 final ordinary dividend. The special dividend does not form part of the Group's progressive dividend policy.
Capital management programme
On 3 February
2005, a capital management programme to return up to US$1.5 billion to shareholders
by the end of 2006 was announced and in February 2006 the Group announced an

extended capital management programme totalling US$4.0 billion, comprising
the US$1.5 billion special dividend referred to above, and a share buy back
programme totalling US$2.5 billion to be completed by the end of 2007, subject
to
market conditions. This amount replaces the approximately US$0.5 billion
remaining under the 2005 programme.
A
total of US$877 million was returned to shareholders during 2005 by way of an off market buy back of Rio Tinto Limited shares for
  US$774 million and on market purchases of Rio Tinto plc shares for US$103 million. By 31 May 2006 a further US$2,332 million had been returned to shareholders by way of on market purchases of Rio Tinto plc shares for US$832 million and the payment of the
special dividend of $1.5 billion.
Critical
accounting policies and estimates
Dual
      listed company reporting
As explained in detail in the Outline of dual listed companies' structure and basis of financial statements on page A-10 of the 2005 Financial statements, the consolidated
financial statements of the Rio Tinto Group on pages A-2 to A-110 deal with the results and assets and liabilities of both of the dual listed companies, Rio Tinto plc and Rio Tinto Limited, and their subsidiaries. They are prepared in accordance
with International Financial Reporting Standards as adopted by
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the European
  Union ("EU IFRS"). In accordance with the exemptions contained in IFRS 1 "First-time adoption of International Financial Reporting Standards", the
accounting treatment of business combinations prior to 1 January 2004 has not been restated to comply with IFRS 3 "Business Combinations".
As a result the DLC structure between Rio Tinto plc and Rio Tinto Limited has
been accounted for as a merger, rather than as an acquisition, in line with the
treatment adopted previously under UK GAAP. For this purpose, Rio Tinto plc and
Rio Tinto Limited are viewed as a single parent company with their respective
shareholders being the
shareholders in that single company.
The
2005 Annual report and financial statements satisfy the obligations of Rio Tinto
Limited to prepare consolidated accounts under Australian company law, as amended
by an order issued by the Australian Securities and Investments Commission on
27 January 2006. The 2005 Financial statements include a statement setting out
the effect of the adjustments to consolidated EU IFRS profit, consolidated
total recognised income and consolidated shareholders' funds for the Group that would be required under the version of IFRS that is applicable in Australia ("Australian IFRS").
The
US dollar is the presentation currency used in these financial statements, as
it most reliably reflects the Group's global business
performance.
Ore reserve estimates
Rio Tinto estimates its ore reserves and mineral deposits based on information compiled by Competent Persons as defined in accordance with the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves of December 2004 (the JORC code). The amounts presented under EU and Australian IFRS are based on the reserves, and in some cases mineral deposits, determined under the JORC code.
For
the purposes of the Group's financial information under US GAAP, ore reserves are computed in accordance with the SEC's
Industry Guide 7 and are shown on pages 19 to 29. Estimates of ore reserves and
mineral deposits in accordance with JORC are not shown in this combined annual
report on Form 20-F.
Ore reserves presented in accordance with SEC Industry Guide 7 do not exceed the quantities that, it is estimated, could be extracted economically if
future prices were to be in line with the average of historical prices for the three years to 30 June 2005, or contracted prices where applicable. For this purpose, contracted prices are applied only to future sales volumes for which the price is
predetermined by an existing contract; and the average of historical prices is applied to expected sales volumes in excess of such amounts. Moreover, reported ore reserve estimates have not been increased above the levels expected to be economic
based on Rio Tinto's own long term price assumptions. Therefore, a reduction in commodity prices from the three year average historical price levels would not necessarily give rise to a reduction in reported ore reserves.
There are numerous uncertainties inherent in estimating ore reserves and assumptions that are valid at the time of estimation may change significantly
when new information becomes available.
Changes in the forecast prices of commodities, exchange rates, production costs or recovery rates may change the economic status of reserves and may,
ultimately, result in the reserves being restated. Such changes in reserves could impact on depreciation and amortisation rates, asset carrying values, deferred stripping calculations and provisions for close down, restoration and environmental
clean up costs.
Asset carrying values
Events or changes
in circumstances can give rise to significant impairment charges or reversals
of impairment provisions in a particular year. In 2005, there were no significant
impairment charges or reversals. However in 2004, the Group incurred a US$558 million impairment charge, (US$321
million net of tax and outside shareholders interests).
When
such events or changes in circumstances impact on a particular asset or cash
generating unit, its carrying value is assessed by reference to its recoverable
amount being the higher of fair value less costs to sell and value in use (being
the net present value of expected future cash flows of the relevant cash generating
unit). The best evidence of an asset's fair value is its value
obtained from an active market or binding sale agreement. Where neither exists, fair value less costs to sell is based on the best information available to reflect the amount the Group could receive for the cash generating unit in an arm's
length transaction. In some cases this is estimated using a discounted cash flow analysis. The cash flows used in these analyses are particularly sensitive to changes in two parameters: exchange rates and commodity selling prices. The great majority
of the Group's sales are based on prices denominated in US dollars. To the
extent that the currencies of countries in which the Group produces commodities
strengthen against the US dollar without commodity price offset, cash flows and,
therefore, net present values are reduced. Management considers that over the
long term, there is a tendency for movements in commodity prices to compensate
to some extent for movements in the value of the US dollar (and vice versa).
But such
compensating changes are not synchronised and do not fully offset each other.
Recent favourable changes in commodity prices have exceeded adverse shifts in exchange rates. In the three years to 31 December 2005, the Australian
dollar strengthened by 23 per cent against the US dollar, the Canadian dollar strengthened by 26 per cent and the South African rand by 27 per cent. Taking these three years together, commodity prices rose substantially: for example, copper prices
increased by 134 per cent, aluminium by 40 per cent and gold by 44 per cent.
Reviews
of carrying values normally relate to cash generating units which, in accordance
with IAS 36 "Impairment of Assets", are identified by
dividing an entity into as many largely independent cash generating streams as
is reasonably practicable. In some cases the business units within the product
groups consist of several operations with independent cash generating streams,
which
therefore constitute separate cash generating units.
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The cash flow forecasts are based on best estimates of expected future revenues and costs. These may include net cash flows expected to be realised from
extraction, processing and sale of mineralised material that does not currently qualify for inclusion in proven or probable ore reserves. Such non reserve material is included where there is a high degree of confidence in its economic extraction.
This expectation is usually based on preliminary drilling and sampling of areas of mineralisation that are contiguous with existing reserves. Typically, the additional evaluation to achieve reserve status for such material has not yet been done
because this would involve incurring costs earlier than is required for the efficient planning and operation of the mine.
The expected future cash flows of cash generating units reflect long term mine plans which are based on detailed research, analysis and iterative
modelling to optimise the level of return from investment, output and sequence of extraction. The plan takes account of all relevant characteristics of the orebody, including waste to ore ratios, ore grades, haul distances, chemical and
metallurgical properties of the ore impacting on process recoveries and capacities of processing equipment that can be used. The mine plan is therefore the basis for forecasting production output in each future year and production costs.
Rio Tinto's cash flow forecasts are based on assessments of expected long term commodity prices, which for most commodities are derived from an
analysis of the marginal costs of the producers of these commodities. These assessments often differ from current price levels and are updated periodically.
In some cases, prices applying to some part of the future sales volumes of a cash generating unit are predetermined by existing sales contracts. The
effects of such contracts are taken into account in forecasting future cash flows.
Cost levels incorporated in the cash flow forecasts are based on the current long term mine plan for the cash generating unit. For impairment reviews,
recent cost levels are considered, together with expected changes in costs that are compatible with the current condition of the business and which meet the requirements of IAS 36. IAS 36 includes a number of restrictions on the future cash flows
that can be recognised in respect of future restructurings and improvement related capital expenditure.
Under
US GAAP, assumptions used in cash flow forecasts are principally the same as
those used under EU IFRS, except that the estimated cash flows related to the
liability for asset retirement obligations are excluded under US GAAP (and the
related liabilities are excluded from the determination of the carrying value
of the asset group). Impairment is only recognised when the anticipated undiscounted
cash flows are insufficient to recover the carrying value of the asset group.
Once impairment is determined, an asset is written
down to its fair value, which is normally calculated using discounted cash flows,
similar to those under EU IFRS and the result is generally similar to that under
EU IFRS.
The useful lives of the major assets of a cash generating unit are usually dependent on the life of the orebody to which they relate. Thus the lives of
mining properties, smelters, concentrators and other long lived processing equipment generally relate to the expected life of the ore body. The life of the ore body, in turn, is estimated on the basis of the long term mine plan.
Forecast
cash flows are discounted to present values using Rio Tinto's weighted average
cost of capital with appropriate adjustment for the risks associated with the
relevant cash flows, to the extent that such risks are not reflected in the forecast
cash flows. For final feasibility studies and ore reserve estimation, internal
hurdle rates are used which are generally higher than the
weighted average cost of capital.
The above rates are applied to net of tax cash flows expressed in real terms and discounted at a post-tax discount rate. If an asset is impaired a
pre-tax discount rate is calculated from the post-tax rate taking into account the specific tax circumstances of the cash generating unit. This pre-tax rate is then used to discount the pre-tax cash flows. The resulting value is compared to the
assets of the cash generating unit to determine the impairment charge required.
Final feasibility studies, ore reserve estimation and value in use estimates are based on the exchange rates current at the time of the evaluation. In
estimates of fair value, a forecast of the long term exchange rate is made having regard to spot exchange rates, historical data and external forecasts.
Forecast
cash flows for ore reserve estimation for JORC purposes and for impairment testing
are based on Rio Tinto's long term price forecasts. For
final feasibility studies these prices, and projected costs, are assumed to decline
systematically in real terms.
For
the majority of Rio Tinto's businesses, by both number and by value, the
recoverable amounts are substantially in excess of the carrying value in the
balance sheet. For a minority of the businesses the carrying value is close to
their recoverable amount, and these are reviewed for impairment where appropriate.
The effects of exchange rate and commodity price changes on the values of these
units relative to their book values are monitored closely.
All goodwill and intangible assets that are not yet ready for use or have an indefinite life are tested annually for impairment regardless of whether
there has been any change in events or circumstances.
Close down, restoration and clean up obligations
Provision is made for environmental remediation costs when the related environmental disturbance occurs, based on the net present value of estimated future costs.
Close down and restoration costs are a normal consequence of mining, and the majority of close down and restoration expenditure is incurred at the end of
the life of the mine. The costs are estimated on the basis of a closure plan. The cost estimates are calculated annually during the life of the operation to reflect known developments, eg updated cost estimates and revisions to the estimated lives
of operations, and are subject to formal review at regular intervals. Although the ultimate cost to be incurred is uncertain, the Group's businesses estimate their respective costs
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based on feasibility and engineering studies using current restoration standards and techniques. Changes to closure provisions, other than those arising from the unwind of the
discount applied in establishing the net present value of the provision, are capitalised within property, plant and equipment and depreciated over the lives of the assets to which they relate.
Clean up costs are costs resulting from environmental damage that was not a necessary consequence of mining, including remediation, compensation and
penalties. These costs are charged to the income statement. Provisions are recognised at or near the time the damage, remediation process and estimated remediation costs become known. Remediation procedures generally commence soon after this point
in time but may continue for many years depending on the nature of the disturbance and the remediation techniques.
As noted above, the ultimate cost of environmental disturbance is uncertain and cost estimates can vary in response to many factors including changes to
the relevant legal requirements, the emergence of new restoration techniques or experience at other mine sites. The expected timing of expenditure can also change, for example in response to changes in ore reserves or production rates. As a result
there could be significant adjustments to the provision for close down and restoration and environmental clean up, which would affect future financial results.
Post retirement benefits
For EU IFRS reporting of defined benefit post-employment plans, the Group has adopted the option under IAS 19 to recognise the difference between the fair value of the plan assets (if
any) and the present value of the plan liabilities as an asset or liability on the balance sheet and to record actuarial gains and losses directly in the Statement of Recognised Income and Expense.
Under US GAAP post retirement benefits are accounted for in accordance with Financial Accounting Standard Nos. 87 and 106 under which gains or losses
outside a ten per cent fluctuation corridor are spread.
The most significant assumptions used in accounting for post retirement plans are the long term rate of return on plan assets, the discount rate and the
mortality assumptions.
The
long term rate of return on plan assets is used to calculate interest income
on pension assets, which is credited to the Group's income
statement. The discount rate is used to determine the net present value of future liabilities and each year the unwinding of the discount on those liabilities is charged to the Group's
income statement. The mortality assumption is used to project the future stream
of benefit payments, which is then discounted to arrive at a net present value
of liabilities.
Valuations are carried out using the projected unit method.
The
expected rate of return on pension plan assets is determined as management's
best estimate of the long term return on the major asset classes, ie equity,
debt, real estate and other, weighted by the actual allocation of assets among
the categories at the measurement date. The expected rate of return is calculated
using geometric averaging.
The
sources used to determine management's best estimate of long term returns are numerous and include country specific bond yields, which may be
derived from the market using local bond indices or by analysis of the local bond market, and country specific inflation and investment market expectations derived from market data and analysts' or governments' expectations
as
applicable.
In
particular, the Group estimates long term expected real returns on equity, ie
returns in excess of inflation, based on the economic outlook,
analysts' views and those of other market commentators. This is the most
subjective of the assumptions used and it is reviewed regularly to ensure that
it remains consistent with best practice.
For EU IFRS, the discount rate used in determining the service cost and interest cost charged to income is the market yield at the start of the year on
high quality corporate bonds. For countries where there is no deep market in such bonds the yield on Government bonds is used. For determining the present value of obligations shown on the balance sheet, market yields at the balance sheet date are
used.
The discount rate under US GAAP is the implied yield available on AA rated corporate debt at the measurement date.
The rates used for both 2004 and 2005 are set out in Note 49 to the 2005 Financial Statements for EU IFRS accounting and in Note 52 for US
GAAP.
For EU IFRS, the average expected long term rate of return on assets used to determine 2005 pension cost was 6.8 per cent . This will decrease to 6.3 per
cent in 2006. For US GAAP, the average expected long term rate of return on assets used to determine 2005 pension cost was 6.7 per cent and this will decrease to 6.2 per cent in 2006. In both cases, this is primarily because of a decrease in
expected long term nominal equity returns.
In calculating the 2005 EU IFRS expense the average future increase in compensation levels was assumed to be 4.7 per cent and the same rate will be used
for 2006. For US GAAP for 2005, the average future increase in compensation levels was assumed to be 4.6 per cent and this will remain at 4.6 per cent for 2006.
For
EU IFRS, the average discount rate used for the Group's plans in 2005 was 5.4 per cent and the average discount rate used in 2006 will be 5.0
per cent. The decrease is attributable to lower corporate bond yields. For US GAAP, the average discount rate used for the Group's
plans in 2005 was 5.7 per cent and the average discount rate used in 2006 will
be 5.2 per cent, the decrease is
again attributable to lower corporate bond yields.
For
2005 the cost in relation to post retirement benefits net of tax and minorities
was US$170 million under US GAAP. Under EU IFRS, the net cost was
US$121 million. These costs include both pension and post retirement healthcare benefits. Within these costs, the expected return on assets net of tax and minorities was US$209 million under US GAAP and US$228
million under EU
IFRS.
Based on the known changes in assumptions noted above and other expected circumstances, the impact of post
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retirement
  costs on the Group's EU IFRS net earnings in 2006 would be expected to increase by some US$5 million to US$126 million. The impact of post-retirement benefits
costs on the Group's US GAAP net earnings in 2006 would be expected to decrease by some US$6 million to US$164
million. In both cases, the actual charge may be impacted by other factors that
cannot be predicted, such as the effect of
changes in benefits and exchange rates.
Under
US GAAP, there are net unrecognised losses in relation to the Group's post-retirement benefit plans of US$259 million at 31 December 2005
net of tax and minorities. This will be charged to earnings over the average remaining service life of employees in the plans to the extent that losses exceed the 10% corridor on a plan by plan basis. The 2006 impact on the Group's US GAAP net
earnings will be a cost of US$19 million compared to a cost of US$26
million in 2005.
The
table below sets out the potential change in the Group's 2005 EU IFRS and US GAAP net earnings (after tax and outside interests) that would
result from hypothetical changes to post retirement assumptions and estimates. The sensitivities are viewed for each assumption in isolation although a change in one assumption is likely to result in some offset
elsewhere.
EU IFRS
US GAAP
US$m
US$m
Sensitivity of Group's 2005 net earnings to changes in:
Expected return on assets
– increase of 1 percentage point
25
23
– decrease of 1 percentage point
(25
)
(23
)
Discount rate
– increase of 0.5 percentage points
(1
)
10
– decrease of 0.5 percentage points
1
(13
)
Salary increases
– increase of 0.5 percentage points
(5
)
(7
)
– decrease of 0.5 percentage points
5
7
Demographic - allowance for additional future mortality improvements
– overall increase of 5% in liability
(13
)
(24
)
–
    overall decrease of 5% in liability
13
23
Note
US
      GAAP sensitivities include the effect of the amortisation of unrecognised
      gains and losses, where applicable. Under EU IFRS the effect of changes
      in actuarial assumptions is taken
to equity.
The figures in the above table only show the impact on net earnings. Changing the assumptions would also have an impact on the balance sheet.
The
impact on cash flow in 2005 of the Group's pension plans, being the employer contributions to defined benefit and defined contribution pension
plans, was US$173 million. In addition there were contributions of US$26
million in respect of unfunded healthcare schemes.
In
relation to pensions, it is currently expected that there will be no significant
regular employer or employee contributions to the UK plan in 2006. The next formal
valuation of the Rio Tinto Pension Fund is due with an effective date of 31 March
2006. The results of the valuation will be available later in the year, after
which contributions into the fund may be required. Contributions are made
to the main Australian plan according to the recommendation of the plan actuary
and are primarily to a mixed defined benefit/defined contribution type arrangement.
In North America, contributions are agreed annually in nominal terms. Whilst
contributions for 2006 are yet to be determined, contributions in the UK, Australia
and Africa are expected to be broadly in line with 2005 contributions. Contributions
for 2006 are expected to be around US$20 million higher than in 2005 for
Canadian plans and around US$40 million lower than in 2005 for US plans.
Further information under EU IFRS and US GAAP for pensions is given on pages A-82 to A-85 and A-101 to A-104, of the 2005 Financial statements,
respectively.
Overburden removal costs
In open pit mining operations, it is necessary to remove overburden and other barren waste materials to access ore from which minerals can economically be extracted. The process of
  mining overburden and waste materials is referred to as stripping. During the development of a mine, before production commences, it is generally accepted that stripping costs are capitalised as part of the investment in construction of the
mine.
Stripping of waste materials continues during the production stage of the mine. Some mining companies expense these production stage stripping costs as
incurred, while others defer such stripping costs. Those mining companies that expense stripping costs as incurred will report greater volatility in the results of their operations from period to period.
Rio Tinto defers production stage stripping costs for those operations where this is the most appropriate basis for matching costs with the related
economic benefits and the effect is material.
The amount of stripping costs deferred is based on the ratio obtained by dividing the tonnage of waste mined either by the quantity of ore mined or by
the quantity of minerals contained in the ore. In some operations, the quantity of ore is used, being a more practical basis for matching costs with the related economic benefits where there are important by products or where the grade of the ore is
relatively stable from year to year.
Information about the stripping ratios of the business units, including jointly controlled entities and associates, that account for the majority of the
deferred stripping balance at 31 December 2005, along with the year in which
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deferred stripping is expected to be fully amortised, is set out in the following table:
Actual
    stripping
Life of mine
ratio
    for year
stripping
    ratio
2004
2005
2004
2005
Kennecott Utah Copper (2018) (a) (b)
1.83
2.02
1.24
1.51
Argyle Diamonds (2009) (a)
6.70
6.60
4.91
4.40
Grasberg Joint Venture (2015) (a)
3.39
3.12
2.43
2.43
Diavik (2008) (c)
1.474
1.209
0.938
0.912
Escondida (2042) (d)
0.1145
0.0915
0.1129
0.1188
Notes
(a)
Strip ratios shown are waste to ore.
(b)
Kennecott's life of mine strip ratio increased on approval of the open pit push back.
(c)
Diavik's strip ratio is disclosed as bench cubic metre per carat.
(d)
Escondida's strip ratio is based on waste tonnes to pounds of copper mined.
Borax capitalised stripping costs as part of a distinct period of new development during the production stage of the mine. Capitalisation stopped in 2004. The capitalised costs will
be fully amortised in 2034.
The
life of mine waste-to-ore ratio is a function of an individual mine's pit design and therefore changes to that design will generally result in
changes to the ratio. Changes in other technical or economic parameters that impact on reserves will also have an impact on the life of mine ratio even if they do not affect the mine's
pit design. Changes to the life of mine ratio are accounted
for prospectively.
In operations that experience material fluctuations in the ratio on a year to year basis over the life of the mine, deferral of stripping costs reduces
the volatility of the cost of stripping expensed in individual reporting periods, in relation to production of ore or contained minerals, as applicable. Stripping costs incurred in the period are deferred to the extent that the current period ratio
exceeds the life of mine ratio. Such deferred costs are then charged against reported profits to the extent that, in subsequent periods, the ratio falls short of the life of mine ratio. The life of mine ratio is based on the proven and probable
reserves of the operation.
In some operations, there are distinct periods of new development during the production stage of the mine. These may, for example, relate to a discrete
section of the orebody. The new development will be characterised by a major departure from the life of mine stripping ratio. Stripping costs attributable to such new development are deferred and subsequently amortised on a unit of production
basis.
Deferred stripping costs form part of the total investment in the relevant cash generating unit, which is reviewed for impairment if events or changes in
circumstances indicate that the carrying value may not be recoverable.
During
2005, production stage stripping costs incurred by subsidiaries and equity accounted
operations exceeded the amounts charged against pre tax
profit by US$93 million. The net book value carried forward in property, plant and equipment and in investments in jointly controlled entities and associates at 31 December 2005 was US$845
million.
Amortisation
of deferred stripping costs is included in depreciation of property, plant and
equipment or in the Group's share of the results of its
equity accounted operations, as appropriate.
US deferred tax recoverable
A
    potential tax asset of US$567 million for United States Alternative Minimum Tax credits and US temporary differences for which recovery is dependent on the level of taxable
  profits in the US tax group, has not been recognised in the accounts. (An amount of US$10 million has been recognised.) The determination that these potential assets should not be recognised at 31 December 2005 was based on projections of future
  taxable profits for the operations that form part of Rio Tinto's US tax
  group. It is possible that recoveries may occur depending on future commodity
  prices, costs, financing arrangements and business developments over the next
20 years or more. However, such recoveries are not considered probable.
Deferred tax on mining rights
On
    transition to EU IFRS with effect from 1 January 2004, deferred tax was provided
    in respect of fair value adjustments on acquisitions in previous years. No
    other adjustments were made to the assets and liabilities recognised in such
    prior year acquisitions and, accordingly, shareholders' funds were reduced by US$720
    million on transition to EU IFRS primarily as a result of deferred tax on
    fair value adjustments to mining rights. In general, these mining rights
    are not eligible for income tax allowances. In such cases, the provision
    for deferred tax was based on the difference between their carrying value
    and their nil income tax base. The existence of a tax
  base for capital gains tax purposes was not taken into account in determining
    the deferred tax provision relating to such mineral rights because it is
    expected that the carrying amount will be recovered primarily through use
    and not from the disposal of the mineral rights. Also, the Group is only
    entitled to a deduction for capital gains tax purposes if the mineral rights
are sold or formally relinquished.
Exploration
In
    accordance with IFRS 6 "Exploration for and Evaluation of Mineral Resources",
    the Group has continued the policy on the recognition and measurement of
    exploration and evaluation expenditure that was previously applied under
UK
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GAAP.
      The Group expenses exploration expenditure until acquisition of a beneficial
      interest or option in mineral rights from which point it is capitalised.
      Capitalised exploration expenditure is reviewed for impairment at each balance
      sheet date and full provision is made for impairment unless there is a high
      degree of confidence in the project's viability and hence it is probable
  that future economic benefits will flow to the Group.
The carrying values of exploration assets are reviewed twice per annum by management and the results of these reviews are reported to the
Audit committee
.
  There may be only mineralised material that has been subject to preliminary
  geological analysis to form a basis for the impairment review. The review is
  based on a status report regarding the Group's intentions for development
  of the undeveloped property. In some cases, the undeveloped properties are
  regarded as successors to orebodies currently in production and will therefore
  benefit from existing infrastructure and equipment. It is intended that these
  will be developed and go into production when the current source of ore is
  exhausted. Any impairment provisions raised
in previous years are reassessed if there is a change in circumstances which
  indicates that they may no longer be required, for example if it is decided
  to proceed with development.
Contingencies
Disclosure
    is made of material contingent liabilities unless the possibility of any
    loss arising is considered remote. Contingencies are disclosed in Note 36
    to the 2005 Financial statements. These include tax assessments in Australia
    of approximately A$500 million which, based on Counsels' opinion,
the Group expects to be successful in challenging.
Underlying
earnings
The
    Group presents "Underlying earnings" as an additional measure of
    earnings to provide greater understanding of the underlying business performance
    of its operations. The adjustments made to net earnings to arrive at underlying
earnings are explained above in the section on underlying earnings.
Trend information
The
    demand for the Group's products is closely aligned with changes in global GDP. Changes in the GDP of developing countries will have a greater impact on materials such as iron
  ore and coal that can be used to improve infrastructure whereas changes in the GDP of developed countries will have a greater impact on industrial minerals that have many applications in consumer products. Copper is used in a wide range of
  applications from infrastructure to consumer electronics and demand for it has tended to grow in line with or slightly faster than global GDP. Trends in production of the Group's
  minerals and metals, consolidated turnover, earnings and total assets are set
out in the Operational review on pages 57 to 80.
Forward looking statements
Forward looking statements are contained in this financial review and attention is drawn to the Cautionary statement on page 8.
OPERATING REVIEW
The
      operating review comprises a separate review of each of the principal product
      and global support groups, other operations and a Group society and environment
  report.
IRON
ORE GROUP
Iron Ore
Iron Ore
(Rio Tinto
share)
millions tonnes
Underlying
Earnings
contribution*
MINED
US$m
*
The
        amounts presented exclude net interest and other centrally reported items.
        A reconciliation with net earnings for 2004 and 2005 is set out in Note
        2 to the 2005 Financial statements. Product group earnings for 2004 and
        2005 are based on underlying earnings as determined under EU IFRS.
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Rio
      Tinto's Iron Ore group (RTIO) comprises operations and projects across
      four continents. In Western Australia, RTIO wholly owns Hamersley Iron.
      Hamersley wholly owns five mines and also operates the 60 per cent owned
      Channar mine
      and the 54 per cent owned Eastern Range mine on behalf of joint venture
      partners. The Channar mine is a joint venture with an Australian subsidiary
      of Sinosteel
      Corporation and the Eastern
Range mine is owned in joint venture with the Shanghai Baosteel Group Corporation.
RTIO
also includes Rio Tinto's 53 per cent interest in Robe River Iron Associates' two mines in Western Australia and Rio Tinto's 58.7 per
cent interest in Iron Ore Company of Canada. The Iron Ore group operates both enterprises, which were acquired in 2000. In 2005, RTIO assumed management of Rio Tinto Brasil which has a 100 per cent interest in Mineração Corumbaense
Reunida, known as Corumbá.
In
addition, RTIO includes the HIsmelt® direct smelting technology developed
in Western Australia and interests in resources held globally, including the
Orissa, India, and Simandou, Guinea, projects.
Following
the agreement reached in 2003 with the joint venture partners in Robe River,
Pilbara Iron was formed to allow closer cooperation between Hamersley and Robe,
and enable RTIO's iron ore assets in the Pilbara to be run as an optimised and integrated operation. Coordination arrangements continued to be implemented during 2005, including the interconnection of Hamersley and
Robe's power systems.
RTIO Expansion Projects was created in 2003 to manage the growing portfolio of projects and studies in the Pilbara. The Expansion Projects team operates
closely with Pilbara Iron, but is managed independently in order to minimise the impact on operations through project study and implementation phases.
At
31 December 2005, the group accounted for 28 per cent of Rio Tinto's operating assets. In 2005, the group contributed approximately 27 per cent
of the Group's gross turnover and 35 per cent of underlying earnings.
For the contract year commencing April 2005 RTIO reached agreement with customers on price increases of 71.5 per cent for lump, fine and Yandi ore. For
the contract year commencing April 2006 RTIO reached agreement with customers on price increases for its products of 19 per cent.
RTIO recruited strongly during 2005 to meet the workforce requirements of the expanding operations, with more than 1,000 new employees joining Pilbara
Iron and Expansion Projects. RTIO employs approximately 4,300 people in Western Australia and about 6,500 worldwide. Sam Walsh is chief executive, based in Perth, Western Australia.
Financial performance
2005 compared with 2004
RTIO's
      contribution to 2005 underlying earnings was US$1,722 million, US$1,157
million higher than in 2004.
Demand
      for iron ore continued to be extremely strong across the product range
      throughout 2005, driven by continued strong
        growth in global steel production and improvements in steel demand. Chinese
        iron ore imports rose 30 per cent year on year, and Hamersley, Robe,
      IOC and Corumbá all
  achieved record production in 2005.
The first phases of major expansions to the Pilbara infrastructure (Dampier port to 116 million tonnes per annum, Yandi mine to 36 million tonnes per
annum and West Angelas mine to 25 million tonnes per annum) were completed in 2005, and substantial progress made on the brownfields mine expansion projects announced in April 2005.
In
October 2005 RTIO announced the next phase of expansion, which is expected to
increase Dampier port capacity to 140 million tonnes per annum and Yandi mine
capacity to 52 million tonnes per annum. This US$1.35 billion commitment takes to almost US$3
billion the total committed over the last two years to increase the capacity
of the Hamersley and Robe port, rail, power and mine assets.
In
July 2005, RTIO reached agreement to form a 50:50 joint venture with Hancock
Prospecting for the development of the Hope Downs project. The purchase was subject
to various regulatory approvals, which were granted during April 2006, and the
acquisition process is proceeding. Hope Downs contains significant iron deposits
of similar quality to West Angelas. Development of the deposits will further
strengthen RTIO's position as the prime supplier of iron ore in Australia.
Under the joint venture, RTIO will manage the development and ongoing operation
of the assets, and the project will use Pilbara Iron managed port, rail and power
infrastructure.
The
commercial HIsmelt® plant built at Kwinana in Western Australia entered its
commissioning phase in April 2005, with the first quantities of hot metal produced
in mid-June 2005.
Hamersley
Iron
(Rio
Tinto: 100 per cent)
Hamersley
Iron operates seven mines in Western Australia, including two mines in joint
venture, 630 kilometres of dedicated railway, and port and infrastructure facilities
located at  Dampier. These assets are run as a single operation managed and maintained
by Pilbara Iron.
The port expansion to 116 million tonnes has been
progressively commissioned since mid-2005, and 5.7 million tonnes of ore had
passed across the new wharf by year end. Commissioning of the Yandicoogina expansion
to 36 million tonnes per annum was completed ahead of schedule in October.
During
the year, work continued on expanding or augmenting rail, power and other infrastructure
to complement the expanded port and mine capabilities.
Hamersley and Robe's power systems were interconnected, and generation capacity
at Paraburdoo was expanded and converted to gas.
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In 2005, Hamersley completed option analysis studies to further increase its system capacity to ensure its continued ability to meet the needs of
customers and the strong growth in demand for iron ore, particularly in China.
In
April RTIO committed US$290 million to further expand Mount Tom Price, Marandoo
and Nammuldi. During 2006 these projects are expected to begin to  add 15 million
tonnes per annum additional capacity for at least three years.
In
    October 2005, Rio Tinto approved a further US$1.35 billion to expand
    Dampier
port and the Yandicoogina mine.
The
port expansion is expected to increase Dampier's export capacity from 116
million tonnes per annum to 140 million tonnes per annum through the replacement
of existing circuits. The Yandicoogina mine expansion is expected to increase
its output from 36 million tonnes per annum to 52 million tonnes per annum. Both
are expected to be completed at the end of 2007 with progressive ramp up in
2008.
Work also continued on pre-development studies for new mines.
2005 operating performance
Hamersley
      Iron's total production in 2005 was 89.6 million tonnes, 11.5 million
      tonnes more than in 2004, notwithstanding the volume of expansion work underway
      across the  business. Rio Tinto's share of this production was 86.1
  million tonnes.
Shipments
      by Hamersley totalled 90.1 million tonnes, including sales through joint
      ventures. Hamersley's shipments to China also reached
        a new record level at 49.5  million tonnes, securing China's place
        as the single largest destination
    for Hamersley iron ore.
Production from all mines was stretched to achieve these levels, placing cost and other operating stresses on the Hamersley system, although less so than
in 2004.
Hamersley continued to work sustainable development principles into its daily operations throughout the year. Full accreditation was achieved for all
Pilbara Iron sites under ISO 14001.
Hamersley's
  lost time injury frequency rate remained the same as 2004 at 0.60.
Million tonnes
Hamersley's total sales of iron ore to major markets in 2005
China
49.5
Japan
24.5
Other Asia
14.1
Europe
2.0
Total
90.1
Note
This table includes 100 per cent of all sales through joint ventures.
Robe River Iron Associates
(Rio Tinto: 53 per cent)
Robe
    River Iron Associates (Robe) is an unincorporated joint venture in which
    Mitsui (33 per cent), Nippon Steel (10.5 per cent) and Sumitomo Metal Industries
    (3.5 per cent) also have interests. Robe is the world's fourth largest
    seaborne trader in iron ore, employing approximately 1,000 people, with many
employees transferred to Pilbara Iron.
Robe operates two open pit mining operations
in Western Australia. Mesa J is located in the Robe Valley, north of the town
of Pannawonica. The mine produces Robe River fines and lump, which are pisolitic
iron ore products. The West Angelas mine, opened in 2002, is located approximately
100 kilometres west of the town of Newman. The mine produces West Angelas fines
and lump, which are Marra
Mamba iron ore products.
Further
expansion of the West Angelas mine was completed ahead of schedule in October
2005, taking the mine's production capacity to 25 million
tonnes per annum. This US$105 million project increased Robe's production
capacity to a nominal 57 million tonnes per year.
Robe
uses a dedicated rail system, operated by Pilbara Iron, to transport ore from
its mines to the company's deepwater port facilities at Cape
Lambert. The US$200 million rail expansion project to duplicate almost 100
kilometres of track and associated interconnection and infrastructure to increase
the capacity of the Pilbara Iron main line is progressing well, with the southern
section completed in 2005 and the northern section on schedule for completion
in mid-2006.
Robe primarily exports under medium and long term supply contracts with major integrated steel mill customers in Japan, Europe, South Korea and
China.
2005 operating performance
Robe's
total production in 2005 was 52.4 million tonnes, comprising 31.0 million tonnes
from Mesa J, and 21.4 million tonnes from West Angelas. Sales were 31.1 million
tonnes of
Mesa J and 21.5 million tonnes of West Angelas products.
Sales
growth was based on increased production from West Angelas and focused primarily
on China, where Robe achieved record total sales of 17.5 million tonnes. Overall,
Japan remains Robe's largest market with total shipments in 2005 of more
than 26 million tonnes.
Improved understanding of the orebody at West Angelas resulted in a change in mining strategy, using in-pit stockpiles to reduce grade variation.
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Safety performance improved, with Robe recording a lost time frequency rate of 0.46 compared with 1.03 in 2004, helping to reduce Pilbara Iron's
rate of 0.51 from 0.71 in 2004.
Million
      tonnes
Robe's total sales of iron ore to major markets in 2005
Japan
26.1
China
17.5
Europe
7.3
Other
      Asia
1.7
Total
52.6
Iron Ore Company of Canada
(Rio Tinto: 58.7 per cent)
Rio
  Tinto's interest in Iron Ore Company of Canada (IOC) is 58.7 per cent. Mitsubishi (26.2 per cent) and the Labrador Iron Ore Royalty Income Fund (15.1 per cent) are also
  shareholders in IOC, Canada's largest iron ore pellet producer. IOC operates
  an open pit mine, concentrator and pellet plant at Labrador City, Newfoundland
  and Labrador, together with a 420 kilometre railway to port facilities and
  the partially refurbished pellet plant at Sept-Iles, Quebec. IOC has large
  quantities
  of ore reserves with low levels of contaminants.
Products
are transported on IOC's railway to Sept-Îles. The port is open all
year, handles ore carriers of up to 255,000 tonnes, and provides competitive
access to all seaborne pellet markets and to the North American Great Lakes region.
IOC exports its concentrate and pellet products to major North American, European
and Asian steel makers.
IOC employs approximately 1,750 people.
2005 operating performance
Strong demand for IOC products in 2005 resulted in record pellet sales of 12.9 million tonnes and concentrate sales of 2.1 million tonnes. IOC produced 13.3 million tonnes of pellets,
  beating the previous record by more than ten per cent, and produced 2.3 million tonnes of concentrate for sale. The new labour agreement signed in late 2004 has delivered significant productivity increases. IOC continues to reduce unit costs and
  achieve incremental production improvement through its ongoing Renewal business improvement programme, which commenced in 2002. IOC is currently evaluating options to increase both pellet and concentrate production.
IOC received accreditation under ISO 14001 in 2005.
Million
      tonnes
IOC's
      total sales of iron ore to major markets in 2005
Europe
6.8
North
      America
4.8
Asia
      Pacific
3.4
Total
15.0
Mineração Corumbaense Reunida (Corumbá)
(Rio Tinto: 100 per cent)
Corumbá produced 1.4 million tonnes of lump iron ore in 2005, and sold 1.3 million tonnes which was barged along the Paraguay River to South American and European customers.
During the year, the mine and plant were expanded to two million tonnes per annum capacity, and a new barge convoy was added to the fleet. The feasibility of expanding production at the mine in stages to 15 million tonnes per annum is under study.
Logistic options are being considered for expanded export sales, including supplies to a proposed steel making project at Corumbá. Corumbá has
over 200 million tonnes of reserves. There are approximately 450 employees.
HIsmelt®
(Rio Tinto: 60 per cent)
The
HIsmelt® iron making project at Kwinana in Western Australia is a joint venture between Rio Tinto (60 per cent interest through its subsidiary, HIsmelt® Corporation), US
steelmaker Nucor Corporation (25 per cent), Mitsubishi Corporation (ten per cent), and Chinese steelmaker Shougang Corporation (five per cent). The project has received approval for Australian federal government support of A$125
million.
The
HIsmelt® process is a direct iron smelting technology developed largely by
Rio Tinto that converts iron ore fines into high quality pig iron (96 per cent
iron content) without the use of coke ovens and sinter plants. Notably, the technology
allows efficient processing of ore fines with higher levels of impurities.
A
pilot plant to demonstrate the technology has been expanded to commercial scale
at a cost of US$200 million. During 2005 the plant moved into
operating phase and will now ramp up production. It is expected to reach its
full production rate of 800,000 tonnes per year over the next three years. The
iron produced will be sold as pig iron once sufficient stocks have been built
up.
Hot
commissioning began in April 2005, with the first quantities of hot metal produced
in mid June 2005. Production of the first 1,000 tonnes triggered the release
of A$50 million in federal government assistance for joint user infrastructure at the Kwinana site, in November 2005. Up to 31 March 2006 the plant has produced more than 13,000 tonnes of hot metal. HIsmelt® has
approximately 100
employees.
HIsmelt® has signed two process licence agreements with Chinese steelmakers to allow for the development of ironmaking facilities using HIsmelt® technology,
using the facility at Kwinana as a template.
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Iron ore group projects
Hope Downs
(Rio Tinto: 50 per cent)
Agreement was reached in July 2005 to purchase a 50 per cent interest in the Hope Downs project which will be developed by Rio Tinto under an unincorporated joint venture with Hancock
    Prospecting Pty.
Following
Western Australian Government approval and ratification of the Hope Downs Joint
Venture in April 2006 it was announced that an immediate start would be made
on the construction of the US$1.0 billion project. Stage one, at an estimated cost of US$590
million is expected to have an annual capacity of 22 million tonnes, with first
production expected in early 2008. On completion of Stage two the annual capacity
of the mine is expected to be 30 million tonnes.
In
addition Rio Tinto would commit US$390 million to the capital cost of the
rail, rolling stock and power infrastructure required for this
development.
Orissa,
            India
(Rio
  Tinto: 51 per cent)
Orissa is one of the key iron ore regions of the world. RTIO has a 51 per cent interest in Rio Tinto Orissa Mining, a joint venture with the state owned Orissa Mining Company. The
    joint venture holds rights to iron ore leases in Orissa, which it is seeking to develop. Rio Tinto is keen to participate in the development of the Indian iron ore sector through its joint venture, and has appointed a project director to expedite
    the development of operations in India.
With
economic growth in India forecast to continue strongly, supporting a growing
domestic steel industry, discussions have continued with major domestic  steel
companies.
Simandou
(Rio
    Tinto: 100 per cent)
The Simandou deposit in Guinea, west Africa, is a greenfields discovery with potential to host significant resources of high grade iron ore. Simandou moved from Rio Tinto Exploration
  to full project status as part of RTIO in October 2004. A prefeasibility study, scheduled for completion at the end of 2006, will assess mining and transport options necessary to bring Simandou into production as quickly as possible.
ENERGY
      GROUP
Coal
Energy
(Rio
      Tinto share)
Underlying
millions
      tonnes
Earnings
      contribution*
MINED
US$m
*
The
      amounts presented exclude net interest and other centrally reported items.
      A reconciliation with net earnings for 2004 and 2005 is set out in Note
      2 to the 2005 Financial statements. Product group earnings for 2004 and
      2005 are based on underlying earnings as determined under EU IFRS.
The Rio Tinto Energy Group comprises uranium, thermal coal and coking coal operations. Rio Tinto Energy group's coal interests are in Australia and the US. They supply
internationally traded and domestic US and Australian markets. The portfolio also includes Rössing Uranium in Namibia and Energy Resources of Australia which supply uranium oxide for electricity generation.
In December 2005 Energy Resources of Australia Ltd (ERA) and Rössing Uranium approved the appointment of Rio Tinto Uranium to undertake marketing
and sales services and sales contract administration for them. Rio Tinto Uranium will undertake a centralised marketing role for Rio Tinto's two uranium producers through a network of representatives in key markets. This will give a single
point of contact for customers and greater efficiencies for ERA and Rössing.
The Energy group is a leading advocate of, and investor in, the sustainable development aspects of the future uses of coal and uranium. In 2005 the
Energy group dedicated resources and investment funds to the FutureGen project in the US, the COAL21 project in Australia and the International Energy Agency Clean Coal Centre.
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At 31 December 2005, the Energy group accounted for 14 per cent of Group operating assets and, in 2005, contributed 19 per cent of Rio Tinto's gross
turnover and 15 per cent of underlying earnings.
Preston Chiaro, chief executive Energy, is based in London.
Financial performance
2005
          compared with 2004
The Energy group's 2005 contribution to underlying earnings was US$733 million, US$302 million higher than in 2004.
