EXECUTIVE COMPENSATION

     The following table discloses the compensation received for the three years
ended December 31, 1999 by the Corporation's Chief Executive Officer and its
other executive officers.

                           SUMMARY COMPENSATION TABLE



                                               ANNUAL COMPENSATION         ALL
       NAME AND                                -------------------        OTHER
  PRINCIPAL POSITION                  YEAR      SALARY       BONUS    COMPENSATION
---------------------                 ----     --------      -----    ------------
                                                          
Warren E. Buffett                      1999     $100,000        --       $237,750(2)
  Chief Executive Officer/             1998      100,000        --        176,600(2)
  Chairman of the Board                1997      100,000        --        198,000(2)
                                                             
-----------------

(1)  Mr. Munger is compensated by a Berkshire subsidiary.

(2)  Represents the value of directors' fees received by Mr. Buffett and Mr. Munger in cash or 
deferred phantom equity interests from certain non-subsidiary companies in which Berkshire has significant investments.

(3)  Represents contribution to a subsidiary's defined contribution plan in
     which Mr. Hamburg participates.


                                       3


               BOARD OF DIRECTORS REPORT ON EXECUTIVE COMPENSATION

Berkshire's program regarding compensation of its executive officers is different from
most public corporations' programs. Mr. Warren E. Buffett recommends to the Board of 
Directors the amount of his proposed remuneration and he sets the remuneration of Berkshire's 
other executive officers(including both salary and bonus). Mr. Buffett has been paid an 
annual salary of $100,000 for each of the last 18 years. Factors considered by the Board of 
Directors and Mr. Buffett are typically subjective, such as their perception of the 
individual's performance and any planned change in functional responsibility. Neither the 
profitability of the Corporation nor the market value of its stock are considered in 
setting executive officer remuneration including both salary and bonus). Further, it is 
the Corporation's policy that all compensation paid to its executive officers be deductible 
under Internal Revenue Code Section 162(m).