Omaha, Nebraska and Portland, Oregon, USA - August 10, 2015 - The boards of directors of Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) and Precision Castparts Corp. ("PCC") (NYSE: PCP) have unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for USD235 per share in cash, all outstanding PCC shares. The transaction is valued at approximately USD37.2 billion, including outstanding PCC net debt. Precision Castparts is the world leader in structural investment castings, forged components, and airfoil castings for aircraft engines and industrial gas turbines. Airbus, Boeing, GE, Rolls-Royce, and many other leading manufacturers depend on us for critical airframe, engine, power generation, medical, and general industrial components. With few exceptions, every aircraft in the sky flies with parts made by PCC. PCC will continue to do business around the world under the Precision Castparts name and maintain its headquarters in Portland, Oregon. Credit Suisse acted as financial advisor to PCC and PCC's legal counsel is Cravath, Swaine & Moore LLP and Stoel Rives LLP. Berkshire Hathaway's legal counsel is Munger, Tolles & Olson LLP.