Results benefited from a significant increase in the price received for both thermal and coking coal during 2005. Third party infrastructure issues
continued to impede production growth in all of the coal operations. Operations focused on shifting emphasis to high margin products and facilitating the further expansion of the Hail Creek mine into a strong market for coking coal. The inability to
reap the required economies of scale and the rise in fuel prices and explosives resulted in a rise in the unit cost of production across the group.
Spot prices for uranium oxide strengthened considerably during the period increasing from US$20.43 at the beginning of the year to close at
US$36.00 in December 2005. The significant rise in the spot price of uranium oxide during the period is not fully reflected in the current earnings. Uranium oxide is typically sold on long term contracts with pricing determined several years
out. The impact of the 2005 pricing levels is expected to flow through to earnings in future years.
Rio Tinto Energy America
(Rio Tinto: 100 per cent)
Rio
Tinto Energy America (RTEA) (formerly Kennecott Energy) wholly owns and operates
four open cut coal mines in the Powder River Basin of Montana and Wyoming, US
and has a 50 per cent interest in, but does not operate, the Decker mine in Montana.
RTEA also manages the group's interest in Colowyo Coal in Colorado, US.
In total it employs approximately 2,000 people.
One of the largest US producers, RTEA sells its ultra low sulphur coal to electricity generators predominantly in mid western and southern states. Sales
are made under multiple year contracts and on a spot basis for one year or less.
The
domestic US market for low sulphur coal continues to grow due to its competitive
cost per delivered energy unit and restrictions on sulphur emissions by utilities.
For example, the price of sulphur emission allowances (a reward for higher specification
coal) increased during the period from US$800 to US$1,700 per tonne of
emissions. Continued strong demand for low cost and low sulphur western coal
is expected to increase with the announcement of numerous new coal fired generation
projects and increased utilisation of existing coal generation capacity in the
US.
2005
            operating performance
RTEA's attributable production of 116 million tonnes of coal was two per cent lower than in 2004 primarily as a result of third party rail line disruptions. During 2005
  production records were set at the premium coal producing Spring Creek and Antelope mines. Underlying earnings of US$135 million were 25 per cent lower than 2004 earnings of US$180
  million. This decrease was due to lower overall production, a higher effective
  tax rate, and increased operational costs, particularly the cost of diesel fuel
  and explosives.
Spot
  prices increased substantially during the period. The spot price for 8800 BTU
  (0.80 sulphur) increased from US$6.00 per ton to US$22.50 per
  ton for delivery in the first quarter of 2006.
Safety
  performance improved again in 2005 compared to 2004, with the Spring Creek mine
  continuing to set new safety records. RTEA's lost time injury
  frequency rate declined from 0.69 to 0.42 in 2005.
Rio Tinto Coal Australia
(Rio Tinto: 100 per cent)
Rio
Tinto Coal Australia (RTCA), formerly Pacific Coal, manages the Group's
Australian coal interests. These include in Queensland the Blair Athol (Rio Tinto:
71 per cent), Kestrel (Rio Tinto: 80 per cent), Tarong (Rio Tinto: 100 per cent)
and Hail Creek (Rio Tinto: 82 per cent) coal mines and the Clermont deposit (Rio
Tinto: 50 per cent).
RTCA
also provides management services to Coal & Allied Industries (Coal & Allied) for operation of its four mines located within the Hunter
Valley in New South Wales. Coal & Allied (Rio Tinto: 75.7 per cent) is publicly listed on the Australian Stock Exchange and had a market capitalisation of A$4.46 billion (US$3.27 billion) at 31 December 2005. Coal & Allied wholly
owns Hunter Valley Operations, has an 80 per cent interest in Mount Thorley Operations and a 55.6 per cent interest in the contiguous Warkworth mine, and a 40 per cent interest in the Bengalla mine which abuts its wholly owned Mount Pleasant
development project. Coal & Allied also has a 37 per cent interest in Port
Waratah Coal Services coal loading terminal.
About 60 per cent of Blair Athol thermal coal is sold to its two Japanese joint venture partners under contracts extending to 2008 and 2010. The rest is
sold by long term and annual agreements to European and southeast Asian customers.
Production from the Tarong mine is sold exclusively to Tarong Energy Corporation, an adjacent state owned power utility. A ten year contract for up to
7.5 million tonnes annually expires at the end of 2010.
Kestrel, the only underground mine in the portfolio, sells mainly metallurgical coal to customers in Japan, south east Asia, Europe and Central America
generally on annual agreements.
Following the first commercial shipments in October 2003, the Hail Creek coking coal mine increased its production from 5.1 million tonnes in 2004 to 5.9
million tonnes during 2005.
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Coal & Allied produces thermal and semi soft coal. Most of its thermal coal is sold under contracts to electrical or industrial customers in Japan,
Korea and elsewhere in Asia. The balance is sold in Europe and Australia. Coal & Allied's semi soft coal is exported to steel producing customers in Asia and Europe under a combination of long term contracts and spot business.
RTCA
and Coal & Allied collectively employ approximately 2,200 people.
2005
          operating performance
RTCA
and Coal & Allied combined underlying earnings of US$572 million in 2005
were 142 per cent higher than in 2004 due to increased production from Hail Creek
and improved
prices.
At
all operations other than Tarong and Kestrel sales were constrained by insufficient
infrastructure to meet producer demand. Blair Athol and Hail Creek shipments
were both affected by infrastructure constraints at the Dalrymple Bay Coal Terminal
(DBCT) whereas Coal & Allied mines were similarly affected at Port Waratah.
The Port Waratah Coal Services Port Allocation System was introduced in April
2004 to limit ship queues and reduce demurrage. Its successor, the Capacity Balancing
System, which will continue at least through 2007, enables producers to swap
and trade surplus capacity. In April 2005 the Australian Competition and
Consumer Commission granted authorisation for a similar queue management system
at DBCT. The queue system allocates the scarce capacity at the port and associated
rail system until 2008 when new capacity is expected to become available.
Production
decreased at Blair Athol from 12.2 million tonnes to 10.6 million tonnes primarily
as a result of shifting limited port capacity to Hail Creek
product. Kestrel's production increased 13 per cent to 3.7 million tonnes
in 2005 including 2.9 million tonnes of coking coal. At Tarong, production decreased
by eight per cent to 6.5 million tonnes in line with decreased demand from Tarong
Energy Corporation. Hail Creek production was 5.9 million tonnes of which 5.2
million tonnes were shipped.
At Hunter Valley Operations production decreased from 13.3 million tonnes to 12.4 million tonnes while sales were 12.8 million tonnes. The integrated
Mount Thorley Warkworth operations held production at 10.3 million tonnes while sales were 10.9 million tonnes. At Bengalla, production increased from 5.3 million tonnes to 6.0 million tonnes while sales were 5.4 million tonnes.
Safety performance and awareness continues to be a major focus of all operations managed by RTCA. The overall lost time injury frequency rate declined
from 1.29 in 2004 to 0.52 in 2005.
Rössing Uranium
(Rio Tinto: 68.6 per cent)
Rössing produces and exports uranium oxide from Namibia to European, US and Asia Pacific electricity producers. In December 2005, approval was granted to extend the life of the
operation until at least 2016 and restore annual production capacity to 4,000 tonnes per annum at a total incremental and sustaining capital cost of US$112 million. Rössing
employs approximately 800 people.
2005
            operating performance
In
  2005 production increased by four per cent to 3,700 tonnes of uranium oxide as
  a result of higher plant availability and improved market conditions. Higher
  realised prices were somewhat offset by the further strengthening of the Namibian
  dollar against the US dollar resulting in a US$2 million underlying earnings
  contribution in 2005.
In
  2005, Rössing regrettably suffered a fatality at the operation. Rössing
  continues to put a significant effort and management focus on safety. The focus
  is to eliminate all injuries from the workplace and to have an embedded safety
  culture and systems that identify and rectify potential safety incidents. The
  lost time injury frequency rate for 2005 rose to 0.48 from 0.08 in
  2004.
Energy Resources of Australia
(Rio Tinto: 68.4 per cent)
Energy
Resources of Australia Ltd (ERA) is publicly listed and had a market capitalisation
of A$1.88 billion (US$1.38 billion) at 31 December 2005. ERA employs
approximately 300 people with 13 per cent of the operational workforce represented
by Aboriginal people.
ERA produces uranium oxide at the Ranger open pit mine, 260 kilometres east of Darwin in the Northern Territory. ERA also has title to the nearby
Jabiluka mineral lease, which in 2003 was put on long term care and maintenance.
Ranger
has a 5,500 tonnes per year nameplate capacity and started production in 1981.
ERA's operations including Jabiluka are surrounded by, but
remain separate from, the World Heritage listed Kakadu National Park and especially
stringent environmental requirements and governmental oversight apply.
2005
          operating performance
Uranium
oxide production of 5,900 tonnes was above the 5,100 tonnes produced the previous
year. Sales tonnes were 5,688, a 1.5 per cent increase on 2004 sales and a new
record for the company. Stronger prices were partially offset by higher fuel
prices and consumables resulting in underlying earnings of US$24 million, an increase of US$5
million from 2004.
Safety performance improved considerably with a reduction in lost time injury frequency rate from 3.37 in 2004 to 0.91 in 2005.
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INDUSTRIAL
      MINERALS GROUP
Borates
Titanium
      dioxide
Industrial
      Minerals
(Rio
      Tinto share)
(Rio
      Tinto share)
Underlying
'000
      tonnes B
2
O
3
'000
      tonnes
Earnings
      contribution*
PRODUCTION
PRODUCTION
US$m
*
The
      amounts presented exclude net interest and other centrally reported items.
      A reconciliation with net earnings for 2004 and 2005 is set out in Note
      2 to the 2005 Financial statements. Product group earnings for 2004 and
      2005 are based on underlying earnings as determined under EU IFRS.
Rio Tinto's Industrial Minerals group produces borates, talc, industrial salt, and titanium dioxide feedstock. It is a global leader in the supply and science of these products.
Beginning in 2006, Rio Tinto Borax, Luzenac Talc and Dampier Salt are combining their management and systems to form a new organisation, Rio Tinto Minerals. Together with Rio Tinto Iron & Titanium, the two will form the Industrial Minerals
product group effective in 2007.
At 31 December 2005, Industrial Minerals accounted for 14 per cent of the Group's operating assets and contributed approximately 12 per cent of Rio
Tinto's gross turnover and four per cent of underlying earnings in 2005. Approximately 7,000 people were employed in 2005.
Andrew Mackenzie, chief executive Industrial Minerals, is based in London.
Financial performance
2005
          compared with 2004
Industrial Minerals' contribution to 2005 underlying earnings was US$187 million, 23 per cent lower than in 2004, reflecting significant one-off costs of US$42 million
after tax, including provision for Minerals restructuring in relation to the formation of Rio Tinto Minerals. There were also increased energy and distribution costs at all business units.
Dampier Salt and Rio Tinto Iron & Titanium incurred high initial operating costs for commissioning of a new plant and the upgraded titanium slag
(UGS) expansion respectively. Rio Tinto Iron and Titanium also incurred a tax expense of US$13 million resulting from a change in the tax rate for QIT-Fer et Titane in Quebec.
Rio Tinto Borax's earnings were 48 per cent lower at US$48 million. The borates business was impacted by lower sales volumes and increasing
energy and distribution costs. Rio Tinto Borax also incurred a one-off restructuring cost of US$12 million after tax in relation to the formation of Rio Tinto Minerals.
Rio Tinto Iron & Titanium earnings at US$128 million were ten per cent higher than in 2004. Strong price performance across all products,
combined with increased volumes and strict cost performance at Richards Bay Minerals led to this strong performance.
Rio Tinto Minerals
Rio Tinto Borax
(Rio Tinto: 100 per cent)
Rio
Tinto Borax's Boron mine in California's Mojave Desert is the world's
largest borate mine by volume. Borates are used in the US for vitreous applications,
such as fibreglass, glass wool, high temperature glasses and enamels. The perborate
industry, a major market in Europe, uses borates as bleach in detergents. Other
uses include ceramics, fertilisers, flame retardants, wood preservatives and
corrosion
inhibitors.
Rio
Tinto Borax's US and UK research laboratories provide technical support
and participate in collaborative projects with customers.
2005
  operating performance
Production
  volumes were steady at 560,000 tonnes. Sales volumes were three per cent lower
  than 2004, in both North America and Europe as a result of increased competition
  and economic slowing. However, the borate markets continue to benefit from
  a robust North American housing market, a strong thin film transistor (TFT)
  liquid crystal display (LCD) market in Asia and the continued penetration of
  borates used for wood
preservation. Hurricanes Katrina and Rita further weakened North American sales
  performance during the second half as customer's product supply chains
  were disrupted. In some cases production lines were dedicated entirely to non-borate
  containing building materials in order to maximize throughput and provide assistance
  during the relief efforts.
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An approximate 30,000 tonne expansion of the boric acid plant at Boron (about ten per cent of current capacity) was completed in May 2005 on time and
under budget, delivering planned throughput. A further 56,000 tonnes increase is under construction. This project is on plan and on budget with a planned start up date of the end of the second quarter of 2006.
Luzenac Group
(Rio Tinto: 100 per cent)
The
Luzenac Group operates talc mines, including the world's largest, in south
west France, and processing facilities in Australia, Austria, Belgium, Canada,
France, Italy, Japan, Mexico, Spain, the UK and the US. Rio Tinto acquired the
last remaining Luzenac shareholding during 2005, taking its ownership from 99.9
per cent to 100 per cent.
Luzenac products are used internationally. Principal uses are in paper, paints, cosmetics, ceramics, agricultural and plastics industries.
2005 operating performance
Luzenac made a US$3 million loss in 2005 as a result of a US$18 million provision taken in relation to restructuring costs on the formation of Rio Tinto Minerals.
Luzenac's production in 2005 was two per cent lower than 2004 at 1.41 million tonnes.
Likewise sales volumes were slightly lower than 2004, while prices showed a slight improvement.
Dampier Salt
(Rio Tinto: 64.9 per cent)
Dampier
Salt is the world's largest salt exporter. It produces industrial salt by
solar evaporation at Dampier, Port Hedland and Lake MacLeod, where it also mines
gypsum, in
Western Australia.
The
chemical industry in Asia is the principal customer for Dampier's salt while gypsum's
main use is in wallboard and cement
manufacture.
2005 operating performance
Dampier Salt's earnings in 2005 were US$14 million, slightly above 2004 earnings of US$13 million. While trading conditions were improved through higher volumes, earnings
were impacted by difficulties during the commissioning of a new process plant at Dampier and escalating costs in north western Australia. Salt production was 15 per cent higher than in 2004, at 8.5 million tonnes (Rio Tinto share: 5.5 million
tonnes).
Rio Tinto Iron & Titanium
(Rio Tinto: 100 per cent)
Rio
Tinto Iron & Titanium (RIT) comprises the wholly owned QIT-Fer et Titane
(QIT) in Quebec, Canada and the 50 per cent interest in Richards Bay Minerals
(RBM) in KwaZulu-Natal, South Africa. Both produce titanium dioxide feedstock
used by customers to manufacture pigments for paints and surface coatings, plastics
and paper, as well as iron and zircon co-products.
QIT's
proprietary process technology enables it to supply both the sulphate and chloride
pigment manufacturing methods. Its upgraded slag (UGS) plant supplies the growing
chloride sector and is designed for expansion in line with demand up to a capacity
of 600,000 tonnes per year. During 2005 RIT delivered an expansion of its UGS
plant to 325,000 tonnes per annum, and announced a further
expansion to 375,000 tonnes which will be delivered in 2006.
RBM's
ilmenite has a low alkali content which makes its feedstock suitable for the
chloride pigment process. RBM has the capacity to produce one million tonnes
of feedstock annually.
2005 operating performance
Production disruptions induced by hurricanes in the US gulf coast tightened supply, allowing pigment prices to increase throughout 2005, a factor in RIT's strong performance.
Market conditions remained tight for chloride feedstocks, as chloride pigment plants continued to run at high utilisation rates.
Demand for very high grade feedstock products, such as QIT's upgraded titanium slag, remained strong. Sulphate markets continued to remain soft.
Market conditions for RIT's iron and steel co-products remained strong in the first half of 2005 but fell in May as scrap prices declined due to weakening global demand and higher Chinese pig iron exports. Prices stabilised after
September.
Zircon prices continued to increase in 2005, as markets continued to get stronger, reflecting a very tight global supply and demand balance. Zircon
production was 16 per cent higher than in 2004. Titanium dioxide feedstock production was ten per cent higher than in 2004, principally due to RBM's contribution which reflected the return to full production of a furnace. Likewise, upgraded
titanium slag production was 15 per cent higher than in 2004 due to the UGS expansion,
Industrial minerals group projects
QIT Madagascar Minerals
(Rio Tinto: 80 per cent)
RIT manages QIT Madagascar Minerals (QMM), in which an agency of the Government of Madagascar has a 20 per cent interest. QMM was formed to evaluate large mineral sand deposits in the
south east of Madagascar.
In
2005 Rio Tinto announced the approval of a US$775 million titanium dioxide project. The project comprises a US$585 million mineral sands
operation and port in Madagascar and a US$190 million upgrade of Rio Tinto's
ilmenite facilities in Canada. First production from the operation in the Fort
Dauphin region is expected in late 2008 and the initial capacity will be 750,000
tonnes per year of ilmenite.
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The ilmenite will be smelted at Rio Tinto's facilities at Sorel in Quebec. This will require an upgrade of storage and handling facilities as well
as their associated ancillary services. With a grade of 60 per cent titanium dioxide, the Madagascar orebody is the largest known undeveloped high grade ilmenite deposit. It has an expected mine life of 40 years and will supply a new, high quality
chloride slag with 91 per cent titanium dioxide content to meet long term demand for titanium dioxide by the pigment industry.
A deep sea multi-use public port at Ehoala, near the town of Fort Dauphin, will be an important component of the project. The mine will be a key initial
customer, providing the base load to help establish the port. Over time, it is expected the port will make an important contribution to economic development of the region.
The Government of Madagascar has agreed to contribute US$35 million to the establishment of the port, as part of its Growth Poles Project funded by
the World Bank. QMM will manage the port operations. At the end of the life of the mine, the port will fall under the responsibility and control of the Government of Madagascar.
Extensive engagement and consultation with the Government of Madagascar and local people and leaders has taken place over many years. The World Bank is
involved in a development role and NGOs, including the Royal Botanic Gardens Kew and Missouri Botanical Gardens, have been involved in planning environmental and conservation strategies.
Potasio Rio Colorado SA
(Rio Tinto: 100 per cent)
Rio Tinto has exercised its option to acquire 100 per cent of Potasio Rio Colorado S.A. and take ownership of the potash project it has been evaluating since 2003.
The decision to exercise the option early was based on the positive results of evaluation work to date. The resource is large scale and of high
mineralogical and structural quality and consistency. However, much work remains to be done before Rio Tinto makes a decision to take the project into production.
Assuming positive progress of the project, it is expected that a final feasibility study will be completed by the end of 2006 and subject to the outcome,
development could take place from early 2007 with first production in the middle of 2009. Production volumes currently being evaluated are in the range of 1.6 to 2.4 million tonnes per annum.
ALUMINIUM
  GROUP
Weipa bauxite
Alumina
Aluminium
Rio Tinto Aluminium
(Rio Tinto share)
(Rio Tinto share)
(Rio Tinto share)
Underlying
million tonnes
'000 tonnes
'000 tonnes
Earnings contribution*
MINED
PRODUCTION
PRODUCTION
US$m
*
The
      amounts presented exclude net interest and other centrally reported items.
      A reconciliation with net earnings for 2004 and 2005 is set out in Note
      2 to the 2005 Financial statements. Product group earnings for 2004 and
      2005 are based on underlying earnings as determined under EU IFRS.
Rio Tinto
      Aluminium (RTA) is made up of Rio Tinto's wholly owned, group integrated
      aluminium subsidiary, Comalco, and its 51 per cent share in Anglesey Aluminium.
At 31 December 2005, the Aluminium group accounted for 21 per cent of Rio Tinto's operating assets and in 2005 contributed 13 per cent of Group
gross turnover and eight per cent of underlying earnings.
Oscar Groeneveld, chief executive Aluminium, is based in Brisbane, Australia.
Financial performance
2005 compared with 2004
RTA's contribution to 2005 underlying earnings was US$392 million, an increase of 18 per cent.
Stronger aluminium prices increased earnings by US$106 million with the average aluminium price in 2005 at 86 US cents per pound compared with 78 US
cents per pound in 2004. The effect of the weakening US currency reduced Aluminium's earnings by US$34 million.
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Rio Tinto Aluminium
(Rio Tinto: 100 per cent)
Rio Tinto Aluminium (RTA) is a major supplier of bauxite, alumina and primary aluminium to world markets. It employs about 4,300 people.
RTA
has a large, wholly owned bauxite mine at Weipa on Cape York Peninsula, Queensland.
A US$150 million mine expansion was completed on time to
supply the bauxite requirements of the Comalco Alumina Refinery. Approximately
90 per cent of the bauxite from Weipa is shipped to alumina refineries at Gladstone,
Queensland, and Sardinia, Italy.
Construction
of the first stage of the wholly owned Comalco Alumina Refinery at Gladstone
in Queensland was completed in late 2004, ahead of schedule and close to the
budget of US$750 million. Rated capacity is expected to be reached by the end of 2006. There is potential for capacity to be increased to over four million tonnes. The majority of the refinery's Stage One output will go into
RTA smelters. The balance will be placed in the traded alumina market. The refinery enables RTA to add further value to the Weipa bauxite deposit and strengthen both RTA's and Australia's
positions in the world alumina market.
RTA
owns 38.6 per cent of Queensland Alumina Limited in Gladstone, the world's largest alumina refinery in terms of production and also owns 56.2
per cent of the Eurallumina refinery in Sardinia, Italy. RTA's primary aluminium
is produced by smelters at Boyne Island at Gladstone (59.4 per cent), Bell Bay
(100 per cent) in Tasmania, Tiwai Point (79.4 per cent) in New Zealand and Anglesey
Aluminium (51 per cent) in Wales, UK.
In 2003, Comalco signed a long term alumina supply agreement with Norsk Hydro, to supply 300,000 tonnes of alumina in 2005 and then 500,000 tonnes of
alumina per year for more than 20 years. This agreement underpins the investment in the Comalco Alumina Refinery.
2005 operating performance
Bauxite production at Weipa reached record levels in 2005 at 15.5 million tonnes, 22 per cent higher than in 2004. This was due to the successful commissioning of the first stage of
Project NeWeipa, which led to increased production from both the East Weipa and Andoom mines.
Weipa bauxite shipments increased 22 per cent, to 15.0 million tonnes.
Rio
Tinto's share of alumina production for 2005 was 33 per cent higher than
2004. Comalco Alumina Refinery produced 835,000 tonnes as efforts continued to
improve the reliability of the pumps feeding the digestion circuit. QAL production
increased by five per cent compared to 2004, a record production for the refinery.
Eurallumina production increased one per cent over 2004
levels.
RTA's
share of aluminium production from its four smelters, at 854,000 tonnes, was
17,000 tonnes above 2004 production. Attributable metal shipments for 2005 were
859,000 tonnes, an increase of 18,000 tonnes, and went to primarily Japan, Korea,
Australia, South East Asia and Europe.
Aluminium group projects
Weipa mine expansion
(Rio Tinto 100 per cent)
In
2005, RTA continued to invest in the Weipa bauxite mine to underpin the 2004
expansion to a simultaneous mining operation. This investment included replacing
the existing power
station with a new US$40 million 26 megawatt power station. The new power station will service the mining operation and surrounding communities. The other major expenditure at Weipa was on a second US$60 million shiploader to ensure
reliability of bauxite supply to customers. A further US$19 million was spent
on additional tailings storage for the Andoom mine.
COPPER
GROUP
Copper
Copper
Gold
Copper group
(Rio Tinto share)
(Rio Tinto share)
(Rio Tinto share)
Underlying
'000 tonnes
'000 tonnes
'000 tonnes
Earnings contribution*
MINED
REFINED
MINED
US$m
*
The
        amounts presented exclude net interest and other centrally reported items.
        A reconciliation with net earnings for 2004 and 2005 is set out in Note
        2 to the 2005 Financial statements. Product group earnings for 2004 and
        2005 are based on underlying earnings as determined under EU IFRS.
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Rio Tinto's Copper group comprises Kennecott Utah Copper in the US and interests in the copper mines of Escondida in Chile, Grasberg in Indonesia, Northparkes in Australia,
Palabora in South Africa, and the Resolution Copper project in the US. The group also has management responsibility for Kennecott Minerals Company in the US.
At 31 December 2005, the Copper group, which also produces gold and molybdenum as significant by-products, accounted for 17 per cent of the Group's
operating assets and, in 2005, contributed approximately 23 per cent of Rio Tinto's gross turnover, of which 61 per cent was from copper, 20 per cent from molybdenum and the remainder mostly from gold. It accounted for 41 per cent of underlying
earnings in 2005.
Tom Albanese, chief executive Copper and Exploration, is based in London. Bret Clayton will be appointed chief executive Copper on 1 July 2006, when Tom
will be appointed director, Group Resources.
Financial performance
2005 compared with 2004
The Copper group's contribution to underlying earnings was US$2,020 million, US$1,160 million higher than in 2004. The average price of copper was 166 US cents per pound
compared to 130 US cents in 2004. The average price of molybdenum was US$30.70 per pound compared to US$14.60 per pound in 2004. The average gold price of US$444 per ounce increased by nine per cent.
Kennecott Utah Copper's contribution to underlying earnings of US$1,037 million compared with US$311 million in 2004. Molybdenum production
was significantly increased due to a refocus of the mine plan in response to significantly higher molybdenum prices.
Rio Tinto's share of underlying earnings from Escondida increased by US$196 million to US$602 million. Mined production of copper was up
five per cent.
The underlying earnings contribution from the Grasberg joint venture increased by US$200 million to US$232 million chiefly as a result of the
continuation of full production after the material slippage in October 2003.
Palabora
recorded a profit of US$19 million in 2005 due to improved performance of
underground production.
Kennecott Utah Copper
(Rio Tinto: 100 per cent)
Kennecott Utah Copper (KUC) operates the Bingham Canyon mine, Copperton concentrator and Garfield smelter complex, near Salt Lake City, US.
KUC supplies more than ten per cent of annual US refined copper requirements and employs approximately 1,600 people.
KUC provides some management services to the wholly owned Barneys Canyon gold mine due to its proximity to Bingham Canyon. Mining and milling at Barneys
Canyon ended in 2001 and gold production will cease after 2006. The operation employs about 20 people.
2005 operating performance
Performance in 2005 was dominated by molybdenum prices and production, which was achieved with some sacrifice of copper concentrate production. In order to take advantage of the
strong market for molybdenum, mine production was optimised and an expansion of the molybdenum plant, which is designed to increase recoveries, was completed in June 2005. Molybdenum production was 130 per cent higher than in 2004. The focus on
maximising molybdenum production enhanced overall margins notwithstanding a rise in associated costs.
Refined copper production was six per cent lower than in 2004. In addition to the lower copper grades as a result of optimising molybdenum production,
production was also affected by a 17 day planned smelter maintenance shutdown. A further 45 day shutdown is planned for the second half of 2006, drawing on lessons learned from the successful shutdown in 2005.
A project to enlarge the Bingham Canyon open pit was approved in February 2005. The East 1 pushback is expected to extend the life of the open pit to
2017. Capital expenditure on the project is budgeted to be US$100 million for mine facilities, a concentrator upgrade and mobile equipment, and US$70 million after 2008 for the relocation of the in pit crusher and dewatering facilities. Mine
development options from 2017 will be reviewed in the context of the decision to proceed with the East 1 pushback, and include various open pit and underground alternatives.
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2003
2004
2005
Principal
      operating statistics at KUC 2003 – 2005
Rock
      mined ('000 tonnes)
135,204
129,196
140,906
Ore
      milled ('000 tonnes)
46,105
45,712
46,664
Head
      grades
Copper
      (%)
0.67
0.63
0.53
Gold
      (g/t)
0.29
0.29
0.37
Silver
      (g/t)
3.02
3.04
3.23
Molybdenum
      (%)
0.027
0.033
0.058
Copper
      concentrates produced ('000 tonnes)
1,147
1,106
881
Production
      of metals in copper concentrates
Copper
      ('000 tonnes)
281.8
263.7
220.6
Gold
      ('000 ounces)
305
308
401
Silver
      ('000 ounces)
3,548
3,584
3,958
Molybdenum
      concentrates produced ('000 tonnes)
8.8
12.9
29.5
Contained
      molybdenum ('000 tonnes)
4.6
6.8
15.6
Concentrate
      smelted on site ('000 tonnes)
1,060
1,098
1,042
Production
      of refined metals
Copper
      ('000 tonnes)
230.6
246.7
232.0
Gold
      ('000 ounces)
308
300
369
Silver
      ('000 ounces)
2,963
3,344
3,538
Grasberg joint venture
(Rio Tinto: 40 per cent)
Grasberg,
in Papua, Indonesia, is one of the world's largest copper and gold mines in terms of reserves and production. It is owned and operated by Freeport Indonesia (PTFI), the
principal and 91 per cent owned subsidiary of the US based Freeport-McMoRan Copper & Gold
Inc. (FCX).
To
meet the mine's social obligations to local communities, at least one per cent of Grasberg's net sales revenues are committed to support
village based programmes. In addition, two new trust funds were established in 2001 in recognition of the traditional land rights of the local Amungme and Komoro tribes. In 2005, PTFI contributed US$36 million (net of Rio Tinto portion) and Rio
Tinto US$7 million in total to the funds.
As
a result of training and educational programmes, Papuans represented more than
a quarter of PTFI's approximately 9,000 workforce by the end of
2005.
2005 operating performance
Production in 2005 was significantly above 2004 when resources were dedicated to recovery from the 2003 material slippage. In 2005, Rio Tinto's share of production was calculated
using the adjusted joint venture allocation, known as the metal strip, which was agreed upon in December 2004, subject to certain production targets being met by PTFI. As production from Grasberg fell short of the agreed targets, Rio Tinto received
an additional 8,500 tonnes of copper as an increased allocation in December 2005.
2003
2004
2005
Principal
      operating statistics for PTFI 2003-2005
Ore
      milled ('000 tonnes)
74,103
67,750
78,907
Head
      grades
Copper
      (%)
1.09
0.87
1.13
Gold
      (g/t)
1.54
0.88
1.65
Silver
      (g/t)
4.03
3.85
4.88
Production
      of metals in concentrates
Copper
      ('000 tonnes)
715.8
516.4
793.9
Gold
      ('000 ounces)
3,262
1,584
3,546
Silver
      ('000 ounces)
6,474
5,037
7,531
Escondida
(Rio Tinto: 30 per cent)
The low cost Escondida copper mine in Chile is one of the largest copper mines in the world by annual production, with a mine life expected to exceed 30 years. The mine accounts for
approximately eight percent of world primary copper production. BHP Billiton owns 57.5 percent of Escondida and is the operator and product sales agent.
The
Escondida district hosts two of the largest porphyry copper deposit systems in
the world – Escondida and Escondida Norte, located five
kilometres from Escondida. Norte is expected to provide mill feed to maintain
capacity at Escondida above 1.2 million tonnes per annum of copper in concentrate
and cathode to the end of 2008 as existing Escondida mine grades decline. First
production from Norte occurred in the fourth quarter of 2005 with the ramp up
exceeding initial expectations. Low grade sulphide ore is currently being stockpiled
for processing in a bioleaching facility that is currently under construction.
The
sulphide leach project involves the use of bacteria to leach copper from sulphide
ores that would otherwise be discarded as waste. The project will produce 180,000
tonnes (Rio Tinto share 54,000 tonnes) of copper cathode metal per annum for
more than 25 years. Initial cathode production is planned for the second half
of 2006.
Escondida employs approximately 2,800 people directly, together with a similar number of contractor personnel.
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2005 operating performance
Escondida's mined copper production was five per cent higher than in 2004 largely due to higher milling rates at both concentrators. Ore delivery from Norte commenced in October
and the harder composition of ore did not result in reduced milling rates as previously expected. Overall, Escondida ore tonnes milled were four per cent higher. Cathode production was five per cent lower than in 2004 due to lower grade oxide ore
from unexpected high content of clay.
2003
2004
2005
Principal
      operating statistics at Escondida 2003-2005
Rock
      mined ('000 tonnes)
300,386
377,356
359,569
Ore
      milled ('000 tonnes)
70,347
82,378
86,054
Head
      grade
Copper
      (%)
1.43
1.51
1.53
Production
      of metals in concentrates
Copper
      ('000 tonnes)
847
1,046
1,127
Gold
      ('000 ounces)
184
217
183
Silver
      ('000 ounces)
4,728
5,747
6,565
Copper
      cathode ('000 tonnes)
147.6
152.1
143.9
Palabora
(Rio Tinto: 47.2 per cent)
Palabora Mining Company (Palabora) is a publicly listed company on the Johannesburg Stock Exchange and operates a mine and smelter complex in South Africa.
Palabora
has developed a US$465 million underground mine with a planned production
rate of at least 30,000 tonnes per day of ore. Approximately 700,000 tonnes of
copper are expected to be produced over the remaining life of the mine.
Palabora
supplies most of South Africa's copper needs and exports the balance. It
employs approximately 1,800 people and labour agreements are
negotiated annually.
2005 operating performance
Palabora recorded a net profit of US$19 million compared with net loss of US$21 million in 2004. Underground production for the year averaged 27,500 tonnes per day which is 16
per cent higher than 2004.
Production rates peaked in the month of May at 32,000 tonnes per day after the introduction of an employee productivity scheme. The average annual
production fell short of the target of 30,000 tonnes per day due to industrial action later in the year and maintenance issues on the north winder earlier in the year. The average ore grade was 0.72 per cent compared to 0.74 per cent in
2004.
As a result of mine production shortfalls and lower grades, concentrate production had to be supplemented by purchases of concentrate material to
optimise smelter throughput. Palabora will continue to purchase concentrates to supplement the smelter as capacity exceeds the mine output.
In August, Palabora finalised its lending facilities and entered into hedge contracts which were required as part of the refinancing. Forward pricing
contracts have been put in place representing 60 per cent of the budgeted underground production for the first three years and 30 per cent in the remaining five years of the loan facility.
In 2004, Palabora suffered a provision for asset impairment of US$161 million after tax and outside shareholders' interests. This was excluded
from underlying earnings.
2003
2004
2005
Principal operating statistics at Palabora 2003-2005
Ore milled ('000 tonnes)
11,415
8,657
9,536
Head grade
Copper (%)
0.59
0.74
0.72
Copper concentrates produced ('000 tonnes)
163.3
187.7
197.1
Contained copper ('000 tonnes)
52.4
54.4
61.2
New concentrates smelted on site ('000 tonnes)
267.6
253.4
304.4
Refined copper produced ('000 tonnes)
73.4
67.5
80.3
Northparkes
(Rio Tinto: 80 per cent)
Rio
Tinto's interest in the Northparkes copper-gold mine resulted from the acquisition
of North Ltd. Northparkes is a joint venture with the Sumitomo Group (20 per
cent).
Following an initial open pit operation at Northparkes in central New South Wales, Australia, underground block cave mining has been undertaken since
1997. With present and future developments, the operation has an expected life of 13 years at current production rates.
The copper concentrate produced is shipped under long term contracts that provide for periodic negotiation of certain charges, as well as spot sales, to
smelters in Japan (67 per cent), China (17 per cent) and other countries (16 per cent).
Northparkes employs approximately 150 people together with 140 permanent contractors.
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2005 operating performance
The year saw a full year's production from the Lift 2 block cave and the cessation of mining from the open cut, which was used as additional feed during the ramp up of Lift 2.
Underground production continued to ramp up, exceeding nameplate capacity in June. Better cave fragmentation and grades contributed to 80 per cent higher copper production in 2005.
2003
2004
2005
Principal operating statistics at Northparkes 2003-2005
Ore milled ('000 tonnes)
5,168
5,008
5,453
Head grade:
Copper (%)
0.67
0.79
1.12
Gold (g/t)
0.44
0.66
0.46
Production of contained metals
Copper ('000 tonnes)
27.1
30.0
54.0
Gold ('000 ounces)
48.6
79.4
57.0
Kennecott Minerals
(Rio Tinto: 100 per cent)
Kennecott
Minerals in the US manages the Greens Creek mine (Rio Tinto: 70 per cent) on
Admiralty Island in Alaska which produces gold, silver, zinc and lead. The Rawhide
mine (Rio Tinto: 51 per cent) in Nevada produces gold and silver by leaching
since mining operations ceased in 2002. Reclamation work is well advanced. Kennecott
Minerals also owns the Group's interest in the Cortez gold mine (Rio Tinto:
40 per cent),
also in Nevada.
Kennecott Minerals employs approximately 300 people, excluding employees of non managed operations.
2005 operating performance
Net earnings of US$73 million were US$9 million below 2004 reflecting lower production from lower grades at Cortez as mining of the current Pipeline deposit approaches the end
of its life.
At Greens Creek mill throughput was 11 per cent lower than in 2004, however with variation in head grades, silver production was equal to 2004
production, and zinc production was 16 per cent lower than in 2004. The focus at Greens Creek in the second half of the year was on mine rehabilitation work in the main underground infrastructure, resulting in the lower throughput for the
year.
Copper group projects
Resolution
(Rio Tinto: 55 per cent)
The
Resolution project is situated in Arizona, US, in the area of the depleted Magma
(Superior) copper mine. In 2001, an agreement was signed with BHP Billiton Base
Metals which allowed Rio Tinto to earn a 55 per cent interest in the project
by spending US$25 million over six years. Rio Tinto completed earning its
55 per cent interest in the project in early 2004. In June 2005, approval was
granted to evaluate options for accelerating exploration shaft development. This
is currently planned to begin in 2006. Significant value will be added to the
project if a land exchange programme is successful, allowing extension of the
ore body into adjacent land. The Act
supporting the land exchange was introduced in the US House of Representatives
and the Senate in May 2005 and approval by Congress is anticipated in 2006.
Cortez Hills
(Rio Tinto: 40 per cent)
Rio Tinto holds a 40 per cent interest in the Cortez gold mine, a joint venture with Placer Dome. The mine is located in northeastern Nevada, US, and the associated area of interest
includes the Cortez Hills deposit, discovered in 2003 which contains proven and probable reserves of 7.5 million ounces of gold. A feasibility study is in progress to determine the optimum sequencing for development of the deposits within the Cortez
area of interest. It is anticipated that operating permits for Cortez Hills will be obtained in 2006, with initial gold production occurring in mid 2007.
Eagle
(Rio Tinto: 100 per cent)
The Eagle project is a small tonnage, high grade nickel deposit located in Michigan, US, for which Kennecott Minerals has commissioned a prefeasibility study. Permitting approvals are
underway.
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DIAMONDS GROUP
Diamonds
Diamonds
(Rio Tinto share)
Underlying
'000 carats
Earnings contribution*
MINED
US$m
*
The
        amounts presented exclude net interest and other centrally reported items.
        A reconciliation with net earnings for 2004 and 2005 is set out in Note
        2 to the 2005 Financial statements. Product group earnings for 2004 and
    2005 are based on underlying earnings as determined under EU IFRS
The Diamonds product group comprises Rio Tinto's 60 per cent interest in the Diavik Diamonds mine in Canada, the wholly owned Argyle mine in Australia, Rio Tinto's 78 per
cent interest in the Murowa mine in Zimbabwe and diamond sales and representative offices in Belgium and India.
The group's focus is the mining, recovery and sale of rough natural diamonds. In keeping with Rio Tinto's values, the group is a leading
proponent of the Kimberley Process and driver of programmes such as the Business Excellence Model and partnerships like the Council for Responsible Jewellery Practices to ensure suppliers, partners and customers operate to acceptable standards of
social and environmental responsibility. Rio Tinto sells its diamonds through its marketing arm, Rio Tinto Diamonds, according to a strict chain of custody process allowing the sale of diamonds according to their mine source in order to gain the
benefits of origin.
At 31 December 2005, Diamonds accounted for seven per cent of the Group's operating assets and, in 2005, contributed five per cent of Rio
Tinto's gross turnover and six per cent of underlying earnings.
Keith Johnson, chief executive, Diamonds, is based in London.
Financial performance
2005 compared with 2004
Diamonds contributed US$281 million to underlying earnings, an increase of US$93 million from 2004, assisted by a strong diamond market and the solid performance by Argyle,
Diavik and Murowa.
The rough diamond market remained strong for most of 2005 with the Rio Tinto product offering in great demand. Seasonal softening toward the end of the
year was mainly due to holidays and festivals in the key customer markets.
Prices for polished diamonds increased in 2005, with the majority of gains made in the first half of the year. Strongest demand was seen in the product
types in shortest supply. This included large diamonds greater than two carats in size with better colour and quality, and the smaller diamond segments.
Diavik Diamonds
(Rio Tinto: 60 per cent)
Diavik
Diamond Mines (DDMI) owns Rio Tinto's interest in and manages the unincorporated
Diavik Diamonds joint venture in the Northwest Territories of Canada.
Construction was completed in 2003 with production first group commencing in January 2003. Since then the project has exceeded expectations. Open pit
mining is expected to continue mainly from A154S and subsequently A418 well beyond 2010.
In
late 2004 the board approved the US$190 million construction cost of a dike around the A418 kimberlite to enable open pit mining beneath the lake
bed. The board also approved the commencement of a study into the feasibility of underground mining of the A154N, A154S and A418 kimberlites. This study includes the development of a 3.3 kilometre exploratory decline, at an estimated cost of
US$75 million.
2005 operating performance
Underlying earnings were US$143 million, US$4 million below 2004. Sales of Diavik diamonds continued to attract a high level of interest with prices remaining
steady.
Production in 2005 exceeded that in 2004 with good operational and plant performance achieving a new volume record. Ore blending strategies were employed
to increase throughput which allowed the process plant to comfortably exceed design capacity on a consistent basis. Grades also steadily improved as mining continued deeper into the
orebody,
improving understanding of the resource.
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A strategic planning and development team, separate from mine operations, was formed to carry out the study on how best to extend the life of the Diavik
operation underground and oversee the development of the A418 dike and exploratory decline. Construction of the dike progressed ahead of schedule with the barrier being closed off in October. Work on the dike followed by pre-stripping of the lake
bottom will continue into 2008 before open pit mining on the A418 kimberlite can commence. Construction of the exploratory decline also commenced during the year with close to one kilometre of tunnel developed. The underground study proceeded on
schedule.
Bulk sampling of the A21 kimberlite commenced to determine whether it could be classified as a reserve and feature in the Diavik mine plan. This work is
expected to be completed in 2006.
In 2005, there were approximately 350 employees and an equal number of contracted employees. Approximately one third of Diavik's 700 workforce is
made up of indigenous people.
Argyle
(Rio Tinto: 100 per cent)
Rio Tinto owns and operates the Argyle diamond mine in Western Australia.
Production
from Argyle's AK1 open pit mine, is expected to continue until 2008.
In
late 2005 the Rio Tinto board approved the development of an underground block
cave mine under the AK1 open pit. It also approved an open pit cutback on the
Northern Bowl to facilitate the transition from open pit to underground mining.
The capital cost of the underground mine is expected to be US$760 million, and the cutback US$150
million. The work is planned to extend the life of the Argyle operation to 2018.
