Document:

EXECUTION COPY

                       MIDAMERICAN ENERGY HOLDINGS COMPANY

                                       and

                              THE BANK OF NEW YORK,
                                   as Trustee

                           3.50% Senior Notes due 2008

                          Second Supplemental Indenture

                            Dated as of May 16, 2003

     SECOND SUPPLEMENTAL INDENTURE, dated as of May 16, 2003 (this "Second
Supplemental Indenture"), between MIDAMERICAN ENERGY HOLDINGS COMPANY, an Iowa
corporation (the "Company"), and THE BANK OF NEW YORK, a New York banking
corporation, as Trustee (the "Trustee") under the Original Indenture referred to
below.

                                   WITNESSETH:

     WHEREAS, the Company has heretofore executed and delivered to the Trustee
that certain Indenture, dated as of October 4, 2002 (hereinafter called the
"Original Indenture," and together with this Second Supplemental Indenture, the
"Indenture"), to provide for the issuance from time to time of its unsecured
debentures, notes or other evidences of indebtedness, the form and terms of
which are to be established as set forth in Sections 2.01 and 3.01 of the
Original Indenture;

     WHEREAS, Section 9.01 of the Original Indenture provides, among other
things, that the Company and the Trustee may enter into indentures supplemental
to the Original Indenture for, among other things, the purpose of establishing
the form and terms of the Securities of any series as permitted in Sections 2.01
and 3.01 of the Original Indenture and of appointing an Authenticating Agent
with respect to the Securities of any series;

     WHEREAS, the Company desires to create one series of its unsecured
debentures in an aggregate principal amount of Four Hundred Fifty Million
Dollars ($450,000,000) to be designated the "3.50% Senior Notes due 2008" (the
"Securities"), and all action on the part of the Company necessary to authorize
the issuance of the Securities under the Original Indenture and this Second
Supplemental Indenture has been duly taken; and

     WHEREAS, all acts and things necessary (i) to make the Securities, when
executed by the Company and authenticated and delivered by the Trustee as
provided in the Original Indenture, the valid and binding obligations of the
Company and (ii) to constitute these presents a valid and binding supplemental
indenture and agreement according to its terms, have been done and performed.

     NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH:

     That in consideration of the premises and of the acceptance and purchase of
the Securities by the holders thereof and of the acceptance of this trust by the
Trustee, the Company covenants and agrees with the Trustee, for the equal
benefit of holders of the Securities, as follows:

                                   ARTICLE I.

                                   DEFINITIONS

     The use of the terms and expressions herein is in accordance with the
definitions, uses and constructions contained in the Original Indenture and the
forms of Securities attached

hereto as Exhibits A through E. In addition, for all purposes of this Second
Supplemental Indenture, except as otherwise expressly provided or unless the
context otherwise expressly requires, the following terms shall have the
respective meanings assigned to them as follows and shall be construed as if
defined in Article I of the Original Indenture:

     "Exchange Security" means a security in global or definitive form
substantially in the form set forth in Exhibit E to this Second Supplemental
Indenture.

     "Global Security" means a Rule 144A Global Security, a Regulation S
Temporary Global Security, or a Regulation S Permanent Global Security, in
global form substantially in the form set forth in Exhibits A, B and C,
respectively, to this Second Supplemental Indenture.

     "Initial Purchasers" means Credit Suisse First Boston LLC, ABN AMRO
Incorporated, Banc One Capital Markets, Inc. and BNP Paribas Securities Corp.

     "Registration Rights Agreement" means the Registration Rights Agreement,
dated May 13, 2003, among the Company and the Initial Purchasers.

                                   ARTICLE II.

                      TERMS AND ISSUANCE OF THE SECURITIES

     Section 2.01 Issue of Securities. One series of the Securities, which shall
be designated the "3.50% Senior Notes due 2008" shall be executed, authenticated
and delivered in accordance with the provisions of, and shall in all respects be
subject to, the terms, conditions and covenants of the Original Indenture and
this Second Supplemental Indenture (including the forms of Securities set forth
in Exhibits A through E, as applicable). The aggregate principal amount of the
3.50% Senior Notes due 2008 which may be authenticated and delivered under this
Second Supplemental Indenture shall not exceed $450,000,000.

     Section 2.02 Optional Redemption. The Securities may be redeemed, in whole
or in part, at the option of the Company pursuant to the terms set forth in
paragraph 2 of the Securities to be redeemed. The provisions of Article XI of
the Original Indenture shall also apply to any redemption of the Securities by
the Company.

     Section 2.03 Limitation on Liens. The covenant provided by Section 10.04 of
the Original Indenture shall be applicable to the Securities.

     Section 2.04 Change of Control. The covenant provided by Section 10.10 of
the Original Indenture shall be applicable to the Securities.

     Section 2.05 Place of Payment. The Place of Payment in respect of the
Securities will be in The City of New York, initially at the Corporate Trust
Office of The Bank of New York (which as of the date hereof is located at 101
Barclay Street, Floor 8W, New York, New York 10286 Attention: Corporate Trust
Administration).

