VALE (RIO, $10.65, Target $32, OVERWEIGHT rating maintained) NEGATIVE TAX RATE AND PEAK IRON ORE QUARTER DRIVE RESULTS, BUT ESTIMATE FOURTH-QUARTER DROPS TO $0.40 PER SHARE 10/24/2008

VALE (RIO, $10.65, Target $32, OVERWEIGHT rating maintained) NEGATIVE
TAX RATE AND PEAK IRON ORE QUARTER DRIVE RESULTS, BUT
ESTIMATE FOURTH-QUARTER DROPS TO $0.40 PER SHARE 10/24/2008