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berkshire hathaway August 8, 2005 Press Release Regarding Second Quarter 2005 10-Q

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Berkshire Hathaway issued a press release to clarify a statement in its quarterly 10-Q filing regarding inquiries from governmental authorities about the accounting practices of some of its insurance subsidiaries. The press release specifies that the inquiries relate to an ongoing investigation that began in January 2005, not a new investigation. Berkshire Hathaway is a holding company with subsidiaries engaged in property/casualty insurance and other diverse businesses.

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BERKSHIRE HATHAWAY INC. NEWS RELEASE FOR IMMEDIATE RELEASE August 8, 2005 Omaha Ne., August 8, 2005--Berkshire Hathaway Inc. (NYSE: BRK.A and BRK.B) is putting out this press release to clarify a comment in its second quarter 10-Q dated August 5, 2005. In the 10-Q, Berkshire included the following disclosure: Governmental authorities are also inquiring about the accounting by certain of Berkshires insurance subsidiaries for assumed and ceded finite transactions. The inquiries being made by the government relate to the investigation that commenced with the original subpoena received from the SEC on January 7, 2005, and are not as a result of any new investigation by the SEC, DOJ, U.S Attorney or any other governmental authority. All affiliated insurance subsidiaries of Berkshire were included in the original subpoena issued by the SEC last January. Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. The most important of these is the property and casualty insurance business conducted on both a direct and reinsurance basis through a number of subsidiaries. #####

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berkshire hathaway August 8, 2005 Press Release Regarding Second Quarter 2005 10-Q

  • 1. BERKSHIRE HATHAWAY INC. NEWS RELEASE FOR IMMEDIATE RELEASE August 8, 2005 Omaha Ne., August 8, 2005--Berkshire Hathaway Inc. (NYSE: BRK.A and BRK.B) is putting out this press release to clarify a comment in its second quarter 10-Q dated August 5, 2005. In the 10-Q, Berkshire included the following disclosure: Governmental authorities are also inquiring about the accounting by certain of Berkshires insurance subsidiaries for assumed and ceded finite transactions. The inquiries being made by the government relate to the investigation that commenced with the original subpoena received from the SEC on January 7, 2005, and are not as a result of any new investigation by the SEC, DOJ, U.S Attorney or any other governmental authority. All affiliated insurance subsidiaries of Berkshire were included in the original subpoena issued by the SEC last January. Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. The most important of these is the property and casualty insurance business conducted on both a direct and reinsurance basis through a number of subsidiaries. #####