     Section 2.06 Form of Securities; Incorporation of Terms. The forms of the
Securities shall be substantially in the forms of Exhibits A through E attached
hereto, as

                                       2

applicable, the respective terms of which are incorporated herein by reference
and which are part of this Second Supplemental Indenture. The Securities shall
be issued as one or more Global Securities in fully registered form and one or
more Definitive Securities in fully registered form, as determined in accordance
with Section 2.01 of the Original Indenture. The Global Securities shall be
delivered by the Trustee to the Depositary, as the Holder thereof, or a nominee
or custodian therefor, to be held by the Depositary in accordance with the
Original Indenture.

     Section 2.07 Exchange of the Global Securities. Each of the Global
Securities shall be exchangeable for Definitive Securities only as provided in
Section 3.07(b)(ii) of the Original Indenture.

     Section 2.08 Interest Payment Dates for the Securities. The Interest
Payment Dates for the Securities shall be May 15 and November 15 in each year,
commencing November 15, 2003 and continuing until the Principal Amount of the
Securities is paid in full or made available for payment in accordance with the
terms of the Indenture and the Securities.

     Section 2.09 Regular Record Date for the Securities. The Regular Record
Date for the Securities shall be the May 1 or November 1 immediately prior to
each Interest Payment Date.

     Section 2.10 Authorized Denominations. Beneficial interests in Global
Securities, as well as Definitive Securities, may be held only in denominations
of $1,000 and integral multiples of $1,000.

                                  ARTICLE III.

                                   DEPOSITARY

     Section 3.01 Depositary. The Depository Trust Company, its nominees and
their respective successors are hereby appointed Depositary with respect to the
Global Securities.

                                   ARTICLE IV.

                        AMENDMENTS TO ORIGINAL INDENTURE

     Section 4.01 Definition of "Rating Decline". The definition of "Rating
Decline" set forth in Section 1.01 of the Original Indenture is hereby amended
by deleting the words "will be" in subsections (1) and (2) of such definition
and inserting in the place thereof the word "is."

     Section 4.02 Events of Default. With respect to the Securities and any
other securities issued pursuant to the Original Indenture after the date
hereof, Section 5.01(f) of the Original Indenture is hereby amended by inserting
the phrase "(other than Berkshire Hathaway or any of its Affiliates that provide
commercial insurance in the ordinary course of their business)" after the phrase
"an Affiliate of the Company."

                                       3

                                   ARTICLE V.

                                  MISCELLANEOUS

     Section 5.01 Execution as Supplemental Indenture. This Second Supplemental
Indenture is executed and shall be construed as an indenture supplemental to the
Original Indenture and, as provided in the Original Indenture, this Second
Supplemental Indenture forms a part thereof.

     Section 5.02 Effect of Headings. The Article and Section headings herein
are for convenience only and shall not affect the construction hereof.

     Section 5.03 Successors and Assigns. All covenants and agreements in this
Second Supplemental Indenture by the Company shall bind its successors and
assigns, whether so expressed or not.

     Section 5.04 Separability Clause. In case any provision in this Second
Supplemental Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

     Section 5.05 Benefits of Second Supplemental Indenture. Nothing in this
Second Supplemental Indenture or in the Securities, express or implied, shall
give to any person, other than the parties hereto and their successors hereunder
and the Holders, any benefit or any legal or equitable right, remedy or claim
under this Second Supplemental Indenture.

     Section 5.06 Execution in Counterparts. This Second Supplemental Indenture
may be executed in any number of counterparts, each of which shall be deemed to
be an original, but all such counterparts shall together constitute but one and
the same instrument.

     Section 5.07 Trustee. The Trustee makes no representations as to the
validity or sufficiency of this Second Supplemental Indenture. The statements
herein are deemed to be those of the Company and not of the Trustee.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       4

     IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental
Indenture to be duly executed by their respective officers or directors duly
authorized thereto, all as of the day and year first above written.

                                   MIDAMERICAN ENERGY HOLDINGS COMPANY

                                   By: /s/ Douglas L. Anderson
                                      ---------------------------------------
                                   Name:  Douglas L. Anderson
                                   Title: Senior Vice President and
                                          General Counsel

                                   THE BANK OF NEW YORK,
                                     as Trustee

                                   By: /s/ Robert A. Massimillo
                                      ---------------------------------------
                                   Name:  Robert A. Massimillo
                                   Title: Vice President

                         (Second Supplement Indenture)

                                    EXHIBITS
                                    --------

Exhibit A     Form of 144A Global Senior Note due 2008
Exhibit B     Form of Regulation S Temporary Global Senior Note due 2008
Exhibit C     Form of Regulation S Permanent Global Senior Note due 2008
Exhibit D     Form of Restricted Definitive Senior Note due 2008
Exhibit E     Form of Private Exchange Senior Note due 2008

                                                                       EXHIBIT A

                        FORM OF FACE OF RULE 144A GLOBAL
                              SENIOR NOTE DUE 2008

     THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED
IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS
SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO
A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY) MAY BE
REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY DEFINITIVE SECURITY IS ISSUED IN THE NAME OR NAMES
AS DIRECTED IN WRITING BY THE DEPOSITARY, ANY TRANSFER, PLEDGE, OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL IN AS MUCH AS THE
REGISTERED OWNER HEREOF, THE DEPOSITARY, HAS AN INTEREST HEREIN.