Construction started in February 2006 and development work associated with the
exploratory decline will continue.
2005 operating performance
Underlying earnings of US$117 million were US$77 million higher than in 2004. Diamond production for 2005 was 48 per cent higher with 30.5 million carats produced. Performance
improved considerably over 2004 even though tight mining conditions prevailed as a result of the deepening open pit and a highly competitive labour market.
Argyle celebrated the signing of the Argyle Participation Agreement in June 2005 ensuring mining's contribution to sustainable livelihoods locally.
The agreement was signed with the indigenous traditional owners and the Kimberley Land Council. More than 600 visitors, including the governor general of Australia and the premier of Western Australia, attended the ceremony.
In 2005, there were approximately 800 employees and 250 contractors. One quarter of Argyle's approximately 1,050 workforce is made up of indigenous
people.
Murowa
(Rio Tinto: 77.8 per cent)
Production
at Murowa commenced in late 2004 after US$11 million was spent on constructing
a 200,000 tonnes per year plant and supporting infrastructure.
The small scale Murowa operation is focused on 1.3 million tonnes of weathered material containing 140,000 tonnes of enriched ore. This operation reduced
the initial investment required so as to allow confirmation of marketing and regulatory arrangements prior to expansion. Chain of custody safeguards put in place at the commencement of production have performed without incident. Zimbabwe is a
signatory of the Kimberley Process.
2005 operating performance
Underlying earnings were US$21 million. The product was well received on the market with prices exceeding expectations.
A small modification was made to the front end of the Murowa plant in mid-2005 to increase throughput rates. This modification saw production for the
year exceed targets.
A high level order of magnitude study looking at expansion options was completed.
In 2005,
there were 81 employees and 142 contractors.
Improving performance together
Rio Tinto has embarked on a new phase of business improvement it has called
Improving performance
togethe
r. Led by Keith Johnson in addition to his role as chief executive, Diamonds, this is a set of internal initiatives to enhance collaboration across all of Rio
Tinto's businesses to deliver additional value.
The initiatives build on the Group's existing strengths in core areas such as mining, processing, marketing and asset management. They also look at
fundamental processes such as investment opportunity generation, planning, information technology and how key Groupwide functions are organised.
By tapping into the expertise of employees worldwide, the Group is systematically identifying where already high standards of performance can be further
improved and where they should be replicated.
The work began in 2005 and is gaining momentum in 2006 as projects are introduced at key sites and lessons learned are shared between operations.
Tangible results are already being recorded that open up exciting opportunities. To embed the improvements being brought about, refinements are being made to the way the Group is organised, so that the Group works together more closely.
Improving performance together
aims to ensure that Rio Tinto
maximises value creation whatever the market conditions.
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OTHER OPERATIONS
Lihir
(Rio Tinto: 0 per cent)
Rio
    Tinto relinquished management control of the Lihir mine in Papua New Guinea
    in September and in November entered into contracts to sell its 14.46 per
    cent shareholding for
approximately US$295 million. The shares were sold at a price of A$2.15
per share.
Kelian
(Rio Tinto: 90 per cent)
Kelian Equatorial Mining (Kelian) operated an open pit gold mine in East Kalimantan, Indonesia. Mining ceased in 2003 with production from stockpiled ore completed in early 2005. A
mine closure consultative process was completed in 2003 with stakeholders agreeing on the key mine closure directions. Work is continuing on mine closure activities. Settlement of compensation claims under a 2001 agreement are substantially complete
and a number of programmes are in place to provide sustainable solutions for local communities and former employees after closure.
2005 operating performance
Rio Tinto's share of Kelian's production from processing stockpiles was 38,380 ounces of gold in 2005.
Sari Gunay
(Rio Tinto: 70 per cent)
The Sari Gunay gold project in Kordestan province in western Iran progressed from the prefeasibility stage to the feasibility study phase. A bankable feasibility study is expected to
be presented to senior management for a decision in 2006 as to whether to proceed to the development stage. Project costs have in recent years reduced Group earnings by an average of one quarter of one per cent.
Kennecott Land
(Rio Tinto: 100 per cent)
Kennecott
Land was established in 2001 to capture value from the non mining land and water
rights assets of Kennecott Utah Copper. The Kennecott Land holdings are around
53 per cent
of remaining undeveloped land in the Utah's Salt Lake Valley. Approximately
16,000 hectares of the 37,200 hectares owned is developable land and is all within
20 miles (32km) of downtown Salt Lake City.
The
initial Daybreak community encompasses 1,800 hectares and is entitled to develop
nearly 14,000 residential units and nine million square feet of commercial space.
Kennecott Land develops the required infrastructure and prepares the land for
sale to home builders. The project is well advanced with 800 home sales since
opening in June 2004. At full build out, the community will house 30,000 to
40,000 residents. Revenues in 2005 exceeded US$30 million.
Kennecott Land is in the process of securing development rights from Salt Lake County for the remaining landholdings. Current development potential for
this land is over 150,000 residential units and 50 million square feet of commercial space. Securing entitlement is a long term public process that will culminate in a plan submitted for approval by the Salt Lake County Council during the next one
to two years.
EXPLORATION GROUP
Rio Tinto Exploration seeks to discover or identify mineral resources that will contribute to the growth of the Rio Tinto Group. The discovery of new resources is essential to replace
  deposits as they are mined and to help meet the increasing global demand for minerals and metals.
The Exploration group is opportunistic in approach and its resources are deployed on projects that show the best chance of delivering a world class
  deposit to Rio Tinto. Mineral exploration is a high risk activity. Rio Tinto's statistics show that an average of only one in 350 mineral prospects that are drill tested result in a mine for the Group. Rio Tinto believes in having a critical
  mass of projects, selected through a rigorous process of prioritisation.
The Exploration group is organised into four geographically based teams for North America, South America, Australasia and Africa/Europe, but from June
  2006 a fifth team will be created to cover Asia. At the same time another team that looks for industrial minerals on a global basis will be folded into the five geographically based teams. Additionally, a focused project generation team covers the
  world for new opportunities.
At the end of 2005, Rio Tinto was exploring in 30 countries for a broad range of commodities including copper, diamonds, nickel, industrial minerals,
  bauxite, iron ore and coal. Exploration employs 178 geologists and geophysicists around the world and has a total complement of approximately 800 people.
Tom Albanese, chief executive Copper and Exploration, is based in London.
2005 operating performance
Exploration in 2005 focused on advancing the most promising targets across the spectrum of grassroots, generative, drill test stage, and near mine programmes. Encouraging results were
obtained from a number of locations.
An order of magnitude study was completed on the La Sampala project (nickel, Indonesia). However, this project remains with the Exploration group while a
Contract of Work is negotiated with the Government of Indonesia. In the Pilbara of Western Australia five new iron ore deposits were handed over to the product group evaluation team.
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Since 2001 five projects have moved from exploration to the next stage of project evaluation including Resolution (copper, Arizona, US), Potasio Rio
Colorado (potash, Argentina) and Simandou (iron ore, Guinea). In addition to these projects, near mine exploration has also been undertaken.
During 2006 several projects will initiate order of magnitude studies to assess their economic potential for advancement to pre-feasibility
assessment.
Diamond exploration continued in Canada, southern Africa, Mauritania, Brazil and India. A number of diamond bearing kimberlite pipes were discovered and
follow up test work is in progress to gauge economic potential. The Indian diamond programme is showing early promise.
Copper exploration continued in Turkey, Kazakhstan, Peru, Chile, Argentina, Mexico and the US. Drilling encountered copper mineralisation in Turkey and
the US, warranting further follow up drill testing.
Exploration focus on the bulk commodities iron ore, coal and bauxite has been increasing each year for the last several years and did so again in 2005.
Ongoing evaluation of several projects is continuing with the intention to progress additional projects to product group handover in 2006.
The Exploration group was active in the search for industrial mineral deposits in a number of parts of the world including North and South America,
Europe, south east Asia and Turkey.
Support continued for brownfield work at a number of Rio Tinto operations, including Diavik, Argyle, Kennecott Utah Copper, Energy Resources of
Australia, Pilbara Iron and Rössing.
In December Rio Tinto received confirmation of success in two tenders. The first was the award of the La Granja copper project located in the Cajamarca
region of northern Peru. The bid comprises a US$60 million investment in exploration and feasibility work and staged payments to the Peruvian government of US$22 million. Rio Tinto will be conducting a study aimed at demonstrating the
feasibility of leaching the ore and electrowinning copper metal.
The second successful tender was for the Jarandol concession hosting the Piskanja borate deposit located in southern Serbia. This project will now enter
a period of ongoing exploration and evaluation planned to last between three and five years.
On 27 January 2006 Rio Tinto announced with Norilsk Nickel the launch of an exploration and development joint venture in Russia. A Russian limited
liability company has been formed owned 51 per cent by Norilsk and 49 per cent by Rio Tinto. The joint venture will give Rio Tinto exploration access to a large area of interest in the Siberian and far eastern districts of Russia.
In December the Exploration Group received ISO14001 certification covering all the environmental management activities of the four core geographical
regions. During 2005 a single integrated HSEC management system was developed and introduced across the Exploration group. The management system framework of ISO14001 was extended from environmental matters to also cover the other related areas of
health, safety and communities.
Financial performance
2005 compared with 2004
Cash expenditure on exploration in 2005 was US$264 million and the pre-tax charge to underlying earnings was US$250 million, a US$60 million increase over 2004, reflecting
a further increase in iron ore exploration in Western Australia, the growth of high quality projects in the Exploration pipeline and further acceleration of evaluation on significant projects by product groups during the year.
TECHNOLOGY GROUP
The Technology group provides a central platform to support Rio Tinto's operations, future growth and profitability. It provides a world-class technology based service to the
  product groups and their businesses and advises executive management. Through the Health, Safety and Environment unit, assurance is provided to the board with regard to the development and implementation of Rio Tinto's Safety, Occupational
  Health and Environment policies and standards.
All units in the Technology Group identify, share and implement leading practice across Rio Tinto. Collaboration in knowledge capture and dissemination
  is a key requirement for all staff.
Throughout 2005 Technology group staff were a core part of the
Improving performance together
programme, driving the implementation of a number of initiatives to create value for the Group through a combination of
  capital efficiency, higher volumes, higher revenues and improved productivity.
The total staff in the Technology group at year end was 343 compared with 362 in 2004. The decrease was due to reassignment of some support functions to
  the Rio Tinto Shared Services group.
On 1 May 2005 Ian Smith succeeded John O'Reilly as head of Technology, and is based in London. On 15 July 2006 Ian will be succeeded by Grant
  Thorne.
2005 operating performance
Health, Safety and Environment
Health, Safety and Environment continued to work closely with Group businesses, providing the support systems for full and consistent implementation of the strategies, standards,
guidance and procedures.
The Rio Tinto Safety Plan is being updated to reflect emerging issues, changed legislation and leading practices. A Product Stewardship Strategy has been
developed for implementation across the businesses in 2006.
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Technical Services
Technical Services continued to increase its involvement with Rio Tinto operations, play its role in ore reserve assurance and also provide significant contributions at non managed
operations. Activity over the year was again at record levels, with a strong focus on the enhancement of initiatives to improve performance and implement best practice in areas such as mine planning and metallurgical margin improvement. Initiatives
progressed during the year include underground mining technologies and quantitative mineralogy.
A number of current development projects are linked with external research programmes in order to leverage value for Rio Tinto. Others are focussed on
innovation and best practice in key areas to add value in a shorter time frame.
Office of the Chief Technologist
The Office of the Chief Technologist is responsible for the identification and the transfer of technology based opportunities for the Group.
The external research portfolio covers a broad range of initiatives with potential to add value in the medium to longer term. These activities link
directly with internal development projects, providing a clear pathway for implementation. Work on energy efficiency in mineral liberation and comminution (including new microwave technology) continues to be a focus. A number of breakthrough
projects are also being pursued.
The Rio Tinto Foundation for a Sustainable Minerals Industry approved a further 12 projects for funding. The Australian Government and Rio Tinto funding
commitments for the Foundation have now been fulfilled.
Technical Evaluation and Project Management
Technical Evaluation continued in its principal role of providing independent review of all major investment proposals being considered by the Group. Risk assessment and management is
an important and integral component of the project review process. The unit also continued with the programme of post investment reviews and lessons learned from completed projects are shared within the Group.
The Project Management Unit provides ongoing support to major project teams across Rio Tinto, both for projects in execution and those still in the
feasibility stage. There was also continued involvement with some major projects at non managed operations. Two project management forums were held during the year focussing on collaboration between project teams and capture of lessons
learned.
Asset Utilisation
This unit is now well established across the Group and its workload continued to expand. There has been particularly heavy involvement with the iron ore operations in Western
Australia which continued through 2005. The process control group is now well established and implementation of performance improvement was progressed in a number of areas. These included asset integrity and remote monitoring. There is continuing
emphasis on ensuring that safety, operability and maintainability issues are fully addressed and incorporated in all the unit's work.
Financial performance
The charge for the Technology group (including Health, Safety and Environment) against net earnings was US$41 million, compared with US$35 million in 2004. The increase was
due to the greater level of activity in all Technology group units.
GROUP
SOCIETY AND ENVIRONMENT
Group
employees
Principal
    employee locations 2005
(approximate
average for year)
(approximate
	    average for
	    year)
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Rio Tinto is in business to create value by finding and developing world class mineral deposits and operating and eventually closing operations safely, responsibly and efficiently. To
do so, the Group takes a disciplined and integrated approach to the economic, social and environmental aspects of all its activities.
The approach to achieving this is through implementation of the policies described in
The way we work,
Rio Tinto's statement of business practice, at all levels of the business.
The statement was revised and redistributed in 2003 and is now available in 21 languages. It is the result of wide internal consultation and discussion
and represents shared values from around the Group. The document was published initially in January 1998. It was revised in 2002 in the light of experience, following further Group wide review and consultation, external benchmarking of policies
against the best practice of other organisations and approval by the Rio Tinto board.
The way we work
commits the Group to transparency consistent with
normal commercial confidentiality, corporate accountability and the application of appropriate standards and internal controls. It sets the basis for how Group companies' employees work and also provides guidance for joint venture partners and
others. Every employee is responsible for implementing the policies in the document.
Rio Tinto has adopted the Association of British Insurers' 2003 disclosure guidelines on social responsibility in preparing this report. Details of
the Group's overall and individual businesses' social and environmental performance continue to be published on the Rio Tinto website: www.riotinto.com/se and in the
Sustainable development review.
Board responsibilities
The directors of Rio Tinto, and of Group companies, are responsible for monitoring adherence to the Group policies outlined in
The way we work.
Assurance for performance in these areas involves checking, reviewing and reporting each
business's implementation of the policies, their compliance with regulations and voluntary commitments, and the effectiveness of management and control systems, while also providing mechanisms for improvement.
As discussed in the section on Corporate governance on page 114, the boards established a process for identifying, evaluating and managing the
significant risks faced by the Group. Directors meet regularly, have regular scheduled discussions on aspects of the Group's strategy and full and timely access to the information required to discharge their responsibilities fully and
effectively.
Rio Tinto's
Compliance guidance
requires that the identification of risk be systematic and ongoing. It recommends that each Group company undertakes a structured risk profiling exercise to identify, categorise and weigh the
risks it faces in the conduct of its business. Each Group company puts systems in place to ensure that risks are reviewed at an appropriate frequency.
Total remuneration is related to performance through the use of annual bonuses, long term incentives and stretching targets for personal, financial and
safety performance.
The board's
Committee on social and environmental accountability
reviews the effectiveness of policies and procedures. The committee comprises four non executive directors. It meets three times annually with the chief executive and heads
of Technology, Health, Safety and Environment and Communication and Sustainable Development.
Reports for the committee summarise significant matters identified through Rio Tinto's assurance activities. These include reviews every four years
of each business to identify and manage strategic risks in relation to health, safety, and the environment; audits against Rio Tinto standards; annual risk management audits; risk reviews for specific concerns; procedures and systems for reporting
critical and significant issues and incidents; completion of annual internal control questionnaires by all Group business leaders covering the full spectrum of business and operational risk; and findings and recommendations of the independent
external assurance and data verification programme.
Policies, programmes and results
Implementation of the policies in
The way we work
is discussed in the following sections according to each policy area. Known risks arising from social and environmental matters and their management in Group businesses are described in the
relevant Group operations section.
Safety
Safety is a core value and a major priority. Rio Tinto believes that all injuries are preventable and its goal is zero injuries. To achieve this, full and consistent implementation of
and accountability for Rio Tinto's comprehensive standards, guidance, systems and procedures is required across the world. The Group is also building a supportive safety culture that requires visible leadership, ongoing education and training
and a high level of participation by everyone in the workplace.
While the safety record improved for the sixth consecutive year in 2005, there is still some way to go in achieving the goal of zero injuries. In 2005,
very regrettably two employees lost their lives at managed operations. The Group has demonstrated strong improvements in the lost time injury frequency rate (LTIFR) and all injury frequency rate (AIFR) from 2004, with reductions of 14 per cent and
11 per cent respectively. The LTIFR for 2005 was 0.56 per 200,000 hours worked by employees and contracted employees (2004: 0.65) . Rio Tinto set targets in 2003 for a 50 per cent reduction in LTIFR and AIFR by 2008. The LTIFR is on track, while
AIFR is slightly behind.
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Fines for infringement of safety regulations involved 11 operations, totalling US$87,600 (2004: US$19,200). This includes a fine of US$62,942
for an incident at Energy Resources of Australia's Ranger mine in 2004, resulting in a significant injury requiring hospitalisation.
Occupational health
Rio Tinto strives to protect physical health and well being in the workplace. This requires clear standards, consistent implementation, transfer of best practice and improvement
through Group wide reporting and tracking of remedial actions.
Seventy six per cent of employees work at operations that have fully implemented the occupational health standards. Of the remaining 11 businesses, ten
have applied a risk based approach to implementation and should complete implementation in 2006. In 2005 there were 54 new cases of occupational illness per 10,000 employees, a 26 per cent improvement compared with 73 in 2004. The Group has achieved
a 49 per cent reduction in new cases of occupational illness since 2003, approximately 40 per cent of which has been due to the divestment of Rio Tinto Zimbabwe.
Rio Tinto's southern African operations completed implementation of the Group HIV/AIDS strategy in 2005, which provides access to antiretroviral
therapy which is affordable for employees and a nominated partner.
In 2004, Rio Tinto set targets to focus attention on reducing noise induced hearing loss across the Group. The target of zero exposure of employees to a
noise dose of more than 82 decibels (averaged over eight hours and allowing for the use of hearing protection) has now been met, with less than 0.1 per cent of employees still exposed to noise greater than this limit.
Fines for infringement of occupational health regulations in 2005 involved two operations, totalling US$58,100 (2004: US$257,000). This includes
a fine of US$57,204 for an incident at Energy Resources of Australia's Ranger mine in 2004 relating to drinking water contamination.
Environment
Wherever possible Rio Tinto prevents, or otherwise minimises, mitigates and remediates, harmful effects of the Group's operations on the environment.
To do this, the Group seeks to understand the environmental aspects and impacts of what it does, build what is learned into systems to manage and
minimise those impacts, and set targets for improvement.
Rio Tinto believes that emissions of greenhouse gases (GHGs) from human activities are contributing to climate change. As a major producer and user of
energy products, the Group is working to reduce greenhouse gas emissions from its processes and in the use of its products. The Group has five year targets to reduce GHG emissions by four per cent per tonne of product and improve energy efficiency
by five per cent per tonne of product by 2008 compared to a 2003 baseline.
Performance in 2005 against the energy target is ahead of trajectory (2.7 per cent improvement), while performance against the GHG target is slightly
behind (0.9 per cent reduction). Positive engagement with governments and stakeholders who are also trying to find solutions to climate change remains an important focus of the Group. In 2005 a Climate Change Leadership Panel was formed to ensure
Group actions remain effective and that Rio Tinto maintains a leading position in this area.
By the end of 2005, 90 per cent of operations had certified ISO 14001 or an equivalent environmental management system (EMS). All Rio Tinto operations
were required to have had a certified EMS by the end of June 2005. There were eight significant environmental incidents in 2005, of which two were spills, compared to 16 in 2004, of which four were spills. Fines for infringements of environmental
regulations involved three operations and totalled US$67,900 (2004: US$53,800). This includes a fine of US$57,204 for an incident in 2004 at Energy Resources of Australia's Ranger mine relating to a breach of radiation clearance
procedures for equipment leaving site.
Land access
Rio Tinto seeks to ensure the widest possible support for its proposals throughout the life cycle of the Group's activities by coordinating economic, technical, environmental and
social factors in an integrated process.
This involves negotiation of mining access agreements with indigenous landowners; responsible land management and rehabilitation; planning for closure;
developing and implementing a biodiversity strategy; and forming strategic partnerships with external organisations.
Political involvement
Rio Tinto does not directly or indirectly participate in party politics nor make payments to political parties or individual politicians.
A
Business integrity guidance,
addressing bribery, corruption and political involvement, was issued in 2003 to assist managers in implementing this policy. The guidance covers questions relating to compliance and
implementation; gifts and entertainment; the use of agents and intermediaries; and "facilitation" payments.
Rio Tinto avoids making facilitation payments anywhere in the world. Bribery in any form is prohibited. Gifts and entertainment are only offered or
accepted for conventional social and business purposes and then only at a level appropriate to the circumstances.
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Communities
Rio Tinto sets out to build enduring relationships with its neighbours that are characterised by mutual respect, active partnership, and long term commitment.
Every business unit is required to have rolling five year community plans which are updated annually. In 2004, a series of pilot studies were completed
aimed at achieving a deeper level of understanding of the linkages between mining activities and the economies in which they take place.
All Group businesses produce their own reports for their local communities and other audiences. Community assurance of the quality and content of these
reports is increasing. This provides an opportunity for engagement with the community on their views of programmes sponsored by the operations.
Businesses managed by Rio Tinto contributed US$93.4 million to community programmes in 2005 (2004: US$87.8 million) calculated on the basis of
the London Benchmarking Group model. Of the total contributions, US$37.3 million was community investment and US$29 million in direct payments made under legislation or an agreement with a local community.
Human rights
Rio Tinto supports human rights consistent with the Universal Declaration of Human Rights and also respects those rights in conducting the Group's operations throughout the
world.
Rio Tinto also supports the UN Secretary General's Global Compact, the US/UK Voluntary Principles on Security and Human Rights and the Global
Sullivan Principles.
Rio Tinto's
Human rights guidance
is designed to assist managers in implementing the Group's human rights policy in complex local situations. It was revised and republished in 2003. In 2004, a web based training module was
developed to instruct managers on what the policy means in practice and how to respond to difficult situations.
Employment
Rio Tinto
  recognises that business performance is closely linked to effective people development.
  It has a long term plan to strengthen approaches to the training and development
  of leaders in the Group.
In
  2004, a suite of formal leadership programmes was developed and implemented
  for both strategic and Group business leaders. In total, ten customised leadership
  development programmes, involving 250 participants, were successfully run in
  2005 in partnership with leading business schools in Europe, North America and
  Australia. All product groups and businesses were represented.
As
  well as using the open programmes run by the London Business School and International
  Institute for Management
Development for future leaders, Rio Tinto commissioned
  the design of a customised, operational leadership programme which was launched
  in 2005 with eight programmes involving about 240 further participants from
  across the Group at manager and superintendent level.
These
  programmes are all focused on ensuring that leaders, at all levels, are well
  prepared for the wide range of current and future challenges they will face
  in taking forward a complex and commercially successful organisation. All of
  these programmes are closely integrated with the core leadership competencies
  Rio Tinto has identified as necessary for effective leaders wherever they work
  in the organisation.
Groupwide
  workshops to improve the capability of those involved in managing careers were
  organised in 2005.
People development in Rio Tinto is focused on improving technical and professional
  competencies. In 2005, development of core competencies focused on on-the-job
  development, coaching, mentoring and competency based recruitment.
Rio
  Tinto requires safe and effective working relationships in all its operations.
  Whilst respecting different cultures, traditions and employment practices, common
  goals are shared, in particular the elimination of workplace injuries, and commitment
  to good corporate values and ethical behaviour.
In
  2004 and 2005, Group companies, mainly concentrated in Australia and North America,
  employed approximately 28,000 people and, together with Rio Tinto's proportionate
  share of consolidated companies and equity accounted units, the total was approximately
  32,000 (2004: 32,000). Wages and salaries paid in 2005 excluding Rio Tinto's
  proportionate share of consolidated companies and equity accounted units, totalled
  US$2.1 billion (2004: US$1.8 billion).
Retirement
  payments and benefits to dependants are provided in accordance with local conditions
  and good practice.
Rio
  Tinto encourages the involvement of its employees in the Group's performance
  through their participation in an employee share scheme. As stated in
The
  way we work,
the
  Group recognises the right of employees to choose whether or not they wish to
  be represented collectively.
Sustainable development
Rio Tinto has made a strategic commitment to sustainable development, in the belief that acting responsibly will result in long term business benefits such as lowering risks, reducing
costs, creating options, and leveraging reputation. It is corporate policy that Group businesses, projects, operations and products should contribute constructively to the global transition to sustainable development. Details of our policy,
programmes and results are provided in our
Sustainable development review
, available on
the website.
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All
  Rio Tinto managed businesses have developed, or are in the process of developing,
  locally relevant sustainable development metrics. The intent is that these are
  derived in accordance with specific circumstances and sustainable development
  related priorities, through consultation with local stakeholders.
Progress
  against these metrics is beginning to be integrated into existing internal business
  reporting systems and communicated to external audiences annually through local
Social
  and environment reports.
This
  approach has the advantage of giving local meaning to the Group's global
  sustainable development efforts and accordingly is more likely to lead to locally
  relevant and successful outcomes at the business unit level.
A
  Sustainable Development Leadership Panel (SDLP) was formed in 2004 to provide
  Group leadership and encourage businesses to make sustainable development considerations
  an integral part of business plans and decision making processes. After wide
  internal and external consultation, in 2005 the panel developed a set of decision
  making criteria to help Rio Tinto businesses and departments incorporate sustainable
  development considerations into their formal and informal management systems.
  At the corporate level the criteria were included in project evaluation guidelines.
As
  a founding member of the International Council on Mining and Metals, Rio Tinto
  is participating in dialogue and programmes to advance industry wide progress
  on key sustainable development priorities.
Openness and accountability
Rio
  Tinto conducts the Group's affairs in an accountable and transparent manner, reflecting the interests of Rio Tinto shareholders, employees, host communities and customers as
  well as others affected by the Group's activities.
Policies on transparency, business integrity, corporate governance and internal controls and reporting procedures are outlined in
The way we work.
In 2003, a
Compliance guidance
was issued to provide a framework to enable each Group business to implement and maintain a best practice compliance programme which
should identify and manage risks associated with non compliance with laws, regulations, codes, standards and Rio Tinto policies.
Assurance and verification
To
  be accountable and transparent, assurance is provided to the Group and others
  that Rio Tinto policies are being implemented fully and consistently across the
  Group's
  businesses and operations.
The overall objective of the external assurance and data verification programme is to provide assurance that the material in the
Sustainable development review
is relevant, complete, accurate and responsive, and, in particular, that Rio
Tinto's policies and programmes are reflected in implementation activities at operations. In 2005, Environmental Resources Management (ERM) undertook the external assurance and data verification programme and the results are available in Rio
Tinto's
Sustainable development review
(previously the
Social and environment review).
Competition
Rio Tinto has adopted a specific antitrust policy requiring all employees to compete fairly and to comply with relevant laws and regulations. Under the policy, guidance is provided on
  contacts with competitors and benchmarking as well as implementation of the policy in individual businesses. As integral parts of the policy, all relevant employees receive regular training and are required to certify annually that they are not
  aware of any antitrust violations. No violations were reported in 2005.
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Item
      6.
Directors, Senior Management and Employees
CHAIRMAN
Paul Skinner
BA (Hons) (Law), DpBA (Business Administration) age 61
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 2001 and was appointed chairman of the Group in November 2003. Paul was last re-elected by shareholders in 2005 and is chairman
of the Nominations committee (note b).
Skills and experience
Paul
  graduated in law from Cambridge University and in business administration from
  Manchester Business School. He was previously a managing director of The "Shell"
  Transport and Trading Company plc and group managing director of The Royal Dutch/Shell Group of Companies, for whom he had worked since 1966. During his career he worked in all Shell's
  main businesses, including senior appointments in the UK, Greece, Nigeria,
  New Zealand and Norway. He was CEO of its global Oil Products business from
  1999
to 2003.
Other external appointments (current and recent)
Director
of Standard Chartered plc since 2003.
Director of the Tetra Laval Group since
2005.
Director of Air Liquide since May 2006.
Chairman
of the International Chamber of Commerce (UK) since 2005.
Member of the board
of INSEAD business school since 1999.
Director
of the Defence Management Board of the Ministry of Defence since June 2006.
Director
of The 'Shell' Transport and Trading Company plc from 2000 to 2003.
CHIEF
  EXECUTIVE
Leigh
  Clifford
B
  Eng (Mining), M Eng Sci age 58
Appointment
  and election
Director
  of Rio Tinto plc since 1994 and Rio Tinto Limited since 1995 and was appointed
  chief executive in 2000. Leigh was last re-elected by shareholders in 2006.
Skills
  and experience
Leigh
  graduated from the University of Melbourne as a mining engineer and gained a
  Master of Engineering Science from the same University. He has held various
  roles in the Group's coal and metalliferous operations since joining in
  1970, including managing director of Rio Tinto Limited and chief executive of
  the Energy group. He was a member of the Coal Industry Advisory Board of the
  International Energy Agency for a number of years and its chairman from 1998
  to 2000.
Other
  external appointments (current and recent)
Director
  Barclays Bank plc since 2004.
Director
  of Freeport-McMoRan Copper & Gold Inc between 2000 and 2004.
EXECUTIVE
  DIRECTORS
Tom
  Albanese
BS
  (Mineral Economics) MS (Mining Engineering) age 48
Appointment
  and election
Director
  of Rio Tinto plc and Rio Tinto Limited since 7 March 2006. Tom was elected by
  the shareholders in 2006.
Skills
  and experience
Tom
  will continue as chief executive of the Copper group and head of Exploration
  until 1 July 2006 when he will be appointed director, Group Resources. He joined
  Rio Tinto in 1993 on Rio Tinto's acquisition of Nerco and has held a series
  of management positions before being appointed chief executive of the Industrial
  Minerals group in 2000.
Other
  external appointments (current and recent)
Director
  of Palabora Mining Company (South Africa listed company) from 2004 to present.
Executive Committee of International Copper Association since 2004.
Guy Elliott
MA (Oxon) MBA (INSEAD) age 50
Appointment and election
Finance director of Rio Tinto plc and Rio Tinto Limited since 2002. Guy was last re-elected by shareholders in 2004.
Skills and experience
Guy joined the Group in 1980 after gaining an MBA. He has subsequently held a variety of commercial and management positions, including head of Business Evaluation and president of
Rio Tinto Brasil.
Other external appointments (current and recent)
None.
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NON EXECUTIVE DIRECTORS
Dr Ashton Calvert
AC, BSc (Hons) (TAS), DPhil (Oxon), Hon DSc (Tas) age 60
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 1 February 2005. Ashton was elected by shareholders in 2005 (notes b, d and e).
Skills and experience
Ashton retired as secretary of the Department of Foreign Affairs and Trade of the Government of Australia in January 2005 after six and a half years in that position. He was educated
at the University of Tasmania and, as a Rhodes scholar, also gained a doctorate in mathematics from Oxford University. During his career in the Australian foreign service he held appointments in Washington and, on four occasions, in Tokyo, where he
was ambassador prior to his appointment as secretary. In these and other roles he developed extensive experience of the Asian countries which represent key markets for Rio Tinto.
Other external appointments (current and recent)
Director
of Woodside Petroleum Limited since 2005.
Director of The Australian Trade Commission
between 1998 and 2005.
Director
of The Export Finance and Insurance Corporation between 1998 and 2005.
Director
of The Australian Strategic Policy Institute between 2001 and 2005 .
Sir David Clementi
MA, MBA, FCA age 57
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 2003. Sir David was re-elected by the shareholders in 2006 (notes a, c and e).
Skills and experience
Sir David is chairman of Prudential plc, prior to which he was Deputy Governor of the Bank of England. His earlier career was with Kleinwort Benson where he spent 22 years, holding
various positions including chief executive and vice chairman. A graduate of Oxford University and a qualified chartered accountant, Sir David also holds an MBA from Harvard Business School.
Other external appointments (current and recent)
Chairman of Prudential plc since 2002.
Member of the Financial Reporting Council since 2003.
Vivienne Cox
MA (Oxon), MBA (INSEAD) age 46
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since February 2005. Vivienne was elected by shareholders in 2005 (notes a and e).
Skills and experience
Vivienne
is currently executive vice president of BP p.l.c. for Gas Power & Renewables and Integrated Supply & Trading. She is a member of the BP group chief executive's
committee. She holds degrees in chemistry from Oxford University and in business
administration from INSEAD. During her career in BP she has worked in chemicals,
exploration, finance, and refining and marketing.
Other external appointments (current and recent)
Non Executive Director of Eurotunnel plc between 2001 and 2004.
Sir Rod Eddington
B.Eng M.Eng (University of Western Australia), D.Phil (Oxon) age 55
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 2005. Sir Rod was elected by the shareholders in 2006 (notes b, d and e).
Skills and experience
Sir Rod was chief executive of British Airways Plc until the end of September 2005. Prior to his role with British Airways, Sir Rod was Managing Director of Cathay Pacific Airways
from 1992-1996 and Executive Chairman of Ansett Airlines from 1997-2000. He is also Chairman of the EU/Hong Kong Business Co-operation Committee of the Hong Kong Trade Development Council.
Other external appointments (current and recent)
Director
of John Swire & Son Pty Limited since 1997.
Director of News Corporation
plc since 1999.
Non executive
chairman of JPMorgan Australia and New Zealand since January 2006.
Director of
CLP Holdings since January 2006.
Director of Record Investments Limited since June 2006.
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Michael Fitzpatrick
B.Eng (University of Western Australia), BA (Oxon)) age 53
Appointment and election
Appointed as a director of Rio Tinto plc and Rio Tinto Limited on 6 June 2006 and will stand for election by the shareholders at the 2007 annual general meetings.
Skills and experience
Michael was the Managing Director of Hastings Fund Management, the pioneering infrastructure asset management company, which he founded in 1994 and in which he has recently sold his
interests and ceased to be a director. Prior to this role he was an executive director of CS First Boston Australia Limited.
Other external appointments (current and recent)
Chairman of
Treasury Group Limited since November 2005 (director since 2004).
Chairman
of the Victoria Funds Management Corporation.
Managing director
of Hastings Funds Management between 1994 and 2006.
Director of Pacific Hydro Limited
between 1996 and 2004.
Director
of The Walter & Eliza Hall Institute of Medical Research
Commissioner of the Australian Football League and a former chairman of the Australian Sports Commission.
Richard Goodmanson
MBA (Columbia University), B. Economics, B. Commerce (University of
Queensland), B. Eng. – Civil (Royal Military College, Duntroon) age 58
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 2004. He was elected by shareholders in 2005 and is chairman of the Committee on social and environmental accountability (notes
c, d and e)
Skills and experience
Richard
is executive vice president and chief operating officer of DuPont and holds degrees
in civil engineering, economics, commerce and a masters of business administration.
During
his career he has worked at senior levels for McKinsey & Co, PepsiCo and
American West Airlines, where he was president and CEO. He joined DuPont in early
1999 and in his current position has responsibility for a number of the global
functions, and for the non US operations of DuPont with particular focus on growth
in emerging markets.
Other external appointments (current and recent)
Chairman of
the United Way of Delaware since January 2006 (director since 2002).
Director
of the Boise Cascade Corporation between 2000 and 2004.
Andrew Gould
BA FCA age 59
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 2002. Andrew was re-elected by the shareholders in 2006. He is also chairman of the Audit committee (notes a, c and e).
Skills and experience
Andrew
is chairman and chief executive officer of Schlumberger Limited, where he has
held a succession of financial and operational management positions, including
that of executive vice president of Schlumberger Oilfield Services and president
and chief operating officer of Schlumberger Limited. He has worked in Asia, Europe
and the US. He joined Schlumberger in 1975. He holds a degree in economic history
from Cardiff
University and qualified as a chartered accountant with Ernst & Young.
Other external appointments (current and recent)
Chairman
and Chief Executive Officer of Schlumberger Limited since 2003.
Member of the
UK Prime Minister's Council of Science and Technology.
Lord Kerr of Kinlochard
GCMG MA age 64
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 2003. He was elected by shareholders in 2004 (notes a, d and e).
Skills and experience
After reading history at Oxford Lord Kerr was a member of the UK Diplomatic Service for 36 years, heading the Service from 1997 to 2002 as Permanent Under Secretary at the Foreign
Office. On a secondment to the UK Treasury he was principal private secretary to two Chancellors of the Exchequer. His service abroad included spells as Ambassador to the European Union from 1990 to 1995, and to the US from 1995 to 1997.
Secretary-General, EU Constitutional Convention 2002-3. Member of the House of Lords since 2004.
Other external appointments (current and recent)
Deputy Chairman of Royal Dutch Shell plc since 2005.
Director
of The "Shell" Transport and Trading Company plc 2002 – 2005.
Director
of The Scottish American Investment Trust plc since 2002.
Chairman of the Court
and Council of Imperial College, London since 2005.
Trustee of the
Rhodes Trust since 1997. Fulbright Commissioner since 2004.
Trustee of the National
Gallery since 2002; Trustee of the Carnegie Trust since 2005.
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David Mayhew
age 65
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 2000. He was last re-elected by the shareholders in 2006 (note b).
Skills and experience
David
joined Cazenove in 1969 from Panmure Gordon. In 1972 he became the firm's dealing partner and was subsequently responsible for the Institutional Broking Department and from
1986 until 2001when he was appointed Chairman, he was the partner in charge of the firm's
Capital Markets Department.
Other external appointments (current and recent)
Chairman of Cazenove Group plc since 2001.
Sir Richard Sykes
BSc (Microbiology) PhD (Microbial Biochemistry), DSc, Kt, FRS, FMedSci age 63
Appointment and election
Director of Rio Tinto plc and Rio Tinto Limited since 1997. Sir Richard was appointed the senior non executive director in 2005. He was last re-elected by shareholders in 2004 and is
Chairman of the Remuneration committee (notes b, c and e).
Skills and experience
After reading microbiology at the University of London, Sir Richard obtained doctorates in microbial chemistry and in science from the University of Bristol and the University of
London respectively. A former chairman of GlaxoSmithKline plc Sir Richard is a Fellow of the Royal Society.
Other external appointments (current and recent)
Director of Lonza Group Limited since 2003, Deputy Chairman since 2005.
Chairman of the Healthcare Advisory Group (Apax Partners Limited) since 2002.
Chairman of
Metabometrix Limited since 2004. Director of Merlion Pharmaceuticals Pte Limited
since 2005.
Director of Abraxis BioScience since 2005.
Chairman of
Medeus (later Zeneus) Holdings Limited between 2004 and 2005.
Chairman of GlaxoSmithKline
plc between 2000 and 2002.
Rector of Imperial College, London since 2001.
Trustee of the Natural History Museum, London between 1996 and 2005 and of the Royal Botanic Gardens, Kew between 2003 and 2005.
DIRECTORS
  WHO LEFT THE GROUP DURING 2005
Robert
  Adams
BSc
  MSc
Appointment
  and election
Director
  of Rio Tinto plc in 1991 and of Rio Tinto Limited in 1995 until 2005
Skills
  and experience
Bob, who died
  at home in January 2005, joined the Group in 1970 after reading natural sciences
  and economics and subsequently gaining an MSc from the London Business School.
  He had a long distinguished career with Rio Tinto becoming the director with
  responsibility for planning and development.
Other
  external appointments
Director of
  Foreign & Colonial Investment Trust plc from 1999 until his death in 2005.
Leon Davis
AO, ASAIT, DSc (hc) Curtin University, University of Queensland, University South
Australia, FAIMM, FRACI.
Appointment and election
Director Rio Tinto plc since 1991 and of Rio Tinto Limited since 1994 until 2005.
Skills and experience
Leon,
who retired at the conclusion of the 2005 annual general meetings, was the Group's
Australia based non executive deputy chairman. He is a metallurgist and during
nearly 50 years with the Group he held a number of managerial posts around the
world, ultimately as chief executive from 1997 to 2000.
Other external appointments (upon leaving the Group)
Chairman
of Westpac Banking Corporation since 2000.
Director of Huysmans Pty Limited since
2000. Director of Trouin Pty Limited since 2000.
President of
the board of The Walter and Eliza Hall Institute of Medical Research since 2003.
Director
of Codan Pty. Limited between 2000 and 2004.
Sir
  Richard Giordano
LLB,
  hon. Dr of Law.
Appointment
  and election
Director of
  Rio Tinto plc since 1991 and Rio Tinto Limited since 1995 until 2005
Skills
  and experience
Sir Richard,
  who retired at the conclusion of the 2005 annual general meetings, was the
  senior
  non executive director, a deputy chairman and also chairman of the Audit committee.
  A lawyer by training, he spent 12 years at BOC Group, first as chief executive,
  then chairman. In 1993, Sir Richard became a director of British Gas, assuming
  the role of chairman in 1994. Sir Richard is also a former chairman of BG Group
  plc.
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Other external appointments (upon leaving the Group)
Director of Georgia Pacific Corporation since 1985 Trustee of Carnegie Endowment for International Peace since 2000.
John
  Morschel
(Diploma
  in Quantity Surveying)
Appointment
  and election
Director
  of Rio Tinto between 1998 and 2005.
Skills
  and experienc
John,
  who retired at the conclusion of the 2005 annual general meetings, was educated
  in Australia and the US, where he spent most of his career with Lend Lease Corporation
  Limited in Australia, culminating as managing director. This was followed by
  two years as an executive director of the Westpac Banking Corporation
Other
  external appointments (upon leaving the Group)
Chairman
  of Rinker Group Limited since April 2003.
Director of ANZ Banking Group since October 2004.
Director of Singapore Telecommunications Limited from September 2001.
Chairman
  of CSR Limited between May 2001 and April 2003.
Chairman
  of Leighton Holdings Limited between November 2001 and March 2004.
Notes
(a)
Audit
      committee
(Sir
      David Clementi, Vivienne Cox, Andrew Gould and Lord Kerr of Kinlochard)
(b)
Nominations
      committee
(Paul
      Skinner, Ashton Calvert, Sir Rod Eddington, David Mayhew and Sir Richard
      Sykes)
(c)
Remuneration
      committee
(Sir
      David Clementi, Richard Goodmanson, Andrew Gould and Sir Richard Sykes)
(d)
Committee
      on social and environmental accountability
(Ashton
      Calvert, Sir Rod Eddington, Richard Goodmanson and Lord Kerr of Kinlochard)
(e)
Independent
(Ashton
      Calvert, Sir David Clementi, Vivienne Cox, Sir Rod Eddington, Richard Goodmanson,
      Andrew Gould, Lord Kerr of Kinlochard, Sir Richard Sykes)
PRODUCT
  GROUP CHIEF EXECUTIVES
Preston
  Chiaro
BSc
  (Hons) Environmental Engineering, MEng Environmental Engineering), age 52
Skills
  and experience
Preston
  was appointed chief executive of the Energy group in September 2003. He heads
  the Group's climate change and sustainable development leadership panels.
