BHP BILLITON (BHP $79.78, cut to Neutral from OVERWEIGHT, $76 down from $89 Target per ADS) STRONGER A$ AND OTHER COSTS POSE INCREASING RISKS OF EARNINGS SHORTFALLS, AND HIGHER SHARE PRICE OFFERS AN EXIT 10/8/2010

BHP BILLITON (BHP $79.78, cut to Neutral from OVERWEIGHT, $76 down from $89
Target per ADS) STRONGER A$ AND OTHER COSTS POSE INCREASING RISKS
OF EARNINGS SHORTFALLS, AND HIGHER SHARE PRICE OFFERS AN EXIT 10/8/2010