Berkshire Hathaway Inc. to Acquire Business Wire

Business Wire will operate as a wholly owned subsidiary ofBerkshire Hathaway. Business Wire's management team will remain inplace and the company's day-to-day operations will not be affected bythe ownership change. The acquisition is subject to customary closingconditions, including the termination of the applicable waiting periodunder the Hart-Scott-Rodino Act. The transaction is expected to closein the first quarter of 2006.

Warren Buffett, Berkshire Hathaway chairman and chief executiveofficer, said that Business Wire closely mirrored the profile ofcompanies in Berkshire Hathaway's portfolio.

"In making this acquisition of Business Wire, we have followed ourblueprint of buying profitable companies that are industry leaders,yet have significant growth potential," said Buffett. "A majorcriteria in all our investment decisions is evaluating corporatemanagement. Business Wire's experienced management team was key to ourdecision.

"We quickly realized that Business Wire was a gem of a company,"Buffett added. "I expect Business Wire to continue to do what it hasalways done and I'll be there if I can help in any way."

"Berkshire Hathaway is a perfect fit for Business Wire," saidLorry I. Lokey, who founded the company in 1961, and is the company'schairman. "Berkshire Hathaway is committed to providing a supportiveenvironment that will enable Business Wire to continue to expand inoverseas markets and to capitalize on emerging opportunities. We arevery fortunate to become a part of one of the world's most admiredcompanies."

Lokey will remain with Business Wire as chairman, but willdedicate himself to his philanthropic pursuits. Lokey has madecharitable donations in excess of $160 million to educational andmedical research-related projects worldwide in the past decade.

"We are extremely excited to be welcomed into the BerkshireHathaway family," said Cathy Baron Tamraz, Business Wire's presidentand chief executive officer. "We are confident that the acquisitionwill provide myriad positive benefits for our employees, our clientsand our affiliates and business partners worldwide. This is a win-winfor all involved."

Business Wire, which has expanded in Europe and Asia in recentyears, is poised to take advantage of impending shifts in corporatetransparency and disclosure requirements. It has set up numerousregulatory disclosure networks in Europe in preparation for theEuropean Union's Transparency Obligations Directive, which will takeeffect in January 2007. The TOD mandates harmonized, pan-Europeandisclosure standards for publicly traded companies in all 25 MemberStates.

About Berkshire Hathaway:

Berkshire Hathaway and its subsidiaries engage in a number ofdiverse business activities among which the most important is theproperty and casualty insurance business conducted on both a directand reinsurance basis. Common stock of the Company is listed on theNew York Stock Exchange, trading symbols BRK.A and BRK.B.

About Business Wire:

Business Wire was founded in 1961 by chairman Lorry I. Lokey,veteran journalist and public relations executive.

The company's multi-channel delivery network, with access to some60 international and national news agencies, financial informationproviders and Web-based news services throughout North America,Europe, Asia, Latin America, the Middle East and Africa, providesreal-time, simultaneous access to key audiences -- the news media,trade publications, institutional and individual investors,business-to-business decision-makers and consumers.

Business Wire electronically disseminates some 1,000 full-textnews releases daily to the media, the Internet, online services anddatabases, and the global investment community in 150 countries in 45languages. Business Wire has 24 U.S. offices, Paris, Frankfurt,London, Brussels, Tokyo and Sydney offices, and reciprocal officesthroughout the world.