  He joined the Group in 1991 at Kennecott Utah Copper's Bingham Canyon mine
  as vice president, technical services. In 1995 he became vice president and
  general manager of Boron operations in California. He was chief executive of
  Rio Tinto Borax from 1999 to 2003.
Other
  external appointments (current and recent)
Director
  of the World Coal Institute since 2003.
Chairman of the Coal Industry Advisory Board to the International Energy Agency
  since 2004.
Director
  of Energy Resources of Australia, since 2003.
Director of Rössing Uranium Limited since 2003.
Director of Coal & Allied Industries Limited since 2003.
Oscar
  Groeneveld
BE
  (Mining), MSc, DIC age 52
Skills
  and experience
Oscar
  has been with the Group for 30 years and was appointed chief executive of the
  Aluminium group in October 2004. He has qualifications in engineering, science
  and management and is also responsible for Rio Tinto Japan, Kennecott Land and
  heads the Group's Safety Leadership Panel. He has occupied senior roles
  in coal, aluminium and technology and was Copper group chief executive from
  1999 to 2004. He was an executive director of the Group from 1998 to 2004.
Other
  external appointments (current and recent)
Australian
  Aluminium Council since 2004 . International Aluminium Association since 2004.
Director of Rio Tinto plc between 1998 and 2004.
Director of Rio Tinto Limited between 1998 and 2004.
Director of Freeport-McMoRan Copper & Gold Inc between 1999 and 2004.
Director
  of Palabora Mining Company Limited between 1999 and 2004.
Keith Johnson
BSc (mathematics), MBA age 44
Skills and experience
Keith was appointed chief executive, Diamonds in 2003. He holds degrees in mathematics and management and is a Fellow of the Royal Statistical Society. Prior to joining Rio Tinto he
  worked in analytical roles in the UK Treasury, private consulting and the oil industry. He joined Rio Tinto in 1991 and has held a series of management positions including head of Business Evaluation and most recently as managing director of Comalco
Mining and Refining.
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Andrew
  Mackenzie
BSc
  (geology), PhD (chemistry) age 49
Skills
  and experience
Andrew
  joined Rio Tinto in 2004 as chief executive Industrial Minerals, previously
  he had been group vice president, BP Petrochemicals. He spent 22 years with
  BP primarily in the UK and North America in senior positions including head
  of Capital Markets in BP Finance, chief reservoir engineer with oversight of
  oil and gas reserves and production, head of Government and Public Affairs worldwide
  and group vice president Technology which included responsibility for research
  and development and engineering.
Other
  external appointments (current and recent)
Director
  of Centrica plc since 2005.
Trustee of Demos since 1998.
Sam
  Walsh
B
  Com (Melbourne) age 56
Skills
  and experience
Sam
  was appointed chief executive of the Iron Ore group in 2004. He joined Rio Tinto
  in 1991, following 20 years in the automotive industry at General Motors and
  Nissan Australia. He has held a number of management positions within the Group,
  including managing director of Comalco Foundry Products, CRA Industrial Products,
  Hamersley Iron Sales and Marketing, Hamersley Iron Operations, vice president
  of Rio Tinto Iron Ore (with responsibility for Hamersley Iron and Robe River)
  and from 2001 to 2004 chief executive of the Aluminium group. Sam is also a
  Fellow of the Australian Institute of Management and the Australian Institute
  of Mining and Metallurgy.
Other
  external appointments (current and recent)
Director
  of the Western Australian Chamber of Commerce and Industry since 2005.
Director of the Australian Mines and Metals Association, between 2001 and 2005.
Director of the Australian Chamber of Commerce and Industry, between 2003 and
  2005.
Note
For
    accounting standards purposes (IAS 24 and AASB 124) the Group's key
    management personnel as defined, comprises the directors and the five product
group chief executives.
COMPANY
  SECRETARIES
Anette
  Lawless
MA,
  FCIS age 49
Skills
  and experience
Anette
  joined Rio Tinto in 1998 and became company secretary of Rio Tinto plc in 2000.
  Before joining Rio Tinto, she spent 11 years with Pearson plc, five of which
  as company secretary. She qualified as a chartered secretary in 1989 and became
  a fellow of the ICSA in 1992. She also holds an MA from the Copenhagen Business
  School.
Other
  external appointments (current and recent)
Member
  of the Regulatory Decisions Committee of the UK Financial Services Authority
  since 2001.
Stephen Consedine
B Bus CPA age 44
Skills and experience:
Stephen joined Rio Tinto in 1983 and has held various positions in
Accounting, Treasury, and Employee Services before becoming company secretary of Rio Tinto Limited in 2002. He holds a bachelor of business and is a certified practising accountant.
EMPLOYEES
Information
  on the Group's employees including their costs, is on page 76, and in Notes
  4 and 37 to the 2005 Financial statements.
REMUNERATION
The Remuneration
  report to shareholders dated 24 February 2006 has been reproduced below, except
  that the page numbers have been revised to reflect those in this combined annual
  report on Form 20-F, Tables 3, 4 and 5 have been augmented to show share interests
  as at the latest practicable date and the references to auditable information
  have been deleted because they do not apply to this document.
Tom
  Albanese was appointed as an executive director on 7 March 2006. He will continue
  as chief executive of the Copper group and head of Exploration until 1 July
  2006 when he will be appointed director, Group Resources.
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Remuneration
  report
Introduction
The board
      of Rio Tinto has pleasure in presenting the Remuneration report to shareholders.
      The report covers the following information: a description of the
Remuneration committee
and
      its duties;
•
a description
      of the policy on directors', product group chief executives' and
      company secretaries' remuneration;
•
a résumé
      of the terms of executive directors' and product group chief executives'
      contracts and non executive
directors' letters of appointment;
•
details
      of each director's and product group chief executive's remuneration
      and awards under long term
incentive plans and the link to corporate performance;
•
details
      of directors' and product group chief executives' interests in
      Rio Tinto shares; and
•
graphs
      illustrating Group performance, including relative to the HSBC Global Mining
      Companies' Index.
Rio
      Tinto is subject to a number of different reporting requirements for the
      contents of the Remuneration report. The Australian Corporations Act requires
      certain disclosures in respect of the five highest paid executives below
      board level, and Australian and International accounting standards (AASB
      124 and IAS 24 respectively) both require additional disclosures for "key
      management personnel". The board has considered the definition of "key
      management personnel" and has decided that, in addition to the executive
      and non executive directors, they comprise the six product group chief executives.
      In the remainder of this report, the executive directors and the product
      group chief executives will collectively be referred to as the executives.
Remuneration
      committee
The
        following independent, non executive directors were members of the
Remuneration
        committee
during
        2005:
•
Sir
      Richard Sykes (chairman)
•
Sir
      David Clementi
•
Richard
      Goodmanson
•
Andrew
      Gould
•
John
      Morschel (to 29 April 2005)
The
      committee met four times during 2005. Members' attendance is set out
      on page 114. The committee's responsibilities are set out in its Terms
      of Reference which can be viewed on Rio Tinto's website. They include:
•
recommending
      remuneration policy relating to the executives to the board;
•
reviewing
      and determining the remuneration of the executives and the company secretary
      of Rio Tinto plc;
•
reviewing
      and agreeing management's strategy for remuneration and conditions
      of employment for managers
other than the executives;
•
monitoring
      the effectiveness and appropriateness of general executive remuneration
      policy and practice; and
•
recommending
      any changes to the chairman's fees.
Jeffery Kortum, Group adviser, remuneration, attends the committee's meetings in an advisory capacity. The chairman, Paul Skinner, and the chief executive, Leigh Clifford, also
  participated in meetings at the invitation of the committee, but were not present when issues relating to their own remuneration were discussed. Anette Lawless, the company secretary of Rio Tinto plc, acts as secretary to the committee, but is not
  present when issues relating to her remuneration are discussed.
In 2004, the committee appointed Kepler Associates, an independent remuneration consultancy, to provide advice on executive remuneration matters. Apart
from providing specialist remuneration advice, Kepler Associates has no links to the Group.
To carry out its duties in accordance with its Terms of Reference, the committee monitors global remuneration trends and developments and draws on a
range of external sources of data, including publications by remuneration consultants Towers Perrin, Hay Group and Watson Wyatt.
Corporate
  governance
The committee
  reviewed its Terms of Reference in 2005 and concluded that, in the course of
  its business, it had covered the main duties set out in the Combined Code, published
  by the UK Financial Reporting Council, and Principle 9 of the ASX Best Practice
  Corporate Governance Guidelines, and was constituted in accordance with the
  requirements of the Code and the ASX Best Practice Corporate Governance Guidelines.
The
  board considered the performance of the committee and confirmed that the committee
  had satisfactorily performed the duties set out in its Terms of Reference.
The
  2004 Remuneration report was approved by shareholders at the 2005 annual general
  meetings.
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Executive
      remuneration
Board
      policy
Rio
      Tinto operates in a global market, where it competes for a limited resource
      of talented, internationally mobile executives. It recognises that to achieve
      its business objectives, the Group needs high quality, committed people.
Rio
      Tinto has, therefore, designed an executive remuneration policy to support
      its business goals by enabling it to attract, retain and appropriately reward
      executives of the calibre necessary to produce very high levels of performance.
      The main principles of the Group's executive remuneration policy are:
•
to provide
      total remuneration which is competitive in structure and quantum with comparator
      companies'
practices in the regions and markets within which the Group
      operates;
•
to
      achieve clear alignment between total remuneration and delivered business
      and personal performance, with
particular emphasis on shareholder value creation;
•
to
      link variable elements of remuneration to the achievement of challenging
      performance criteria that are
consistent with the best interests of the Group and shareholders
      over the short, medium and long term;
•
to
      provide an appropriate balance of fixed and variable remuneration; and
•
to
      provide appropriate relativities between executives globally, in order to
      support executive placements to meet
the needs of the Group.
The
        composition of total remuneration packages for senior management, including
        the remuneration of the company secretaries, is designed to provide an
        appropriate balance between the fixed and variable components. This is
        in line with Rio Tinto's stated objective of aligning total remuneration
        with personal and business performance. Details of executives' remuneration
        composition are set out in Table 1 on pages 98 to 100.
Executive
        remuneration is explicitly related to business performance through:
•
the
      Short Term Incentive Plan, which is based on assessment of personal performance
      as well as Group and
relevant product group underlying earnings and safety targets
      established by the
•
Remuneration
      committee
each
      year;
•
the
      Share Option Plan and Mining Companies Comparative Plan, which link vesting
      of options or shares to Rio
Tinto total shareholder return performance relative to that
      of other nominated comparator companies.
The
      Group's return to shareholders over the last five years is set out
      in the table on page 93.
Remuneration components
Base salary
Base salaries for executives are reviewed annually, taking into account the nature of the individual executive's role, external market trends and business and personal
  performance. The
Remuneration committee
uses a range of international companies of a
  similar size, global reach and complexity to make this comparison.
Short
      term incentive plan (STIP)
STIP
      provides an annual cash bonus opportunity for participants and is designed
      to support overall remuneration policy by:
•
focusing
      participants on achieving goals which contribute to sustainable shareholder
      value; and
•
providing
      significant bonus differential based on performance against challenging
      personal, business, and other
targets, including safety.
The
Remuneration
  committee
reviews and approves performance targets and objectives for
  executives annually. Executive directors' STIP payments are linked to three
  performance criteria: Group financial performance, Group safety performance
  and personal performance. Product group chief executives' STIP payments
  are linked to Group and product group financial performance, product group safety
  performance and personal performance. Group and product group financial performance
  is partly measured on an actual underlying earnings basis and partly on a basis
  normalised for fluctuations of market prices and exchange rates.
The
  target level of bonus for executives for 2006 is 60 per cent of salary, the
  same as 2005. Executives may receive up to twice their target (ie up to 120
  per cent of salary) for exceptional performance against all criteria.
Details relating to STIP awards for 2005 are
  on pages 93 to 94.
Long term incentives
Shareholders approved two long term incentives at the annual general meetings in 2004, the Share Option Plan and the Mining Companies Comparative Plan.
These are intended to provide the
Remuneration committee
with a means of linking management's rewards to Group performance. The committee regards total shareholder return (TSR) as the most appropriate measure of a
company's performance for the purpose of share based long term incentives and a TSR performance measure is therefore applied to both plans.
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Share
      Option Plan (SOP)
Each year,
      the
Remuneration
      committee
considers whether a grant of options should be made under the
      SOP, and if so, at what level. In arriving at a decision, the committee
      takes into consideration the personal performance of each executive as well
      as local remuneration practice.
No
      options will become exercisable unless the Group has met stretching performance
      conditions. In addition, before approving any vesting and irrespective of
      performance against the respective performance conditions, the
Remuneration
      committee
retains discretion to satisfy itself that the TSR performance
      is a genuine reflection of underlying financial performance.
Under
      the plan, approved by shareholders at the 2004 annual general meetings,
      vesting is subject to Rio Tinto's TSR equalling or outperforming the
      HSBC Global Mining Index over a three-year performance period. The HSBC
      Global Mining Index covers the mining industry in 27 countries. Rio Tinto's
      TSR is calculated as a weighted average of the TSR of Rio Tinto plc and
      Rio Tinto Limited. If TSR performance equals the index, the higher of one
      third of the original grant or 20,000 options will vest (subject to the
      actual grant level not being exceeded). The full grant vests if the TSR
      performance is equal to or greater than the HSBC Global Mining Index plus
      five per cent per annum. TSR performance at this level historically has
      been equivalent to the upper quartile of companies in the index. Between
      these points, options vest on a sliding scale, with no options becoming
      exercisable for a three year TSR performance below the index.
Options
      granted under the 2004 plan before 31 December 2006 will be subject to a
      single fixed base retest five years after grant if they have not vested
      after the initial three year performance period, with options granted after
      31 December 2006 not subject to any retest. These latter options will, therefore,
      lapse if they do not vest at the conclusion of the three year performance
      period. Options granted during 2006 will be the last which will be subject
      to a potential re-test.
Prior
      to any options being released to participants for exercise, the Group's
      performance against the criteria relevant to the SOP is examined and verified
      by the external auditors. If Rio Tinto were subject to a change of control
      or a company restructuring, options would become exercisable subject to
      the satisfaction of the performance condition measured at the time of the
      takeover or restructure.
Where
      an option holder dies in service, qualifying options vest immediately, regardless
      of whether the performance conditions have been satisfied. The estate will
      have 12 months in which to exercise the options.
The
      maximum grant under the SOP is three times salary, based on the average
      share price over the previous financial year. Under the SOP, no options
      are granted at a discount and no amount is paid or payable by the recipient
      on receipt of the options. Executives may, however, be granted options at
      a discount under the Rio Tinto Share Savings Plan, described under
'Share based
      remuneration not dependent on performance'
below.
For
        SOP grants made prior to 2004:
•
two
      thirds of options vest when growth in the Group's adjusted earnings
      per share (under UK GAAP) for a three
year performance period is at least nine percentage points
      higher than US inflation over the same period, as
measured
      by the US Consumer Price Index;
•
the
      balance of the grant vests when growth of at least 12 percentage points
      above US inflation has been achieved;
•
Rio
      Tinto performance is tested against the performance condition after three
      years; and
•
there
      is an annual retest on a three year rolling basis until options fully vest
      or lapse at the end of the option
period.
All
      remaining open options granted on this basis (under the Plan approved in
      1998) will have vested on or before 7 March 2006.
Mining Companies Comparative Plan (MCCP)
Rio Tinto's performance share plan, the MCCP, provides participants with a conditional right to receive shares. The conditional awards will only vest if performance conditions
  approved by the committee are satisfied. Again, were there to be a change of control or a company restructuring, the awards would only vest subject to the satisfaction of the performance condition measured at the time of the takeover or
  restructuring. Additionally, if a performance period is deemed to end during the first 12 months after the conditional award is made, that award will be reduced pro-rata. These conditional awards are not pensionable.
The performance condition compares Rio Tinto's TSR with the TSR of a comparator group of 15 other international mining companies over the same four
year period. The composition of this comparator group is reviewed regularly by the committee to provide continued relevance in a consolidating industry. The members of this group relevant to the 2005 conditional award are listed in the note below
the ranking table on page 90. The comparator group for the 2006 conditional award will be determined by the
Remuneration committee
prior to approving the award.
The maximum conditional award size under the current MCCP is two times salary, calculated using the average share price over the previous financial
year.
The following table shows the percentage of each conditional award which will be received by executives based on Rio Tinto's four year TSR
performance relative to the comparator group for conditional awards made after 1 January 2004:
Ranking
      in comparator group
1st-2nd
3rd
4th
5th
6th
7th
8th
9th-16th
%
150
125
100
83.75
67.5
51.25
35
—
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The
      historical ranking of Rio Tinto in relation to the comparator group is shown
      in the following table:
Ranking
      of Rio Tinto versus comparator companies
Period
Ranking
      out of 16
1993
      - 97
4
1994
      - 98
4
1995
      - 99
2
1996
      - 00
2
1997
      - 01
2
1998
      - 02
3
1999
      - 03
7
2000
      - 04
11
2001
      - 05
10
Note
Comparator
      companies for the 2005 Conditional Award were:
Alcan,
      Alcoa, Anglo American, Barrick Gold, BHP Billiton, Freeport, Grupo Mexico,
      INCO, Newmont, Noranda, Phelps Dodge, Placer Dome, Teck Cominco, WMC Resources
      and Xstrata
Before awards
    are released to participants, the external auditors and Kepler Associates
    independently review the Group's TSR performance compared to that of
    the comparator
companies.
Awards are released to participants as either Rio Tinto plc or Rio Tinto Limited shares or as an equivalent amount in cash. In addition, for MCCP
Conditional Awards made after 1 January 2004, a cash payment equivalent to the dividends that would have accrued on the vested number of shares over the four year period will be made to executive directors and product group chief
executives.
Shares to satisfy the vesting may be treasury shares, shares purchased in the market, by subscription, or, in the case of Rio Tinto Limited, transfers of
existing shares.
Post employment benefits
Under
  current pension arrangements, executives are normally expected to retire at the
  age of 60, except executives with Australian employment contracts, who would
  normally be expected
  to retire at age 62. In 2004, Leigh Clifford's contractual retirement age
  was reduced from 62 to 60, with a corresponding change to his retirement arrangements.
United Kingdom
Guy Elliott participates in the non contributory Rio Tinto Pension Fund, a funded, Inland Revenue approved, occupational pension scheme. The fund provides both defined benefit and
  defined contribution benefits. In April 2005, the defined benefit section of the Rio Tinto Pension Fund was closed to new participants.
Guy Elliott is a member of the defined benefit section, accruing a pension from normal retirement age at 60 of two thirds final pensionable salary,
subject to completion of 20 years' service. Proportionally lower benefits are payable for shorter service or, if, having attained 20 years' service, retirement is taken prior to the age of 60. Members of the defined benefit section who
retire early may draw a pension reduced by approximately four per cent a year for each year of early payment from age 50 onwards. Spouse and dependants' pensions are also provided. Pensions paid from this section are guaranteed to increase
annually in line with increases in the UK Retail Price Index subject to a maximum of ten per cent per annum. Increases above this level are discretionary.
During 2005, no Company cash contributions were paid into the Rio Tinto Pension Fund as the fund remained fully funded.
Rio Tinto has reviewed its pension policy in the light of the legislation changes being introduced from April 2006, which will remove the earnings
"cap" and introduce a Lifetime Allowance. The Rio Tinto Pension Fund is being amended to incorporate a fund specific limit equivalent to the earnings cap for all members previously affected; unfunded benefits will continue to be provided,
where already promised, on pensionable salary above the fund specific limit. There will be no change to the pension promise in place for the current executive director, and the unfunded arrangements described above may be utilised to deliver this
promise.
Australia
Leigh Clifford, is a member of the Rio Tinto Staff Superannuation Fund, a funded superannuation fund regulated by Australian legislation. The fund provides both defined benefit and
  defined contribution benefits. He is a defined benefit member, accruing lump sums payable on retirement. Retirement benefits are limited to a lump sum multiple of up to seven times final basic salary at age 62, although, as stated above, Leigh
  Clifford will retire at age 60. For retirement after 62, the benefit increases to up to 7.6 times average salary at age 65.
Death in service and disablement benefits are provided as lump sums and are equal to the prospective age 65 retirement benefit. Proportionate benefits
are also payable on termination of employment for ill health or resignation.
Executives are not required to pay contributions. During 2005, Company cash contributions were paid into the Rio Tinto Staff Superannuation Fund to fund
members' defined benefit and defined contribution benefits.
Other pensionable benefits
The
  percentage of total remuneration which is dependent on performance is substantial.
  The committee considers it appropriate that a proportion of this "at risk" pay
  should
  be pensionable. Annual STIP awards are pensionable up to a
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maximum
  value of 20 per cent of basic salary. For Australian participants this results
  in a defined contribution payment equivalent to 20 per cent of the pensionable
  component of STIP and does not impact the defined benefit component.
The
Remuneration
  committee
has determined that for any new executive directors, STIP will
  not be pensionable.
Details of directors' pension and superannuation
  entitlements are set out in Table 2 on page 101.
Performance and non performance related remuneration
Total remuneration is a combination of fixed and performance related elements, each of which is described in this report. In addition, some executives have specific arrangements for
  remuneration outside the performance and non performance related remuneration. These include expatriate/secondment packages, which may include items such as housing benefit, assistance with incremental school fees and tax equalisation. Other
  compensation includes medical insurance and the provision of a company car and fuel, or an allowance in lieu. The total remuneration for executives shown in Table 1 includes these non performance related items, which are specific to the
  circumstances of each executive.
The performance related, or variable, elements are the short and long term incentive plans, which are linked to achievement of business and personal
performance goals and are, therefore, "at risk". The rest of the elements of the package are "fixed", as they are not at risk, although some, such as base salary, are also related to performance.
Excluding post employment costs and expatriate secondment costs, employment costs and other benefits, the proportion of total direct remuneration
provided by way of variable components, assuming target levels of performance, is approximately 68 per cent for the chief executive, 62 per cent for the finance director and between 62 per cent and 68 per cent for the product group chief executives.
Variable components comprise the Short Term Incentive Plan, the Share Option Plan and the Mining Companies Comparative Plan (STIP, SOP and MCCP). The actual proportion of total direct remuneration provided by way of variable components is set out in
Table 1 on pages 98 to 100 and may differ from these target percentages depending on Company and personal performance.
Share based remuneration not dependent on performance
Senior management may participate in share and share option plans that apply to all employees at particular locations and for which neither grant or vesting is subject to the
  satisfaction of a performance condition. These plans are consistent with standard remuneration practice whereby employees are offered share and option plan participation as part of their employment entitlements in order to encourage alignment with
  the long term performance of the Company.
Executives employed in the Rio Tinto plc part of the Group may participate in the Rio Tinto plc Share Savings Plan, a savings related plan which is open
to employees in the UK and elsewhere. Under the plan, participants can save up to £250 per month, or equivalent in local currency, for a maximum of five years. At the end of the savings period participants may exercise an option over shares
granted at a discount of up to 20 per cent to the market value at the time of the grant. The number of options participants are entitled to is determined by the option price, the savings amount and the length of the savings contract. No
consideration is paid or payable by the recipient on receipt of the options. The UK section of this plan is Inland Revenue approved.
Eligible UK employees, including some of the executives, may also participate in the Rio Tinto Share Ownership Plan, an Inland Revenue approved share
incentive plan which was approved by shareholders at the 2001 annual general meeting and introduced in 2002. Under this plan, participant employees can save up to £125 per month, which the plan administrator invests in Rio Tinto plc shares. Rio
Tinto matches these purchases on a one for one basis. In addition, eligible employees may receive an annual award of Rio Tinto shares up to a maximum of five per cent of salary, subject to a cap of £3,000.
Executives employed in the Rio Tinto Limited part of the Group may elect to participate in the Rio Tinto Limited Share Savings Plan, also introduced in
2001, which is similar to the Rio Tinto plc Share Savings Plan.
Service
      contracts
Each
      of the executives has a service contract with a Group company. Full details
      of remuneration provided during service are set out in this report.
It
      is the Group's policy that the service contracts of all executives
      have no fixed term but be capable of termination giving no more than 12
      months' notice. Notice periods for executives are as follows:
Notice
      periods
Remaining
service
      period
Date
      of
Notice
if
      less than
Agreement
period
12
      months
Executive
      directors
Leigh
      Clifford
30
      Mar 2005
12
      months
n/a
Guy
      Elliott
19
      Jun 2002
12
      months
n/a
Product
      group chief executives
n/a
Tom
      Albanese
3
      Aug 2004
12
      months
n/a
Preston
      Chiaro
30
      Sep 2003
12
      months
n/a
Oscar
      Groeneveld
1
      Oct 2004
12
      months
n/a
Keith
      Johnson
12
      Mar 2004
12
      months
n/a
Andrew
      Mackenzie
4
      May 2004
12
      months
n/a
Sam
      Walsh
3
      Aug 2004
12
      months
n/a
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Termination payments
Rio
  Tinto has retained the right to pay executives in lieu of notice. Given the
    wide variety of possible circumstances leading to early termination, the
    executives' service
  contracts do not provide explicitly for compensation, but in the event of early termination, it is the Group's
  policy to act fairly in all circumstances and the duty to mitigate would be
  taken into account. Compensation would not provide
  unmerited reward for poor performance.
There were no termination payments made in 2005. However, a contractual payment was made to Christopher Renwick, a former product group chief executive,
who left the Group on 1 December 2004, in respect of housing costs incurred as a consequence of his relocation during employment at the request of the Group. This payment is shown in Table 1 on pages 98 to 100 as a termination benefit in 2005 as it
was paid after he left the Group.
Shareholding policy
In
  2002, the committee decided that it would be appropriate to encourage executives
  to build up a substantial shareholding, aiming to reach a holding equal in value
  to two times base
  salary over five years. Details of executives' share interests in the Group
  are set out in Table 3 on page 102.
Remuneration paid in 2005
Performance of Rio Tinto, product groups and individual executives
2005 was a year of generally very strong operational performance and was the second successive year of record results for the Group.
To illustrate the performance of the Companies relative to their markets, graphs showing the performance of Rio Tinto plc in terms of TSR over the last
five years, compared to the FTSE 100 Index and Rio Tinto Limited compared to the ASX All Ordinaries Index are reproduced below. A graph showing Rio Tinto's performance relative to the HSBC Global Mining Index is also included to illustrate the
performance of Rio Tinto relative to other mining companies. The effect of this performance on shareholder wealth is detailed in the table below.
TSR
      (£) – Rio Tinto plc vs FTSE 100
Total return basis
Index 2000 = 100
TSR
    (A$) – Rio Tinto Limited vs ASX All Share
Total
  return basis
Index 2000 = 100
TSR
      (US$) – Rio Tinto Group vs HSBC Global Mining Index
Total
return basis
Index 2000 = 100
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Rio
      Tinto shareholder return 2001-2005
Dividends per share
Share
      price
Share
      price
Total
paid
      during the year
Rio
      Tinto plc
Rio Tinto Limited
shareholder
return
      (TSR)
1
      Jan
31
      Dec
1
      Jan
31
      Dec
US
      cents
pence
pence
A$
A$
%
2005
83.5
1,533
2,655
39.12
69.00
77.5
2004
66.0
1,543
1,533
37.54
39.12
1.7
2003
60.5
1,240
1,543
33.95
37.54
27.9
2002
68.5
1,316
1,240
37.21
33.95
(2.3
)
2001
58.5
1,178
1,316
29.44
37.21
15.5
Rio Tinto Group and product group performance during 2005, and over relevant performance periods ending at
31
December 2005, impacted executives' remuneration as follows:
Share
      based awards
•
MCCP
      – Rio Tinto ranked tenth in the sixteen company comparator group at
      the completion of the four-year performance period ending 31 December 2005,
      resulting in zero vesting of the conditional award made to executives who
      were directors at the date of the conditional award. This group included
      Leigh Clifford, Guy Elliott and Oscar Groeneveld. The vesting shown in Table
      4 on pages 103 to 106, for other product group chief executives, where relevant,
      is in accordance with the performance condition applicable to the 2002 award
      and represents 25 per cent of the original awards.
•
SOP
      – Rio Tinto EPS growth over the three years ending 31 December 2005
      exceeded the level required by the
applicable
      performance condition and this grant will vest in full on 7 March 2006.
Annual
  cash bonus
Cash
  bonuses (STIP) in respect of the 2005 performance period, to be paid in March
  2006, are set out in Table 1 on pages 98 to 100 and the percentages awarded
  to each executive (or forfeited) are set out in the table on page 95. These
  bonuses were approved by the committee on the basis of delivered performance
  against financial, safety and personal targets and objectives for each executive.
Financial
  performance was assessed against underlying earnings targets for the Group and
  relevant product group as established by the committee at the commencement of
  the performance period. The potential impact of fluctuations in exchange rates
  and some prices are outside the control of the Group. The committee therefore
  compares, on an equal weighting basis, both actual results and underlying performance.
  This approach is designed to ensure that the annual bonus reflects financial
  results and addresses underlying performance excluding the impact of prices
  and exchange rates. The committee retains discretion to consider underlying
  business performance in deciding STIP awards.
The
  safety measures included Group or relevant product group lost time injury frequency
  rates (LTIFR) and overall assessment of progress against improvement targets
  in other safety measures, including all injury frequency rates (AIFR). These
  measures are chosen as they reflect the priority of safety at all Rio Tinto
  operations.
Personal
  performance targets and objectives were established for each executive at the
  start of the performance period. These comprise a balanced set of measures for
  each individual that reflect current operational performance, as well as progress
  on initiatives and projects designed to grow the value of each business unit
  and the Rio Tinto portfolio. The targets and objectives chosen enable personal
  performance and the benefit accruing to shareholders in the long term to be
  mirrored in each of the executives' "at risk" remuneration.
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To achieve
    linkage between business/financial and personal/non-financial performance
    and remuneration, each executive director's STIP payment is calculated
as a percentage of salary in accordance with the formula set out below:
Target
STIP
(60
%)
Business
      / financial
Personal
      / non financial
(score
      = 0% to 133%)
(score
      = 0% to 133%)
x
75%
      weight
25%
      weight
x
Group
Group
Personal
      targets
financial
      results
safety
      performance
and
      objectives
For each product group chief executive, STIP payments are calculated as a percentage of salary in accordance with the formula set out below:
Target
STIP
(60
%)
Business
      / financial
Personal
      / non financial
(score
      = 0% to 133%)
(score
      = 0% to 133%)
x
40%
      weight
60%
      weight
x
25%
      weight
75%
      weight
Group
Product
      group
Product
      group
Personal
      targets
financial
      results
safety
      performance
safety
      performance
and
      objectives
The
      following is a summary of the business, financial and safety STIP remuneration
      outcomes for 2005. Full details of overall STIP outcomes are listed below:
•
Strong
      Group financial performance for 2005 resulted in a STIP score at the maximum
      level (133 per cent of
target) for this component.
•
Financial
      performance for each product group varied and the
Remuneration
      committee
approved STIP scores
ranging
      from 80 per cent of target to 133 per cent of target (the maximum) for this
      component.
•
Continued
      improvement in Group safety performance resulted in the
Remuneration
      committee
approving
      a score
of
      125 per cent of target (maximum is 133 per cent) for this component.
•
Product
      group safety performance varied and STIP scores ranged from 80 per cent
      of target to 140 per cent of
target (where 150 per cent is the maximum achievable) for this
      component.
•
Total
      STIP awards for executives ranged from 71 per cent to 106 per cent of salary
      (59 per cent to 88 per cent of
maximum).
Each of the results set out below therefore reflect a second successive year of record results, strong operational performance and portfolio initiatives to secure future value for the
business across the Group.
Leigh
  Clifford
The
  committee assessed personal performance as above target and the overall STIP
  award was 157.2 per cent of target (78.6 per cent of maximum).
Guy
  Elliott
The
  committee assessed personal performance as above target and the overall STIP
  award was 170.3 per cent of target (85.2 per cent of maximum).
Tom
  Albanese
The
  committee assessed product group financial performance and personal performance
  as above target and product group safety performance at target. The overall
  STIP award was 157.9 per cent of target (79 per cent of maximum).
Preston
  Chiaro
The
  committee assessed product group financial performance as below target and safety
  and personal performance as above target. The overall STIP award was 120.2 per
  cent of target (60.1 per cent of maximum).
Oscar
  Groeneveld
The
  committee assessed product group financial performance and personal performance
  as above target and safety performance at target. The overall STIP award was
  124.9 per cent of target (62.5 per cent of maximum).
Keith
  Johnson
The
  committee assessed product group financial performance and personal performance
  as above target and safety performance as below target. The overall STIP award
  was 142.4 per cent of target (71.2 per cent of maximum).
Andrew
  Mackenzie
The
  committee assessed product group financial performance as at target, personal
  performance as above target and safety performance as below target. The overall
  STIP award was 118.9 per cent of target (59.4 per cent of maximum).
Sam
  Walsh
The
  committee assessed product group financial and safety performance and personal
  performance as above target. The overall STIP award was 176.2 per cent of target
  (88.1 per cent of maximum).
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Share
      based payment – long term incentives granted in 2005
Options
  over either Rio Tinto plc or Rio Tinto Limited shares were granted to each
  executive under the Share Option Plan on 9 March 2005. The
Remuneration committee
reviewed
  the performance condition applicable to this grant and confirmed that vesting
  will be dependent on Rio Tinto TSR relative to the HSBC Global Mining Index
  over a three year performance period. Share options granted are included in
  Table 5 on pages 107 to 112.
A
conditional award of performance shares in either Rio Tinto plc or Rio Tinto
Limited shares was made to each executive under the MCCP on 9 March 2005. The
Remuneration
committee
reviewed
the performance condition applicable to the conditional award and confirmed that
vesting will be dependent on Rio Tinto TSR relative to 15 other mining companies.
The
percentages of maximum bonuses made in respect of 2005 and grants vested in respect
of performance periods ending 31 December 2005, as well as the percentages forfeited
because the relevant Company or individual did not meet the performance criteria
required for full vesting, are as follows:
Bonuses
      and grants made during or in respect of 2005
STIP Cash
1
SOP Options
2
MCCP Shares
3
%
      of
%
      of
%
%
%
%
maximum
maximum
vested
forfeited
vested
forfeited
vested
forfeited
Robert
      Adams
4
50.0
50.0
100
—
42.3
57.7
Leigh
      Clifford
78.6
21.4
100
—
—
100
Guy
      Elliott
85.2
14.8
100
—
—
100
Tom
      Albanese
79.0
21.0
100
—
25
75
Preston
      Chiaro
60.1
39.9
100
—
25
75
Oscar
      Groeneveld
62.5
37.5
100
—
—
100
Keith
      Johnson
71.2
28.8
100
—
25
75
Andrew
      Mackenzie
5
59.4
40.6
N/A
n/a
n/a
n/a
Sam
      Walsh
88.1
11.9
100
—
25
75
Notes
1.
Paid in March 2006 in respect of 2005.
2.
Vesting of 2003 grant in March 2006.
3.
Vesting of 2002 Conditional Award in February 2006.
4.
Robert Adams' conditional award vested on a pro-rata basis reflecting his period of employment.
5.
Andrew Mackenzie joined in 2004 after the 2003 SOP and 2002 MCCP awards had been made.
The estimated maximum and minimum total value of bonuses and share and option based compensation for the 2006 financial year are set out below.
Minimum
      and maximum total bonuses and grants 2006
STIP Cash
1
SOP Options
2
MCCP Shares
3
Potential
      range of bonus
(%
      of March 2006 salary)
2,3
(%
      of March 2006 salary)
2,4
payments
      in March 2007 in
respect of 2006
Min
Max
Min
Max
Min
Max
US$
US$
Leigh
      Clifford
—
1,835,136
—
300
—
200
Guy
      Elliott
—
1,161,216
—
200
—
140
Tom
      Albanese
—
948,000
—
300
—
200
Preston
      Chiaro
—
720,000
—
300
—
200
Oscar
      Groeneveld
—
1,141,920
—
200
—
140
Keith
      Johnson
—
756,864
—
200
—
140
Andrew
      Mackenzie
5
—
839,808
—
200
—
140
Sam
      Walsh
—
1,054,080
—
200
—
140
Notes
1.
Based on exchange rate £1 = US$1.728 and A$1 = US$0.732.
2.
Grant / Conditional Award based on the average share price during 2005.
3.
SOP
      Options to be granted in 2006 may, subject to achievement of the performance
      condition, vest in 2009, with a potential re-test in 2011. The maximum value
      of these options at the date of vesting would be calculated by multiplying
      the number of vested options by the intrinsic value at that time (ie the
      difference between the option exercise price and the current market price).
4.
MCCP performance
shares to be granted in 2006 may, subject to achievement of the performance condition,
vest in 2010. The maximum value of these shares at the date of vesting would
be calculated by multiplying the number of vested shares by the intrinsic value
at that time (ie the current market price plus, the value of dividends "earned" on
the vested shares during the performance period).
External
  appointments
Executive
  directors are likely to be invited to become non executive directors of other
  companies. Rio Tinto believes that such appointments can broaden their experience
  and knowledge, to the benefit of the Group. It is Group policy to limit executive
  directors' external directorships to one FTSE 100 company or equivalent
  and they are not allowed to take on the chairmanship of another FTSE 100 company.
  In addition the chairman of Rio Tinto is not permitted to take
on
the chairmanship of another FTSE 100 company, or equivalent.
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Consequently, where there is no likelihood that such directorships will give rise to conflicts of interests, the board will normally give consent to the
appointment, with the director permitted to retain the fees earned. Details of fees earned are set out in the notes to Table 1 on pages 98 to 100.
Company
  secretary remuneration
The
  board policy described above applies to the company secretary of each of Rio
  Tinto plc and Rio Tinto Limited. The secretaries participate in the same performance
  based remuneration arrangements as the executives. The individual performance
  measures for the secretaries' annual cash bonus comprise company and personal
  measures. Their personal measures reflected the key responsibilities of the
  company secretarial role and included ensuring compliance with regulatory requirements,
  oversight of good corporate governance practice and the provision of corporate
  secretarial services.
Chairman
  and non executive director remuneration
Remuneration
  policy
Reflecting
  the board's focus on long term strategic direction and corporate performance
  rather than short term results, remuneration for the chairman and non executive
  directors is structured with a fixed fee component only, details of which are
  set out below and in Table 1 on pages 98 to 100. The board as a whole determines
  non executive directors' fees, although non executive directors do not
  vote on any changes to their own fees. Fees are set to reflect the responsibilities
  and time spent by the directors on the affairs of Rio Tinto. To reflect the
  commitment expected from directors, as well as market practice for similar companies,
  non executive directors' base fees were increased from £50,000 to
  £60,000 in late 2005, the first such increase since 2001.
It
  is Rio Tinto's policy that the chairman should be remunerated on a competitive
  basis and at a level which reflects his contribution to the Group, as assessed
  by the board. The chairman is not present at any discussion regarding his own
  remuneration. He does not participate in the Group's incentive plans or
  pension arrangements.
Letters
  of appointment
Non
  executive directors have formal letters of appointment setting out their duties
  and responsibilities. These letters are available for inspection at Rio Tinto
  plc's registered office prior to the annual general meeting and at the
  meeting itself. Each non executive director is appointed subject to periodic
  re-election by shareholders as detailed on page 116. There are no provisions
  for compensation payable on termination of any non executive director's
  directorship.
The
  chairman's letter of appointment summarises his duties as chairman of the
  Group and was agreed by the
Remuneration committee
.
  It stipulates that he is expected to dedicate at least three days per week on
  average to carry out these duties. The letter envisages that Paul Skinner will
  continue in the role of chairman until he reaches the age of 65 in 2009, subject
  to re-election as a director by shareholders, although the appointment may be
  terminated by either Rio Tinto or Paul Skinner giving six months' notice.
  Other than in this case, there is no provision for compensation payable on termination
  of his chairmanship or directorship.
Remuneration
      components
The following table sets out the annual fees payable to the chairman and
      the non executive directors in £/A$ as appropriate.
As
      at 31 Dec 2005
As
      at 1 Jan 2005
Base
      fees:
Chairman
£
      600,000
£550,000
Other
      directors
£60,000
      / A$150,000
£50,000
      / A$125,000
Additional
      fees:
Senior
      independent director
£35,000
£30,000
Audit
      committee chairman
£20,000
£20,000
Audit
      committee member
£10,000
£10,000
Remuneration
      committee chairman
£15,000
£15,000
Remuneration
      committee member
£5,000
£5,000
Committee
      on social and environmental accountability chairman
£10,000
—
Committee
      on social and environmental accountability member
£3,000 / A$7,500
—
Overseas
      meeting allowances:
Long
      distance (flights over 10 hours per journey)
£4,000 / A$10,000
£4,000
      / A$10,000
Medium
      distance (flights of 5-10 hours per journey)
£2,000 / A$5,000
£2,000
      / A$5,000
No additional fee is payable to the chairman or members of the
Nominations committee
although
  this arrangement remains subject to review and will depend on the volume of
  committee business going forward. In light of the increased volume of committee
  work, it was decided in June 2005 to introduce a £10,000 fee for the chairman
  of the
Committee on social and environmental accountability
and a £3,000 fee for
members.
Rio Tinto
      does not pay retirement benefits or allowances to the chairman or non executive
      directors nor do any participate in any of the Group's
incentive plans. Where the payment of statutory minimum superannuation contributions
      for Australian non executive directors is required by the Australian superannuation
      guarantee legislation, these contributions are deducted from the directors'
overall fee entitlements.
Rio
        Tinto 2005
Form
    20-F
96
Back to Contents
Remuneration
  paid during 2005
Details
  of the nature and amount of each element of remuneration paid to the chairman
  and non executive directors during 2005 are set out in Table 1 on pages 98 to
  100. No post employment, long term or termination payments were paid and no
  share based payments made.
Auditable information
Intentionally deleted.
Directors'
      total remuneration as defined under Schedule 7A of the Companies Act 1985
2005
2004
US$'000
US$'000
Chairman
Paul
      Skinner
1,049
963
Non
      executive directors
Ashton
      Calvert
132
—
Vivienne
      Cox
107
—
Sir
      David Clementi
138
110
Leon
      Davis
95
275
Sir
      Rod Eddington
43
—
Sir
      Richard Giordano
80
191
Richard
      Goodmanson
127
8
Andrew
      Gould
142
110
Lord
      Kerr
130
115
David
      Mayhew
122
122
John
      Morschel
43
155
Sir
      Richard Sykes
188
127
Lord
      Tugendhat
—
37
Executive
      directors
Robert
      Adams
220
1,777
Leigh
      Clifford
3,093
3,150
Guy
      Elliott
1,872
1,781
Oscar
      Groeneveld
—
1,215
Annual
  general meetings
Shareholders
  will be asked to vote on this Remuneration report at the Companies' forthcoming
  annual general meetings.
By order of the board
Anette
      Lawless
Secretary
Remuneration
      Committee
24
February 2006
Note
This
        Remuneration report was approved at the Companies' 2006 annual general
    meetings.