     THIS SECURITY HAS BEEN INITIALLY RESOLD IN RELIANCE ON RULE 144A UNDER THE
SECURITIES ACT AND SHALL BEAR THE FOLLOWING LEGEND UNTIL REMOVABLE IN ACCORDANCE
WITH ITS TERMS AND THE TERMS OF THE INDENTURE:

     THIS SECURITY HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO OR FOR
THE ACCOUNT OR BENEFIT OF U.S. PERSONS EXCEPT AS SET FORTH IN THE FOLLOWING
SENTENCE. BY ITS ACQUISITION HEREOF, EACH OF THE HOLDER OF THIS SECURITY AND ANY
OWNERS OF INTERESTS HEREIN (1) REPRESENTS THAT IT IS A "QUALIFIED INSTITUTIONAL
BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (2) AGREES THAT
BEGINNING FROM THE LATER OF (X) THE ORIGINAL ISSUE DATE OF THIS SECURITY OR (Y)
THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE THEREOF WAS THE BENEFICIAL
OWNER OF THIS SECURITY (OR ANY PREDECESSOR HEREOF) THROUGH THE TIME PERIOD
REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT, IT WILL NOT RESELL OR
OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY AFFILIATE
THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A
UNDER THE SECURITIES ACT, (C) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" THAT
PRIOR TO SUCH TRANSFER FURNISHED TO THE

                                  Exhibit A-1

TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS
RELATING TO THE RESTRICTIONS ON TRANSFER OF THIS SECURITY (THE FORM OF WHICH
LETTER CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF
AN AGGREGATE PRINCIPAL AMOUNT OF SECURITIES AT THE TIME OF TRANSFER OF LESS THAN
$250,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH TRANSFER IS
IN COMPLIANCE WITH THE SECURITIES ACT, (D) OUTSIDE THE UNITED STATES IN
COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT, (E) PURSUANT TO THE EXEMPTION
FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE)
OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
AND (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY IS
TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. UNLESS THE
COMPANY DETERMINES OTHERWISE IN ACCORDANCE WITH APPLICABLE LAW, THIS LEGEND WILL
BE REMOVED BY THE COMPANY (1) UPON REQUEST OF THE HOLDER, AFTER THE EXPIRATION
OF THE TIME PERIOD REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT BEGINNING
FROM THE LATER OF (A) THE ORIGINAL ISSUE DATE OF THIS SECURITY AND (B) THE LAST
DATE ON WHICH THE COMPANY OR ANY AFFILIATE THEREOF WAS THE BENEFICIAL OWNER OF
THIS SECURITY (OR ANY PREDECESSOR HEREOF) OR (2) WITH RESPECT TO SECURITIES SOLD
IN RELIANCE ON REGULATION S, FOLLOWING THE EXPIRATION OF 40 CONSECUTIVE DAYS
BEGINNING ON AND INCLUDING THE LATER OF (A) THE DAY ON WHICH INTERESTS IN THIS
SECURITY ARE OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN
REGULATION S) AND (B) THE ORIGINAL ISSUE DATE OF THIS SECURITY. AS USED HEREIN,
THE TERMS "OFFSHORE TRANSACTION," "UNITED STATES" AND "U.S. PERSON" HAVE THE
MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.

                                  Exhibit A-2

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

                                                               $[              ]

No. [__]                                                   CUSIP No. 59562V AG 2
                                                           ISIN No. US59562VAG23

     MIDAMERICAN ENERGY HOLDINGS COMPANY, a corporation organized under the laws
of Iowa (herein called the "Company," which term includes any successor
corporation under the Indenture hereinafter referred to), for value received,
hereby promises to pay to CEDE & Co., or registered assigns, the principal
amount of [________] Dollars (such Initial Principal Amount, as it may from time
to time be adjusted by endorsement on Schedule A hereto, is hereinafter referred
to as the "Principal Amount") on May 15, 2008, and to pay interest thereon from
May 16, 2003, or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, semi-annually on May 15 and November 15 in
each year, commencing November 15, 2003, at the rate of 3.50% per annum, until
the Principal Amount hereof is paid or made available for payment; provided that
any Principal Amount and premium, and any such installment of interest, which is
overdue shall bear interest at the rate of 3.50% per annum (or, if lower, the
maximum rate legally enforceable) from the dates such amounts are due until they
are paid or made available for payment; provided, further, that if a
Registration Default (as defined in the Registration Rights Agreement) occurs
with respect to this Security, interest will accrue on this Security at a rate
of 0.5% per annum from and including the date on which any such Registration
Default shall occur, until but excluding the date on which all Registration
Defaults have been cured. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the May 1 or November 1 (whether or not a
Business Day), as the case may be, immediately preceding such Interest Payment
Date. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Person in whose name this Security (or one
or more Predecessor Securities) is registered on such Regular Record Date and
may be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series
not less than 10 days prior to such Special Record Date, or be paid at any time
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided
in said Indenture.

