Exhibit 99.1

James Hardie Logo

     
15 January 2003   James Hardie Industries N.V.
 ARBN 097 829 895
Incorporated in The Netherlands
The liability of members is limited
     
    Level 3, 22 Pitt Street
Sydney NSW 2000 Australia
     
The Manager
Company Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
SYDNEY NSW 2000		   Telephone (02) 8274 5274
Fax (02) 8274 5217
 
GPO Box 3935
Sydney NSW 2001 Australia
     

Dear Sir

The Company’s interim dividend of US 2.5 cents per share announced on 14 November 2002 converts to 4.28 Australian cents per CUFS.

The interim dividend is payable in Australian currency on 30 January 2003 to CUFS holders registered at the 14 January 2003 record date.

American Depositary Receipt holders will receive payment in US currency.

Dutch withholding tax will be deducted from the interim dividend.

Yours faithfully

AT Kneeshaw Signature

A T Kneeshaw
Manager Secretarial Services