Rio
        Tinto 2005
Form
    20-F
97
Back to Contents
Table
      1 – Total remuneration of directors and product group chief executives
Primary
Equity
Short
      term employee benefits and costs
Long
      term
Value of share based awards
6
benefits
Base
Cash
Other
Non-
Second-
Employ-
Long
MCCP
7
SOP
8
SSP/
salary
bonus
cash
monetary
ment
ment
service
5
Others
9
based
benefits
2
costs
3
costs
4
Stated in US$'000
1
benefits
2
Chairman
Paul
      Skinner
1,017
—
31
1
—
133
—
—
—
—
Non
      executive directors
Ashton
      Calvert
13
101
—
31
—
—
7
—
—
—
—
Vivienne
      Cox
13
100
—
7
—
—
13
—
—
—
—
Sir
      David Clementi
123
—
15
—
—
16
—
—
—
—
Leon
      Davis
13,14
94
—
—
—
—
5
—
—
—
—
Sir
      Rod Eddington
13
35
—
8
—
—
5
—
—
—
—
Sir
      Richard Giordano
13,14
61
—
7
—
—
8
—
—
—
—
Richard
      Goodmanson
112
—
15
—
—
—
—
—
—
—
Andrew
      Gould
135
—
7
—
—
—
—
—
—
—
Lord
      Kerr
115
—
15
—
—
15
—
—
—
—
David
      Mayhew
15,16
108
—
15
—
—
—
—
—
—
—
John
      Morschel
13,14
43
—
—
—
—
2
—
—
—
—
Sir
      Richard Sykes
16
174
—
15
—
—
—
—
—
—
—
Executive
      directors
17,19
Robert
      Adams –
Planning
      &
Development
2
76
38
102
4
—
125
—
1,155
582
1
Leigh
      Clifford –
Chief
      Executive
18
1,492
1,348
31
5
160
363
—
1,651
1,277
2
Guy
      Elliott –
Finance
923
906
27
6
—
256
—
881
480
10
Product
      group chief executives
19
Tom
      Albanese –
Copper
      & Exploration
20
730
682
—
46
932
32
—
821
680
14
Preston
      Chiaro –
Energy
537
393
21
12
1,050
64
—
652
343
14
Oscar
      Groeneveld –
Aluminium
883
642
—
121
138
129
—
579
457
2
Keith
      Johnson –
Diamonds
607
498
13
22
—
148
—
473
203
8
Andrew
      MacKenzie –
Industrial
      Minerals
683
466
11
21
—
124
—
414
93
7
Chris
      Renwick –
Iron
      Ore (retired)
5
—
—
—
—
—
110
—
—
—
—
Sam
      Walsh –
Iron
      Ore
807
829
—
76
92
130
—
630
384
3
2005
      Remuneration
8,956
5,802
371
314
2,372
1,685
—
7,256
4,499
6
2004
      Remuneration
9,255
6,688
255
775
3,183
1,994
—
3,337
6,582
69
Rio
        Tinto 2005
Form
    20-F
98
Back to Contents
Table 1 – Total remuneration of directors and product group chief executives (continued)
Post employment
Other benefits
Post employment costs
10
Termination
Remuneration
Total
benefits
mix
11
remuneration
Pension
      – Defined
Benefits
Contrib-
Medical
Post
Gifts
14
Fixed
At-risk
Options
Currency
Utions
costs
service
as
      %
as
      %
as % total
2005
2004
of
      actual
Stated
      in US$'000
US$'000
US$'000
payment
Chairman
Paul
      Skinner
—
—
—
—
—
100.0
—
—
1,182
1,085
£
Non
      executive directors
Ashton
      Calvert
13
—
—
—
—
—
100.0
—
—
139
—
A$
Vivienne
      Cox
13
—
—
—
—
—
100.0
—
—
120
—
£
Sir
      David Clementi
—
—
—
—
—
100.0
—
—
154
123
£
Leon
      Davis
13,14
—
—
—
—
1
100.0
—
—
100
289
£
Sir
      Rod Eddington
13
—
—
—
—
—
100.0
—
—
48
—
£
Sir
      Richard Giordano
13,14
—
—
—
—
12
100.0
—
—
88
214
£
Richard
      Goodmanson
—
—
—
—
—
100.0
—
—
127
8
£
Andrew
      Gould
—
—
—
—
—
100.0
—
—
142
110
£
Lord
      Kerr
—
—
—
—
—
100.0
—
—
145
128
£
David
      Mayhew
15,16
—
—
—
—
—
100.0
—
—
123
110
£
John
      Morschel
13,14
—
—
—
—
1
100.0
—
—
46
163
A$
Sir
      Richard Sykes
16
—
—
—
—
—
100.0
—
—
189
132
£
Executive
      directors
17,19
Robert
      Adams –
Planning
      &
Development
2
31
—
—
—
—
16.0
84.0
27.5
2,114
3,686
£
Leigh
      Clifford –
Chief
      Executive
18
317
58
—
—
—
36.2
63.8
19.0
6,704
6,511
£
Guy
      Elliott –
Finance
408
—
—
—
—
41.8
58.2
12.3
3,897
3,079
£
Product
      group chief executives
19
Tom
      Albanese –
Copper
      & Exploration
157
13
3
—
—
46.9
53.1
16.5
4,110
4,043
US$
Preston
      Chiaro –
Energy
142
12
6
—
—
57.2
42.8
10.6
3,246
2,595
US$
Oscar
      Groeneveld –
Aluminium
181
18
—
—
—
46.7
53.3
14.5
3,150
3,383
A$
Keith
      Johnson –
Diamonds
312
—
—
—
—
48.6
51.4
8.9
2,284
1,712
£
Andrew
      MacKenzie –
Industrial
      Minerals
398
—
—
—
—
56.1
43.9
4.2
2,217
757
£
Chris
      Renwick –
Iron
      Ore (retired)
5
—
—
—
1,115
—
100.0
—
—
1,225
4,506
A$
Sam
      Walsh –
Iron
      Ore
200
—
—
—
—
41.5
58.5
12.2
3,151
3,130
A$
2005
      Remuneration
2,146
101
9
1,115
14
34,701
2004
      Remuneration
2,127
166
8
—
—
35,764
Short
      term employee benefits and costs
19,500
22,150
Long
      term benefits
—
1,325
Share
      based awards
11,816
9,988
Post
      employment costs
2,256
2,301
Termination
      benefits
1,129
—
34,701
35,764
Rio
        Tinto 2005
Form
    20-F
99
Back to Contents
Notes
1.
The
      total remuneration is reported in US dollars. The amounts with the exception
      of the annual cash bonus, can be converted into sterling at the rate of
      1US$ = £0.5491 or alternatively into Australian dollars at the
      rate of 1US$ = A$1.3111, each being the average exchange rate for
      2005. The annual cash bonus is payable under the STIP and this may be converted
      at the 2005 year end exchange rate of 1US$ = £0.5787 to ascertain
      the sterling equivalent or alternatively, 1US$ = A$ 1.3652 to calculate
      the Australian dollar value.
2.
Other
      cash based benefits include car, fuel, overseas meeting allowances and cash
      in lieu of holiday paid to the estate of Robert Adams who died on 27 January
      2005. The amounts shown as paid to non executive directors relate entirely
      to overseas meeting allowances. Non monetary benefits include heathcare,
      401K contributions in the US, the provision of a car, annual leave accruals
      and professional advice.
3.
Secondment
      costs comprise housing, education, tax equalisation and relocation payments
      made to and on behalf of executive directors and product group chief executives
      living outside their home country.
4.
Employment
      costs comprise social security contributions and accident insurance premiums
      in the UK and US and payroll taxes in Australia paid by the employer as
      a direct additional cost of hire.
5.
A payment
      in respect of long service leave is paid to Australian executive directors
      and product group chief executives on retirement. Christopher Renwick received
      such a payment when he retired on 1 December 2004. No other long term benefit
      type payments have been made in the period.
6.
The
      value of share based awards has been determined in accordance with the recognition
      and measurement requirements of IFRS2 "Share- based Payment". The fair value
      of awards granted under the Rio Tinto Share Option Plan (the SOP), the Share
      Savings Plan (the SSP) have been calculated at their dates of grant using
      an independent lattice based option valuation model provided by external
      consultants, Lane Clark and Peacock LLP. The fair value of awards granted
      under the Mining Companies Comparative Plan (the MCCP) has been based on
      the market price of shares at the measurement date adjusted to reflect the
      number of awards expected to vest based on the current and anticipated relative
      TSR performance. Further details of the valuation methods and assumptions
      used for these awards are included in the Note 48 (Share Based Payments).
      The non executive directors do not participate in the long term incentive
      share schemes.
7.
The
      number of conditional shares awarded to executive directors and product
      group chief executives under the MCCP for the twelve month period ending
      31 December 2005 are shown under Table 4 of this report. The MCCP is stated
      under primary emoluments to reflect the treatment of the plan as a cash
      settled share based payment.
8.
The
        award of options to executive directors under the SOP and SSP during the
        twelve month period up to 31 December 2005 are shown in Table 5 of this
        report.
9.
Other
      share based awards refers to the Rio Tinto All Employee Share Ownership
      Plan where UK executive directors and product group chief executives are
      beneficiaries to free shares up to a maximum value of £3,000 ( US$
      5,463 ) and may also contribute to purchase additional shares where the
      Company will also match their personal contributions up to a maximum of
      £1,500 (US$ 2,732 ) per annum. Under these plans Robert Adams received
      £338 (US$616), Keith Johnson received £3,500 (US$6,374),
      Andrew Mackenzie received £3,750 (US$6,829) and Guy Elliott received
      £4,500 (US$8,195). American group product chief executives receive
      a Company matching of personal contribution for shares under the US 401K
      arrangements up to a maximum of US$12,600. The Company matched personal
      contributions to the following values: Tom Albanese (US$12,600) and
      Preston Chiaro (US$12,083).
10.
The
      costs shown for defined benefit pension plans and post-retirement medical
      benefits are the service costs attributable to the individual, calculated
      in accordance with IAS19. The cost for defined contribution plans is the
      amount contributed by the year by the company
11.
Remuneration
      mix shows the proportions of total remuneration comprising fixed and variable
      pay components and the percentage of total remuneration comprising share
      options only. Fixed pay is represented by base salary, non monetary and
      other cash benefits, secondment and employment costs, post employment, termination
      benefits and voluntary share based awards as detailed in Note 9. Variable
      pay is made up of the cash bonus and the values of the share based awards
      related to company performance.
12.
The
      comparative total figures in respect of 2004 have been restated following
      the move to International Financial Reporting Standards. In summary the
      major changes are the inclusion of employment costs and the recalculation
      of post employment costs and the value of share based awards on an annual
      basis.
13.
Several
      of the non executive directors held their positions for less than the whole
      financial year. The following directors were appointed during the period,
      Ashton Calvert on 1 February 2005, Vivienne Cox on 1 February 2005 and Sir
      Rod Eddington on 1 September 2005. Sir Richard Sykes became the senior non
      executive director following Sir Richard Giordano's retirement in April
      2005. The following directors retired on 29 April 2005, Leon Davis, Sir
      Richard Giordano and John Morschel.
14.
Messrs
      Davis, Giordano and Morschel received retirement gifts valued at US$891,
      US$11,987 and US$891 respectively. These gifts are shown in the
      "termination benefits" column.
15.
David
      Mayhew resigned from the
Audit
      committee
on 31 July 2005. The fees disclosed above include £4,167
      (US$7,589) paid to JP Morgan Cazenove for Mr Mayhew's continued attendance
      at
Audit
      committee
meetings after this date
      in the capacity of an advisor. In 2004 a total of £6,645 (US$12,164)
      relating to travelling expenses to attend the Australian AGM were incorrectly
      disclosed as part of his total base salary figure. The correct base salary
      figure should have been stated as US$110,000.
16.
David
      Mayhew's fees were paid to JP Morgan Cazenove and Sir Richard Sykes'
      fees were paid to Imperial College.
17.
Executive
      directors have agreed to waive any fees receivable from subsidiary and associated
      companies. No such emoluments were paid by subsidiary or associated companies
      in respect of executive directors during the period (2004: two directors
      waived US$53,022).
18.
In
      the course of the year Leigh Clifford received US$110,025 in respect
      of his non Rio Tinto related directorship.
19.
With
      the exception of Robert Adams who died on 27 January 2005, all executive
      directors and product group chief executives held their positions for the
      entire reporting period.
Rio
        Tinto 2005
Form
        20-F
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Back to Contents
Table
            2 – Directors' pension entitlements
(as
      at 31 December 2005)
Accrued benefits
Transfer
      values
3
Age
Years
      of
At
      31
At
      31
Change
      in
Change
      in
At
      31
At
      31
Change,
Transfer
service
December
December
accrued
accrued
December
December
net
      of
value
      of
completed
2004
2005
benefits
benefit
2004
2005
personal
change
      in
during
      the
net
      of
contribs.
accrued
year
      ended
inflation
benefit
31
net
      of
December
inflation
2005
UK
£'000
      pa
£'000
      pa
£'000
      pa
£'000
      pa
£'000
£'000
£'000
£'000
directors
pension
pension
pension
pension
Robert Adams
4
59
34
389
391
2
2
7,465
7,573
108
41
Guy
        Elliott
50
25
256
291
35
29
2,915
3,781
866
385
Australian
A$'000
A$'000
A$'000
A$'000
A$'000
A$'000
A$'000
A$'000
director
Lump
      sum
Lump
      sum
Lump
      sum
Lump
      sum
Leigh Clifford
1,2
58
35
12,026
13,147
1,121
(534
)
12,026
13,147
1,121
(534
)
Notes
1.
A$76,538
      was credited to the account belonging to Leigh Clifford in the Rio Tinto
      Staff Superannuation Fund in relation to the
superannuable
      element of his 2005 performance bonus.
2
      .
The
         change in accrued benefit net of inflation for Leigh Clifford is the
        change
      net of the Rio Tinto Staff Superannuation Fund's investment
return
      and allowing for contributions tax.
3
      .
Transfer
      values are calculated in a manner consistent with "Retirement Benefit
      Schemes — Transfer Values (GN 11)" published by the
Institute
      of Actuaries and the Faculty of Actuaries and dated 4 August 2003.
4
      .
Robert
      Adams died on 27 January 2005. The 2005 figures show his accrued benefits
      to 27 January 2005, and transfer value calculated at that
date.
Rio
        Tinto 2005
Form
        20-F
101
Back to Contents
Table
      3 – Directors' and
product
      group chief executive
s' beneficial
      interests in shares
9
Rio
      Tinto plc
Rio
      Tinto Limited
Movement
1
        Jan
31
      Dec
31
      May
1
      Jan
31
      Dec
31
      May
Exercise
Compen-
Other
6
2005
2
2005
3
2006
2005
2
2005
3
2006
of
sation
5
options
4
Directors
Robert Adams
1
72,243
72,243
n/a
—
—
—
—
—
—
Ashton Calvert
1
—
—
—
—
—
—
—
—
—
Sir
      David Clementi
—
—
—
—
—
—
—
—
—
Leigh
      Clifford
2,100
2,100
2,100
90,296
91,255
91,255
959
—
—
Vivienne Cox
1
—
381
381
—
—
—
—
—
381
Leon Davis
1
6,100
6,100
n/a
187,293
187,293
n/a
—
—
—
Sir Rod Eddington
1
—
—
—
—
—
—
—
—
—
Guy Elliott
8
42,888
47,827
47,969
—
—
—
4,007
1,006
—
Sir Richard Giordano
1
1,065
1,065
n/a
—
—
—
—
—
—
Richard
      Goodmanson
—
—
—
—
—
—
—
—
—
Andrew
      Gould
1,000
1,000
1,000
—
—
—
—
—
—
Lord
      Kerr
2,300
2,300
2,300
—
—
—
—
—
—
David
      Mayhew
2,500
2,500
2,500
—
—
—
—
—
—
John Morschel
1
—
—
—
2,000
2,000
n/a
—
—
—
Paul
      Skinner
5,277
5,409
5,409
—
—
—
—
—
132
Sir
      Richard Sykes
2,422
2,482
2,482
—
—
—
—
—
60
Product
      group chief
executives
Tom Albanese
1,8
22,023
23,261
26,816
—
—
—
530
—
1,238
Preston Chiaro
8
4,858
60,762
60,762
—
—
—
55,272
632
—
Oscar Groeneveld
7
19,010
3,000
3,000
—
—
(16,010
)
62,125
79,502
123,302
—
16,771
606
Keith Johnson
8
1,501
2,236
17,472
—
—
—
1,078
755
—
Andrew Mackenzie
8
38,000
39,197
40,394
—
—
—
—
268
949
Sam
      Walsh
—
—
—
4,645
6,570
42,038
30,000
5,980
335
Notes
1.
Robert
         Adams died on 27 January 2005. Ashton Calvert and Vivienne Cox were
        appointed
      non executive directors on 1 February 2005. Leon Davis, Sir Richard Giordano
         and John Morschel retired on 29 April 2005. Sir Rod Eddington was appointed

      a non executive director on 1 September 2005. Tom Albanese was appointed
         as an executive director on 7 March 2006. He will continue as chief
        executive
      of the Copper group and head of Exploration until 1 July 2006 when he will
         be appointed director, Group Resources.
2.
Or
      date of appointment if later.
3.
Or
      date of retirement or resignation if earlier.
4.
Shares
      obtained through the exercise of options under the Rio Tinto Share Savings
      Plan or the Rio Tinto Share Option Plan. The number of shares retained may
      differ from the number of options exercised.
5.
Shares
      obtained through the Rio Tinto Share Ownership Plan and/or vesting of awards
      under the Mining Companies Comparative Plan.
6.
Shares
      movement due to sale or purchase of shares, or shares received under the
      Dividend Reinvestment Plan.
7.
Oscar
      Groeneveld resigned as a director on 1 October 2004, when his holding in
      Rio Tinto plc shares was 19,010 and his holding in Rio Tinto Limited was
      32,012 shares.
8.
These
      executives also have an interest in a trust fund containing 835 Rio Tinto
      plc shares at 31 December 2005 (1 January 2005: 8,219 Rio Tinto plc shares)
      as potential beneficiaries of The Rio Tinto Share Ownership Trust. At 31
      May 2006 this trust fund contained 857 Rio Tinto plc shares.
9.
Shares
      in Rio Tinto plc are ordinary shares of 10 pence each. Shares in Rio Tinto
      Limited are ordinary shares.
Rio
        Tinto 2005
Form
    20-F
102
Back to Contents
Table 4 – Awards to executive directors and product group chief executives under long term incentive plans
Mining
      Companies Comparative Plan
Plan
      terms and conditions
Conditional
Market
1
      Jan
Awarded
3
Lapsed
3
Vested
3
31
      Dec
Perfor-
Date
Market
Monetary
award
price
      at
2005
3
2005
10
mance
award
price
      at
5
value
      of
granted
award
period
vests
vesting
vested
concludes
award
US$'000
Executive
      directors
Robert
13
      Mar
31
      Dec
28
      Jan
Adams
2
2002
1424
p
25,064
—
12,532
12,532
—
2005
2005
2956
p
640
7
      Mar
31
      Dec
28
      Jan
2003
1198
p
26,837
—
13,418
13,419
—
2006
2005
2956
p
686
22
      Apr
31
      Dec
28
      Jan
2004
1276
p
54,372
—
35,341
19,031
—
2007
2005
2956
p
972
106,273
—
61,291
44,982
—
2,298
Leigh
13
      Mar
31
      Dec
Clifford
2002
A$39.60
34,435
—
34,435
—
—
2005
7
      Mar
31
      Dec
2003
A$30.69
36,341
—
—
—
36,341
2006
22
      Apr
31
      Dec
2004
A$33.17
119,581
—
—
—
119,581
2007
9
      Mar
31
      Dec
2005
A$47.39
—
113,324
—
—
113,324
2008
190,357
113,324
34,435
—
269,246
—
Guy
13
      Mar
31
      Dec
Elliott
2002
1424
p
16,935
—
16,935
—
—
2005
7
      Mar
31
      Dec
2003
1198
p
22,923
—
—
—
22,923
2006
22
      Apr
31
      Dec
2004
1276
p
51,550
—
—
—
51,550
2007
9
      Mar
31
      Dec
2005
1839
p
—
51,081
—
—
51,081
2008
91,408
51,081
16,935
—
125,554
—
Product
      group chief executives
Tom
13
      Mar
31
      Dec
17
      Feb
Albanese
2002
1424
p
20,169
—
15,127
5,042
—
2005
2006
2867
p
252
7
      Mar
31
      Dec
2003
1198
p
19,274
—
—
—
19,274
2006
22
      Apr
31
      Dec
2004
1276
p
56,015
—
—
—
56,015
2007
9
      Mar
31
      Dec
2005
1839
p
—
55,951
—
—
55,951
2008
95,458
55,951
15,127
5,042
131,240
252
Preston
13
      Mar
31
      Dec
17
      Feb
Chiaro
2002
1424
p
7,934
—
5,951
1,983
—
2005
2006
2867
p
99
7
      Mar
31
      Dec
2003
1198
p
7,352
—
—
—
7,352
2006
22
      Apr
31
      Dec
2004
1276
p
46,995
—
—
—
46,995
2007
9
      Mar
31
      Dec
2005
1839
p
—
42,351
—
—
42,351
2008
62,281
42,351
5,951
1,983
96,698
99
Oscar
13
      Mar
31
      Dec
Groeneveld
2002
A$39.60
20,322
—
20,322
—
—
2005
7
      Mar
31
      Dec
2003
A$30.69
21,469
—
—
—
21,469
2006
22
      Apr
31
      Dec
2004
A$33.17
43,785
—
—
—
43,785
2007
9
      Mar
31
      Dec
2005
A$47.39
—
45,024
—
—
45,024
2008
85,576
45,024
20,322
—
110,278
—
Rio
        Tinto 2005
Form
        20-F
103
Back to Contents
Table 4 – Awards to executive directors and product group chief executives under long term incentive plans
Mining
      Companies Comparative Plan
Plan
      terms and conditions
Conditional
Market
1
      Jan
Awarded
3
Lapsed
3
Vested
3
31
      Dec
Perfor-
Date
Market
Monetary
award
price
      at
2005
3
2005
10
mance
award
price
      at
5
value of
granted
award
period
vests
vesting
vested
concludes
award
US$'000
Keith
13
      Mar
31
      Dec
17
      Feb
Johnson
2002
1424
p
5,984
—
4,488
1,496
—
2005
2006
2867
p
75
7
      Mar
31
      Dec
2003
1198
p
8,186
—
—
—
8,186
2006
22
      Apr
31
      Dec
2004
1276
p
30,387
—
—
—
30,387
2007
9
      Mar
31
      Dec
2005
1839
p
—
33,556
—
—
33,556
2008
44,557
33,556
4,488
1,496
72,129
75
Andrew
13
      Mar
31
      Dec
Mackenzie
2002
1424
p
—
—
—
—
—
2005
7
      Mar
31
      Dec
2003
1198
p
—
—
—
—
—
2006
22
      Apr
31
      Dec
2004
1276
p
16,270
—
—
—
16,270
2007
9
      Mar
31
      Dec
2005
1839
p
—
37,638
—
—
37,638
2008
16,270
37,638
—
—
53,908
—
Sam
      Walsh
13
      Mar
31
      Dec
17
      Feb
2002
A$39.60
16,627
—
12,471
4,156
—
2005
2006
A$71.65
220
7
      Mar
31
      Dec
2003
A$30.69
16,884
—
—
—
16,884
2006
22
      Apr
31
      Dec
2004
A$33.17
38,023
—
—
—
38,023
2007
9
      Mar
31
      Dec
2005
A$47.39
—
41,176
—
—
41,176
2008
71,534
41,176
12,471
4,156
96,083
220
Mining
      Companies Comparative Plan
Plan
      terms and conditions
Conditional
Market
1
      Jan
Awarded
3
Lapsed
3
Vested
3
31
      May
Perfor-
Date
Market
Monetary
award
price
      at
2006
3
2006
10
mance
award
price
      at
5
value of
granted
award
period
vests
vesting
vested
concludes
award
US$'000
Executive
      directors
Tom
7
      Mar
31
      Dec
Albanese
11
2003
1198
p
19,274
—
—
—
19,274
2006
22
      Apr
31
      Dec
2004
1276
p
56,015
—
—
—
56,015
2007
9
      Mar
31
      Dec
2005
1839
p
55,951
—
—
—
55,951
2008
7
      Mar
31
      Dec
2006
2630
p
—
45,007
—
—
45,007
2009
131,240
45,007
—
—
176,247
—
Leigh
7
      Mar
A$
31
      Dec
Clifford
2003
30.69
36,341
—
—
—
36,341
2006
22
      Apr
A$
31
      Dec
2004
33.17
119,581
—
—
—
119,581
2007
9
      Mar
A$
31
      Dec
2005
47.39
113,324
—
—
—
113,324
2008
7
      Mar
A$
31
      Dec
2006
69.60
—
84,661
—
—
84,661
2009
269,246
84,661
—
—
353,907
—
Rio
        Tinto 2005
Form
        20-F
104
Back to Contents
Table
  4 – Awards to executive directors and product group chief executives under
  long term incentive plans
Mining
      Companies Comparative Plan
Plan
      terms and conditions
Perfor-
Monetary
5
value
    of
Conditional
Market
mance
Date
Market
vested
award
price
      at
1
      Jan
31
      May
period
award
price
      at
award
granted
award
2006
3
Awarded
3
Lapsed
3
Vested
3
2006
10
concludes
vests
vesting
US$'000
Guy
7
Mar
31
Dec
Elliott
2003
1198
p
22,923
—
—
—
22,923
2006
22
Apr
31
Dec
2004
1276
p
51,550
—
—
—
51,550
2007
9
Mar
31
Dec
2005
1839
p
51,081
—
—
—
51,081
2008
7
Mar
31
Dec
2006
2630
p
—
40,670
—
—
40,670
2009
125,554
40,670
—
—
166,224
—
Product
      group chief executives
Preston
7
Mar
31
Dec
Chiaro
2003
1198
p
7,352
—
—
—
7,352
2006
22
Apr
31
Dec
2004
1276
p
46,995
—
—
—
46,995
2007
9
Mar
31
Dec
2005
1839
p
42,351
—
—
—
42,351
2008
7
Mar
31
Dec
2006
2630
p
—
34,182
—
—
34,182
2009
96,698
34,182
—
—
130,880
—
Oscar
7
Mar
A$
31
Dec
Groeneveld
2003
30.69
21,469
—
—
—
21,469
2006
22
Apr
A$
31
Dec
2004
33.17
43,785
—
—
—
43,785
2007
9
Mar
A$
31
Dec
2005
47.39
45,024
—
—
—
45,024
2008
7
Mar
A$
31
Dec
2006
69.60
—
36,460
—
—
36,460
2009
110,278
36,460
—
—
146,738
—
Keith
7
Mar
31
Dec
Johnson
2003
1198
p
8,186
—
—
—
8,186
2006
22
Apr
31
Dec
2004
1276
p
30,387
—
—
—
30,387
2007
9
Mar
31
Dec
2005
1839
p
33,556
—
—
—
33,556
2008
7
Mar
31
Dec
2006
2630
p
—
26,508
—
—
26,508
2009
72,129
26,508
—
—
98,637
—
Andrew
7
Mar
31
Dec
Mackenzie
2003
1198
p
—
—
—
—
—
2006
22
Apr
31
Dec
2004
1276
p
16,270
—
—
—
16,270
2007
9
Mar
31
Dec
2005
1839
p
37,638
—
—
—
37,638
2008
7
Mar
31
Dec
2006
2630
p
—
29,413
—
—
29,413
2009
53,908
29,413
—
—
83,321
—
Sam
      Walsh
7
Mar
A$
31
Dec
2003
30.69
16,884
—
—
—
16,884
2006
22
Apr
A$
31
Dec
2004
33.17
38,023
—
—
—
38,023
2007
9
Mar
A$
31
Dec
2005
47.39
41,176
—
—
—
41,176
2008
7
Mar
A$
31
Dec
2006
69.60
—
33,655
—
—
33,655
2009
96,083
33,655
—
—
129,738
—
Rio
      Tinto 2005
Form
      20-F
105
Back to Contents
Notes
1.
The
      Group's 10th place ranking against the comparator group for the MCCP
      2002 award will not generate any vesting of the conditional
award
      to any participant who was an executive director at the time of the initial
      grant. However, product group chief executives, under this
particular
      cycle, will qualify for a 25 per cent vesting based on the scales applied
      to conditional awards made prior to 2004.
2.
Robert
      Adams died on 27 January 2005. Mr Adams' MCCP shares vested on 28 January
      2005 based on the assumption that Rio Tinto
achieved
      median ranking on each of the outstanding performance cycles. This led to
      a 50 per cent vesting in respect of the 2002 and 2003
awards
      and a 35 per cent vesting in respect of the 2004 award. His personal representatives
      had one year to decide whether to take shares or
cash.
      A decision to take cash in lieu of shares was made on 25 January 2006 and
      the middle market price of Rio Tinto plc shares that day of
2956p
      was used to calculate the cash payment.
3.
Awards
      denominated in pence were in Rio Tinto plc ordinary shares of 10p each.
      Awards denominated in A$ were in Rio Tinto Limited
ordinary
      shares.
4.
The
      fair value of conditional awards granted in 2005 was 703p for Rio Tinto
      plc and A$18.15 for Rio Tinto Limited shares.
5.
The
      values of the vested awards have been based on a share price of 2867p for
      Rio Tinto plc ordinary shares of 10p each and A$71.65 for
Rio
      Tinto Limited ordinary shares, being the closing prices on 17 February 2006.
      The amount in US dollars has been converted from sterling
at
      the rate of 1.7406 and Australian dollars at the rate of 0.7382, being the
      exchange rates at close of business on that day.
6.
The
      shares awarded under the MCCP 2001 last year vested on 21 February 2005
      but, as the performance cycle ended 31 December 2004,
they
      were dealt with in the 2004
Annual
      report and financial statements
as if they had vested on
      that date. The values of the awards in the
2004
Annual
      Report and financial statements
were based on a share price of 1687p being the closing
      share price on 14 February 2005 for Rio
Tinto
      plc shares, the latest practicable date prior to the publication of the
      2004
Annual
      report and financial statements
.
      The actual share price
on
      21 February 2005, when the award vested to Guy Elliott was 1759p while on
      25 January 2006 when the cash payment was made to the
estate
      of Robert Adams it was 2956p with the result that the values of the awards
      had been understated in respect of Guy Elliott by US$1,286
and
      Robert Adams by US$835,521.
7.
Leigh
      Clifford was given a conditional award over 113,324 Rio Tinto Limited shares
      during the year. These awards were approved by the
shareholders
      under ASX Listing Rule 10.14 at the 2004 annual general meeting.
8.
Conditional
      awards are awarded at no cost to the recipient and no amount remains unpaid
      on any shares granted. No awards would be vested
and
      unexercisable at the reporting date.
9.
A full
      explanation of the MCCP can be found on pages 89 to 90.
10.
Or
      as the date of resignation or retirement if earlier.
11.
Tom
      Albanese was appointed as an executive director on 7 March 2006. He will
      continue as chief executive of the Copper group and head of
Exploration
      until 1 July 2006 when he will be appointed director, Group Resources.
Rio
      Tinto 2005
Form
      20-F
106
Back to Contents
Table
  5 – Directors' and product group chief executives' options to
  acquire Rio Tinto plc and Rio Tinto Limited shares
Vested
      and
Value
              of
options
Market
Vested
exercisable
exercised
price on
Date from
Option
1 Jan
during
on 31
      Dec
31 Dec
Option
during
date of
which first
Expiry
type
1
2005
Granted
2005
Exercised
2005
7
2005
5
price
3
2005
8
exercise
exercisable
date
Executive
      directors
Robert
RTP
1
      Jan
Adams
6
SSP
595
—
595
595
—
—
976
p
£3,617
1584
p
2005
—
28
      Jan
27
      Jan
431
—
431
—
—
431
876
p
—
—
2005
2006
RTP
28
      Jan
27
      Jan
SOP
21,080
—
21,080
—
—
21,080
965.4
p
—
—
2005
2006
28
      Jan
27
      Jan
100,268
—
100,268
—
—
100,268
1265.6
p
—
—
2005
2006
28
      Jan
91,320
—
91,320
91,320
—
—
1458.6
p
£936,395
2484
p
2005
—
28
      Jan
114,014
—
114,014
114,014
—
—
1263
p
£1,392,111
2484
p
2005
—
28
      Jan
77,700
—
59,819
59,819
—
—
1329
p
£690,909
2484
p
2005
—
Leigh
RTL
A$
A$
A$
1
      Jan
Clifford
SSP
959
—
959
959
—
—
27.86
10,923
39.25
2005
—
A$
1
      Jan
30
      Jun
1,486
—
—
—
—
1,486
29.04
—
—
2010
2010
RTL
A$
28
      May
28
      May
SOP
52,683
—
—
—
52,683
52,683
23.4382
—
—
2002
2009
A$
7
      Mar
7
      Mar
59,318
—
—
—
59,318
59,318
24.069
—
—
2003
2010
A$
7
      Mar
7
      Mar
29,660
—
29,660
—
29,660
29,660
24.069
—
—
2005
2010
A$
6
      Mar
6
      Mar
241,430
—
241,430
—
241,430
241,430
33.0106
—
—
2005
2011
A$
13
      Mar
13
      Mar
208,882
—
208,882
—
208,882
208,882
39.8708
—
—
2005
2012
A$
7
      Mar
7
      Mar
254,132
—
—
—
—
254,132
33.336
—
—
2006
2013
A$
22
      Apr
22
      Apr
179,370
—
—
—
—
179,370
34.406
—
—
2007
2014
A$
9
      Mar
9
      Mar
—
169,987
—
—
—
169,987
47.042
—
—
2008
2015
Leon
RTL
A$
28
      May
28
      May
Davis
SOP
93,978
—
—
—
93,978
93,978
23.4382
—
—
2002
2009
Guy
RTP
1
      Jan
30
      Jun
Elliott
SSP
1,431
—
—
—
—
1,431
1107
p
—
—
2009
2009
RTP
7
      Mar
SOP
3,807
—
3,807
3,807
—
—
965.4
p
£39,121
1993
p
2005
—
6
      Mar
13,432
—
13,432
13,432
—
—
1265.6
p
£97,704
1993
p
2005
—
13
      Mar
13
      Mar
61,703
—
61,703
—
61,703
61,703
1458.6
p
—
—
2005
2012
7
      Mar
7
      Mar
97,387
—
—
—
—
97,387
1263
p
—
—
2006
2013
22
      Apr
22
      Apr
73,700
—
—
—
—
73,700
1329
p
—
—
2007
2014
9
      Mar
9
      Mar
—
72,972
—
—
—
72,972
1826.2
p
—
—
2008
2015
Rio
      Tinto 2005
Form
      20-F
107
Back to Contents
Table
  5 – Directors' and product group chief executives' options to
  acquire Rio Tinto plc and Rio Tinto Limited shares
Vested
      and
Value
      of
exercisable
options
Market
Vested
on
exercised
price
      on
Date
      from
Option
1
Jan
during
31
Dec
31
Dec
Option
during
date
      of
which first
Expiry
type
1
2005
Granted
2005
Exercised
2005
7
2005
5
price
3
2005
8
exercise
exercisable
date
Product
    group chief executives
Tom
RTP
1
      Jan
7
      Jan
Albanese
SSP
530
—
—
—
—
530
1150
p
—
—
2006
2006
RTP
27
      May
27
      May
SOP
11,142
—
—
—
11,142
11,142
820
p
—
—
2001
2008
12
      Mar
12
      Mar
12,382
—
—
—
12,382
12,382
808.8
p
—
—
2002
2009
7
      Mar
7
      Mar
7,530
—
—
—
7,530
7,530
965.4
p
—
—
2003
2010
7
      Mar
7
      Mar
3,766
—
3,766
—
3,766
3,766
965.4
p
—
—
2005
2010
6
      Mar
6
      Mar
102,718
—
102,718
—
102,718
102,718
1265.6
p
—
—
2005
2011
13
      Mar
13
      Mar
125,336
—
125,336
—
125,336
125,336
1458.6
p
—
—
2005
2012
7
      Mar
7
      Mar
139,165
—
—
—
—
139,165
1263
p
—
—
2006
2013
22
      Apr
22
      Apr
84,020
—
—
—
—
84,020
1329
p
—
—
2007
2014
9
      Mar
9
      Mar
—
83,926
—
—
—
83,926
1826.2
p
—
2008
2015
Preston
RTP
1
      Jan
5
      Jan
Chiaro
SSP
490
—
—
—
—
490
1277
p
—
—
2007
2007
RTP
27
      May
SOP
16,021
—
—
16,021
—
—
820
p
£244,160
2344
p
2001
—
12
      Mar
42,300
—
—
42,300
—
—
808.8
p
£649,390
2344
p
2002
—
7
      Mar
28,853
—
—
28,853
—
—
965.4
p
£397,767
2344
p
2003
—
7
      Mar
14,427
—
14,427
14,427
—
—
965.4
p
£198,891
2344
p
2005
—
6
      Mar
38,024
—
38,024
38,024
—
—
1265.6
p
£410,051
2344
p
2005
—
13
      Mar
34,515
—
34,515
34,515
—
—
1458.6
p
£305,596
2344
p
2005
—
7
      Mar
7
      Mar
37,160
—
—
—
—
37,160
1263
p
—
—
2006
2013
22
      Apr
22
      Apr
70,490
—
—
—
—
70,490
1329
p
—
—
2007
2014
9
      Mar
9
      Mar
—
63,527
—
—
—
63,527
1826.2
p
—
—
2008
2015
Oscar
RTL
A$
1
      Jan
30
      Jun
Groeneveld
SSP
1,431
—
—
—
—
1,431
27.48
—
—
2009
2009
RTL
A$
A$
A$
7
      Mar
SOP
16,771
—
16,771
16,771
—
—
24.069
58,704
51.42
2005
—
A$
6
      Mar
6
      Mar
80,920
—
80,920
—
80,920
80,920
33.0106
—
—
2005
2011
A$
A$
A$
13
      Mar
73,965
—
73,965
73,965
—
—
39.8708
854,237
51.42
2005
—
A$
7
      Mar
7
      Mar
90,080
—
—
—
—
90,080
33.336
—
—
2006
2013
A$
22
      Apr
22
      Apr
62,600
—
—
—
—
62,600
34.406
—
—
2007
2014
A$
9
      Mar
9
      Mar
—
64,321
—
—
—
64,321
47.042
—
—
2008
2015
Rio
      Tinto 2005
Form
      20-F
108
Back to Contents
Table
  5 – Directors' and product group chief executives' options to
  acquire Rio Tinto plc and Rio Tinto Limited shares
Vested
      and
Value
      of
exercisable
options
Market
Vested
on
exercised
price
      on
Date
      from
Option
1
      Jan
during
31
Dec
31
Dec
Option
during
date
      of
which
      first
Expiry
type
1
2005
Granted
2005
Exercised
2005
7
2005
5
price
3
2005
8
exercise
exercisable
date
Keith
RTP
1
      Jan
30
      Jun
Johnson
SSP
1,078
—
—
—
—
1,078
876
p
—
—
2006
2006
RTP
7
      Mar
7
      Mar
SOP
3,855
—
3,855
—
3,855
3,855
965.4
p
—
—
2005
2010
6
      Mar
6
      Mar
11,667
—
11,667
—
11,667
11,667
1265.6
p
—
—
2005
2011
13
    Mar
13
      Mar
10,595
—
10,595
—
10,595
10,595
1458.6
p
—
—
2005
2012
7
      Mar
7
      Mar
16,231
—
—
—
—
16,231
1263
p
—
—
2006
2013
22
      Apr
22
      Apr
43,500
—
—
—
—
43,500
1329
p
—
—
2007
2014
9
      Mar
9
      Mar
—
47,937
—
—
—
47,937
1826.2
p
—
—
2008
2015
Andrew
RTP
1
      Jan
30
      Jun
Mackenzie
10
SSP
—
1,021
—
—
—
1,021
1576
p
—
—
2011
2011
RTP
9
      Mar
9
      Mar
SOP
—
53,769
—
—
—
53,769
1826.2
p
—
—
2008
2015
Sam
RTL
A$
1
      Jan
30
      Jun
Walsh
SSP
1,078
—
—
—
—
1,078
25.57
—
—
2006
2006
A$
1
      Jan
30
      Jun
—
601
—
—
—
601
40.92
—
—
2009
2009
RTL
A$
6
      Mar
6
      Mar
SOP
49,983
—
49,983
—
49,983
49,983
33.0106
—
—
2005
2011
A$
13
    Mar
13
      Mar
60,194
—
60,194
—
60,194
60,194
39.8708
—
—
2005
2012
A$
7
      Mar
7
      Mar
75,863
—
—
—
—
75,863
33.336
—
—
2006
2013
A$
22
      Apr
22
      Apr
54,400
—
—
—
—
54,400
34.406
—
—
2007
2014
A$
9
      Mar
9
      Mar
—
58,823
—
—
—
58,823
47.042
—
—
2008
2015
Rio
        Tinto 2005
Form
        20-F
109
Back to Contents
Table
  5 – Directors' and product group chief executives' options to
  acquire Rio Tinto plc and Rio Tinto Limited shares
Vested
    and
Value of
exercisable
options
Market
Vested
on
exercised
price
	      on
Date
	      from
Option
1 Jan
during
31 May
31 May
Option
during
date
	      of
which
	      first
Expiry
type
1
2006
Granted
2006
Exercised
2006
7
2006
5
price
3
2006
8
exercise
exercisable
date
Executive directors
Tom
RTP
1 Jan
7 Jan
Albanese
11
SSP
530
—
—
530
—
—
1150
p
£7,987
2657
p
2006
2006
RTP
27 May
27 May
SOP
11,142
—
—
—
11,142
11,142
820
p
—
—
2001
2008
12 Mar
12 Mar
12,382
—
—
—
12,382
12,382
808.8
p
—
—
2002
2009
7 Mar
7 Mar
7,530
—
—
—
7,530
7,530
965.4
p
—
—
2003
2010
7 Mar
7 Mar
3,766
—
—
—
3,766
3,766
965.4
p
—
—
2005
2010
6 Mar
6 Mar
102,718
—
—
—
102,718
102,718
1265.6
p
—
—
2005
2011
13 Mar
13 Mar
125,336
—
—
—
125,336
125,336
1458.6
p
—
—
2005
2012
7 Mar
7 Mar
139,165
—
139,165
—
139,165
139,165
1263
p
—
—
2006
2013
22 Apr
22 Apr
84,020
—
—
—
—
84,020
1329
p
—
—
2007
2014
9 Mar
9 Mar
83,926
—
—
—
—
83,926
1826.2
p
—
—
2008
2015
7 Mar
7 Mar
—
67,511
—
—
—
67,511
2711.2
p
—
—
2009
2016
Leigh
RTL
A$
1 Jan
30 Jun
Clifford
SSP
1,486
—
—
—
—
1,486
29.04
—
—
2010
2010
RTL
A$
28 May
28 May
SOP
52,683
—
—
—
52,683
52,683
23.4382
—
—
2002
2009
A$
7 Mar
7 Mar
59,318
—
—
—
59,318
59,318
24.069
—
—
2003
2010
A$
7 Mar
7 Mar
29,660
—
—
—
29,660
29,660
24.069
—
—
2005
2010
A$
6 Mar
6 Mar
241,430
—
—
—
241,430
241,430
33.0106
—
—
2005
2011
A$
13 Mar
13 Mar
208,882
—
—
—
208,882
208,882
39.8708
—
—
2005
2012
A$
7 Mar
7 Mar
254,132
—
254,132
—
254,132
254,132
33.336
—
—
2006
2013
A$
22 Apr
22 Apr
179,370
—
—
—
—
179,370
34.406
—
—
2007
2014
A$
9 Mar
9 Mar
169,987
—
—
—
—
169,987
47.042
—
—
2008
2015
A$
7 Mar
7 Mar
—
126,992
—
—
—
126,992
71.06
—
—
2009
2016
Guy
RTP
1 Jan
30 Jun
Elliott
SSP
1,431
—
—
—
—
1,431
1107
p
—
—
2009
2009
RTP
13 Mar
13 Mar
SOP
61,703
—
—
—
61,703
61,703
1458.6
p
—
—
2005
2012
7 Mar
7 Mar
97,387
—
97,387
—
97,387
97,387
1263
p
—
—
2006
2013
22 Apr
22 Apr
73,700
—
—
—
—
73,700
1329
p
—
—
2007
2014
9 Mar
9 Mar
72,972
—
—
—
—
72,972
1826.2
p
—
—
2008
2015
7 Mar
7 Mar
—
58,100
—
—
—
58,100
2711.2
p
—
—
2009
2016
Rio
        Tinto 2005
Form
        20-F
110
Back to Contents
Table 5 – Directors' and product group chief executives' options to acquire Rio Tinto plc and Rio Tinto Limited shares
Vested
and
Value
of
options
Market
Vested
exercisable
exercised
price
	      on
Date
	      from
Option
1
	        Jan
during
on 31
    May
31 May
Option
during
date
	      of
which
	      first
Expiry
type
1
2006
Granted
2006
Exercised
2006
7
2006
5
price
3
2006
8
exercise
exercisable
date
Product group chief executives
Preston
RTP
1 Jan
5 Jan
Chiaro
SSP
490
—
—
—
—
490
1277
p
—
—
2007
2007
RTP
7 Mar
7 Mar
SOP
37,160
—
37,160
—
37,160
37,160
1263
p
—
—
2006
2013
22 Apr
22 Apr
70,490
—
—
—
—
70,490
1329
p
—
—
2007
2014
9 Mar
9 Mar
63,527
—
—
—
—
63,527
1826.2
p
—
—
2008
2015
7 Mar
7 Mar
—
51,274
—
—
—
51,274
2711.2
p
—
—
2009
2016
Oscar
RTL
A$
1 Jan
30 Jun
Groeneveld
SSP
1,431
—
—
—
—
1,431
27.48
—
—
2009
2009
RTP
A$
A$
A$
6 Mar
6 Mar
SOP
80,920
—
—
80,920
—
—
33.0106
3,184,963
72.37
2005
2011
A$
7 Mar
7 Mar
90,080
—
90,080
—
90,080
90,080
33.336
—
—
2006
2013
A$
22 Apr
22 Apr
62,600
—
—
—
—
62,600
34.406
—
—
2007
2014
A$
9 Mar
9 Mar
64,321
—
—
—
—
64,321
47.042
—
—
2008
2015
A$
7 Mar
7 Mar
—
52,086
—
—
—
52,086
71.06
—
—
2009
2016
Keith
RTP
1 Jan
30 Jun
Johnson
SSP
1,078
—
—
1,078
—
—
876
p
£21,528
2873
p
2006
2006
RTP
7 Mar
7 Mar
SOP
3,855
—
—
3,855
—
—
965.4
p
£68,488
2742
p
2005
2010
6 Mar
6 Mar
11,667
—
—
11,667
—
—
1265.6
p
£172,252
2742
p
2005
2011
13 Mar
13 Mar
10,595
—
—
10,595
—
—
1458.6
p
£135,976
2742
p
2005
2012
7 Mar
7 Mar
16,231
—
16,231
16,231
—
—
1263
p
£240,056
2742
p
2006
2013
22 Apr
22 Apr
43,500
—
—
—
—
43,500
1329
p
—
—
2007
2014
9 Mar
9 Mar
47,937
—
—
—
—
47,937
1826.2
p
—
—
2008
2015
7 Mar
7 Mar
—
37,869
—
—
—
37,869
2711.2
p
—
—
2009
2016
Andrew
RTP
1 Jan
30 Jun
Mackenzie
10
SSP
1,021
—
—
—
—
1,021
1576
p
—
—
2011
2011
RTP
9 Mar
9 Mar
SOP
53,769
—
—
—
—
53,769
1826.2
p
—
—
2008
2015
7 Mar
7 Mar
—
42,019
—
—
—
42,019
2711.2
p
—
—
2009
2016
Rio
        Tinto 2005
Form
        20-F
111
Back to Contents
Table 5 – Directors' and product group chief executives' options to acquire Rio Tinto plc and Rio Tinto Limited share
Vested
    and
Value of
exercisable
options
Market
Vested
on
exercised
price
	      on
Date
	      from
Option
1
Jan
during
31 May
31 May
Option
during
date
	      of
which
	      first
Expiry
type
1
2006
Granted
2006
Exercised
2006
7
2006
5
price
3
2006
8
exercise
exercisable
date
Sam
RTL
A$
A$
A$
1 Jan
30 Jun
Walsh
SSP
1,078
—
—
1,078
—
—
25.57
53,512
75.21
2006
2006
A$
1 Jan
30 Jun
601
—
—
—
—
601
40.92
—
—
2009
2009
RTL
A$
A$
A$
6 Mar
6 Mar
SOP
49,983
—
—
49,983
—
49,983
33.0106
2,464,632
82.32
2005
2011
A$
A$
A$
13 Mar
13 Mar
60,194
—
—
60,194
—
60,194
39.8708
2,555,187
82.32
2005
2012
A$
A$
A$
7 Mar
7 Mar
75,863
—
75,863
75,863
—
75,863
33.336
3,716,073
82.32
2006
2013
A$
22 Apr
22 Apr
54,400
—
—
—
—
54,400
34.406
—
—
2007
2014
A$
9 Mar
9 Mar
58,823
—
—
—
58,823
47.042
—
—
2008
2015
A$
7 Mar
7 Mar
—
48,079
—
—
—
48,079
71.06
—
—
2009
2016
Notes
1.