     Payment of the principal of (and premium, if any) and interest, if any, on
this Security will be made at any place of payment or at the office or agency of
the Company maintained for that purpose in the Borough of Manhattan, The City of
New York, in such coin or currency of the United States as at the time of
payment is legal tender for the payment of public and private debts, provided,
however, that, payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register. Payment of interest, if any, in respect of this Security may also be
made, in the case of a Holder of at least U.S. $1,000,000 aggregate principal
amount of Securities, by wire transfer to a U.S.

                                  Exhibit A-3

Dollar account maintained by the Holder with a bank in the United States;
provided that such Holder elects payment by wire transfer by giving written
notice to the Trustee or Paying Agent to such effect designating such account no
later than 15 days immediately preceding the relevant due date for payment (or
such other date as the Trustee may accept in its discretion).

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET
FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

     Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

                                  Exhibit A-4

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

                                       MIDAMERICAN ENERGY HOLDINGS COMPANY

                                       By:
                                          -------------------------------------
                                          Name:
                                          Title:

Attest:

By:
   -------------------------------------
   Name:
   Title:

                                  Exhibit A-5

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated herein and referred
to in the within-mentioned Indenture.

                                        THE BANK OF NEW YORK,
                                          as Trustee

Dated: __________                       By:
                                           ------------------------------------
                                           Authorized Signatory

                                  Exhibit A-6

            FORM OF REVERSE OF RULE 144A GLOBAL SENIOR NOTE DUE 2008
                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

     1. GENERAL

     This Security is one of a duly authorized issue of Securities of the
Company (the "Securities"), issued and to be issued in one or more series under
an Indenture, dated as of October 4, 2002 (the "Original Indenture"), between
the Company and The Bank of New York, as trustee (the "Trustee," which term
includes any successor trustee under the Original Indenture), as supplemented by
the Second Supplemental Indenture, dated as of May 16, 2003 (together with the
Original Indenture, the "Indenture") between the Company and the Trustee, to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. Terms defined in the Indenture which are not
defined herein are used with the meanings assigned to them in the Indenture.
This Security is one of the series designated on the face hereof, limited in
aggregate principal amount to $450,000,000.

     2. OPTIONAL REDEMPTION

     The Securities of this series are subject to redemption upon not less than
30 or more than 60 days' notice to the Holders of such Securities as provided in
the Indenture, at any time, as a whole or in part, at the election of the
Company, at a redemption price equal to the greater of: (i) 100% of the
principal amount of the Securities of this series being redeemed or (ii) the sum
of the present values of the remaining scheduled payments of principal of and
interest on the Securities of this series being redeemed discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Yield plus 25
basis points, plus, for (i) or (ii) above, whichever is applicable, accrued
interest on the Securities of this series to the Redemption Date.

     "Treasury Yield" means, with respect to any Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

     "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Securities of this series to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities of this series.

     "Comparable Treasury Price" means, with respect to any Redemption Date, (i)
the average of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) on the third
Business Day in New York City preceding such Redemption Date, as set forth in
the daily statistical release (or any successor release) published by the
Federal Reserve Bank of New York and designated "Composite 3:30 p.m. Quotations
for

                                  Exhibit A-7

U.S. Government Securities" or (ii) if such release (or any successor release)
is not published or does not contain such prices on such Business Day, the
Reference Treasury Dealer Quotation for such Redemption Date.

     "Independent Investment Banker" means an investment banking institution of
international standing appointed by the Company.

     "Reference Treasury Dealer" means a primary U.S. government securities
dealer in New York City appointed by the Company.

     "Reference Treasury Dealer Quotation" means, with respect to the Reference
Treasury Dealer and any Redemption Date, the average, as determined by the
Company, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount and quoted in
writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day in New York City preceding such Redemption Date).

     Notice of redemption pursuant to this paragraph 2 shall be given as
provided for in the Indenture not less than 30 days nor more than 60 days prior
to the Redemption Date.

     If fewer than all the Securities of this series are to be redeemed,
selection of Securities of this series for redemption will be made by the
Trustee in any manner the Trustee deems fair and appropriate.

     Unless the Company defaults in payment of the Redemption Price, from and
after the Redemption Date, the Securities of this series or portions thereof
called for redemption will cease to bear interest, and the Holders thereof will
have no right in respect of such Securities of this series except the right to
receive the Redemption Price thereof.

     In the event of redemption of this Security in part only, the Trustee will
reduce the Principal Amount hereof by endorsement on Schedule A hereto such that
the Principal Amount shown on Schedule A after such endorsement will reflect
only the unredeemed portion hereof.

     3. DEFEASANCE

     The Indenture contains provisions for defeasance of (a) the entire
indebtedness of this Security and (b) certain restrictive covenants upon
compliance by the Company with certain conditions set forth therein.

     4. DEFAULTS AND REMEDIES

     If an Event of Default with respect to Securities of this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. At any time after such declaration of acceleration with respect to
Securities of this series has been made, but before a judgment or decree for
payment of money has been obtained by the Trustee as provided in the Indenture,
if all Events of Default with respect to Securities of this series have been
cured or waived (other than the non-payment of principal of the Securities of
this series which has become due solely by reason of such declaration of
acceleration) then and in every such case, the Holders of a majority

                                  Exhibit A-8

in aggregate principal amount of the Outstanding securities of such series may,
by written notice to the Company and to the Trustee, rescind and annul such
declaration and its consequences on behalf of all of the Holders, but no such
rescission or annulment shall extend to or affect any subsequent default or
impair any right consequent thereon.

