Orica Names New Directors

1st May, 1998

The Board of Orica Limited (formerly ICI Australia) today announced the appointment of Mr Anthony (Tony) Larkin as Executive Director Finance and Mr Peter Clinch as Executive Director.

Mr Larkin is currently Group Treasurer of BHP Ltd. His career with BHP has included senior finance positions in the steel and minerals businesses and various senior corporate roles. From 1993 to 1997 he was seconded to Fosters Brewing Group as Senior Vice President Finance and Investor Relations. He had previously also spent time with BHP Utah Minerals International in the USA as Senior Vice President, Finance and Treasurer.

Mr Larkin succeeds Mr Helmut Radder who will return to ICI PLC in June after a four year secondment.

Mr Clinch a former Director of ICI Australia has also been appointed Chief Executive Officer of Orica's international explosives business with effect from completion of Orica's acquisition of ICI PLC explosives interests today. He had previously been CEO of ICI PLC's explosives operations. He will continue to be based in Toronto, Canada.

Orica Chairman, Dr Ben Lochtenberg said: "We are delighted to have someone with the relevant and extensive experience of Tony Larkin joining the Orica team. I am sure that he will prove to be a worthy successor to Helmut Radder, who has contributed enormously to establishing Orica as a strong, independent company.

"In Peter Clinch, we not only have an experienced and very capable CEO of our new explosives business, but also a Director with the knowledge and acumen to help drive the whole company forward," Dr Lochtenberg said.

Mr Larkin will take up his position from 1 June.