The Rio Tinto
plc Share Option Plan ("RTPSOP"), Rio Tinto Limited Share Option Plan
("RTLSOP"), Rio Tinto plc Share Savings Plan
("RTPSSP")
and Rio Tinto Limited Share Savings Plan ("RTLSSP") grant options over
ordinary shares. Rio Tinto plc — ordinary shares of
10p each stated in pence sterling; Rio Tinto Limited ordinary shares — stated in A$. Each option is granted over one share.
2.
The closing
price of Rio Tinto plc ordinary shares at 31 December 2005 was 2655p (2004: 1533p)
and the closing price of Rio Tinto Limited
shares at 31
December 2005 was A$69.00 (2004: A$39.12). The highest and lowest prices
during the year were 2657p and 1472p
respectively for Rio Tinto plc and A$69.10 and A$38.82 for Rio Tinto Limited.
3.
The option
price represents the exercise price payable on the options. No amount was paid
or payable by the recipient at the date of grant. No
amounts are unpaid on any shares allocated on the exercise of the options.
4.
No options lapsed during the year.
5.
Or at date of retirement or resignation if earlier.
6.
In accordance
with the Plan rules, Robert Adams' outstanding options became exercisable
with immediate effect following his death. His
award of options under the 2004 grant was reduced by 17,881 to 59,819 options.
7.
Under the plans no options would be vested and unexercisable at the reporting date.
8.
The value of
options exercised is calculated by multiplying the number of options exercised
by the difference between the market price and
the option price on date of exercise.
9.
The fair value
per option, granted during 2005, at date of grant was as follows: RTPSSP three
year contract 866p and five year contract 945p;
RTLSSP three
year contract A$20.96 and five year contract A$23.18; RTPSOP 409p; RTLSOP
A$8.93. On 7 October 2005, Andrew
Mackenzie was
granted a five year option under the RTPSSP and Sam Walsh was granted a three
year option under the RTLSSP. The
RTPSOP and
RTLSOP options were granted on 9 March 2005 .
The fair value
per option, granted during 2006, at date of grant was as follows: RTPSOP 740p
and RTLSOP A$17.09. The RTPSOP and
RTLSOP options were granted on 7 March 2006.
10.
Phantom options
over 40,216 Rio Tinto plc ordinary shares were granted to Andrew Mackenzie at
a price of 1329p per share, exercisable
between 22 April 2007 and 22 April 2014.
11.
Tom Albanese
was appointed as an executive director on 7 March 2006. He will continue as chief
executive of the Copper group and head of
Exploration until 1 July 2006 when he will be appointed director, Group Resources.
Rio
        Tinto 2005
Form
        20-F
112
Back to Contents
CORPORATE GOVERNANCE
The
  directors of Rio Tinto believe that high standards of corporate governance are
  critical to business integrity and performance. The following report describes
  how this philosophy is applied in practice.
As Rio Tinto's three main listings are in London, Melbourne and New York, the directors have referred to the Combined Code, published by the UK
  Financial Reporting Council (the Code), the Australian Stock Exchange (ASX) Best Practice Corporate Governance Guidelines and the New York Stock Exchange (NYSE) Corporate Governance Listing Standards, as well as the Sarbanes-Oxley Act of 2002, when
  formulating this statement.
During 2005, Rio Tinto applied the principles contained in Part 1 of the Code. The detailed provisions of Section 1 of the Code have been complied with
  as described below. Rio Tinto also complied with the ASX Best Practice Corporate Governance Guidelines. A statement on compliance with the New York Stock Exchange's Corporate Governance Listing Standards is set out on page 117.
The board
The Companies have common boards of directors which are collectively responsible for the success of the Group and accountable to shareholders for the performance of the business.
  Throughout the rest of this report, they will be described as the board.
The board currently consists of 14 directors: the chairman, three executive directors and ten non executive directors. The
Nominations committee
continually assesses the balance of executive and non executive directors and the
composition of the board in terms of the skills and diversity required to ensure it remains relevant in the current environment. The skills, experience and expertise of each director together with their terms in office are shown in the biographical
details on pages 81 to 85.
The role and responsibilities of the board
The role of the board is to provide the Group with good governance and strategic direction. The board also reviews the Group's control and accountability framework. The directors
  have agreed to a formal schedule of matters specifically reserved for decision by the board, including strategy, major investments and acquisitions. The full list is available on Rio Tinto's website.
Responsibility for day to day management of the business lies with the executive team, with the board agreeing annual performance targets for management
against the Group's financial plan. The board is ultimately accountable to shareholders for the performance of the business.
To ensure an efficient process, the board meets regularly and in 2005 had eight scheduled and three special meetings. Details of directors'
attendance at board and committee meetings are set out on page 114.
The board has regular scheduled discussions on aspects of the Group's strategy and, in line with best practice, a dedicated annual two day meeting
at which in depth discussions of Group strategy take place.
Directors receive timely, regular and necessary management and other information to enable them to fulfil their duties. The board has agreed a procedure
for the directors to have access to independent professional advice at the Group's expense and to the advice and services of both company secretaries.
In addition to these formal processes, directors are in regular communication with senior executives from the product groups, at both formal and informal
meetings, to ensure regular exchange of knowledge and experience between management and non executive directors. To continue building on the formal induction programmes, which all new non executive directors undertake, they are encouraged to take
every opportunity to visit the Group's operating locations.
The chairman also holds regular meetings with non executive directors without the executive directors present.
Rio
        Tinto 2005
Form
        20-F
113
Back to Contents
Directors' attendance at board and committee meetings during 2005
Committee on
social
      and
Audit
Remuneration
environmental
Nominations
Board
committee
committee
accountability
committee
A
B
A
B
A
B
A
B
A
B
Robert
      Adams
1
—
—
Ashton
      Calvert
2, 6
11
9
3
2
2
2
Sir
      David Clementi
11
8
8
7
4
4
Leigh
      Clifford
11
11
Vivienne
      Cox
2, 5
11
10
6
5
Leon
      Davis
3
4
4
2
2
Sir
      Rod Eddington
4, 7
4
4
1
1
1
1
Guy
      Elliott
11
11
Sir
      Richard Giordano
3
4
3
3
3
2
2
Richard
      Goodmanson
11
9
4
4
4
3
Andrew
      Gould
11
7
8
6
4
4
Lord
      Kerr
11
10
8
8
4
4
David
      Mayhew
9
11
11
5
5
2
2
John
      Morschel
3
4
3
2
2
2
2
Paul
      Skinner
8
11
11
3
3
2
2
Sir
      Richard Sykes
11
10
4
4
2
1
A = Maximum number of meetings the director could have attended
B = Number of meetings attended
Notes
1.
Robert Adams died on 27 January 2005.
2.
Vivienne Cox and Ashton Calvert were appointed on 1 February 2005.
3.
Leon Davis, Sir Richard Giordano and John Morschel retired on 29 April 2005.
4.
Sir Rod Eddington was appointed on 1 September 2005.
5.
Vivienne Cox became a committee member on 27 April 2005 (Audit).
6.
Ashton Calvert became a committee member on 1 February 2005 (Nominations and CSEA).
7.
Sir Rod Eddington became a committee member on 1 September 2005 (Nominations and CSEA).
8.
Paul Skinner ceased to be a committee member on 7 June 2005 (CSEA).
9.
David Mayhew ceased to be a committee member on 31 July 2005 (Audit).
Board
performances
In 2005, the board conducted a further formal process to evaluate its effectiveness and that of the board committees and individual directors.
Each director's performance was appraised by the chairman and, in a meeting chaired by the senior non executive director the non executive directors
assessed the chairman's performance, taking into consideration the views of executive colleagues.
The evaluation process takes place annually and aims to cover board dynamics, board capability, board process, board structure, corporate governance,
strategic clarity and alignment and the performance of individual directors. The directors believe that, through this evaluation process, they comply with the requirements of Clause A.6 of the Code, Principle 8 of the ASX Best Practice Corporate
Governance Guidelines and the relevant sections of the NYSE Code.
Independence
The board has adopted a policy on directors' independence. The policy, which contains the materiality thresholds approved by the board, can be viewed on the Rio Tinto
website.
The tests of director independence in the jurisdictions where Rio Tinto is listed are not wholly consistent. The board has, therefore, adopted the
following criteria for independence: Independence of management, the absence of any business relationship which could materially interfere with the director's independence of judgement and ability to provide a strong, valuable contribution to
the board's deliberations or which could interfere with the director's ability to act in the best interest of the Group. Where contracts in the ordinary course of business exist between Rio Tinto and a company in which a director has
declared an interest, these are reviewed for materiality to both Companies. Applying these criteria, the board is satisfied that the majority of the non executive directors, Sir David Clementi, Sir Rod Eddington, Richard Goodmanson, Andrew Gould,
Lord Kerr, Sir Richard Sykes, Ashton Calvert and Vivienne Cox are independent. David Mayhew, who is chairman of one of Rio Tinto plc's stockbrokers, is not independent.
Paul Skinner was, until his appointment as chairman in 2003, an independent, non executive director in compliance with the Code. He satisfies the tests
for independence under the ASX Best Practice Corporate Governance Guidelines and the NYSE Code.
The
directors' biographies are set out on pages 81 to 85.
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Election and re-election
Directors are elected by shareholders at the first annual general meetings after their appointment and, after that, offer themselves for re-election at least once every three years.
Non executive directors are normally expected to serve at least two terms of three years and, except where special circumstances justify it, would not normally serve more than three such terms.
Chairman and chief executive
The roles of the chairman and chief executive are separate and the division of responsibilities has been formally approved by the board.
Board committees
There are four board committees,the
Audit
      committee, Remuneration committee, Nominations committee
and the
Committee on social and environmental accountability.
Each committee plays a vital role in
ensuring that good corporate governance is maintained throughout the Group. Committee terms of reference are reviewed annually by the board and the committees themselves to ensure they continue to be at the forefront of best practice; and are posted
on the Group's website. Minutes of all committee meetings are circulated to the board, with oral reports at the next board meeting. All committee members are non executive directors.
The
Audit
committee's
main responsibilities include
the review of accounting principles, policies and practices adopted in the preparation
of public financial information; review with management of procedures relating
to financial and capital expenditure controls, including internal audit plans
and reports; review with external auditors of the scope and results of their
audit; the nomination of auditors for appointment by shareholders; and the review
of and
recommendation to the board for approval of Rio Tinto's risk management
policy. Its responsibilities also include the review of corporate governance
practices of Group sponsored pension funds. The committee has a number of training
sessions which may cover new legislation and other relevant information. The
external auditors, the finance director, the Group controller and Group internal
auditor attend meetings. A copy of the
Audit committee
charter is reproduced on pages 120 to 121 and can be found on the Rio Tinto website.
The
Audit committee
is chaired by Andrew Gould and its members are Sir David Clementi, Vivienne Cox and Lord Kerr. David Mayhew attends in an advisory capacity.
The
Remuneration committee
is responsible for determining
the policy for executive remuneration and for the remuneration and benefits of
individual executive directors and senior executives. Full disclosure of all
elements
of directors' and relevant senior executives' remuneration can be found in the Remuneration report on pages 87 to 97, together with details of the Group's
remuneration policies. The committee is chaired by Sir Richard Sykes and its
members are Sir David Clementi, Andrew Gould and Richard Goodmanson.
The
Nominations committee
is chaired by the chairman of Rio Tinto, Paul Skinner. The committee is responsible, on behalf of the board, for ensuring that a suitable process is in place to meet the recruitment requirements
of the board. It reviews the mix, structure and experience of the board and the desired profiles of potential candidates for membership. In consultation with external search consultancies it oversees the review and recruitment process to meet
vacancies as they arise. The recruitment process itself includes identification of suitable candidates, followed by a formal assessment of each candidate, leading to a final selection process. Proposals for new members are submitted to the full
board for approval.
The committee also reviews the time required to be committed to Group business by non executive directors and assesses whether non executive directors
are devoting sufficient time to carry out their duties. In addition to Paul Skinner, the committee consists of Ashton Calvert, Sir Rod Eddington, David Mayhew and Sir Richard Sykes. Under the Code, two members of the committee are not considered
independent: Paul Skinner, following his appointment as chairman, and David Mayhew. The Code specifically allows the chairman to chair the
Nominations committee,
but, nevertheless, the committee composition is not fully aligned with recommended practice in the UK. The board takes the view, however, that the skills and experience of
the members of the committee makes the current composition both efficient and effective.
The
Committee on social and environmental accountability
reviews the effectiveness of management policies and procedures in place to deliver those standards in
The way we work,
Rio
Tinto's statement of business practice, which are not covered by the other
board committees and, in particular, those relating to health, safety, the environment
and social issues. The overall objective of the committee is to promote the development
of high quality business practices throughout the Group and to develop the necessary
clear accountability on these practices.
Members of the committee, which is chaired by Richard Goodmanson, are Ashton
Calvert, Sir Rod Eddington and Lord Kerr.
Executive directors' other directorships
Executive directors are likely to be invited to become non executive directors of other companies. For full details of the Group policy and fees, see pages 95 to 96.
Directors' dealings in shares
Rio Tinto has a Group policy in place to govern the dealing in Rio Tinto securities by directors and employees. The policy, which prohibits dealings when in possession of price
sensitive information and shortly before a results announcement, can be viewed on the Rio Tinto website.
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Communication
Rio Tinto recognises the importance of effective communication with shareholders and the general investment community. To ensure shareholders are kept informed in a timely manner, the
Group has adopted an
External disclosure guidance,
which is posted on the website
appended to the
Corporate governance guidance
.
In
addition to statutory documents, Rio Tinto has a comprehensive website featuring
in depth information on health, safety and the environment, as well as general
investor information and Group policies. Results presentations and other significant
events are available as they happen and as an archive on the website.
The Group also produces a range of informative publications, which are available on request. For further details, see the website.
Full
advantage is taken of the annual general meetings to inform shareholders of current
developments and to give shareholders the opportunity to ask questions. As recommended
by the ASX Best Practice Corporate Governance Guidelines, Rio Tinto Limited's external auditor attends the annual general meeting and is available to answer shareholder questions about the conduct of the audit and the
preparation and content of the auditor's report. Rio Tinto Limited shareholders are also able to submit written questions regarding the statutory audit report to the auditors via the Company. Any questions received and answers provided will be
made available to the members at the Rio Tinto Limited annual general meeting in May 2006. Rio Tinto plc's
auditors will as usual attend the annual general meeting in London and will be
available to respond to audit related shareholder
questions.
The
main channels of communication with the general investment community are through
the chairman, chief executive and finance director, who conduct regular meetings
with the Companies' major shareholders. The senior independent director
and other non executive directors are also available as appropriate.
The
Group organises regular investor seminars which provide a two way communication
with investors and analysts; the valuable feedback is communicated to the board.
An annual survey of major shareholders' opinion and perception of the Group is presented to the board by the Group's
investor relations advisors.
Statement of business practice
The way we work
provides the directors and all Group employees with a summary of the principal
policies and procedures in place to help ensure that high governance and business standards are communicated and achieved throughout the Group.
Main
policies are adopted by the directors after wide consultation, externally and
within the Group. Once adopted, they are communicated to business units worldwide,
together with guidance and support on implementation. Business units are then
required to devote the necessary effort by management to implement and report
on these policies.
The following policies are currently in place: sustainable development; health, safety and the environment; communities; human rights; access to land;
employment; political involvement; and business integrity; while guidance documents have been issued for corporate governance; compliance; external disclosures, including continuous disclosure, antitrust and code of ethics covering the preparation
of financial statements and risk analysis. These policies and guidances apply to all Rio Tinto managed businesses.
There
is also a Groupwide "whistle blowing" programme called
Speak-OUT.
Employees
are encouraged to report any concerns, including any suspicion of a violation
of the Group's financial reporting and
environmental procedures, through an independent third party and without fear
of recrimination. A process has been established for the investigation of any
matters reported with clear lines of reporting and responsibility in each Group
business.
Where
the Group does not have operating responsibility for a business, Rio Tinto's
policies are communicated to the business partners and they are encouraged to
adopt similar policies of their own.
Rio
Tinto's report on social and environmental matters follows the Association of British Insurers' guidelines. This report can be found on
pages 76 to 80. Details of the Group's overall and individual businesses' social and environmental performance continue to be published on Rio Tinto's
website and in the
Sustainable development review
.
Responsibilities of the directors
The directors are required to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Group as at the end of the
financial period and of the profit or loss and cash flows for that period. This includes, in respect of Rio Tinto plc, preparing financial statements in accordance with UK company law which give a true and fair view of the state of the
Company's affairs, and for preparing a Remuneration report which includes the information required by Part 3 of Schedule 7A to the UK Companies Act 1985 and Australian Accounting Standard AASB 124 "Related Party Disclosures". To
ensure that these requirements are satisfied, the directors are responsible for establishing and maintaining adequate internal controls and procedures for financial reporting throughout the Group.
The
directors consider that the 2005 Annual report and financial statements present
a true and fair view and have been prepared in accordance with applicable accounting
standards, using the most appropriate accounting policies for Rio Tinto's
business and supported by reasonable and prudent judgements and estimates. The
accounting policies have been consistently applied.
The
directors have received a written statement from the chief executive and the
finance director to this effect. In accordance with ASX Best Practice Recommendation
7.2, this written statement relies on a sound system of risk management and internal
compliance and controls which implements the policies adopted by the board and
confirms that the Group's risk management and internal compliance
and control systems are operating efficiently and effectively in all material
respects.
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The directors, senior executives, senior financial managers and other members of staff who are required to exercise judgement in the course of the
preparation of the financial statements are required to conduct themselves with integrity and honesty and in accordance with the ethical standards of their profession and/or business.
The directors are responsible for maintaining proper accounting records, in accordance with the UK Companies Act 1985 and the Australian Corporations Act
2001. They have a general responsibility for taking such steps as are reasonably open to them to safeguard the assets of Group and to prevent and detect fraud and other irregularities The directors are also responsible for the maintenance and
integrity of the Group's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The work carried out by the auditors does not involve consideration
of this and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially available on the website.
Going concern
The financial statements have been prepared on the going concern basis. The directors report that they have satisfied themselves that the Companies and the Group are a going concern
since they have adequate financial resources to continue in operational existence for the foreseeable future.
Boards' statement
      on internal control
Rio
      Tinto's overriding corporate objective is to maximise long term shareholder
      value through responsible and sustainable investment in mining and related
      assets. The directors  recognise that creating shareholder value is the
      reward for taking and accepting risk.
The
      directors are responsible for the Group's system of internal controls
      and for reviewing its effectiveness in providing shareholders with a return
      on their investments that is consistent with a responsible assessment and
      mitigation of risks. This includes reviewing financial, operational and
      compliance controls, and risk management procedures. Because of the limitations
      inherent in any
such system this is designed to manage rather than eliminate risk.
Accordingly, it provides reasonable but not absolute assurance against material misstatement or loss.
The directors have established a process for identifying, evaluating and managing the significant risks faced by the Group. This process was in place
during 2005 and up to and including the date of approval of the 2005
Annual report and financial statements.
The process is reviewed annually by the directors and accords with the guidance set out in
Internal Control: Guidance for Directors
on the
Combined Code.
Two
of the Group's management committees, the
Executive committee
and the
Disclosures and procedures committee
regularly review information
related to the Group's control framework. This information is presented
to the
Audit committee
to
enable its members to assess the effectiveness of the internal controls. In addition,
the board and their committees monitor the
Group's significant risks on an ongoing basis.
Assurance functions, including internal auditors and health, safety and environmental auditors, perform reviews of control activities and provide regular
written and oral reports to directors and management committees. The directors receive and review minutes of the meetings of each board committee, in addition to oral reports from the respective chairmen at the first board meeting following the
relevant committee meeting.
Certain risks, for example natural disasters, cannot be mitigated to an acceptable degree using internal controls. Such major risks are transferred to
third parties in the international insurance markets, to the extent considered appropriate.
Each
year, the leaders of the Group's businesses and administrative offices complete an internal control questionnaire that seeks to confirm that
adequate internal controls are in place and operating effectively. The results of this process are reviewed by the executive committee and it is then presented to the board as a further part of their review of the Group's
internal controls.
This process is continually reviewed and strengthened as appropriate.
In 2002, the Group also established a
Disclosure and procedures
committee,
which was tasked with reviewing the adequacy and effectiveness of Group controls and procedures over the public disclosure of financial and related information.
The committee has been presenting the results of this process to the directors and will continue to do so.
The
Group has material investments in a number of joint ventures and associated companies.
Where Rio Tinto does not have managerial control, it cannot guarantee that local
management of mining assets will comply with Rio Tinto standards or objectives.
Accordingly, the review of their internal controls is less comprehensive than
that for the Group's managed operations.
The New York Stock Exchange
In November 2003, the SEC approved the new corporate governance listing standards of the New York Stock Exchange (NYSE). The Company, as a foreign issuer with American Depositary
Shares listed on the NYSE, is obliged to disclose any significant ways in which its corporate governance practices differ from these standards.
The
Company has reviewed the NYSE's listing standards and believes that its
corporate governance practices are broadly consistent with them, with one exception
where the Company does not meet the strict requirements set out in these standards.
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The
    standards state that companies must have a nominating/ corporate governance
    committee composed entirely of independent directors and with written terms
    of reference which, in addition to identifying individuals qualified to become
    board members, develops and recommends to the board a set of corporate governance
principles applicable to the Company. Rio Tinto has a
Nominations committee
, information about which
    is set out on page 115. This committee does not develop corporate governance
    principles for the board's approval. The board itself performs this task and approves
the Group's overall system of governance and internal controls.
New
          Zealand corporate governance statement
Rio Tinto
      Limited is listed with the ASX and New Zealand Stock Exchange ("NZX"),
      which both have their own corporate governance rules. As an "overseas
      listed
issuer", Rio Tinto Limited is deemed to satisfy the NZX rules while it remains
ASX listed. Additionally the NZX rules require Rio Tinto Limited to disclose
in its annual report any home exchange corporate governance rules and principles
which materially differ from those of the NZX. Although the ASX corporate governance
guidelines are substantially the same as the NZX regime, the following differences
may be considered material:
•
The
        Australian equivalent of a number of the NZX rules including restrictions
        on buy backs, financial assistance
and rules governing auditors are contained in the Corporations
    Act 2001 rather than in the ASX Listing Rules.
•
The
        ASX guidelines extend beyond the NZX rules to specifically address risk
        management, internal controls and
stakeholder interests and require the public disclosure of
    internal policies and procedures.
•
The
        ASX guidelines recommend that a majority of directors must be independent
        whereas the NZX rules require
one third of directors and at least two directors to be independent.
        Independence is defined similarly under both
rules
        but there are
differences.
•
The
        ASX Listing Rules do not require shareholder approval of major transactions
    and related party transactions
to the extent required by the NZX rules.
Despite
        these regulatory differences, the directors believe that Rio Tinto Limited's
        corporate governance practices are consistent with the intentions underlying
        the NZX
Corporate Governance Best Practice Standards.
Principal auditors
The remuneration
  of the Group's principal auditors for audit services and other services,
  as well as remuneration payable to other accounting firms, has been set out
  in Note 44
to the 2005 Financial statements.
Rio
Tinto has adopted policies designed to uphold the independence of the Group's principal auditors by prohibiting their engagement to provide a
range of accounting and other professional services that might compromise their appointment as independent auditors. The engagement of the Group's
principal auditors to provide statutory audit services, certain other assurance
services, tax services and some other specific services are pre-approved annually
by the
Audit committee
. The engagement of the Group's principal auditors to
provide other permitted services are individually subject to the specific approval
of the
Audit committee
or its chairman.
Prior
to the commencement of each financial year, the Group's finance director
submits to the
Audit committee
a schedule of the types of services that are expected to be performed during the following year
for its approval. The
Audit committee
may
impose a US dollar limit on the total value of other permitted services that
can be provided. Any non audit service provided by the Group's principal auditors, where the expected fee exceeds a pre-determined level, must be subject to the Group's normal tender procedures. However, in
exceptional circumstances the finance director is authorised to engage the Group's principal auditors to provide such services without going to tender, but if the fees are expected to exceed US$250,000
then the chairman of the
Audit committee
must approve the engagement.
The
Audit committee
adopted policies for the
pre-approval of permitted services provided by the Group's principal auditors during January 2003. These are regularly reviewed by the committee. Engagements for
services provided by the Group's principal auditors since the adoption of
these policies were either within the pre-approval policies or approved by the
Audit
committee
.
Audit committee
The
Audit committee
meets the membership requirements of the Code, the ASX Corporate Governance Guidelines and the NYSE Code. The Group also meets the composition, operation and responsibility requirements in respect of audit committees mandated by
the Australian Stock Exchange. The
Audit committee
is governed by a written charter
approved by the board, which the
Audit committee
reviews and reassesses each year for
adequacy. A copy of this charter is reproduced on pages 120 to 121.
The
Audit committee
comprises the four members set out below. Vivienne Cox became a member of the committee with effect from April 2005. The members of the committee are independent and are free of any relationship
that would interfere with impartial judgement in carrying out their responsibilities. David Mayhew attends the meetings in an advisory capacity.
Report of the Audit committee
The
Audit committee
met
eight times in 2005. It monitors developments in corporate governance in the UK, Australia and the US, to ensure the Group continues to apply high and appropriate standards.
Many
of the new US requirements have long been best practice and are incorporated
into the committee's charter, reproduced on pages 120 to 121. The
charter is subject to regular discussion and has been reviewed in the light of
new requirements and emerging best practice.
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There
      is in place a set of procedures, including budgetary guidelines, for the
      appointment of the external auditor to undertake non audit work, which
      aims to provide the best possible services for the Group at the most advantageous
price. The committee reviews the independence of the external auditors on an annual basis and a process is also in place to review their effectiveness to ensure that the Group
continues to receive an efficient and unbiased service. The committee advised the directors that the
Audit committee
is satisfied that the provision of non audit services by the external auditors during 2005 is compatible with the general standard of independence for auditors imposed by the Australian
Corporations Act 2001. Furthermore, as part of its responsibility to foster open communication, the committee meets with management, the external auditors and the internal auditor separately.
Financial expert
The
Audit committee
reviewed the SEC requirements for audit committees' financial experts and the Combined Code requirement that at least one committee member should have recent and relevant financial experience. Following a detailed review, the
committee recommended to the board that Andrew Gould and Sir David Clementi be identified as the
Audit committee's
financial experts in the
2005 Annual report and financial statements.
The board has concluded that Andrew Gould and Sir David Clementi possess the requisite skills, experience and background to qualify for the purpose of C.3.1 of the Code as well as fulfilling the
SEC criteria.
2005 financial statements
The
Audit committee
has
reviewed and discussed with management the Group's audited financial statements for the year ended 31 December 2005.
We have discussed with the external auditors the matters described in the American Institute of Certified Public Accountant Auditing Standard No. 90,
Audit committee communications
, and in the International Standard on Auditing (UK and
Ireland) 260,
Communication of Audit Matters with those charged with governance (ISA 260)
, including their judgements regarding the quality of the
Group's accounting principles and underlying estimates.
The
committee has discussed with the external auditors their independence, and received
and reviewed their written disclosures, as required by the US Independence Standards
Board's Standard No. 1, Independence Discussions with Audit Committees and
ISA 260.
Based on the reviews and discussions referred to above, the committee has recommended to the board of directors that the financial statements referred to
above be included in this
Annual report
.
Andrew F J Gould
(Chairman)
Sir David Clementi
Vivienne Cox
Lord Kerr
24 February 2006
Report of the Nominations committee
The
Nominations committee
report of its activities covers a period of considerable change in composition of the board. Three long serving non executive directors retired during 2005. They were Sir Richard Giordano, Leon Davis and John Morschel. The
committee therefore focused on the recruitment, with input from an external search advisers, of replacements with appropriate skills and experience. Ashton Calvert and Vivienne Cox joined the board on 1 February 2005, and Sir Rod Eddington joined
the board on 1 September 2005. Each is an independent director who brings an experience profile which will ensure that the overall quality of the board is maintained. The committee also reviewed matters relating to the succession plans for the
senior executive team. As part of his annual performance assessment of individual directors, Paul Skinner, who is chairman of the
Nominations
committee
, has reviewed the time committed by directors to Group business and confirmed this to be appropriate in each case.
Paul Skinner
(Chairman)
Ashton Calvert, AC
Sir Rod Eddington
David Mayhew
Sir Richard Sykes
24 February 2006
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AUDIT COMMITTEE CHARTER
Scope
          and authority
The Company
      is required by the UK Listing Authority (UKLA), the New York Stock Exchange
      (NYSE), and the Australian Stock Exchange (ASX) to establish an Audit committee.
      Each of the UKLA, the NYSE and the ASX also lay down rules and guidelines
      for the composition of the Committee and the work to be undertaken by it.
      These requirements, where not self evident, have been incorporated into
      this Charter.
The
primary function of the
Audit
committee
is to assist the boards
of directors in fulfilling their responsibilities by reviewing:
•
The
      financial information that will be provided to shareholders and the public;
•
The
      systems of internal controls that the boards and management have established;
•
The
      Group's auditing, accounting and financial reporting processes.
In
        carrying out its responsibilities the committee has full authority to
        investigate all matters that fall within the terms of reference of this
        Charter. Accordingly, the committee
may:
•
Obtain
      independent professional advice in the satisfaction of its duties at the
      cost of the Group;
•
Have
      such direct access to the resources of the Group as it may reasonably require
      including the external and
internal auditors.
Composition
The
Audit committee
shall comprise three or more non executive directors, all of whom shall be independent. The chairman of the
Audit committee
will be an independent director, who is not also the chairman of the boards. The boards will determine each director's independence having regard to the Independence Policy adopted by the
boards, which includes consideration of any past and present relationships with the Group which, in the opinion of the boards, could influence the director's judgment.
All members of the committee shall have a working knowledge of basic finance and accounting practices. At least one member of the committee will have
accounting or related financial management expertise, as determined by the boards.
A quorum will comprise any two committee members.
The committee may invite members of the management team to attend the meetings and to provide information as necessary.
Meetings
The committee shall meet not less than four times a year or more frequently as circumstances require.
Audit committee
minutes will be confirmed at the following meeting of the committee and tabled as soon as practicable at a meeting of the
boards.
The Company's senior financial management, external auditors and internal auditor shall be available to attend all meetings.
As part of its responsibility to foster open communication, the committee should meet with management, the external auditors and the internal auditor, at
least annually, to discuss any matters that are best dealt with privately.
Responsibilities
The boards and the external auditors are accountable to shareholders. The
Audit committee
is accountable to the boards. The internal auditor is accountable to the
Audit committee
and the finance director.
To fulfil its responsibilities the committee shall:
Charter
•
Review
      and, if appropriate, update this Charter at least annually.
Financial
    reporting and internal financial controls
•
Review
      with management and the external auditors the Group's financial statements,
      Form 20-F, stock exchange
and media releases in respect of each half year and full year.
•
Review
      with management and the external auditors the accounting policies and practices
      adopted by the
company
      and their compliance with accounting standards, stock exchange listing rules
      and relevant legislation.
•
Discuss
      with management and the external auditors management's choice of accounting
      principles and material
judgments, including whether they are aggressive or conservative
      and whether they are common or minority
practices.
•
Recommend
      to the boards that the annual and interim financial statements and Form
      20-F reviewed by the
committee (or the chairman representing the committee for this
      purpose) be included in the Group's annual
report.
•
Review
      the regular reports prepared by the internal auditor including the effectiveness
      of the Group's internal
financial controls.
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External
    auditors
•
Review
      and recommend to the boards the external auditors to be proposed to shareholders,
      following a
commercial tender if deemed necessary.
•
Review
      with the external auditors the planned scope of their audit and subsequently
      their audit findings
including any internal control recommendations.
•
Periodically
      consult with the external auditors out of the presence of management about
      the quality of the
Group's accounting principles, material judgments and
      any other matters that the committee deems appropriate.
•
Periodically
      review the performance of the external auditors and the effectiveness of
      the audit process, taking
into consideration relevant professional and regulatory requirements.
•
Review
      and approve the fees and other compensation to be paid to the external auditors.
•
Review
      and approve any non audit work and related fees to be carried out by the
      external auditors.
•
Ensure
      that the external auditors submit a written statement outlining all of its
      professional relationships with the
Group including the provision of services that may affect their
      objectivity or independence. Review and discuss
with
      the external auditors all significant relationships they have with the company
      to determine their
independence.
Internal
    auditor
•
Review
      the qualifications, organisation, strategic focus and resourcing of internal
      audit.
•
Review
      and approve the internal audit plans.
•
Review
      internal audit performance.
•
Periodically
      consult privately with the internal auditor about any significant difficulties
      encountered including
restrictions on scope of work, access to required information
      or any other matters that the committee deems
appropriate.
Risk
    management
•
Review
      and evaluate the internal processes for determining and managing key risk
      areas.
•
Ensure
      the company has an effective risk management system and that macro risks
      are reported at least annually to the board.
•
Require
      periodic reports from nominated senior managers:
–
confirming
      the operation of the risk management system including advice that accountable
      management have confirmed the proper operation of agreed risk mitigation
      strategies and controls; and
–
detailing
      material risks.
•
Address
      the effectiveness of the Company's internal control system with management
      and the internal and external auditors.
•
Evaluate
      the process the Company has in place for assessing and continuously improving
      internal controls, particularly those related to areas of material risk.
Other
    matters
The
        committee shall also perform any other activities consistent with this
        charter that the committee or boards deem appropriate. This will include
    but not be limited to:
•
Review
      of the corporate governance practices of Group sponsored pension funds;
•
Review
      of the Group's insurance cover;
•
Review
      the Group's tax planning and compliance;
•
Review
      the Group's whistleblowing procedures for financial reporting.
Item
      7.
Major
        Shareholders and Related Party Transactions
MAJOR
  SHAREHOLDERS
As far as is
known, Rio Tinto plc is not directly or indirectly owned or controlled by another
corporation or by any government. Rio Tinto plc does not know of any arrangements
which
may result in a change in its control. As of
31 May 2006, the total amount of the voting securities owned by the directors of Rio Tinto plc as a group was 90,957 ordinary shares of 10p each representing less than one per cent of
the number in issue.
As far as is known, Rio Tinto Limited, with the exception of the arrangements for the dual listed companies merger described on pages 128 to 130, is not
directly or indirectly owned or controlled by another corporation or by any government. As of 31 May 2006, the only person known to Rio Tinto Limited as owning more than five per cent of its shares was Tinto Holdings Australia Pty Limited, which is
an indirect wholly owned subsidiary of Rio Tinto plc, with 171,072,520 shares, representing 37.48 per cent of its issued capital. Rio Tinto Limited does not know of any arrangements which may result in a change in its control. As of 31 May 2006 the
total amount of the voting securities owned by the directors of Rio Tinto Limited as a group was 91,255 shares representing less than one per cent of the number in issue.
Rio
        Tinto 2005
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        20-F
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Directors' interests in Group voting securities are shown in Table 3 on page 102. Their total beneficial interest in the Group amounts to less than
one per cent.
Except as provided under the DLC Merger Sharing Agreement as explained on pages 128 to 129, the Group's major shareholders have the same voting and
other rights as other shareholders.
As at 31 May 2006 there were 253 US registered shareholders holding 151,286 shares in Rio Tinto plc, and 230 US registered shareholders holding 320,867
shares in Rio Tinto Limited.
SUBSTANTIAL SHAREHOLDERS
Under the Listing Rules, any shareholder of Rio Tinto plc with a beneficial interest of more than three per cent, or of Rio Tinto Limited with a beneficial interest of more than five
per cent, is required to provide the Companies with notice. Excluding the interest held by Tinto Holdings Australia Pty Limited in Rio Tinto Limited, the shareholders to have provided such notice are:
RIO
TINTO plc
Date of notice
Number of
Percentage
shares
of
	    issued
share
	    capital
Barclays PLC
5 May 2006
41,776,631
3.950
The Capital Group Companies, Inc
26 May 2006
42,254,917
4.007
Fidelity Management and Research Company
23 December 2005
33,690,364
3.150
Legal & General plc
5 October 2005
33,539,570
3.130
Note
As
      far as it is known, Rio Tinto is not directly or indirectly owned or controlled
    by another corporation or by any government.
RIO TINTO LIMITED
Date of notice
Number of
Percentage
shares
of
	    issued
share
	    capital
None
—
—
Note
Rio
      Tinto is not aware of any arrangement which may result in a change in its
    control.
