BERKSHIRE HATHAWAY TO ACQUIRE THE PAMPERED CHEF

Omaha, Ne. and Addison, Il., September 23, 2002 ¾  Berkshire Hathaway Inc. (NYSE: BRK.A and BRK.B) and The Pampered Chef, Ltd. announced today that Berkshire will acquire The Pampered Chef from its founder and Chairman, Doris K. Christopher, and her family.

The Pampered Chef will continue to be managed by Mrs. Christopher as Founder and Chairman, Sheila O’Connell Cooper as President and its current management team, all continuing to be headquartered in Addison, Illinois.

Mr. Warren Buffett, Chairman of Berkshire, stated, "We are extremely excited by The Pampered Chef. Doris Christopher has created from scratch an absolutely wonderful business and Sheila O’Connell Cooper is exactly the type of manager Berkshire admires. They both clearly love the business and the people they work with. We are delighted to add The Pampered Chef to the family of Berkshire businesses."

Mrs. Christopher, founder and Chairman of The Pampered Chef, stated, "Berkshire represents a great partner for The Pampered Chef as Sheila, our management team and I look forward to growing and building our business. We are proud to stand among the top-tier brands of Berkshire Hathaway."

The acquisition is subject to customary conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act. Following the acquisition, which is expected to occur during the fourth quarter of 2002, The Pampered Chef will be a wholly owned subsidiary of Berkshire Hathaway.

Berkshire Hathaway is a holding company owning subsidiaries engaged in a number of diverse business activities. 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 Pampered Chef is the largest branded kitchenware company and the largest direct seller of housewares in the U.S., with more than 67,000 "Kitchen Consultant" sales representatives.

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