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October 16, 2004 Registered Exchange Offer Extended

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Berkshire Hathaway Inc. and Berkshire Hathaway Finance Corporation have extended the expiration date of two registered exchange offers to October 22, 2004. The exchange offers allow holders to exchange up to $300 million of 3.375% Senior Notes due 2008 and up to $200 million of 4.625% Senior Notes due 2013 for an equal amount of privately placed notes. As of October 15, 2004, approximately $298 million of the 2008 notes and $196 million of the 2013 notes had been tendered for exchange. Berkshire and BHFC will accept any remaining valid tenders by the new expiration date, unless the offers are extended further.

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BERKSHIRE HATHAWAY INC. NEWS RELEASE FOR IMMEDIATE RELEASE October 16, 2004 Berkshire Hathaway Inc. Extends Expiration of Registered Exchange Offer to October 22, 2004 OMAHA, NE--October 16, 2004 Berkshire Hathaway Inc. (Berkshire) and Berkshire Hathaway Finance Corporation (BHFC) today announced that they have extended the expiration date of two separate registered exchange offers to October 22, 2004. The first is the offer to exchange up to $300 million of BHFCs newly registered 3.375% Senior Notes due 2008 issued on March 16, 2004 (the 2008 Exchange Notes), for an equal amount of its privately placed 3.375% Senior Notes due 2008 (the 2008 Original Notes). The second is an offer to exchange up to $200 million of BHFCs newly registered 4.625% Senior Notes due 2013 (the 2013 Exchange Notes and together with the 2008 Exchange Notes, the Exchange Notes), for an equal amount of its privately placed 4.625% Senior Notes due 2013 issued on March 16, 2004 (the 2013 Original Notes and together with the 2008 Original Notes, the Original Notes). As of 5:00 p.m. Eastern time Friday October 15, 2004, the original expiration date of both of these exchange offers, approximately $298 million in aggregate principal amount of the 2008 Original Notes and $196 million in aggregate principal amount of the 2013 Original Notes had been tendered for exchange. Berkshire and BHFC will accept for exchange any and all Original Notes validly tendered and not withdrawn prior to the new expiration date of these exchange offers at 5 p.m. Eastern time on Friday, October 22, 2004, unless extended. Berkshire and BHFC do not currently intend to extend these exchange offers any further. The Exchange Notes are substantially identical to the Original Notes, except that the Exchange Notes have been registered under the Securities Act of 1933 and will not bear any legend restricting their transfer. The terms of the exchange offers and other information relating to Berkshire and BHFC are set forth in separate prospectuses dated September 10, 2004. Copies of these prospectuses and the related letters of transmittal may be obtained from J.P. Morgan Trust Company, National Association, which is serving as the exchange agent for both exchange offers. J.P. Morgan Trust Company, National Associations address, telephone and facsimile number are as follows: J.P. Morgan Trust Company, National Association Institutional Trust Services Attn: Frank Ivins 2001 Bryan Street 9th Floor Dallas, TX 75201 Investor Relations: 1-800-275-2048 Fax Confirmation: 214-468-6494 This announcement is neither an offer to sell nor a solicitation of an offer to buy or exchange the Exchange Notes or the Original Notes. The exchange offers are made solely pursuant to the prospectuses dated September 10, 2004, including any supplements thereto. ###

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October 16, 2004 Registered Exchange Offer Extended

  • 1. BERKSHIRE HATHAWAY INC. NEWS RELEASE FOR IMMEDIATE RELEASE October 16, 2004 Berkshire Hathaway Inc. Extends Expiration of Registered Exchange Offer to October 22, 2004 OMAHA, NE--October 16, 2004 Berkshire Hathaway Inc. (Berkshire) and Berkshire Hathaway Finance Corporation (BHFC) today announced that they have extended the expiration date of two separate registered exchange offers to October 22, 2004. The first is the offer to exchange up to $300 million of BHFCs newly registered 3.375% Senior Notes due 2008 issued on March 16, 2004 (the 2008 Exchange Notes), for an equal amount of its privately placed 3.375% Senior Notes due 2008 (the 2008 Original Notes). The second is an offer to exchange up to $200 million of BHFCs newly registered 4.625% Senior Notes due 2013 (the 2013 Exchange Notes and together with the 2008 Exchange Notes, the Exchange Notes), for an equal amount of its privately placed 4.625% Senior Notes due 2013 issued on March 16, 2004 (the 2013 Original Notes and together with the 2008 Original Notes, the Original Notes). As of 5:00 p.m. Eastern time Friday October 15, 2004, the original expiration date of both of these exchange offers, approximately $298 million in aggregate principal amount of the 2008 Original Notes and $196 million in aggregate principal amount of the 2013 Original Notes had been tendered for exchange. Berkshire and BHFC will accept for exchange any and all Original Notes validly tendered and not withdrawn prior to the new expiration date of these exchange offers at 5 p.m. Eastern time on Friday, October 22, 2004, unless extended. Berkshire and BHFC do not currently intend to extend these exchange offers any further. The Exchange Notes are substantially identical to the Original Notes, except that the Exchange Notes have been registered under the Securities Act of 1933 and will not bear any legend restricting their transfer. The terms of the exchange offers and other information relating to Berkshire and BHFC are set forth in separate prospectuses dated September 10, 2004. Copies of these prospectuses and the related letters of transmittal may be obtained from J.P. Morgan Trust Company, National Association, which is serving as the exchange agent for both exchange offers. J.P. Morgan Trust Company, National Associations address, telephone and facsimile number are as follows: J.P. Morgan Trust Company, National Association Institutional Trust Services Attn: Frank Ivins 2001 Bryan Street 9th Floor Dallas, TX 75201 Investor Relations: 1-800-275-2048 Fax Confirmation: 214-468-6494 This announcement is neither an offer to sell nor a solicitation of an offer to buy or exchange the Exchange Notes or the Original Notes. The exchange offers are made solely pursuant to the prospectuses dated September 10, 2004, including any supplements thereto. ###