ANALYSIS OF ORDINARY SHAREHOLDERS
As at 31 May 2006
Rio Tinto plc
Rio Tinto Limited
No of
%
Shares
%
No of
%
Shares
%
accounts
accounts
1 to 1,000 shares
38,340
69.73
15,146,557
1.44
67,651
78.98
25,093,570
5.49
1,001 to 5,000 shares
13,580
24.70
27,331,242
2.59
15,808
18.46
30,966,597
6.78
5,001 to 10,000 shares
1,198
2.18
8,264,615
0.78
1,347
1.57
9,385,638
2.05
10,001 to 25,000 shares
632
1.15
9,820,280
0.93
556
0.65
8,260,372
1.81
25,001 to 125,000 shares
615
1.12
36,057,983
3.42
209
0.25
9,759,729
2.14
125,001 to 250,000 shares
194
0.35
34,912,634
3.31
29
0.03
5,054,995
1.11
250,001 to 1,250,000 shares
279
0.51
155,625,130
14.76
34
0.04
18,559,366
4.06
1,250,001 to 2,500,000
70
0.13
126,150,537
11.97
9
0.01
15,259,754
3.34
2,500,001 and over
72
0.13
524,990,879
49.80
11
0.01
334,362,490
73.19
ADRs
1
0.00
115,859,816
10.99
1
0.00
113,432
0.02
55,756
100
1,054,214,489
100
83,563
100
456,815,943
100
Shares held in treasury
18,093,070
—
1,072,307,559
456,815,943
Number of holdings less than marketable parcel of A$500.
1,374
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        Tinto 2005
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        20-F
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TWENTY LARGEST REGISTERED SHAREHOLDERS
As at 31 May 2006
In accordance with the ASX Listing Rules, below are the names of the twenty largest registered holders of Rio Tinto Limited shares and the number of shares and the percentage of
issued capital each holds:
RIO
      TINTO LIMITED
Number
        of
Percentage
shares
of
      issued
share
capital
1
Tinto
      Holdings Australia Pty Limited
171,072,520
37.45
2
J
      P Morgan Nominees Australia Limited
44,463,074
9.73
3
National
      Nominees Limited
37,191,058
8.14
4
Westpac
      Custodian Nominees Limited
37,053,361
8.11
5
ANZ
      Nominees Limited <CASH INCOME>
16,411,622
3.59
6
Citicorp
      Nominees PTY Limited
9,327,173
2.04
7
Cogent
      Nominees Pty Limited
6,674,301
1.46
8
Queensland
      Investment Corporation
3,474,258
0.76
9
Citicorp
      Nominees Pty Limited <CFS WSLE GEARED SHR FND A/C
3,375,324
0.74
10
Citicorp
      Nominees Pty Limited <CFS WSLE IMPUTATION FND A/C>
2,810,581
0.62
11
HSBC
      Custody Nominees (Australia) Limited
2,509,218
0.55
12
Westpac
      Financial Services Limited
2,422,823
0.53
13
RBC
      Dexia Investor Services Australia Nominees PTY Limited <PIPOOLED>
2,145,366
0.47
14
Citicorp
      Nominees Pty Limited<CFS IMPUTATION FUND A/C>
1,864,309
0.41
15
Australian
      Foundation Investment Company Limited
1,845,914
0.40
16
UBS
      Wealth Management Australia Nominees PTY LTD
1,629,692
0.36
17
AMP
      Life Limited
1,369,955
0.30
18
RBC
      Dexia Investor Services Australia Nominees PTY Limited <BKCUST>
1,363,811
0.30
19
Citicorp
      Nominees pty Limited<CFS WSLE AUST SHARE FND>
1,326,521
0.29
20
RBC
      Dexia Investor Services Australia Nominees PTY Limited
1,291,363
0.28
349,622,244
76.53
Notes
1.
Tinto
      Holdings Australia Pty Limited is a wholly owned subsidiary of Rio Tinto
      plc.
2.
Registered
      nominees hold securities on behalf of beneficial shareholders.
RELATED PARTY TRANSACTIONS
Details of
      the Group's material related party transactions are set out in Note 45
    of the 2005 Financial statements.
The
    Group's
    financial statements and disclosures show the full extent of its financial
    commitments including debt and similar exposures. The Group's share
    of the net debt of jointly controlled entities and associates is also disclosed.
Item
      8.
Financial
      Information
LEGAL
  PROCEEDINGS
Neither Rio Tinto plc nor Rio Tinto Limited nor any
  of their subsidiaries is a defendant in any proceedings which the directors
  believe will have a material effect on either Company's financial position
or profitability.
Contingencies
      are disclosed in Note 36 of the 2005 Financial statements.
DIVIDENDS
Both Companies have paid dividends
    on their shares every year since incorporation in 1962. The rights of Rio
    Tinto shareholders
  to receive dividends are explained under the description of the Dual Listed
  Companies' Structure on page 128.
Dividend policy
The
      aim of Rio Tinto's progressive
      dividend policy is to increase the US dollar value of ordinary dividends
      over time,
    without cutting them in economic downturns.
The rate
    of the total annual dividend, in US dollars, is determined taking into account
    the results for the past year and the outlook for the current year. The interim
    dividend is set at one half of the total ordinary dividend for the previous
    year. Under Rio Tinto's dividend policy the final ordinary dividend for
    each year is expected to be at least equal to the previous interim dividend.
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        Tinto 2005
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Dividend determination
The majority of the Group's sales are transacted in US dollars, making this the most reliable measure for the Group's global business performance. It is Rio Tinto's
main reporting currency and consequently the natural currency for dividend determination. Dividends determined in US dollars are translated at exchange rates prevailing two days prior to the announcement and are then declared payable in sterling by
Rio Tinto plc and in Australian dollars by Rio Tinto Limited.
On request shareholders of Rio Tinto plc can elect to receive dividends in Australian dollars and shareholders of Rio Tinto Limited can elect to receive
dividends in sterling. Shareholders requiring further information should contact Computershare.
2005 dividends
The 2005 interim and final dividends were determined at 38.5 US cents and at 41.5 US cents per share respectively and the applicable translation rates were US$1.7704 and
US$1.7774 to the pound sterling and US$0.7615 and US$0.7564 to the Australian dollar. A special dividend of 110.00 US cents per share was also declared payable at the same time as the final dividend.
Final dividends of 23.35 pence per share and of 54.86 Australian cents per share, together with the special dividend of 61.89 pence and 145.42 Australian
cents, will be paid on 6 April 2006. A final dividend of 166 US cents, together with a special dividend of 440 US cents per ADR (each representing four shares), will be paid by JPMorgan Chase Bank NA to ADR holders on 7 April 2006.
The tables below set out the amounts of interim, final and special cash dividends paid or payable on each share or ADS in respect of each financial year,
but before deduction of any withholding tax.
Rio
      Tinto Group – US cents per share
2005
2004
2003
2002
2001
Interim
38.5
32.0
30.0
29.5
20.0
Final
41.5
45.0
34.0
30.5
39.0
Special
110.0
—
—
—
—
Total
190.0
77.0
64.0
60.0
59.0
Rio
      Tinto plc – UK pence per share
2005
2004
2003
2002
2001
Interim
21.75
17.54
18.45
18.87
14.03
Final
23.35
23.94
18.68
18.60
27.65
Special
61.89
—
—
—
—
Total
106.99
41.48
37.13
37.47
41.68
Rio
      Tinto Limited – Australian cents per share
2005
2004
2003
2002
2001
Interim
50.56
45.53
45.02
54.06
39.42
Final
54.86
58.29
44.68
51.87
75.85
Special
145.42
—
—
—
—
Total
250.84
103.82
89.70
105.93
115.27
Rio
      Tinto plc and Rio Tinto Limited – US cents per ADS
2005
2004
2003
2002
2001
Interim
154
128
120
118
80
Final
166
180
136
122
156
Special
440
—
—
—
—
Total
760
308
256
240
236
Dividend reinvestment plan (DRP)
Rio Tinto offers a DRP to registered shareholders which provides the opportunity to use cash dividends to purchase Rio Tinto shares in the market free of commission, see Taxation on
pages 133 and 134 for an explanation of the tax consequences. Due to local legislation the DRP cannot be extended to shareholders in the US, Canada and certain other countries. Please contact Computershare for further information.
POST BALANCE SHEET EVENTS
No
        significant changes have occurred since the date of the financial statements.
    Changes which may be of interest are:
•
Share
      buybacks and issues, which are discussed on page 10;
•
Western
      Australian Government approval and ratification of the Hope Downs Joint
      Venture in April 2006,
which
      is discussed on page 61; and
•
For
      the contract year commencing April 2006 RTIO reached agreement with customers
      on price increases for its
products of 19 per cent.
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Item
    9.
The
          Offer
and Listing
MARKET LISTINGS AND SHARE PRICES
Rio Tinto plc
The principal market for Rio Tinto plc shares is the London Stock Exchange (LSE).
As a constituent of the Financial Times Stock Exchange 100 index (FTSE 100), Rio Tinto plc shares trade through the Stock Exchange Electronic Trading
Service (SETS) system.
Central to the SETS system is the electronic order book on which an LSE member firm can post buy and sell orders, either on its own behalf or for its
clients. Buy and sell orders are executed against each other automatically in strict price, then size, priority. The order book operates from 8.00 am to 4.30 pm daily. From 7.50 am to 8.00 am orders may be added to, or deleted from the book, but
execution does not occur. At 8.00 am the market opens by means of an uncrossing algorithm which calculates the greatest volume of trades on the book which can be executed, then matches the orders, leaving unexecuted orders on the book at the start
of trading.
All orders placed on the order book are firm and are for standard three day settlement. While the order book is vital to all market participants, orders
are anonymous, with the counterparties being revealed to each other only after execution of the trade.
Use of the order book is not mandatory but all trades, regardless of size, executed over the SETS system are published immediately. The only exception to
this is where a Worked Principal Agreement (WPA) is entered into for trades greater than 8 x Normal Market Size (NMS). Rio Tinto plc has an NMS of 75,000 shares. Publication of trades entered under a WPA is delayed until the earlier of 80 per cent
of the risk position assumed by the member firm taking on the trade being unwound or the end of the business day.
Closing LSE share prices are published in most UK national newspapers and are also available during the day on the Rio Tinto and other websites. Share
prices are also available on CEEFAX and TELETEXT and can be obtained through the Cityline service operated by the Financial Times in the UK: telephone 0906 843 3880; calls are currently charged at 60p per minute plus VAT, in addition to any mobile
phone charges.
Rio Tinto plc has a sponsored American Depositary Receipt (ADR) facility with JPMorgan Chase Bank NA under a Deposit Agreement, dated 13 July 1988, as
amended on 11 June 1990, as further amended and restated on 15 February 1999 and as further amended and restated on 18 February 2005. The ADRs evidence Rio Tinto plc American Depositary Shares (ADS), each representing four ordinary shares. The
shares are registered with the US Securities and Exchange Commission (SEC), are listed on the New York Stock Exchange (NYSE) and are traded under the symbol 'RTP'.
Rio
Tinto plc shares are also listed on Euronext and on Deutsche Börse.
The
following table shows share prices for the period indicated, the reported high
and low middle market quotations, which represent an average of bid and asked
prices, for Rio Tinto plc's shares on the LSE based on the LSE Daily Official
List, and the highest and lowest sale prices of the Rio Tinto plc ADSs as reported
on the NYSE composite tape.
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        Tinto 2005
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    20-F
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Pence per
US$ per
Rio Tinto plc share
Rio Tinto plc ADS
High
Low
High
Low
2001
1,475
930
84.10
55.00
2002
1,492
981
85.93
62.00
2003
1,543
1,093
111.35
71.70
2004
1,574
1,212
119.39
86.42
2005
2,657
1,472
183.29
111.57
Aug 2005
2,075
1,876
150.24
133.90
Sep 2005
2,346
1,936
166.90
143.33
Oct 2005
2,308
2,073
163.77
148.81
Nov 2005
2,414
2,176
167.50
153.43
Dec 2005
2,657
2,402
183.29
168.33
Jan 2006
2,800
2,634
212.94
184.08
Feb2006
2,945
2,680
207.76
188.64
Mar 2006
2,941
2,588
208.48
180.01
Apr 2006
3,193
2,922
230.25
212.00
May 2006
3,322
2,660
246.78
205.00
2004
First quarter
1,574
1,297
111.50
95.95
Second quarter
1,409
1,212
105.30
86.42
Third quarter
1,496
1,313
108.65
97.03
Fourth quarter
1,562
1,421
119.39
103.48
2005
First quarter
1,851
1,472
142.80
111.57
Second quarter
1,762
1,557
130.75
115.80
Third quarter
2,346
1,724
166.90
122.98
Fourth quarter
2,657
2,073
183.29
148.81
2006
First quarter
2,945
2,588
212.94
180.01
As at 31 May 2006, there were 55,994 holders of record of Rio Tinto plc's shares. Of these holders, 253 had registered addresses in the US and held a total of 151,286 Rio Tinto
plc shares, representing 0.01 per cent of the total number of Rio Tinto plc shares issued and outstanding as at such date. In addition, 115.9 million Rio Tinto plc shares were registered in the name of a custodian account in London which represented
11.0 per cent of the publicly held Rio Tinto plc shares issued and outstanding. These shares were represented by 29.0 million Rio Tinto plc ADSs held of record by 368 ADR holders. In addition, certain accounts of record with registered addresses
other than in the US hold shares, in whole or in part, beneficially for US persons.
Rio Tinto Limited
Rio Tinto Limited shares are listed on the Australian Stock Exchange (ASX) and the New Zealand Stock Exchange. The ASX is the principal trading market for Rio Tinto Limited shares.
The ASX is a national stock exchange operating in the capital city of each Australian State with an automated trading system. Although not listed, Rio Tinto Limited shares are also traded in London.
Closing ASX share prices are published in most Australian newspapers and are also available during the day on the Rio Tinto and other websites.
Rio Tinto Limited has an ADR facility with JPMorgan Chase Bank NA under a Deposit Agreement, dated 6 June 1989, as amended on 1 August 1989, as further
amended and restated on 2 June 1992 and as further amended and restated on 7 July 2005. The ADRs evidence Rio Tinto Limited's ADSs, each representing four shares and are traded in the over the counter market under the symbol
'RTOLY'.
The Group's two ADR programmes were established before the 1995 merger of Rio Tinto plc and Rio Tinto Limited in a dual listed companies structure.
The Group does not believe that there is any benefit in continuing to maintain two separate ADR programmes and due to the relative size of the Rio Tinto Limited ADR programme has decided that it should be terminated. In February 2006 formal notice
of termination of the Deposit Agreement was given to JPMorgan Chase Bank NA with the intention that it should be terminated on 10 April 2006, immediately after the payment of the final dividend to the ADR holders. Any questions concerning holdings
of Rio Tinto Limited ADRs should be directed to the JPMorgan Service Center on (800) 990 1135.
The following tables set out for the periods indicated the high and low closing sale prices of Rio Tinto Limited shares based upon information provided
by the ASX and the highest and lowest trading prices of Rio Tinto Limited ADSs, as advised by JPMorgan Chase Bank NA. There is no established trading market in the US for Rio Tinto Limited's shares or ADSs.
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A$ per
US$ per
Rio Tinto Limited share
Rio Tinto Limited ADS
High
Low
High
Low
2001
38.62
28.40
80.55
54.00
2002
41.35
29.05
85.24
63.62
2003
37.54
28.17
112.42
73.85
2004
40.20
31.98
125.00
91.60
2005
69.10
38.82
204.00
118.56
Aug 2005
53.10
49.17
166.00
149.75
Sept 2005
60.01
50.55
181.00
156.00
Oct 2005
58.93
54.27
180.75
163.25
Nov 2005
62.60
57.00
187.00
169.78
Dec 2005
69.10
60.40
204.00
179.50
Jan 2006
71.06
68.80
234.00
207.00
Feb 2006
75.57
70.95
229.75
209.00
Mar 2006
78.85
67.50
226.00
197.50
Apr 2006
85.31
78.65
246.00
232.00
May 2006
87.97
74.65
n/a
n/a
2004
First quarter
38.50
33.80
115.00
99.45
Second quarter
36.18
31.98
108.00
91.60
Third quarter
38.60
35.56
108.20
102.00
Fourth quarter
40.20
36.30
125.00
107.00
2005
First quarter
47.93
38.82
153.00
118.56
Second quarter
45.90
41.40
143.75
127.50
Third quarter
60.01
45.12
181.00
135.00
Fourth quarter
69.10
54.27
204.00
163.25
2006
First quarter
78.85
67.50
234.00
197.50
As at 31 May 2006, a total of 320,867 Rio Tinto Limited shares were held of record by 230 persons with registered addresses in the US, which represented
approximately 0.07 per cent of the total number of Rio Tinto Limited shares issued and outstanding as of such date. Rio Tinto plc and Rio Tinto Limited established separate ADR programmes prior to their merger and have maintained both but following
a recent review it was concluded that the Rio Tinto Limited ADR programme should be terminated with effect from 10 April 2006 and a notice of termination was mailed to ADR holders. The Rio Tinto plc ADR programme will not be affected by this
termination. As at 31 May 2006, an aggregate of 28,358 Rio Tinto Limited ADSs remained outstanding, representing 113,432 Rio Tinto Limited shares, and were held of record by 40 persons with registered addresses in the US, which represented less than
one per cent of the total number of Rio Tinto Limited shares issued and outstanding. In addition, nominee accounts of record with registered addresses other than in the US may hold Rio Tinto Limited shares, in whole or in part, beneficially for US
persons.
ADR holders
ADR holders may instruct JPMorgan Chase Bank NA as to how the shares represented by their ADRs should be voted.
Registered
      holders of ADRs will have the
Annual review
and interim reports mailed to them at their record address. Brokers or financial institutions,
  which hold ADRs for shareholder clients, are responsible for forwarding shareholder information to their clients and will be provided with copies of the
Annual review
and interim reports for this purpose.
Rio
Tinto is subject to the US Securities and Exchange Commission (SEC) reporting
requirements for foreign companies. A Form 20-F, which corresponds with the Form
10-K in US public companies, will be filed with the SEC. Rio Tinto's Form
20-F and other filings can be viewed on the SEC web site at www.sec.gov.
Investment warning
Past performance of shares is not necessarily a guide to future performance. The value of shares and investments and the income derived from them can go down as well as up, and
investors may not get back the amount they invested.
Rio
          Tinto 2005
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    20-F
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Item
    10.
Additional
    Information
DUAL LISTED COMPANIES STRUCTURE
On 20 December 1995, Rio Tinto shareholders approved the terms of the dual listed companies merger (the DLC merger) which was designed to place the shareholders of both Companies in
substantially the same position as if they held shares in a single enterprise owning all of the assets of both Companies. As a condition of its approval of the DLC merger, the Australian Government required Rio Tinto plc to reduce its shareholding
in Rio Tinto Limited to 39 per cent by the end of 2005. Consistent with the commitments made to the Australian Government in 1995, the Rio Tinto plc shareholding in Rio Tinto Limited has been reduced over time to now stand at approximately 37.5 per
cent.
Following the approval of the DLC merger, both Companies entered into a DLC Merger Sharing Agreement (the Sharing Agreement) through which each Company
agreed: (a) to ensure that the businesses of Rio Tinto plc and Rio Tinto Limited are managed on a unified basis, (b) to ensure that the boards of directors of each Company is the same, and (c) to give effect to certain arrangements designed to
provide shareholders of each Company with a common economic interest in the combined enterprise.
In order to achieve this third objective, the Sharing Agreement provided for the ratio of dividend, voting and capital distribution rights attached to
each Rio Tinto plc share and to each Rio Tinto Limited share to be fixed in an Equalisation Ratio which has remained unchanged at 1:1. The Sharing Agreement has provided for this ratio to be revised in special circumstances where, for example,
certain modifications are made to the share capital of one Company, such as rights issues, bonus issues, share splits and share consolidations, but not to the share capital of the other. Outside these specified circumstances, the Equalisation Ratio
can only be altered with the approval of shareholders under the Class Rights Action approval procedure described under Voting rights. In addition, any adjustments are required to be confirmed by the auditors.
One consequence of the DLC merger is that Rio Tinto is subject to a wide range of laws, rules and regulatory review across multiple jurisdictions. Where
these rules differ, in many instances it means that Rio Tinto, as a Group, complies with the strictest applicable level.
Consistent with the creation of a single combined enterprise under the DLC merger, directors of each Company act in the best interests of the
shareholders of both Companies ie, in the best interests of Rio Tinto as a whole. When matters may involve a conflict of interests between the shareholders of each Company they must be approved under the Class Rights Action approval
procedure.
To ensure that the boards of both Companies are identical, resolutions to appoint or remove directors must be put to shareholders of both as a joint
electorate as Joint Decisions as described under Voting rights, and it is a requirement that a person can only be a director of one Company if that person is also a director of the other Company. So, for example, if a person was removed as a
director of one Company, he or she would also cease to be a director of the other.
Dividend rights
The Sharing Agreement provides for dividends paid on Rio Tinto plc and Rio Tinto Limited shares to be equalised on a net cash basis, that is without taking into account any associated
tax credits. Dividends are determined in US dollars and are then, except for ADR holders, translated and paid in sterling and Australian dollars. The Companies are also required to announce and pay their dividends and other distributions as close in
time to each other as possible.
In the unlikely event that one Company did not have sufficient distributable reserves to pay the equalised dividend or the equalised capital
distribution, it would be entitled to receive a top up payment from the other Company. The top up payment could be made as a dividend on the DLC Dividend Share or by way of a contractual payment.
If the payment of an equalised dividend would contravene the law applicable to one of the Companies, then they may depart from the Equalisation Ratio.
However, should such a departure occur then the relevant Company will put aside reserves to be held for payment on the relevant shares at a later date.
Rio Tinto shareholders have no direct rights to enforce the dividend equalisation provisions of the Sharing Agreement.
The DLC Dividend Share can also be utilised to provide the Group with flexibility for internal funds management by allowing dividends to be paid between
the two parts of the Group. Such dividend payments are of no economic significance to the shareholders of either Company, as they will have no effect on the Group's overall resources.
Voting rights
In principle, the Sharing Agreement provides for the public shareholders of Rio Tinto plc and Rio Tinto Limited to vote as a joint electorate on all matters which affect shareholders
of both Companies in similar ways. These are referred to as Joint Decisions. Such Joint Decisions include the creation of new classes of share capital, the appointment or removal of directors and auditors and the receiving of annual financial
statements. Joint Decisions are voted on a poll.
The
Sharing Agreement also provides for the protection of the public shareholders
of each Company by treating the shares issued by each Company as if they were
separate classes of shares issued by a single company. So decisions that do not
affect the shareholders of both Companies equally require the separate approval
of the shareholders of both Companies. Matters requiring this approval procedure
are referred to as Class Rights Actions and are voted on a poll.
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Thus,
      the interests of the shareholders of each Company are protected against
      decisions which affect them and the shareholders in the other company differently,
      by requiring their separate approval. For example, fundamental elements
      of the DLC merger cannot be changed unless approved by shareholders under
      the Class Rights Action approval procedure.
Exceptions to these principles can arise in situations such as where legislation requires the separate approval of a decision by the appropriate majority
of shareholders in one Company and where approval of the matter by shareholders of the other Company is not required.
Where a matter has been expressly categorised as either a Joint Decision or a Class Rights Action, the directors do not have the power to change that
categorisation. If a matter falls within both categories, it is treated as a Class Rights Action. In addition, the directors can determine that matters not expressly listed in either category should be put to shareholders for their approval under
either procedure.
To facilitate the joint voting arrangements each Company has entered into shareholder voting agreements. Each Company has issued a Special Voting Share
to a special purpose company held in trust by a common Trustee.
Rio Tinto plc has issued its Special Voting Share (RTP Special Voting Share) to RTL Shareholder SVC and Rio Tinto Limited has issued its Special Voting
Share (RTL Special Voting Share) to RTP Shareholder SVC. The total number of votes cast on Joint Decisions by the public shareholders of one Company are voted at the parallel meeting of the other Company. The role of these special purpose companies
in achieving this is described below.
In
exceptional circumstances, certain public shareholders of the Companies can be
excluded from voting at the respective Company's general meetings
because they have acquired shares in one Company in excess of a given threshold
without making an offer for all the shares in the other Company. If this should
occur, the votes cast by these excluded shareholders will be disregarded.
Following
the Companies' general meetings the overall results of the voting on Joint
Decisions and the results of voting on separate decisions will be announced to
the stock exchanges, published on the Rio Tinto website and advertised in the
Financial Times and Australian newspapers.
Rio Tinto plc
At a Rio Tinto plc shareholders' meeting at which a Joint Decision will be considered, each Rio Tinto plc share will carry one vote and the holder of its Special Voting Share
will have one vote for each vote cast by the public shareholders of Rio Tinto Limited. The holder of the Special Voting Share is required to vote strictly and only in accordance with the votes cast by public shareholders for and against the
equivalent resolution at the parallel Rio Tinto Limited shareholders' meeting.
The holders of Rio Tinto Limited ordinary shares do not actually hold any voting shares in Rio Tinto plc by virtue of their holding in Rio Tinto Limited
and cannot enforce the voting arrangements relating to the Special Voting Share.
Rio Tinto Limited
At a Rio Tinto Limited shareholders' meeting at which a Joint Decision will be considered, each Rio Tinto Limited share will carry one vote and, together with the Rio Tinto
Limited ordinary shares held by Tinto Holdings Australia, the holder of its Special Voting Share will carry one vote for each vote cast by the public shareholders of Rio Tinto plc in their parallel meeting. Tinto Holdings Australia and the holder of
the Special Voting Share are required to vote strictly, and only, in accordance with the votes cast for and against the equivalent resolution at the parallel Rio Tinto plc shareholders' meeting.
The holders of Rio Tinto plc ordinary shares do not actually hold any voting shares in Rio Tinto Limited by virtue of their holding in Rio Tinto plc and
cannot enforce the voting arrangements relating to the Special Voting Share.
Capital distribution rights
If either of the Companies goes into liquidation, the Sharing Agreement provides for a valuation to be made of the surplus assets of both Companies. If the surplus assets available
for distribution by one Company on each of the shares held by its public shareholders exceed the surplus assets available for distribution by the other Company on each of the shares held by its public shareholders, then an equalising payment between
the two Companies shall be made, to the extent permitted by applicable law, such that the amount available for distribution on each share held by public shareholders of each Company conforms to the Equalisation Ratio. The objective is to ensure that
the public shareholders of both Companies have equivalent rights to the assets of the combined Group on a per share basis, taking account of the Equalisation Ratio.
The Sharing Agreement does not grant any enforceable rights to the shareholders of either Company upon liquidation of a Company.
Limitations on ownership of shares and merger obligations
The laws and
regulations of the UK and Australia impose certain restrictions and obligations
on persons who control interests in public quoted companies in excess of certain
thresholds that, under certain circumstances, include obligations to make a public
offer for all of the outstanding issued shares of the relevant company. The threshold
applicable to Rio Tinto plc under UK law and regulations is 30 per cent and to
Rio Tinto Limited under Australian law and regulations is 20 per cent.
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As part of the DLC merger, the memorandum and articles of association of Rio Tinto plc and the constitution of Rio Tinto Limited were amended with the
intention of extending these laws and regulations to the combined enterprise and, in particular, to ensure that a person cannot exercise control over one Company without having made offers to the public shareholders of both Companies. It is
consistent with the creation of the single economic enterprise and the equal treatment of the two sets of shareholders, that these laws and regulations should operate in this way. The articles of association of Rio Tinto plc and the constitution of
Rio Tinto Limited impose restrictions on any person who controls, directly or indirectly, 20 per cent or more of the votes on a Joint Decision. If, however, such a person only has an interest in either Rio Tinto Limited or Rio Tinto plc, then the
restrictions will only apply if they control, directly or indirectly, 30 per cent or more of the votes at that Company's general meetings.
If one of the thresholds specified above is breached then, subject to certain limited exceptions and notification by the relevant Company, such persons
(i) may not attend or vote at general meetings of the relevant Company; (ii) may not receive dividends or other distributions from the relevant Company; and (iii) may be divested of their interest by the directors of the relevant Company. These
restrictions will continue to apply until such persons have either made a public offer for all of the publicly held shares of the other Company, or have reduced their controlling interest below the thresholds specified, or have acquired through a
permitted means at least 50 per cent of the voting rights of all the shares held by the public shareholders of each Company.
These provisions are designed to ensure that offers for the publicly held shares of both Companies would be required to avoid the restrictions set out
above, even if the interests which breach the thresholds are only held in one of the Companies. The directors do not have the discretion to exempt a person from the operation of these rules.
Under the Sharing Agreement, the Companies agree to cooperate to enforce the restrictions contained in their articles of association and constitution and
also agree that no member of the Rio Tinto Group shall accept a third party offer for Rio Tinto Limited shares unless such acceptance is approved by a Joint Decision of the public shareholders of both Companies.
Guarantees
In
December 1995, each Company entered into a Deed Poll Guarantee in favour of creditors
      of the other Company. Pursuant to the Deed Poll Guarantees, each Company
      guaranteed the contractual obligations of the other Company and the obligations
      of other persons which are guaranteed by the other Company, subject to
      certain limited exceptions. Beneficiaries under the Deed Poll Guarantees
      may make demand upon the guarantor thereunder without first having recourse
      to the Company or persons whose obligations are being guaranteed. The obligations
      of the guarantor under each Deed Poll Guarantee expire upon termination
      of the Sharing Agreement and under other limited circumstances, but only
      in respect of obligations arising after such termination and, in the case
      of other limited circumstances, the publication and expiry of due notice.
      The shareholders of the Companies cannot enforce the provision of the Deed
      Poll Guarantees.
MEMORANDUM AND ARTICLES OF ASSOCIATION
Rio Tinto
      plc adopted new Articles of Association by Special Resolution passed on
      11 April 2002 and amended on
14
      April 2005; and Rio Tinto Limited amended its Constitution by Special Resolution
      on 18 April 2002 and on 29 April 2005. The resolutions passed during April
      2005 were in consequence to a growing market practice in Australia for
      companies to undertake off market tender buy backs where the buy back price
      is below the prevailing market prices. Subject to obtaining regulatory
      relief, such buy backs do not require shareholder approval. The effect
      of the resolutions was to make it clear that, provided a buy back complied
      with all applicable laws, it would not require additional shareholder approval
      for purposes of the dual listed companies ('DLC').
Introduction
As explained
      on pages 128 to 130 under the terms of the DLC merger the shareholders
      of Rio Tinto plc and of Rio Tinto Limited entered into certain contractual
      arrangements which are designed to place the shareholders of both Companies
      in substantially the same position as if they held shares in a single enterprise
      which owned all of the assets of both Companies. Generally and as far as
      is permitted by the UK Companies Act and the Australian Corporations Law
      this principle is reflected in the Memorandum and Articles of Association
      of Rio Tinto plc and in the Constitution of Rio Tinto Limited. The summaries
      below include descriptions of material rights of the shareholders of both
      Rio Tinto plc and Rio Tinto Limited. Unless stated otherwise the Memorandum
      and Articles of Association of and Constitution are identical.
Rio Tinto plc is incorporated under the name "Rio Tinto plc" and is registered in England and Wales with registered number 719885 and Rio Tinto
Limited is incorporated under the name "Rio Tinto Limited" and is registered in Australia with ACN Number 004458404.
No holder of shares, which may be held in either certificated or uncertificated form, will be required to make any additional contributions of
capital.
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Objects
The objects
    of Rio Tinto plc are set out in the fourth clause of its Memorandum of Association
    and the objects of Rio Tinto Limited are set out in the second clause of its
    Constitution. Included in these objects is the right for each Company to enter
    into, with one another, operate and carry into effect an Agreement known as
    the DLC Merger Sharing Agreement and a Deed Poll Guarantee.
Other
    objects of Rio Tinto plc include provisions:
•
to
      carry on as an Investment Holding Company;
•
to
      subscribe for, sell, exchange or dispose of any type of security or investment;
•
to
      purchase any estate or interest in property or assets;
•
to
      borrow and raise money to secure or discharge any debt or obligation of
      or binding on the Company;
•
to
      draw, make or deal in negotiable or transferable instruments;
•
to
      amalgamate with and co-operate with or assist or subsidise any company,
      firm or person and to purchase or otherwise acquire or undertake all or
      any part of the business property or liabilities of any person, body or
      company carrying on any business which this Company is authorised to carry
      on;
•
to
      promote the Company;
•
to
      lend money and guarantee contracts or obligations of the Company and to
      give all kinds of indemnities;
•
to
      sell, lease, grant licences and other rights over any part of the Company;
to
      procure the registration of the Company outside England;
•
to
      subscribe or guarantee money to any national, charitable, benevolent, public,
      general or exhibition which may further the objects of the Company or the
      interest of its members;
•
to
      grant pensions or gratuities to employees, ex-employees, officers and ex-officers;
•
to
      establish any scheme or trust which may benefit employees;
•
to
      lend money to employees to purchase Company shares;
•
to
      purchase and maintain insurance for employees and to carry on the objects
      of the Company in any part of the world either as principals, agents, contractors,
      trustees or otherwise.
Other
    objects of Rio Tinto Limited include the powers:
•
to
      prospect for, explore, quarry, develop, excavate, dredge for, open, work,
      win, purchase or otherwise obtain all minerals, metals and substances;
•
to
      carry on business as proprietors of and to purchase, take on, lease or in
      exchange or otherwise acquire and control mineral and other properties,
      lands and hereditaments of any tenure, mines and other rights or options
      thereon
•
to
      raise, win, get, quarry, crush, smelt, calcine, refine, dress, amalgamate,
      manipulate and otherwise treat, prepare, sell and deal in ores, metals and
      other products of mines;
•
to
      carry on business as ship owners, railway proprietors, motor car, lorry
      and coach proprietors, and garage proprietors, carriers and hauliers, bankers,
      storekeepers, wharfingers, cartage, storage, building and general contractors
      and to buy and sell or otherwise deal in real or personal property of any
      kind;
•
to
      carry on business as manufacturers of and dealers in and exporters and importers
      of goods and merchandise of all kinds and merchants generally; and
•
to
      guarantee the payment of premiums on any sinking fund or endowment policy
      or policies taken out by any company having objects similar to the objects
      of the Company.
Directors
Under
    Rio Tinto plc's Articles of Association a director may not vote in respect
    of any proposal in which he or any other person connected with him, has any
    material interest other than by virtue of his interests in shares or debentures
    or other securities of or otherwise in or through the Company, except where
    resolutions:
(a)
indemnify
      him or a third party in respect of obligations incurred by the director
      on behalf of, or for the benefit of, the Company, or in respect of obligations
      of the Company, for which the director has assumed responsibility under
      an indemnity, security or guarantee;
(b)
relate
      to an offer of securities in which he may be interested as a holder of securities
      or as an underwriter;
(c)
concern
      another body corporate in which the director is beneficially interested
      in less than one per cent of the issued shares of any class of shares of
      such a body corporate;
(d)
relate
      to an employee benefit in which the director will share equally with other
      employees; and
(e)
relate
      to liability insurance that the Company is empowered to purchase for the
      benefit of directors of the Company in respect of actions undertaken as
      directors (or officers) of the Company.
Under
      Rio Tinto Limited's Constitution, except where a director is constrained
      by Australian law, a director may be present at a meeting of the board
      while a matter in which the director has a material interest is being considered
    and may vote in respect of that matter.
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The
directors are empowered to exercise all the powers of the Companies to borrow
money, to charge any property or business of the Companies or all or any of their
uncalled capital and to issue debentures or give any other
security for
a debt, liability or obligation of the Companies or of any other person. The
directors shall restrict the borrowings of Rio Tinto plc to the limitation that
the aggregate  amount of all moneys borrowed by the Company and its subsidiaries
shall not exceed an amount equal to one and one half times the Company's
share capital plus aggregate reserves unless sanctioned by an ordinary resolution
of the
Company.
Directors are not required to hold any shares of either Company by way of qualification, but a director is nevertheless entitled to attend and speak at
shareholders' meetings. Nevertheless, as disclosed in the Remuneration report on pages 87 to 97 the Remuneration committee has informed the executive directors that they would be expected to build up a shareholding equal in value to two times salary
over five years.
Directors are required to retire in accordance with statutory age limits. Directors who were elected or re-elected a director in the third year before
each annual general meeting are required to retire by rotation and such further directors (if any) shall retire by rotation as would bring the number retiring by rotation up to one third of the number of directors in office at the date of the notice
of meeting (or, if their number is not a multiple of three, the number nearest to but not greater than one third). These further directors required to retire shall be selected from the other directors subject to retirement by rotation who have been
longest in office since their last re-election and where directors were re-elected on the same day then, unless they otherwise agree amongst themselves, they will be selected by the alphabetical order of their names. In addition any director
appointed by the directors since the last annual general meeting is also required to retire. A retiring director shall be eligible for re-election.
In the absence of an independent quorum, the directors are not competent to vote compensation to themselves or to any members of their body.
Rights attaching to shares
Under
      English law, dividends on shares may only be paid out of profits available
      for distribution, as determined in accordance with generally accepted accounting
      principles and by the relevant law. Shareholders are entitled to receive
      such dividends as may be declared by the directors. The directors may also
      pay shareholders such interim dividends as appear to them to be justified
      by the financial position of the Group.
Any Rio Tinto plc dividend unclaimed after 12 years from the date the dividend was declared, or became due for payment, will be forfeited and returned to
the Company. Any Rio Tinto Limited dividend unclaimed may be invested or otherwise made use of by the board for the benefit of the Company until claimed or otherwise disposed of according to Australian law.
Voting
          rights
Voting
      at any general meeting of shareholders is by a show of hands unless on
      a poll, being a written vote, that has been duly demanded. On a show of
      hands, every shareholder who is present in person or by proxy at a general
      meeting has one vote regardless of the number of shares held. On a poll,
      every shareholder who is present in person or by proxy has one vote for
      every ordinary share or share for which he or she is the holder and, in
      the case of Joint Decisions, the holder of the Special Voting Share has
      one vote for each vote cast by the public shareholders at the parallel
      meeting of shareholders. The voting rights attached to the Special Voting
      Share have been set out on pages 128 to 129. A poll may be demanded by
    any of the following:
•
the
      chairman of the meeting;
•
at
      least five shareholders entitled to vote at the meeting;
•
any
      shareholder or shareholders representing in the aggregate not less than
      one tenth (Rio Tinto plc) or one
twentieth (Rio Tinto Limited) of the total voting rights of
      all shareholders entitled to vote at the meeting;
•
any
      shareholder or shareholders holding shares conferring a right to vote at
      the meeting on which there have been
paid-up sums in the aggregate equal to not less than one tenth
      of the total sum paid up on all the shares conferring
that
      right; or
•
the
      holder of the Special Voting Share.
A
        proxy form will be treated as giving the proxy the authority to demand
        a poll, or to join
others in demanding one.
The
        necessary quorum for a Rio Tinto plc general meeting is three persons
        and for a Rio Tinto Limited general meeting is two persons carrying a
        right to vote upon the business to be transacted, whether present in
    person or by proxy.
Matters
        are transacted at general meetings by the proposing and passing of resolutions,
    of which there are three kinds:
•
an
      ordinary resolution, which includes resolutions for the election of directors,
      the receiving of financial
statements, the cumulative annual payment of dividends, the
      appointment of auditors, the increase of authorised
share
      capital or the grant of authority to allot shares;
•
a
      special resolution, which includes resolutions amending the Company's
      Memorandum and Articles of
Association, disapplying statutory pre-emption rights or changing
      the Company's name; and
•
an
      extraordinary resolution, which includes resolutions modifying the rights
      of any class of the Company's
shares at a meeting of the holders of such class or relating
      to certain matters concerning the Company's winding
up.
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An
ordinary resolution requires the affirmative vote of a majority of the votes
of those persons voting at a meeting at which there is a quorum. Special and
extraordinary resolutions require the affirmative vote of not less than three
fourths
of the persons voting at a meeting at which there is a quorum.
In the case of an equality of votes, whether on a show of hands or on a poll,
the chairman of the meeting is entitled to  cast the deciding vote in addition
to any other vote he may have.
The DLC Merger Sharing Agreement further classifies these three kinds of resolutions into 'Joint Decisions' and 'Class Rights
Actions' as explained on pages 128 to 129.
Annual general meetings must be convened with 21 days advance written notice for Rio Tinto plc and with 28 days for Rio Tinto Limited. Other meetings
must be convened with 21 days advance written notice for the passing of a special resolution and with 14 days for any other resolution, depending on the nature of the business to be transacted. The days of delivery or receipt of the notice are not
included. The notice must specify the nature of the business to be transacted. The board of directors may, if they choose, make arrangements for shareholders who are unable to attend the place of the meeting to participate at other
places.
Variation of Rights
If, at
      any time, the share capital is divided into different classes of shares,
      the rights attached to any class may be varied, subject to the provisions
      of the relevant legislation, with the consent in writing of holders of
      three fourths in value of the shares of that class or upon the adoption
      of an extraordinary resolution passed at a separate meeting of the holders
      of the shares of that class. At every such separate meeting, all of the
      provision of the Articles of Association and Constitution relating to proceedings
      at a general meeting apply, except that the quorum is to be the number
      of persons (which must be two or more) who hold or represent by proxy not
      less than one third in nominal value of the issued shares of the class.
The DLC Merger Sharing Agreement provides for the protection of the public shareholders of both Companies and so any variations of rights would be dealt
with as 'Class Rights Actions' that require the separate approval of the shareholders of both Companies.
Rights
          in a Winding-up
Except
      as the shareholders have agreed or may otherwise agree, upon a winding
    up, the balance of assets available for distribution:
•
after
      the payment of all creditors including certain preferential creditors, whether
      statutorily preferred creditors or
normal creditors; and
•
subject
      to any special rights attaching to any class of shares;
is
        to be distributed among the holders of ordinary shares according to the
        amounts paid-up on the shares held by them. This distribution is generally
        to be made in cash. A liquidator may, however, upon the adoption of an
        extraordinary resolution of the shareholders, divide among the shareholders
    the whole or any part of the assets in kind.
The DLC Merger Sharing Agreement further sets out the rights of ordinary shareholders
in a liquidation as explained on page 129.
Limitations on Voting and Shareholding
There
      are no limitations imposed by either law or Rio Tinto plc's Memorandum
      or Articles of Association or Rio Tinto Limited's Constitution on the right
      of non-residents or foreign persons to hold or vote the ordinary shares
      or ADSs, other than the limitations that would generally apply to all shareholders
      and those that arise from the DLC merger.
There are no restrictions under Rio Tinto plc's Memorandum and Articles of Association or under English law that limit the right of non resident or
foreign owners to hold or vote its shares. Nor are there any restrictions under Rio Tinto Limited's constitution or under Australian law that limit the right of non residents to hold or vote its shares, other than under the Foreign Acquisitions
and Takeovers Act 1975, see Limitations on ownership of shares and merger obligations on pages 129 to 130 for details. A description of the change in control provisions triggered by significant share ownership is also set out on pages 129 to
130.
TAXATION
UK resident individuals
Taxation
          of dividends
Dividends
      carry a tax credit equal to one ninth of the dividend. Individuals who
      are not liable to income tax at the higher rate will have no further tax
      to pay. Higher rate tax payers are liable to tax on UK dividends at 32.5
      per cent which, after taking account of the tax credit, produces a further
tax liability of 25 per cent of the dividend received.
Dividend
            reinvestment plan (DRP)
The taxation
        effect of participation in the DRP will depend on individual circumstances.
        Shareholders will generally be liable for tax on dividends reinvested in
        the DRP on the same basis as if they had received the cash and arranged
        the investment. The dividend should, therefore, be included in the annual
        tax return in the normal way.
The shares acquired should be added to shareholdings at the date and at the net cost shown on the share purchase advice. The actual cost of the shares,
  for Rio Tinto plc shareholders including the stamp duty/stamp duty reserve tax, will form the base cost for capital gains tax purposes.