     As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding, judicial
or otherwise, with respect to the Indenture, or for the appointment of a
receiver or trustee or for any other remedy thereunder, unless (a) such Holder
shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities, (b) the Holders of not less than 33% or
a majority, as applicable, in principal amount of the Securities at the time
Outstanding under the Indenture shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee, (c)
such Holder shall have offered the Trustee indemnity satisfactory to the Trustee
against the costs, expenses and liabilities to be incurred in compliance with
such request, (d) the Trustee shall not have received from the Holders of a
majority in principal amount of Securities at the time Outstanding under the
Indenture a direction inconsistent with such request and (e) the Trustee for 90
days after its receipt of such notice and offer of indemnity from the Holder,
and request from the Holders, shall have failed to institute any such
proceeding. The foregoing shall not apply to certain suits described in the
Indenture, including any suit instituted by the Holder of this Security for the
enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed herein.

     5. AMENDMENT AND WAIVER

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the Indenture or any supplemental
indenture or the rights and obligations of the Company and rights of the Holders
of the Securities of any series at any time by the Company and the Trustee with
the consent of the Holders of a majority in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture
also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest, if any, on this Security at the times, place and rate, and in the coin
or currency, herein prescribed.

                                  Exhibit A-9

     6. TRANSFER AND EXCHANGE; DENOMINATIONS

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of a Security of the series of which this Security is a part
is registrable in the Security Register, upon surrender of this Security for
registration of transfer at the office or agency of the Company in any place
where the principal of (and premium, if any) and interest, if any, on this
Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and of like tenor, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

     The Securities of the series of which this Security is a part are issuable
only in registered form, without coupons, in denominations of $1,000 and any
integral multiple of $1,000.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     7. SUCCESSOR OBLIGORS

     When a successor assumes all the obligations of its predecessor under the
Securities of this series and the Indenture in accordance with the terms of the
Indenture, the predecessor will be released from those obligations.

     8. TRUSTEE DEALINGS WITH THE COMPANY

     The Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Securities of this series and may otherwise
deal with the Company, its Subsidiaries or their respective Affiliates as if it
were not the Trustee.

     9. NO RECOURSE AGAINST OTHERS

     No stockholder, director, officer, employee, incorporator or Affiliate of
the Company shall have any liability for any obligation of the Company under the
Securities of this series or the Indenture or for any claim based on, in respect
of or by reason of, such obligations or their creation. Each Holder of the
Securities of this series by accepting a Security of this series waives and
releases all such liability. The waiver and release are part of the
consideration for the issuance of the Securities of this series.

                                  Exhibit A-10

     10. AUTHENTICATION

     This Security shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on this Security.

     11. CUSIP NUMBERS

     Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company will cause CUSIP numbers to be
printed on the Securities of this series as a convenience to the Holders of the
Securities of this series.

     12. GOVERNING LAW

     This Security shall be governed by and construed in accordance with the
laws of the State of New York, including Section 5-1401 of the New York General
Obligations Law, but otherwise without regard to the principles of conflict of
laws thereof.

     13. DEFINED TERMS

     All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

                                  Exhibit A-11

                                                                      SCHEDULE A

                            [SCHEDULE OF ADJUSTMENTS]

Initial Principal Amount: U.S.$__________________

                                   NOTIFICATION MADE                        PRINCIPAL AMOUNT      ON BEHALF OF THE
                                    PRINCIPAL AMOUNT    PRINCIPAL AMOUNT        FOLLOWING         SECURITY EXCHANGE
DATE ADJUSTMENT MADE                    INCREASE            DECREASE           ADJUSTMENT          AGENT/REGISTRAR
-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

-----------------------------     --------------------  ----------------    ----------------      -----------------

                                  Exhibit A-12

                       OPTION OF HOLDER TO ELECT PURCHASE

     If you wish to elect to have all or any portion of the Securities purchased
by the Company pursuant to a Change of Control Offer made in accordance with
Section 10.10 of the Original Indenture, check the applicable boxes:

     I wish to have the Securities purchased by the Company:

          [ ]  in whole

          [ ]  in part

          Amount to be
          purchased:    $________________

Dated:                             Signature:
      ----------------------                 -----------------------------------
                                             (sign exactly as your name appears
                                             on the other side of this Security)

Signature
Guarantee:
          ----------------------------

(Your signature must be guaranteed by a financial institution that is a member
of the Securities Transfer Agent Medallion Program ("STAMP"), the Securities
Exchange Medallion Program ("SEMP"), the New York Stock Exchange, Inc. Medallion
Signature Program ("MSP") or such other signature guarantee program as may be
determined by the Securities Registrar in addition to, or in substitution for,
STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934,
as amended.)

