BHP BILLITON (BHP $72.23, rated Neutral) COMPANY’S ESTIMATE $3.7 BILLION SYNERGIES FROM RIO TINTO (RTP $441,14, rated Overweight) COMBINATION MUCH LARGER THAN $1 BILLION-PLUS WE ESTIMATED LAST MAY 10TH 11/12/2007

BHP BILLITON (BHP $72.23, rated Neutral) COMPANY’S ESTIMATE $3.7 BILLION
SYNERGIES FROM RIO TINTO (RTP $441,14, rated Overweight) COMBINATION
MUCH LARGER THAN $1 BILLION-PLUS WE ESTIMATED LAST MAY 10TH 11/12/2007