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Capital
          gains tax
Shareholders
      who have any queries on capital gains tax issues are advised to consult
      their financial adviser.
A leaflet
      which includes details of relevant events since 31 March 1982 and provides
      adjusted values for Rio Tinto plc securities
      as at that date is available from the company secretary.
Australian resident individuals
Taxation
          of dividends
The basis
      of the Australian dividend imputation system is that when Australian resident
      shareholders receive dividends from Rio Tinto Limited, they may be entitled
      to a credit for the Australian tax paid by the Group in respect of that
      income, depending on the tax status of the shareholder.
The application of the system results in the Australian tax paid by the Group being allocated to shareholders by way of franking credits attaching to the
dividends they receive. Such dividends are known as franked dividends. A dividend may be partly or fully franked. The current Rio Tinto Limited dividend is fully franked and the franking credits attached to the dividend are shown in the distribution
statement provided to shareholders.
The extent to which a company can frank a dividend depends on the credit balance in its franking account. Credits to this account can arise in a number
of ways, including when a company pays company tax or receives a franked dividend from another company. The dividend is required to be included in a resident individual shareholder's assessable income. In addition, an amount equal to the
franking credit attached to the franked dividend is also included in the assessable income of the resident individual, who may then be entitled to a rebate of tax equal to the franking credit amount included in their income. Should the franking
credits exceed the tax due, the excess is refunded to the resident individual.
The effect of the dividend imputation system on non resident shareholders is that, to the extent that the dividend is franked, no Australian tax will be
payable and there is an exemption from dividend withholding tax.
A withholding tax is normally levied at the rate of 15 per cent when unfranked dividends are paid to residents of countries with which Australia has a
taxation treaty. Most Western countries have a taxation treaty with Australia. A rate of 30 per cent applies to countries where there is no taxation treaty.
Since 1988, all dividends paid by Rio Tinto Limited have been fully franked. It is the Group's policy to pay fully franked dividends whenever
possible.
Dividend
            reinvestment plan (DRP)
Shareholders
        will generally be liable for tax on dividends reinvested in the DRP on
        the same basis as if they had received the cash and arranged the investment.
        The dividend should therefore be included in the annual tax return as assessable
        income.
The shares acquired should be added to the shareholding at the date of acquisition at the actual cost of the shares, which is the amount of the dividend
applied by the shareholder to acquire shares and any incidental costs associated with the acquisition, including stamp duty, will form part of the cost base or reduced cost base of the shares for capital gains tax purposes.
Capital
              gains tax
The Australian
          capital gains tax legislation is complex. If shareholders have acquired
          shares after 19 September 1985 they may be subject to capital gains tax
          on the disposal of those shares.
Generally, disposal of shares held on capital account would give rise to a capital gain or loss. A capital gain arises when the proceeds on disposal are
    greater than the cost base of shares. A capital loss arises when the proceeds on sale are less than the cost base or reduced cost base. Where a capital gain arises on shares held for at least 12 months, individual, trust and superannuation fund
    shareholders may be eligible for a capital gains tax discount.
Shareholders are advised to seek the advice of an independent taxation consultant on any possible capital gains tax exposure.
US resident individuals
The following
      is a summary of the principal UK tax, Australian tax and US Federal income
      tax consequences of the ownership of Rio Tinto plc ADSs, Rio Tinto plc
      shares, Rio Tinto Limited ADSs and Rio Tinto Limited shares 'the Group's
      ADSs and shares' by a US holder as defined below. It is not intended
      to be a comprehensive description of all the tax considerations that are
      relevant to all classes of taxpayer. Future changes in legislation may
      affect the tax consequences of the ownership of the Group's ADSs and
      shares.
It is based in part on representations by the Group's depositary bank as Depositary for the ADRs evidencing the ADSs and assumes that each
obligation in the deposit agreements will be performed in accordance with its terms.
You are a US holder if you are a beneficial owner of the Group's ADSs and shares and you are: a citizen or resident of the United States, a domestic
corporation, an estate whose income is subject to United States federal income tax regardless of its source, or a trust if a United States court can exercise primary supervision over the trust's administration and one or more United States
persons are authorized to control all substantial decisions of the trust.
Rio
        Tinto 2005
Form
        20-F
134
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This
section applies to US holders only if you hold your shares or ADSs as capital
assets for tax purposes. This section does not apply to you if you are a member
of a special class of holders subject to special rules, including: a dealer in securities, a trader in securities that elects to use a mark-to-market method of accounting for securities holdings, a tax-exempt organization, a life insurance company, a
  person liable for alternative minimum tax, a person that actually or constructively owns 10 per cent or more of our voting stock, a person that holds shares or ADSs as part of a straddle or a hedging or conversion transaction, or a US holder whose
  functional currency is not the US dollar.
This
section is based on the Internal Revenue Code of 1986, as amended, its legislative
history, existing and proposed regulations, published rulings and court decisions,
and on the convention between the United States of America and United Kingdom,
and the convention between the United States of America and Australia which may
affect the tax consequences of the ownership of the Group's ADSs and
  shares. These laws and conventions are subject to change, possibly on a retroactive
basis.
US
        holders should consult their own tax adviser regarding the United States
        federal, state and local and foreign and other tax consequences of owning
        and disposing
of shares and ADSs in their particular circumstances.
For the purposes of the Conventions and of the US Internal Revenue Code of 1986, as amended, (the Code) US holders of ADSs are treated as the owners of
  the underlying shares.
The summary describes the treatment applicable under the Conventions in force at the date of this report.
UK
        taxation of shareholdings in Rio Tinto plc
Taxation of dividends
US holders
      do not suffer deductions of UK withholding tax on dividends paid by Rio
      Tinto plc. Dividends carry a tax credit equal to one ninth of the net dividend,
      or ten per cent of the net dividend plus the tax credit. The tax credit
      is not repayable to US holders.
Capital
            gains
A US
        holder will not normally be liable to UK tax on capital gains realised
        on the disposition of Rio Tinto plc ADSs or shares unless the holder carries
        on a trade, profession or vocation in the UK through a permanent establishment
        in the UK and the ADSs or shares have been used for the purposes of the
        trade, profession or vocation or are acquired, held or used for the purposes
        of such a permanent establishment.
Inheritance
              tax
Under
          the UK Estate Tax Treaty, a US holder, who is domiciled in the US and is
          not a national of the UK, will not be subject to UK inheritance tax upon
          the holder's death or on a transfer during the holder's lifetime
          unless the ADSs and shares form part of the business property of a permanent
          establishment in the UK or pertain to a fixed base situated in the UK used
          in the performance of independent personal services. In the exceptional
          case where ADSs or shares are subject both to UK inheritance tax and to
          US Federal gift or estate tax, the UK Estate Tax Treaty generally provides
          for tax payments to be relieved in accordance with the priority rules set
          out in the Treaty.
Stamp
                duty and stamp duty reserve tax
Transfers
            of Rio Tinto plc ADSs will not be subject to UK stamp duty provided that
            the transfer instrument is not executed in, and at all times remains outside,
            the UK.
Purchases of Rio Tinto plc shares are subject either to stamp duty at a rate of 50 pence per £100 or to stamp duty reserve tax (SDRT) at a rate of
      0.5 per cent. Conversions of Rio Tinto plc shares into Rio Tinto plc ADSs will be subject to additional SDRT at a rate of 1.5 per cent on all transfers to the Depositary or its nominee.
Australian
                  taxation of shareholdings in Rio Tinto Limited
Taxation of dividends
US holders
              are not normally liable to Australian withholding tax on dividends paid
              by Rio Tinto Limited because such dividends are normally fully franked
              under the Australian dividend imputation system, meaning that they are
              paid out of income that has borne Australian income tax. Any unfranked
              dividends would suffer Australian withholding tax which under the Australian
              income tax convention is limited to 15 per cent of the gross dividend.
Capital
                    gains
US holders
                are not normally subject to any Australian tax on the disposal of Rio Tinto
                Limited ADSs or shares unless they have been used in carrying on a trade
                or business wholly or partly through a permanent establishment in Australia,
                or the gain is in the nature of income sourced in Australia.
Gift,
                      estate and inheritance tax
Australia
                  does not impose any gift, estate or inheritance taxes in relation to gifts
                  of shares or upon the death of a shareholder.
Stamp
                        duty
An issue
                    or transfer of Rio Tinto Limited ADSs or a transfer of Rio Tinto Limited
                    shares does not require the payment of Australian stamp duty.
Rio
        Tinto 2005
Form
        20-F
135
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Dividends
Dividends
      on the Group's ADSs and shares will generally be treated as dividend
      income for purposes of US Federal income tax. In the case of Rio Tinto
      Limited, the income will be the net dividend plus, in the event of a dividend
      being subject to withholding tax, the withholding tax.
Dividend
  income will not be eligible for the dividends received deduction allowed to
  US corporations.
Dividends paid by Qualified Foreign Corporations (QFCs) are subject to a maximum rate of income tax of 15 per cent. This maximum rate applies to taxable
years beginning before 1 January 2009. Both Rio Tinto plc and Rio Tinto Limited expect to be QFCs throughout this period. To qualify for the 15 per cent maximum income tax rate on dividends the stock of the QFC must be held for more than 60 days
during the 121 day period beginning on the date which is 60 days before the ex-dividend date.
EXCHANGE CONTROLS
Rio Tinto plc
At present,
        there are no UK foreign exchange controls or other restrictions on the
        import or export of capital or on the payment of dividends to non resident
        holders of Rio Tinto plc shares or that affect the conduct of Rio Tinto
        plc's operations. The Bank of England, however, upholds international
        law and maintains financial sanctions against specified terrorist organisations
        and specific targets related to certain regimes.
There are no restrictions under Rio Tinto plc's memorandum and articles of association or under UK law that limit the right of non resident owners
  to hold or vote Rio Tinto plc's shares.
Rio Tinto Limited
Under
      existing Australian legislation, the Reserve Bank of Australia does not
      restrict the import and export of funds and no permission is required by
      Rio Tinto Limited for the movement of funds into or out of Australia, except
      that restrictions apply to transactions connected with the following: (a)
      supporters of the former government of the Federal Republic of Yugoslavia;
      and (b) ministers and senior officials of the Government of Zimbabwe;
The
      Department of Foreign Affairs and Trade upholds international law that
      prohibit transactions with persons identified as being associated with
      terrorists and their sponsors.
Rio Tinto Limited must also deduct withholding tax from foreign remittances of dividends, to the extent that they are unfranked, and from payments of
interest.
There are no limitations under the constitution of Rio Tinto Limited, on the right of non residents, to acquire or hold or vote Rio Tinto Limited
shares.
However acquisitions of interests in shares in Australian companies by foreign interests are subject to review and approval by the Treasurer of Australia
under the Foreign Acquisitions and Takeovers Act 1975 (the Takeovers Act). The Takeovers Act applies to any acquisition of 15 per cent or more of the outstanding shares of an Australian company or to any transaction that results in one non resident,
or a group of associated non residents, controlling 15 per cent or more of an Australian company. The Takeovers Act also applies to any transaction which results in a group of non associated non residents controlling 40 per cent or more of an
Australian company. Persons who are proposing such acquisitions or transactions are required to notify the Treasurer of their intention. The Treasurer has the power to order divestment in cases where such acquisitions or transactions have already
occurred. The Takeovers Act does not affect the rights of owners whose interests are held in compliance with the legislation.
DOCUMENTS ON DISPLAY
Rio Tinto
      plc and Rio Tinto Limited file reports and other information with the SEC.
      You may read without charge and copy at prescribed rates any document filed
      at the public reference facilities of the SEC's principal office at
      450 Fifth Street, NW, Washington, D.C. 20549, United States of America.
      Please call the SEC at 1-800-SEC-0330 for further information on the operation
      of the public reference facilities.
Rio
          Tinto 2005
Form
          20-F
136
Back to Contents
Item
      11.
Quantitative
    and Qualitative Disclosures about Market Risk
The Rio
      Tinto Group's policies for currency, interest rate and commodity price
      exposures, and the use of derivative financial instruments are discussed
      in the Financial review on pages 47 to 51. In addition, the Group's
      quantitative and qualitative disclosures about market risk are set out
      in Note 35 to the 2005 Financial statements. The discussion regarding market
      risk contains certain forward looking statements and attention is drawn
      to the Cautionary statement on page 8.
Item
      12.
Description
    of Securities other than Equity Securities
Not applicable.
PART
  II
Item
      13.
Defaults,
          Dividend Arrearages and Delinquencies
There
      are no defaults, dividend arrearages or delinquencies.
Item
      14.
Material
    Modifications to the Rights of Security Holders and Use of Proceeds
There
      are no material modifications to the rights of security holders.
Item
      15.
Controls
    and Procedures
In designing
      and evaluating the disclosure controls and procedures of each of Rio Tinto
      plc and Rio Tinto Limited, the common management of each of Rio Tinto plc
      and Rio Tinto Limited, including their common chief executive and finance
      director, recognised that any controls and procedures, no matter how well
      designed and operated, can provide only reasonable assurance of achieving
      the desired control objectives, and the management of each of Rio Tinto
      plc and Rio Tinto Limited necessarily was required to apply its judgement
      in evaluating the cost-benefit relationship of possible controls and procedures.
      Because of the inherent limitations in all control systems, no evaluation
      of controls can provide absolute assurance that all control issues and
      instances of fraud, if any, within each of Rio Tinto plc and Rio Tinto
      Limited have been detected.
The common management of each of Rio Tinto plc and Rio Tinto Limited with the participation of their common chief executive and finance director have
evaluated the effectiveness of the design and operation of its disclosure controls and procedures as of the period covered by the
Annual report
. Based on that evaluation, the common chief executive and finance director of each of Rio Tinto plc and Rio Tinto Limited have concluded that these disclosure controls and procedures are
effective at the reasonable assurance level.
There were no significant changes in the internal controls or in other factors that could significantly affect internal controls of each of Rio Tinto plc
and Rio Tinto Limited subsequent to the date of their most recent evaluation.
Item
      16A.
Audit
          Committee
Financial Expert
See Corporate
      governance on page 119 for information regarding the identification of
      the
Audit
      committee
financial
      expert.
Item
      16B.
Code
          of
Ethics
The
        way we work
,
        Rio Tinto's statement of business practice, summarises the Group's
        principles and policies for all directors and employees.
The way we work
and the supplementary guidance documents are
discussed more fully under Corporate governance on pages 113 to 119 and in Group society and environment on pages 76 to 80. They can be viewed on Rio Tinto's website: www.riotinto.com and will be provided to any person without charge upon
written request received by one the company secretaries.
Rio
        Tinto 2005
Form
        20-F
137
Back to Contents
Item
      16C.
Principal
    Accountant Fees and Services
Auditors' remuneration
      including audit fees, audit related fees, further assurance services, taxation
      services and all other fees have been dealt with in Note 44 of the 2005
      Financial statements.
Rio Tinto has adopted policies designed to uphold the independence of the Group's principal auditors by prohibiting their engagement to provide a
range of accounting and other professional services that might compromise their appointment as independent auditors. The engagement of the Group's principal auditors to provide statutory audit services, certain other assurance services, tax
services and certain limited other services are pre approved. Any engagement of the Group's principal auditors to provide other permitted services is subject to the specific approval of the
Audit committee
or its chairman.
Prior to the commencement of each financial year the Group's Finance director and its principal auditors submit to the
Audit committee
a schedule of the types of services that are expected to be performed during the following year
for its approval. The
Audit committee
may impose a US dollar limit on the total value of
other permitted services that can be provided. Any non audit service provided by the Group's principal auditors, where the expected fee exceeds a pre determined level, must be subject to the Group's normal tender procedures.
However, in exceptional circumstances the Finance director is authorised to engage the Group's principal auditors to provide such services without
going to tender, but if the fees are expected to exceed $250,000 then the chairman of the audit committee must approve the engagement.
The
Audit committee
adopted policies for the pre approval of permitted services provided by the Group's principal auditors during 2003. All of the engagements for services provided by the Group's principal
auditors since the adoption of these policies were either within the pre approval policies or approved by the
Audit committee
.
Item
      16D.
Exemptions
    from the Listing Standards for Audit Committees
Not applicable.
Item
      16E.
Purchases
    of Equity Securities by the Issuer and Affiliated Purchasers
Rio
      Tinto plc
Rio
      Tinto Limited
Period
(a)
      Total
number
      of
shares
purchased
(b)
      Average
price
paid
      per share
(c)
      Total number
of
      shares
purchased
      as part
of
      publicly
announced
      plans
or
      programmes
(a)
      Total
number
      of
shares
purchased
(b)
      Average
price
paid
      per share
(c)
      Total number
of
      shares
purchased
      as part
of
      publicly
announced
      plans
or
      programmes
(d)
      Approximate
dollar
      value of
shares
      that may
yet
      be purchased
under
      the plans
or
      programmes
US$
US$
US$m
2005
1
      Jan to 31 Jan
—
—
—
—
—
—
—
1
      Feb to 28 Feb
—
—
—
—
—
—
1,500
1
      Mar to 31 Mar
—
—
—
—
—
—
1,500
1
      Apr to 30 Apr
317,985
32.88
—
581,760
35.25
—
1,500
1
      May to 31 May
—
—
—
27,294,139
28.36
27,294,139
726
1
      Jun to 30 Jun
—
—
—
—
—
—
726
1
      Jul to 31 Jul
—
—
—
—
—
—
726
1
      Aug to 31 Aug
—
—
—
—
—
—
726
1
      Sep to 30 Sep
435,855
35.47
—
501,783
39.40
—
726
1
      Oct to 31 Oct
1,100,000
37.88
1,100,000
—
—
—
684
1
      Nov to 30 Nov
950,000
39.55
950,000
—
—
—
647
1
      Dec to 31 Dec
550,000
43.59
550,000
—
—
—
623
Total
3,353,840
38.50
2,600,000
28,377,682
28.70
27,294,139
2006
1
      Jan to 31 Jan
1,965,000
48.17
1,965,000
118,728
53.69
—
528
1
      Feb to 28 Feb
4,200,000
48.65
4,200,000
403,712
54.74
—
2,296
1
      Mar to 31 Mar
3,710,000
46.83
3,710,000
348,943
52.61
—
2,122
1
      Apr to 30 Apr
2,749,659
55.64
1,750,000
1,229,034
60.73
—
2,025
1
      May to 31 May
4,750,000
55.25
4,750,000
74,764
63.64
—
1,763
Total
17,374,659
50.84
16,375,000
2,175,181
58.03
—
Rio
        Tinto 2005
Form
        20-F
138
Back to Contents
Notes
1.
Rio
      Tinto plc ordinary shares of 10p each; Rio Tinto Limited shares
2.
On
      3 February 2005 the Group announced, subject to market conditions, an intention
      to return up to US$1,500 million of capital to shareholders during the
      course of 2005 and 2006, and that this would include an off-market buy back
      of Rio Tinto Limited shares through a tender process.
3.
At
      the annual general meetings held during April 2005 the shareholders:
•
renewed
      the general authority to buy back up to 106.8 million of Rio Tinto plc's
      ordinary shares, representing approximately ten per cent of its issued share
      capital;
•
approved
      Rio Tinto Limited undertaking one or more off-market buy backs of its shares,
      through a tender process at a discount of between eight to 14 per cent under
      which part of the buy back price would be treated as a fully franked dividend
      for Australian tax purposes, during the 12 months following the approval,
      provided that any Rio Tinto Limited shares bought back under any such buy
      back tender plus any Rio Tinto Limited shares bought back on-market would
      not exceed ten per cent of the minimum number of publicly-held Rio Tinto
      Limited shares on issue during that 12 month period;
•
approved
      the terms of an off-market buy back of Rio Tinto Limited shares held (indirectly)
      by Rio Tinto plc so that its percentage interest would not increase as a
      result of any off-market buy back tender from the public;
•
renewed
      the shareholder authorities to buy back up to all the Rio Tinto Limited
      shares held (indirectly) by Rio Tinto plc and to buy back Rio Tinto Limited
      ordinary shares on-market, but in the case of any on-market buy backs only
      to the extent that such buy backs, plus any buy backs under any off-market
      buy back tender, would not in any 12 month period exceed ten per cent of
      the minimum number of publicly-held shares on issue in Rio Tinto Limited
      during that 12 month period.
4.
At
      the annual general meetings held during April and May 2006 the shareholders:
•
renewed
      the general authority to buy back up to 106.5 million of Rio Tinto plc's
      ordinary shares, representing approximately ten per cent of its issued share
      capital;
•
approved
      buy backs by Rio Tinto Limited under off-market buy back tenders and / or
      on-market over the 12 months following approval, provided that the number
      bought back did not exceed 28.5 million shares;
•
renewed
      the shareholder authorities to buy back up to all the Rio Tinto Limited
      shares held (indirectly) by Rio Tinto plc.
5.
On
         9 May 2005, Rio Tinto Limited bought back 27,294,139 shares, representing

      8.7 per cent of its publicly held issued share capital, under the off-market
         tender and 16,367,000 shares held (indirectly) by Rio Tinto plc. All
        of
      these shares were purchased at a price of A$36.70 (US$28.36)
      per share representing a 14 per cent discount to the relevant market price
      and were cancelled.
6.
During
      2005 Rio Tinto plc bought back 2,600,000 ordinary shares on the open market
      for an aggregate consideration of $103.2 million and held these as treasury
      shares.
7.
During
      2005, Rio Tinto plc purchased 753,840 ordinary shares and Rio Tinto Limited
      purchased 1,083,543 shares on the open market to satisfy obligations to
      shareholders under the dividend reinvestment plans.
8.
On
      2 February 2006 the Group announced an intention to return up to US$4,000
      million of capital to shareholders, of which US$1,500 million would
      be paid out as a special dividend and, subject to market conditions, the
      remaining US$2,500 million of capital to be applied to buy backs of
      either Rio Tinto Limited or Rio Tinto plc shares. This would replace the
      US$528 million remainder of the initiative announced on 3 February 2005.
9.
Between
      1 January 2006 and 31 May 2006 Rio Tinto plc bought back 16,375,000 ordinary
      shares on the open market for an aggregate consideration of $832.6 million
      and held them as treasury shares.
10.
Between
      1 January 2006 and 31 May 2006 Rio Tinto Limited purchased 1,258,673 shares
      on the open market for an aggregate consideration of $70.4 million to
      satisfy obligations on the exercise of options under employee share plans,
      but these purchases were not considered to be under any publicly announced
      programme.
11.
Between
      1 January 2006 and 31 May 2006 Rio Tinto plc purchased 999,659 ordinary
      shares and Rio Tinto Limited purchased 916,508 shares on the open market
      to satisfy obligations to shareholders under the dividend reinvestment plans.
12.
The
      average prices paid have been translated into US dollars at the exchange
      rate on the settlement date.
PART III
Item
      17
.
Financial
    Statements
Not applicable.
Item
      18.
Financial
    Statements
The 2005 Annual report and financial statements and the 2005 Financial statements including reconciliation to US accounting principles of the Rio Tinto Group ("the Group")
and of the Rio Tinto plc and Rio Tinto Limited parts of the Group were furnished on Form 6-K for the month of March 2006.
The 2005 Financial statements including reconciliation to US accounting principles of the Rio Tinto Group ("the Group") and of the Rio Tinto
plc and Rio Tinto Limited parts of the Group are incorporated by reference to Exhibit 99.2 of Rio Tinto plc's Form 6-K for the month of March 2006 furnished on 6 April 2006, File No. 1-10533)
Rio
        Tinto 2005
Form
        20-F
139
Back to Contents
Item
      19.
Exhibits
Exhibits
      marked "*" have been filed with this annual report on Form 20-F
  and other exhibits have been incorporated by reference as indicated.
Index
Exhibit
Number
Description
1.1
Memorandum
      and Articles of Association of Rio Tinto plc (adopted by special resolution
      passed on 11 April
2002
      and amended on 14 April 2005) (incorporated by reference to Exhibit 4.23
      of Rio Tinto plc's Annual report
on
      Form 20-F for the financial year ended 31 December 2004, File No. 1-10533)
1.2
Constitution
      of Rio Tinto Limited (ACN 004 458 404) (as adopted by special resolution
      passed on 24 May 2000
and
      amended by special resolution on 18 April 2002 and 29 April 2005) (incorporated
      by reference to Exhibit
4.23
      of Rio Tinto plc's Annual report on Form 20-F for the financial year ended
      31 December 2004, File No. 1-
10533)
3.1
DLC
      Merger Implementation Agreement, dated 3 November 1995 between CRA Limited
      and The RTZ
Corporation
      PLC relating to the implementation of the DLC merger (incorporated by reference
      to Exhibit 2.1 of
Rio
      Tinto plc's Annual report on Form 20-F for the financial year ended 31 December
      1995, File No. 1-10533)
3.2
DLC
      Merger Sharing Agreement, dated 21 December 1995 and amended on 29 April
      2005 between CRA
Limited
      and The RTZ Corporation PLC relating to the ongoing relationship between
      CRA and RTZ following
the
      DLC merger (incorporated by reference to Exhibit 4.23 of Rio Tinto plc's
      Annual report on Form 20-F for the
financial
      year ended 31 December 2004, File No. 1-10533)
3.3
RTZ
      Shareholder Voting Agreement, dated 21 December 1995 between The RTZ Corporation
      PLC, RTZ
Shareholder
      SVC Pty. Limited, CRA Limited, R.T.Z. Australian Holdings Limited and The
      Law Debenture Trust
Corporation
      p.l.c. (incorporated by reference to Exhibit 2.3 of Rio Tinto plc's Annual
      report on Form 20-F for the
financial
      year ended 31 December 1995, File No. 1-10533)
3.4
CRA
      Shareholder Voting Agreement, dated 21 December 1995 between CRA Limited,
      CRA Shareholder SVC
Limited,
      The RTZ Corporation PLC and The Law Debenture Trust Corporation p.l.c.,
      relating to the RTZ
Special
      Voting Share (incorporated by reference to Exhibit 2.4 of Rio Tinto plc's
      Annual report on Form 20-F for
the
      financial year ended 31 December 1995, File No. 1-10533)
4.01
Letter
      dated 1 January 1992 to Mr R Adams about supplementary pension arrangements
      (incorporated by
reference
      to Exhibit 4.23 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31
December
      2000, File No. 1-10533)
4.02
Supplementary
      letter dated 1 January 1992 to Mr R Adams about pension arrangements (incorporated
      by
reference
      to Exhibit 4.24 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31
December
      2000, File No. 1-10533)
4.03
Letter
      dated 22 November 1994 to Mr R Adams about supplementary pension arrangements
      (incorporated by
reference
      to Exhibit 4.29 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31
December
      2000, File No. 1-10533)
4.04
Letter
      dated 20 January 1997 to Mr R Adams about directors' pension arrangements
      (incorporated by reference to
Exhibit
      4.32 of Rio Tinto plc's Annual report on Form 20-F for the financial year
      ended 31 December 2001, File
No.
      1-10533).
4.05
Service
      Agreement dated 15 April 2003 between Mr R Adams and Rio Tinto London Limited
      (incorporated by
reference
      to Exhibit 4.30 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended
31
      December 2002, File No. 1-10533)
4.06
Memorandum
      effective 1 March 2004 to Service Agreement dated 15 April 2003 between
      Mr R Adams and Rio
Tinto
      London Limited (incorporated by reference to Exhibit 4.06 of Rio Tinto plc's
      Annual report on Form 20-F
for
      the financial year ended 31 December 2003, File No. 1-10533)
4.07*
Service
      Agreement dated 12 April 2006 between Mr T Albanese and Rio Tinto London
      Limited
4.08
Service
      Agreement dated 30 March 2004 between Mr R L Clifford and Rio Tinto Limited
      (incorporated by
reference
      to Exhibit 4.23 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended 31
December
      2004, File No. 1-10533)
4.09
Supplemental
      letter dated 30 March 2004 to Service Agreement dated 30 March 2004 between
      Mr R L Clifford
and
      Rio Tinto Limited (incorporated by reference to Exhibit 4.23 of Rio Tinto
      plc's Annual report on Form 20-F
for
      the financial year ended 31 December 2004, File No. 1-10533)
4.10
Memorandum
      effective 1 March 2005 to Service Agreement dated 30 March 2004 between
      Mr R L Clifford and
Rio
      Tinto Limited (incorporated by reference to Exhibit 4.23 of Rio Tinto plc's
      Annual report on Form 20-F for
the
      financial year ended 31 December 2004, File No. 1-10533)
4.11*
Memorandum
      effective 1 March 2006 to Service Agreement dated 30 March 2004 between
      Mr R L Clifford and
Rio
      Tinto Limited
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        Tinto 2005
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4.12
Service
      Agreement dated 19 June 2002 between Mr G R Elliott and Rio Tinto London
      Limited (incorporated by
reference
      to Exhibit 4.31 of Rio Tinto plc's Annual report on Form 20-F for the financial
      year ended
31
      December 2002, File No. 1-10533)
4.13
Memorandum
      effective 1 March 2003 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio
Tinto
      Limited (incorporated by reference to Exhibit 4.32 of Rio Tinto plc's Annual
      report on Form 20-F for the
financial
      year ended 31 December 2002, File No. 1-10533)
4.14
Memorandum
      effective 1 March 2004 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio
Tinto
      London Limited (incorporated by reference to Exhibit 4.32 of Rio Tinto plc's
      Annual report on Form 20-F
for
      the financial year ended 31 December 2002, File No. 1-10533)
4.15
Memorandum
      effective 1 March 2005 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio
Tinto
      London Limited (incorporated by reference to Exhibit 4.23 of Rio Tinto plc's
      Annual report on Form 20-F
for
      the financial year ended 31 December 2004, File No. 1-10533)
4.16*
Memorandum
      effective 1 March 2006 to Service Agreement dated 19 June 2002 between Mr
      G R Elliott and Rio
Tinto
      London Limited
4.17
Mining
      Companies Comparative Plan (incorporated by reference to Exhibit 4.65 of
      Rio Tinto plc's Annual report
on
      Form 20-F for the financial year ended 31 December 2000, File No. 1-10533)
4.18
Share
      Option Plan (incorporated by reference to Exhibit 4.66 of Rio Tinto plc's
      Annual report on Form 20-F for
the
      financial year ended 31 December 2000, File No. 1-10533)
4.19
Medical
      expenses plan (incorporated by reference to Exhibit 4.67 of Rio Tinto plc's
      Annual report on Form 20-F
for
      the financial year ended 31 December 2000, File No. 1-10533)
4.20
Pension
      plan (incorporated by reference to Exhibit 4.68 of Rio Tinto plc's Annual
      report on Form 20-F for the
financial
      year ended 31 December 2000, File No. 1-10533)
8.1*
List
      of subsidiary companies.
12.1*
Certifications
      pursuant to Rule 13a-14(a) of the Exchange Act.
13.1*
Certifications
      furnished pursuant to Rule 13a-14(b) of the Exchange Act (such certificates
      are not deemed filed
for
      purpose of Section 18 of the Exchange Act and are not incorporated by reference
      with any filing under the
Securities
      Act).
15.1*
Consent
      of Independent Accountants.
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SIGNATURE
The Registrants hereby certify that they meet all of the requirements for filing
  on Form 20-F and that they have duly caused and authorised the undersigned to
  sign this Annual Report on their behalf.
Rio
      Tinto plc
Rio
      Tinto Limited
(Registrant)
(Registrant)
/s/
      Anette Lawless
/s/
      Anette Lawless
Name:
Anette
             Lawless
Name:
Anette
           Lawless
Title:
      Secretary
Title:
        Assistant  Secretary
Date:
      23 June 2006
Date:
      23 June 2006
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GLOSSARY
NON MINING DEFINITIONS
Throughout this document, the collective expressions
  Rio Tinto, Rio Tinto Group and Group are used for convenience only. Depending
  on the context in which they are used, they mean Rio Tinto plc and/or Rio Tinto
  Limited and/or one or more of the individual companies in which Rio Tinto plc
  and/or Rio Tinto Limited directly or indirectly own investments, all of which
  are separate and distinct legal entities.
Unless the context indicates otherwise, the following
    terms have the meanings shown below:
Adjusted earnings
An
      additional measure of earnings reported by Rio Tinto with its UK GAAP results
      which excludes exceptional items of such magnitude that their exclusion
      is necessary to reflect the underlying performance of the Group.
ADR
American
      Depositary Receipt evidencing American Depositary Shares (ADS).
Australian dollars
Australian
      currency. Abbreviates to A$
Australian GAAP
Generally
      accepted accounting principles in Australia.
A IFRS
The
      Australian equivalent of International Financial Reporting Standards.
Billion
One
      thousand million.
Canadian dollars
Canadian
      currency. Abbreviates to C$
Company / Companies
Rio
      Tinto plc and/or Rio Tinto Limited. As the context so requires.
DLC merger
Dual
      listed companies merger (1995).
EU IFRS
International
      Financial Reporting Standards as adopted by the European Union.
IFRS
International
      Financial Reporting Standards
LBMA
London
      Bullion Market Association
LME
London
      Metal Exchange.
New Zealand dollars
New
      Zealand currency. Abbreviates to NZ$
Pounds sterling
UK
      currency. Abbreviates to £, pence or p.
Public shareholders
The
      holders of Rio Tinto plc shares that are not companies in the Rio Tinto
      Limited Group and the holders of Rio Tinto Limited shares that are not companies
      in the Rio Tinto plc Group.
Rand
South
      African currency. Abbreviates to R.
Rio Tinto Limited
Rio
      Tinto Limited, and, where the context permits, its subsidiaries, jointly
      controlled entities and associated companies.
Rio Tinto Limited ADS
An
      American Depositary Share representing the right to receive four Rio Tinto
      Limited shares.
Rio Tinto Limited Group
Rio
      Tinto Limited and its subsidiaries, jointly controlled entities and associated
      companies.
Rio Tinto Limited
shareholders
The
      holders of Rio Tinto Limited shares.
Rio Tinto Limited
The
      agreement, dated 21 December 1995, between Rio Tinto plc, Rio Tinto Limited,
      RTL Shareholder
Shareholder Voting
Agreement
SVC
      Limited and the Law Debenture Trust Corporation p.l.c. relating to the voting
      rights of the Rio Tinto plc Special Voting Share at meetings of shareholders
      of Rio Tinto plc.
Rio Tinto Limited shares
The
      ordinary shares in Rio Tinto Limited.
Rio Tinto Limited /
RTL
DLC Dividend Share
The
      DLC Dividend Share in Rio Tinto Limited.
Rio Tinto Limited /
RTL
Special Voting Share
The
      Special Voting Share in Rio Tinto Limited.
Rio Tinto plc
Rio
      Tinto plc and its subsidiaries, jointly controlled entities and associated
      companies.
Rio Tinto plc ADS
An
      American Depositary Share representing the right to receive four Rio Tinto
      plc ordinary shares.
Rio Tinto plc Group
Rio
      Tinto plc and its subsidiaries, jointly controlled entities and associated
      companies.
Rio Tinto plc ordinary shares
The
      ordinary shares of 10p each in Rio Tinto plc.
Rio Tinto plc shareholders
The
      holders of Rio Tinto plc shares.
Rio Tinto Shareholder Voting
      Agreement
The
      agreement, dated 21 December 1995, between Rio Tinto plc, Rio Tinto Australian
	     Holdings Limited, RTP Shareholder SVC Pty Limited, Rio Tinto Limited
	    and
      the Law Debenture Trust Corporation p.l.c. relating to the voting rights
	     of the Rio Tinto Limited shares held by the Rio Tinto plc group and
	    the
      Rio Tinto Limited Special Voting Share at meetings of Rio Tinto Limited
    shareholders.
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Rio
      Tinto plc shares
Rio
      Tinto plc ordinary shares.
Rio
      Tinto plc /
RTP
DLC Dividend Share
The
      DLC Dividend Share of 10p in Rio Tinto plc.
Rio
      Tinto plc /
RTP
Special Voting Share
The
      Special Voting Share of 10p in Rio Tinto plc.
Share
      / shares
Rio
      Tinto Limited shares or Rio Tinto plc ordinary shares, as the context requires.
Sharing
      Agreement
The
      agreement, dated 21 December 1995, as amended between Rio Tinto Limited
      and Rio Tinto plc relating to the regulation of the relationship between
      Rio Tinto Limited and Rio Tinto plc following the DLC merger.
UK
      GAAP
Generally
      accepted accounting principles in the UK.
US
      dollars
United
      States currency. Abbreviates to dollars, $ or US$ and US cents or
      USc.
US
      GAAP
Generally
      accepted accounting principles in the United States.
MINING AND TECHNICAL DEFINITIONS
Alumina
Aluminium
      oxide. It is extracted from bauxite in a chemical refining process and is
      subsequently the principal raw material in the electro-chemical process
      by which aluminium is produced.
Anode
      and cathode copper
At
      the final stage of the smelting of copper concentrates, the copper is cast
      into specially shaped slabs called anodes for subsequent refining to produce
      refined cathode copper.
Bauxite
Mainly
      hydrated aluminium oxides (Al
2
O
3
.2H
2
O).
      Principal ore of alumina, the raw material from which aluminium is made.
Beneficiated
      bauxite
Bauxite
      ore that has been treated to remove waste material to improve its physical
      or chemical characteristics.
Bioleaching
The
      deliberate use of bacteria to speed the chemical release of metals from
      ores.
Block
      caving
An
      underground bulk mining method. It involves undercutting the orebody to
      induce ore fracture and collapse by gravity. The broken ore is recovered
      through draw points below.
Borates
A generic
      term for mineral compounds which contain boron and oxygen.
Cathode
      copper
Refined
      copper produced by electrolytic refining of impure copper or by electro-winning.
Classification
Separating
      crushed and ground ore into portions of different size particles.
Coking
      coal.
Also
      referred to as metallurgical coal. By virtue of its carbonisation properties,
      it is used in the manufacture of coke, which is used in the steel making
      process.
Concentrate
The
      product of a physical concentration process, such as flotation or gravity
      concentration, which involves separating ore minerals from unwanted waste
      rock. Concentrates require subsequent processing (such as smelting or leaching)
      to break down or dissolve the ore minerals and obtain the desired elements,
      usually metals.
Cutoff
      grade
The
      lowest grade of mineralised material considered economic to process. It
      is used in the calculation of the quantity of ore present in a given deposit.
Doré
A precious
      metal alloy which is produced by smelting. Doré is an intermediate
      product which is subsequently refined to produce pure gold and silver.
DWT
Dead
      weight tons is the combined weight in long tons (2,240 pounds weight) of
      cargo, fuel and fresh water that a ship can carry.
Flotation
A method
      of separating finely ground minerals using a froth created in water by specific
      reagents. In the flotation process certain mineral particles are induced
      to float by becoming attached to bubbles of froth whereas others, usually
      unwanted, sink.
FOB
Free
      on board.
Grade
The
      proportion of metal or mineral present in ore, or any other host material,
      expressed in this document as per cent, grammes per tonne or ounces per
      ton.
Head
      grade
The
      average grade of ore delivered to the mill.
Ilmenite
Mineral
      composed of iron, titanium and oxygen.
Ore
A rock
      from which a metal(s) or mineral(s) can be economically and legally extracted.
Ore
      milled
The
      quantity of ore processed.
Ore
      hoisted
The
      quantity of ore which is removed from an underground mine for processing.
Ore
      reserve
That
      part of a mineral deposit which could be economically and legally extracted
      or produced at the time of the reserve determination.
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Pressure
      oxidation
A method
      of treating sulphide ores. In the case of refractory gold ores, the object
      is to oxidise the sulphides to sulphates and hence liberate the gold for
      subsequent cyanide leaching. The technique involves reaction of the ore
      with sulphuric acid under pressure in the presence of oxygen gas.
Probable
      ore reserves
Reserves
      for which quantity and grade and/or quality are computed from information
      similar to that used for proven reserves, but the sites for inspection,
      sampling and measurement are farther apart or are otherwise less adequately
      spaced. The degree of assurance, although lower than that for proven reserves,
      is high enough to assume continuity between points of observation.
Proven
      ore reserves
Reserves
      for which (a) quantity is computed from dimensions revealed in outcrops,
      trenches, workings or drill holes; grade and/or quality are computed from
      the results of detailed sampling and (b) the sites for inspection, sampling
      and measurement are spaced so closely and the geologic character is so well
      defined that size, shape, depth and mineral content of reserves are well
      established.
Rock
      mined
The
      quantity of ore and waste rock excavated from the mine. In this document,
      the term is only applied to surface mining operations.
Rutile
A mineral
      composed of titanium and oxygen (TiO
2
).
Steam
      coal
Also
      referred to as steaming coal, thermal coal or energy coal. It is used as
      a fuel source in electrical power generation, cement manufacture and various
      industrial applications.
Stripping
      ratio
The
      tonnes of waste material which must be removed to allow the mining of one
      tonne of ore.
Solvent
      extraction and electrowinning (SX-EW)
Processes
      for extracting metal from an ore and producing pure metal. First the metal
      is leached into solution; the resulting solution is then purified in the
      solvent extraction process; the solution is then treated in an electro-chemical
      process (electro-winning) to recover cathode copper.
Tailing
The
      rock wastes which are rejected from a concentrating process after the recoverable
      valuable minerals have been extracted.
Titanium
      dioxide
feedstock
A feedstock
      rich in titanium dioxide, produced, in Rio Tinto's case, by smelting
      ores containing titanium minerals.
Zircon
Zirconium
      mineral (ZrSiO
4
).
CONVERSION
      OF WEIGHTS AND MEASURES
1 troy
      ounce = 31.1 grams
1 kilogram
      = 32.15 troy ounces
1 kilogram
      = 2.2046 pounds
1 metric
      tonne = 1,000 kilograms
1 metric
      tonne = 2,204.6 pounds
1 metric
      tonne = 1.1023 short tons
1 short
      ton = 2,000 pounds
1 long
      ton = 2,240 pounds
1 gram
      per metric tonne = 0.02917 troy ounces per short ton
1 gram
      per metric tonne = 0.03215 troy ounces per metric tonne
1 kilometre
      = 0.6214 miles
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EXCHANGE RATES
The following table shows, for the periods and dates indicated, certain information regarding the exchange rates for the pound sterling and the Australian dollar, based on the Noon
  Buying Rates for pounds sterling and Australian dollars expressed in US dollars per £1 and per A$1.00.
Pounds
    sterling
Australian
      dollars
Year
    ended 31 December
Period
Average
High
Low
Year
      ended 31 December
Period
Average
High
Low
end
rate
end
rate
2005
1.73
1.82
1.93
1.71
2005
0.734
0.763
0.799
0.727
2004
1.93
1.83
1.95
1.76
2004
0.783
0.737
0.798
0.686
2003
1.78
1.63
1.79
1.55
2003
0.749
0.648
0.752
0.562
2002
1.61
1.50
1.61
1.41
2002
0.563
0.544
0.575
0.506
2001
1.45
1.44
1.50
1.37
2001
0.512
0.517
0.571
0.483
Note
The
        Noon Buying Rate on such dates differed slightly from the rates used
        in the preparation of
Rio Tinto's financial statements as of such date. No representation is made
that pound sterling and Australian dollar amounts have been, could have been
or could be converted into dollars at the Noon Buying Rate on such dates or at
any other dates.
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