BERKSHIRE HATHAWAY INC.
NEWS RELEASE

FOR IMMEDIATE RELEASE April 30, 2002

BERKSHIRE HATHAWAY INC.

 

Contact:

Marc D. Hamburg

Phone: (402) 346-1400

 

FRUIT OF THE LOOM

 

Contact:

Stephanie Hoefken

Richards/Gravelle

Phone: (214) 891-7693

stephanie_hoefken@richards.com

BERKSHIRE HATHAWAY COMPLETES ACQUISITION OF
FRUIT OF THE LOOM

April 30, 2002 ¾  Omaha, Nebraska (BRK.A, BRK.B). Berkshire Hathaway Inc. announced today the consummation of its purchase of substantially all of Fruit of the Loom’s business operations.

The order of the U.S. Bankruptcy Court for the District of Delaware confirming the Joint Plan of Reorganization of Fruit of the Loom and its subsidiaries became final yesterday, April 29, 2002. Berkshire’s acquisition completes Fruit of the Loom’s emergence from bankruptcy under the Plan approved by its creditors and the Court.

Fruit of the Loom, headquartered in Bowling Green, Kentucky, will operate as an independent, wholly owned subsidiary of Berkshire Hathaway Inc.

Berkshire Hathaway Inc. 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.

Fruit of the Loom is a leading international vertically integrated basic apparel company, emphasizing branded products for consumers of all ages. The Company is one of the world’s largest manufacturers and marketers of men’s and boys’ underwear, women’s and girls’ underwear, printable T-shirts and fleece for the activewear industry, casualwear and childrenswear. Fruit of the Loom employs approximately 23,000 people in over 50 locations worldwide. The Company sells its products principally under the FRUIT OF THE LOOM® and BVD® brands. For more information about the Company and its products, visit http://www.fruit.com.

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