Rio Tinto Increases Off-Market Buy-Back Tender to AUD$1 Billion

Rio Tinto Limited has announced the successful result of its off-market share buy-back (the "Buy-Back"). A total of approximately 27.3 million shares, representing 8.7 per cent of Rio Tinto Limited’s publicly held issued share capital (2.0 per cent of the Rio Tinto Group ), were bought back under the Buy-Back at A$36.70 per share at a cost of approximately A$1 billion (US$780 million).

The buy-back price of A$36.70 per share represents a 14 per cent discount to the relevant volume weighted average price of Rio Tinto Limited shares sold on the ASX over the five trading days up to and including the closing date of the Buy-Back . It also represents a discount of 15.7 per cent to the closing price for Rio Tinto Limited shares on 11 May 2005, of A$43.63.

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