BERKSHIRE HATHAWAY INC.
NEWS RELEASE

FOR IMMEDIATE RELEASE
MAY 15, 1996


        Earnings of Berkshire Hathaway Inc. and its consolidated 
subsidiaries for the first quarter ended March 31, 1996 and 
1995 are summarized below.  Amounts are stated on an after-tax 
basis  (dollar amounts are in millions except per share amounts):

                                           1996            1995 * 
                                         --------        --------
     Earnings from operations            $  160.2        $  144.0 
     Realized investment gain (loss)      1,508.5            (4.8)
                                         --------        --------
     Net earnings                        $1,668.7        $  139.2 
                                         ========        ========

     Average shares outstanding          1,193,512       1,177,750 

     Earnings per share:
             Earnings from operations      $134              $122  
             Net earnings                $1,398              $118  
     * Restated

        The net earnings figures for 1996 are meaningless in 
evaluating the Company or charting its  progress: 1996's first 
quarter earnings include $1.5 billion of after-tax realized 
investment gains  compared to after-tax realized investment 
losses of $4.8 million in the comparable prior year  period.  
Most of 1996's realized gain arose in connection with The Walt 
Disney Company's  acquisition of Capital Cities/ABC, Inc.  While 
the realized gain had a material impact on  Berkshire's reported 
earnings, it had a very minor impact on Berkshire's 
shareholders' equity.  Berkshire records its investments at 
market value and the appreciation in the Capital Cities stock  
had been previously reflected as a component of shareholders' 
equity in periods prior to 1996's  first quarter.
        Earnings from operations in 1996 include the results of 
GEICO Corporation.  As previously  announced, on January 2, 
1996, Berkshire completed the acquisition of the approximately 
49%  of GEICO common stock not previously owned.  In prior years 
Berkshire's investment in GEICO  common stock had been carried 
at market value.  As a result of obtaining control of GEICO in  
1996, generally accepted accounting principles currently require 
that prior year results be restated  to reflect Berkshire's 
prior investment in GEICO under the equity method.  Accordingly, 
the 1995  results have been restated.
        Berkshire Hathaway and its subsidiaries engage in a number 
of diverse business activities  among which the most important 
is the property and casualty insurance business conducted on 
both  a direct and reinsurance basis.  Common stock of the 
Company is listed on the New York Stock  Exchange, trading 
symbols BRK.A and BRK.B.

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