Omaha, Nebraska and Stamford, Connecticut, March 2, 1999 ¾ Berkshire Hathaway Life Insurance Company of Nebraska (BHLN), a subsidiary of Berkshire Hathaway Inc., has begun to offer annuity products on a direct basis to consumers over the internet at www.bhln.com. BHLN will initially offer two products: a Single Premium Immediate Annuity and a Single Premium Deferred Annuity.

BHLN, which has the highest possible ratings from both Standard and Poor’s and A.M. Best, will pass the savings of low-cost distribution to its customers. This allows for every dollar of investment to be put to work for the policyholder.

The products, and the ability to purchase them directly, will provide consumers with an attractive alternative to the traditional marketplace. "The products offered at this website are relatively simple, easy-to-understand financial planning tools, and the internet provides a private, no-pressure environment in which to evaluate and implement a purchasing decision. Most important is the fact that consumers will not have to pay a sales commission, which can be 5% or more of the premium. This means that every dollar of investment is put to work for the consumer", said Warren Buffett, Chairman of Berkshire Hathaway Inc. "The people who will be most interested will be those who want to set aside a portion of their assets to build a safety net for the future, and who want those assets invested with an institution that can be totally relied upon to fulfill its promises to pay decades into the future," added Mr. Buffett.

The Single Premium Immediate Annuity (SPIA) ensures the buyer guaranteed income for their entire lifetime in exchange for an upfront investment. There are several tax advantages for a buyer of this product, which enhance the amount of after-tax cash return.

The Single Premium Deferred Annuity (SPDA) is a wealth accumulation product that allows the consumer to save money in a tax-deferred environment. An SPDA is essentially a tax-deferred zero coupon bond.

Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse businesses. The most important of these is the property and casualty insurance business conducted on both a direct and reinsurance basis through a number of subsidiaries.

The BHLN website can be accessed at www.bhln.com. The Berkshire Hathaway Inc. website can be found at www.berkshirehathaway.com.

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For additional information, please contact:

Bobby Le Blanc (203) 363-5208