Social Security Number or
Taxpayer Identification Number:
                               ----------------------------------

                                  Exhibit A-13

                                                                       EXHIBIT B

                     FORM OF FACE OF REGULATION S TEMPORARY
                           GLOBAL SENIOR NOTE DUE 2008

     THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL SECURITY, AND
THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR DEFINITIVE SECURITIES,
ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN). NEITHER THE HOLDER NOR
THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL SECURITY SHALL BE
ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON.

     THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED
IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS
SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO
A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY) MAY BE
REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY DEFINITIVE SECURITY IS ISSUED IN THE NAME OR NAMES
AS DIRECTED IN WRITING BY THE DEPOSITARY, ANY TRANSFER, PLEDGE, OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL IN AS MUCH AS THE
REGISTERED OWNER HEREOF, THE DEPOSITARY, HAS AN INTEREST HEREIN.

     THIS SECURITY HAS BEEN ISSUED IN RELIANCE ON REGULATION S UNDER THE
SECURITIES ACT AND SHALL BEAR THE FOLLOWING LEGEND UNTIL REMOVABLE IN ACCORDANCE
WITH ITS TERMS AND THE TERMS OF THE INDENTURE:

     THIS SECURITY HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO OR FOR
THE ACCOUNT OR BENEFIT OF U.S. PERSONS EXCEPT AS SET FORTH IN THE FOLLOWING
SENTENCE. BY ITS ACQUISITION HEREOF, EACH OF THE HOLDER OF THIS SECURITY AND ANY
OWNERS OF INTERESTS HEREIN (1) REPRESENTS THAT IT IS A "QUALIFIED INSTITUTIONAL
BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES

                                  Exhibit B-1

ACT), (2) AGREES THAT BEGINNING FROM THE LATER OF (X) THE ORIGINAL ISSUE DATE OF
THIS SECURITY OR (Y) THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE THEREOF
WAS THE BENEFICIAL OWNER OF THIS SECURITY (OR ANY PREDECESSOR HEREOF) THROUGH
THE TIME PERIOD REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT, IT WILL NOT
RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY
AFFILIATE THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH
RULE 144A UNDER THE SECURITIES ACT, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" THAT PRIOR TO SUCH TRANSFER FURNISHED TO THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS
ON TRANSFER OF THIS SECURITY (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE
TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF
SECURITIES AT THE TIME OF TRANSFER OF LESS THAN $250,000, AN OPINION OF COUNSEL
ACCEPTABLE TO THE COMPANY THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE
SECURITIES ACT, (D) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 UNDER
THE SECURITIES ACT, (E) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY
RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (F) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL
DELIVER TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE
SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. UNLESS THE COMPANY DETERMINES
OTHERWISE IN ACCORDANCE WITH APPLICABLE LAW, THIS LEGEND WILL BE REMOVED BY THE
COMPANY (1) UPON REQUEST OF THE HOLDER, AFTER THE EXPIRATION OF THE TIME PERIOD
REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT BEGINNING FROM THE LATER OF
(A) THE ORIGINAL ISSUE DATE OF THIS SECURITY AND (B) THE LAST DATE ON WHICH THE
COMPANY OR ANY AFFILIATE THEREOF WAS THE BENEFICIAL OWNER OF THIS SECURITY (OR
ANY PREDECESSOR HEREOF) OR (2) WITH RESPECT TO SECURITIES SOLD IN RELIANCE ON
REGULATION S, FOLLOWING THE EXPIRATION OF 40 CONSECUTIVE DAYS BEGINNING ON AND
INCLUDING THE LATER OF (A) THE DAY ON WHICH INTERESTS IN THIS SECURITY ARE
OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN REGULATION S) AND (B)
THE ORIGINAL ISSUE DATE OF THIS SECURITY. AS USED HEREIN, THE TERMS "OFFSHORE
TRANSACTION," "UNITED STATES" AND "U.S. PERSON" HAVE THE MEANINGS GIVEN TO THEM
BY REGULATION S UNDER THE SECURITIES ACT.

                                  Exhibit B-2

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

                                                                   $[          ]

No. [___]                                                  CUSIP No. U59354 AC 1
                                                           ISIN No. USU59354AC15

     MIDAMERICAN ENERGY HOLDINGS COMPANY, a corporation organized under the laws
of Iowa (the "Company," which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay
to CEDE & Co., or registered assigns, the principal amount of [__________]
Dollars (such Initial Principal Amount, as it may from time to time be adjusted
by endorsement on Schedule A hereto, is hereinafter referred to as the
"Principal Amount"), on May 15, 2008, and to pay interest thereon from May 16,
2003, or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, semi-annually on May 15 and November 15 in each year,
commencing November 15, 2003, at the rate of 3.50% per annum, until the
Principal Amount hereof is paid or made available for payment; provided that any
Principal Amount and premium, and any such installment of interest, which is
overdue shall bear interest at the rate of 3.50% per annum (or, if lower, the
maximum rate legally enforceable) from the dates such amounts are due until they
are paid or made available for payment; provided, further, that if a
Registration Default (as defined in the Registration Rights Agreement) occurs
with respect to this Security, interest will accrue on this Security at a rate
of 0.5% per annum from and including the date on which any such Registration
Default shall occur, until but excluding the date on which all Registration
Defaults have been cured. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the May 1 or November 1 (whether or not a
Business Day), as the case may be, immediately preceding such Interest Payment
Date. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Person in whose name this Security (or one
or more Predecessor Securities) is registered on such Regular Record Date and
may be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series
not less than 10 days prior to such Special Record Date, or be paid at any time
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided
in said Indenture.

