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Berkshire Hathaway Authorizes Repurchase Program

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					Berkshire Hathaway Authorizes Repurchase
Program
September 26, 2011 09:03 AM Eastern Daylight Time 

OMAHA, Neb.--(EON: Enhanced Online News)--Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B)—Our
Board of Directors has authorized Berkshire Hathaway to repurchase Class A and Class B shares of Berkshire at
prices no higher than a 10% premium over the then-current book value of the shares. In the opinion of our Board
and management, the underlying businesses of Berkshire are worth considerably more than this amount, though any
such estimate is necessarily imprecise. If we are correct in our opinion, repurchases will enhance the per-share
intrinsic value of Berkshire shares, benefiting shareholders who retain their interest.

Berkshire plans to use cash on hand to fund repurchases, and repurchases will not be made if they would reduce
Berkshire’s consolidated cash equivalent holdings below $20 billion. Financial strength and redundant liquidity will
always be of paramount importance at Berkshire.

Berkshire may repurchase shares in open market purchases or through privately negotiated transactions, at
management’s discretion. The repurchase program is expected to continue indefinitely and the amount of purchases
will depend entirely upon the levels of cash available, the attractiveness of investment and business opportunities
either at hand or on the horizon, and the degree of discount from management’s estimate of intrinsic value. The
repurchase program does not obligate Berkshire to repurchase any dollar amount or number of Class A or Class B
shares.

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements, which contain words such as “expect,” “believe” or “plan,” by their nature
address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be
materially different than those expressed in our forward-looking statements, including with respect to the duration of
the repurchase program. We do not undertake to update our forward-looking statements.

Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty
insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and
services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and
BRK.B.

Contacts
Berkshire Hathaway Inc.
Marc D. Hamburg
402-346-1400

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Description: OMAHA, Neb.--(EON: Enhanced Online News)--Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B)—Our Board of Directors has authorized Berkshire Hathaway to repurchase Class A and Class B shares of Berkshire at prices no higher than a 10% premium over the then-current book value of the shares. In the opinion of our Board and management, the underlying businesses of Berkshire are worth considerably more than this amount, though any such estimate is necessarily imprecise. If we are correct in our opinion, r a style='font-
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