The 1999 Annual Report is being presented in both HTML and PDF format. We strongly recommend you view the PDF version which is closer in appearance to our printed Annual Report. To view the Annual Report in PDF format you must have an Adobe Acrobat Reader. If you do not have Adobe Acrobat on your computer, use the link to go to Adobe's web site for a free download.     Adobe

1999 Annual Report PDF Version *

1999 Annual Report HTML Version *

In his 1999 letter to shareholders, Mr. Buffett refers to a recent article appearing in Fortune Magazine. A reprint of the article is being sent to all shareholders along with the printed 1999 Annual Report and Proxy Statement. The article appeared in the November 22, 1999 edition of Fortune Magazine.

* Includes copyrighted material reproduced with permission