     Until this Regulation S Temporary Global Security is exchanged for one or
more Regulation S Permanent Global Securities, the Holder hereof shall not be
entitled to receive payments of interest hereon; until so exchanged in full,
this Regulation S Temporary Global Security shall in all other respects be
entitled to the same benefits as other Securities under the Indenture.

     Payment of the principal of (and premium, if any) and interest, if any, on
this Security will be made at any place of payment or at the office or agency of
the Company

                                  Exhibit B-3

maintained for that purpose in the Borough of Manhattan, The City of New York,
in such coin or currency of the United States as at the time of payment is legal
tender for the payment of public and private debts, provided, however, that
payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register. Payment
of interest, if any, in respect of this Security may also be made, in the case
of a Holder of at least U.S. $1,000,000 aggregate principal amount of
Securities, by wire transfer to a U.S. Dollar account maintained by the Holder
with a bank in the United States; provided that such Holder elects payment by
wire transfer by giving written notice to the Trustee or Paying Agent to such
effect designating such account no later than 15 days immediately preceding the
relevant due date for payment (or such other date as the Trustee may accept in
its discretion).

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET
FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

     Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

                                  Exhibit B-4

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

                                        MIDAMERICAN ENERGY HOLDINGS COMPANY

                                        By:
                                           -----------------------------------
                                           Name:
                                           Title:

Attest:

By:
   -----------------------------------
   Name:
   Title:

                                  Exhibit B-5

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated herein and referred
to in the within-mentioned Indenture.

                                        THE BANK OF NEW YORK,
                                          as Trustee

Dated:                                  By:
      ------------------                   ------------------------------------
                                           Authorized Signatory

                                   Exhibit B-6

                    FORM OF REVERSE OF REGULATION S TEMPORARY
                           GLOBAL SENIOR NOTE DUE 2008

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

     1. GENERAL

     This Security is one of a duly authorized issue of securities of the
Company (the "Securities"), issued and to be issued in one or more series under
an Indenture, dated as of October 4, 2002 (the "Original Indenture"), between
the Company and The Bank of New York as trustee (the "Trustee," which term
includes any successor trustee under the Original Indenture), as supplemented by
the Second Supplemental Indenture, dated as of May 16, 2003 (together with the
Original Indenture, the "Indenture") between the Company and the Trustee, to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. Terms defined in the Indenture which are not
defined herein are used with the meanings assigned to them in the Indenture.
This Security is one of the series designated on the face hereof, limited in
aggregate principal amount to $450,000,000.

     2. OPTIONAL REDEMPTION

     The Securities of this series are subject to redemption upon not less than
30 or more than 60 days' notice to the Holders of such Securities as provided in
the Indenture, at any time, as a whole or in part, at the election of the
Company, at a redemption price equal to the greater of: (i) 100% of the
principal amount of the Securities of this series being redeemed or (ii) the sum
of the present values of the remaining scheduled payments of principal of and
interest on the Securities of this series being redeemed discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Yield plus 25
basis points, plus, for (i) or (ii) above, whichever is applicable, accrued
interest on the Securities of this series to the Redemption Date.

     "Treasury Yield" means, with respect to any Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

     "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Securities of this series to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities of this series.

     "Comparable Treasury Price" means, with respect to any Redemption Date, (i)
the average of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) on the third
Business Day in New York City preceding such Redemption Date, as set forth in
the daily statistical release (or any successor release) published

                                   Exhibit B-7

by the Federal Reserve Bank of New York and designated "Composite 3:30 p.m.
Quotations for U.S. Government Securities" or (ii) if such release (or any
successor release) is not published or does not contain such prices on such
Business Day, the Reference Treasury Dealer Quotation for such Redemption Date.

     "Independent Investment Banker" means an investment banking institution of
international standing appointed by the Company.

     "Reference Treasury Dealer" means a primary U.S. government securities
dealer in New York City appointed by the Company.

     "Reference Treasury Dealer Quotation" means, with respect to the Reference
Treasury Dealer and any Redemption Date, the average, as determined by the
Company, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount and quoted in
writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day in New York City preceding such Redemption Date).

     Notice of redemption pursuant to this paragraph 2 shall be given as
provided for in the Indenture not less than 30 days nor more than 60 days prior
to the Redemption Date.

     If fewer than all the Securities of this series are to be redeemed,
selection of Securities of this series for redemption will be made by the
Trustee in any manner the Trustee deems fair and appropriate.

     Unless the Company defaults in payment of the Redemption Price, from and
after the Redemption Date, the Securities of this series or portions thereof
called for redemption will cease to bear interest, and the Holders thereof will
have no right in respect of such Securities of this series except the right to
receive the Redemption Price thereof.

     In the event of redemption of this Security in part only, the Trustee will
reduce the Principal Amount hereof by endorsement on Schedule A hereto such that
the Principal Amount shown on Schedule A after such endorsement will reflect
only the unredeemed portion hereof.

