berkshire hathaway May 23, 2005 Registered Exchange Offers Commence

Berkshire Hathaway Inc. and Berkshire Hathaway Finance Corporation announced three registered exchange offers to exchange privately placed notes for newly registered notes. The exchange offers include up to $1.25 billion in floating rate senior notes due 2008, up to $1.5 billion in 4.125% senior notes due 2010, and up to $1 billion in 4.85% senior notes due 2015. Original notes that are validly tendered by June 20, 2005 will be accepted for exchange. The exchange notes have been registered under securities law and will not bear transfer restrictions like the original notes. Investors can obtain prospectuses and exchange materials from the exchange agent, J.P. Morgan Trust Company.