Berkshire Hathaway Inc. to Acquire 60% of Pritzker Family Company, Marmon Holdings, Inc.

Berkshire Hathaway Chairman and CEO Warren Buffett and Tom
Pritzker, Chairman of Marmon Holdings today announced that Berkshire
will purchase 60% of Marmon Holdings, Inc., a private company owned by
trusts for the benefit of members of the Pritzker Family of Chicago.

The closing is anticipated to occur in the first quarter of 2008.
Prior to closing, Marmon will make a substantial distribution of cash
and certain assets to the selling shareholders. At closing Berkshire
will acquire 60% of Marmon for $4.5 billion. The remaining 40% will be
acquired through staged acquisitions over a five to six year period
for consideration to be based on the future earnings of Marmon. The
transaction remains subject to customary closing conditions, including
regulatory approvals.

Marmon is a private company that was acquired in 1953 by two
brothers, Jay and Robert Pritzker, when it was a small ailing
manufacturing operation in Ohio. In 2002 Jay´s son Tom became Chairman
of Marmon. He then recruited John Nichols to become CEO of Marmon and
in 2006 John was succeeded by Frank Ptak who is currently CEO of
Marmon.

Today, the Marmon Group is an international association of more
than 125 manufacturing and service businesses that operate
independently within diverse business sectors. These sectors are Wire
& Cable, serving energy related markets, residential and
non-residential construction and other industries; Transportation
Services & Engineered Products, including railroad tank cars and
intermodal tank containers; Highway Technologies, primarily serving
the heavy-duty highway transportation industry; Distribution Services
for specialty pipe and tubing; Flow Products for the plumbing, HVAC/R,
construction and industrial markets; Industrial Products including
metal fasteners, safety products and metal fabrication; Construction
Services, providing the leasing and operation of mobile cranes
primarily to the energy, mining and petrochemical markets; Water
Treatment equipment for residential, commercial and industrial
applications; and Retail Services, providing store fixtures, food
preparation equipment and related services. Member companies employ
approximately 21,000 people and operate more than 250 manufacturing,
distribution and service facilities, primarily in North America, the
United Kingdom, Europe and China. Collective revenues total
approximately $7 billion.

Between 2002 and 2007 Marmon´s operating income more than tripled.
During that same period operating margins increased from 4.9% to
12.4%.

In commenting on the transaction, Warren Buffett noted: "Our
transaction was done just the way Jay would have liked it to be done -
no consultants or studies. After meeting with Messrs. Ptak and
Nichols, they were just what I expected from Marmon´s impressive
record of growth and profitability over the years, and the decision to
purchase and work out the details of this transaction was done without
delay. I am pleased that over the next five to six years, we will be
partnering and working with Tom Pritzker, John Nichols and Frank Ptak
in continuing to build Marmon."

Tom Pritzker observed "This transaction is the culmination of a
process that began six years ago. We brought John Nichols in as CEO
and began rebuilding Marmon´s existing lines of business. Berkshire
Hathaway´s decision recognizes the fine work of our management team
over this period and the transaction is being done in the context of
the previously reported restructuring of our family business
interests."

John Nichols said "This is a transaction that works for all
stakeholders. It will allow Marmon to thrive under its existing
management team and continue implementing our management philosophy.
While we have a new shareholder, it is clear that Berkshire Hathaway
shares the values and approach established by the Pritzkers over many
decades."

Frank Ptak said: "We have had a very positive experience working
with Tom and the leadership of the Pritzker family. We are very happy
that they have been able to structure this transaction in the way that
will allow us to continue to grow Marmon. From management´s
perspective, we are excited and energized by the idea that Warren
Buffett is partnering with Tom Pritzker and John Nichols to provide
guidance for our future growth."

Berkshire Hathaway and its subsidiaries engage in a number of
diverse business activities including property and casualty insurance
and reinsurance, utilities and energy, 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.