8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report(Date of earliest event reported): October 22, 2008
COMPUTER SCIENCES CORPORATION
(Exact name of Registrant as specified in its charter)
Nevada	1-4850		95-2043126
(State or Other Jurisdiction of Incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)
3170 Fairview Park Drive		22042
Falls Church, Virginia		(Zip Code)
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code  (703) 876-1000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.03.  Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of a Registrant.
On October 22, 2008, CSC borrowed $1.5 billion under a Credit Agreement, dated as of July 12, 2007, among Computer Sciences Corporation, as Borrower, and the Banks named therein, as Lenders, and Citicorp USA, Inc., as Administrative Agent, Barclays Bank PLC, The Bank of Nova Scotia, The Royal Bank of Scotland PLC and Wachovia Bank, National Association, as Co-Syndication Agents, and Citigroup Global Markets Inc., as Arranger (the "Credit Agreement").  The Credit Agreement expires on July 12, 2012 and is described in the company's Annual Report on Form 10-K for the fiscal year ended March 28, 2008.  The Credit Agreement was filed as Exhibit 10.27 to the company's Current Report on Form 8-K, dated September 5, 2007. The loan bears interest at the Eurodollar Rate plus a Daily Margin as such terms are defined in the Credit Agreement. The loan is due and payable on July 12, 2012.  The primary use of proceeds is to repay maturing commercial paper and term debt. CSC announced this transaction in a press release dated October 23, 2008, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K. Item 9.01.  Financial Statements and Exhibits (d) Exhibits.  The following exhibit is filed herewith.
Exhibit No.	Description
99.1	Press release dated October 23, 2008
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereto duly authorized.
		COMPUTER SCIENCES CORPORATION
Dated: October 23, 2008		By  /s/ Thomas R. Irvin
		Thomas R. Irvin
		Vice President and Treasurer

2

EXHIBIT INDEX
Exhibit No.	Description
99.1	Press release dated October 23, 2008

3

EX-99.1

EXHIBIT 99.1

Contact:       Mike Dickerson	FOR IMMEDIATE RELEASE
Director, Media Relations	Moved On PR Newswire
Corporate	October 23, 2008
310.615.1647
mdickers@csc.com
Bill Lackey
Director, Investor Relations
Corporate
310.615.1700
blackey3@csc.com

CSC BORROWS $1.5 BILLION ON CREDIT FACILITY

FALLS CHURCH, Va., Oct. 23 – CSC (NYSE: CSC) announced today that it has borrowed $1.5 billion under its $1.5 billion committed revolving credit facility which expires July 12, 2012. CSC took the action due to the current instability of the commercial paper market.  The action will ensure the company’s liquidity position in light of the ongoing credit market dislocation. The primary use of proceeds is to repay maturing commercial paper and term debt. The company will discontinue its use of commercial paper in the current environment.

“Although we have had a long well established commercial paper position as a component of our financing, based on the current uncertainty in the financial markets, particularly with respect to commercial paper, we made this decision to proactively increase our liquidity and to bridge our access to the debt capital markets,” said Michael W. Laphen, CSC’s Chairman, President and Chief Executive Officer. "We will continue to monitor the market for improvement. However, in the current weak credit environment, we believe the prudent action for the company is to secure liquidity and draw down the credit facility."

About CSC

CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector. CSC’s advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 90,000 employees and reported revenue of $17.1 billion for the 12 months ended July 4, 2008. For more information, visit the company’s Web site at www.csc.com.

# # #

All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute “forward-looking  statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements represent the Company’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control.  These factors could cause actual results to differ materially from such forward-looking statements.  For a written description of these factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year ended March 28, 2008.  In addition to the foregoing, the current credit market dislocation could affect our future results. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.