     3. DEFEASANCE

     The Indenture contains provisions for defeasance of (a) the entire
indebtedness of this Security and (b) certain restrictive covenants upon
compliance by the Company with certain conditions set forth therein.

     4. DEFAULTS AND REMEDIES

     If an Event of Default with respect to Securities of this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. At any time after such declaration of acceleration with respect to
Securities of this series has been made, but before a judgment or decree for
payment of money has been obtained by the Trustee as provided in the Indenture,
if all Events of Default with respect to Securities of this series have been
cured or waived (other than the non-payment of principal of the Securities of
this series which has become due solely by

                                   Exhibit B-8

reason of such declaration of acceleration) then, and in every such case, the
Holders of a majority in aggregate principal amount of the Outstanding
securities under the Indenture may, by written notice to the Company and to the
Trustee, rescind and annul such declaration and its consequences on behalf of
all of the Holders, but no such rescission or annulment shall extend to or
affect any subsequent default or impair any right consequent thereon.

     As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding, judicial
or otherwise, with respect to the Indenture, or for the appointment of a
receiver, or trustee or for any other remedy thereunder, unless (a) such Holder
shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the securities, (b) the Holders of not less than 33% or
a majority, as applicable, in principal amount of the Securities at the time
Outstanding under the Indenture shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee, (c)
such Holder shall have offered the Trustee indemnity satisfactory to the Trustee
against the costs, expenses and liabilities to be incurred in compliance with
such request, (d) the Trustee shall not have received from the Holders of a
majority in principal amount of Securities at the time Outstanding under the
Indenture a direction inconsistent with such request and (e) the Trustee for 90
days after its receipt of such notice and offer of indemnity from the Holder,
and request from the Holders, shall have failed to institute any such
proceeding. The foregoing shall not apply to certain suits described in the
Indenture, including any suit instituted by the Holder of this Security for the
enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed herein.

     5. AMENDMENT AND WAIVER

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the Indenture or any supplemental
indenture or the rights and obligations of the Company and rights of the Holders
of the Securities of any series at any time by the Company and the Trustee with
the consent of the Holders of a majority in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture
also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest, if any, on this Security at the times, place and rate, and in the coin
or currency, herein prescribed.

                                   Exhibit B-9

     6. TRANSFER AND EXCHANGE; DENOMINATIONS

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of a Security of the series of which this Security is a part
is registrable in the Security Register, upon surrender of this Security for
registration of transfer at the office or agency of the Company in any place
where the principal of (and premium, if any) and interest, if any, on this
Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and of like tenor, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

     The Securities of the series of which this Security is a part are issuable
only in registered form, without coupons, in denominations of $1,000 and any
integral multiple of $1,000.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     This Regulation S Temporary Global Security is exchangeable in whole or in
part for one or more Global Securities only (i) on or after the termination of
the 40-day distribution compliance period (as defined in Regulation S) and (ii)
upon presentation of certificates (accompanied by an Opinion of Counsel, if
applicable) required by Article 2 of the Indenture. Upon exchange of this
Regulation S Temporary Global Security for one or more Global Securities, the
Trustee shall cancel this Regulation S Temporary Global Security.

     7. SUCCESSOR OBLIGORS

     When a successor assumes all the obligations of its predecessor under the
Securities of this series and the Indenture in accordance with the terms of the
Indenture, the predecessor will be released from those obligations.

     8. TRUSTEE DEALINGS WITH THE COMPANY

     The Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Securities of this series and may otherwise
deal with the Company, its Subsidiaries or their respective Affiliates as if it
were not the Trustee.

                                   Exhibit B-10

     9. NO RECOURSE AGAINST OTHERS

     No stockholder, director, officer, employee, incorporator or Affiliate of
the Company shall have any liability for any obligation of the Company under the
Securities of this series or the Indenture or for any claim based on, in respect
of or by reason of, such obligations or their creation. Each Holder of the
Securities of this series by accepting a Security of this series waives and
releases all such liability. The waiver and release are part of the
consideration for the issuance of the Securities of this series.

     10. AUTHENTICATION

     This Security shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on this Security.

     11. ISIN NUMBER

     This Security will bear an ISIN number. No representation is made as to the
accuracy of such number as printed on the Securities of this series and reliance
may be placed only on the other identification numbers printed hereon.

     12. GOVERNING LAW

     This Security shall be governed by and construed in accordance with the
laws of the State of New York, including Section 5-1401 of the New York General
Obligations Law, but otherwise without regard to the principles of conflict of
laws thereof.

     13. DEFINED TERMS

     All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

                                   Exhibit B-11

                                                                      SCHEDULE A

                             SCHEDULE OF ADJUSTMENTS

Initial Principal Amount: U.S.$[__________________]

                            NOTATION MADE                          PRINCIPAL AMOUNT      ON BEHALF OF THE
                          PRINCIPAL AMOUNT    PRINCIPAL AMOUNT         FOLLOWING         SECURITY EXCHANGE
DATE ADJUSTMENT MADE          INCREASE            DECREASE            ADJUSTMENT          AGENT/REGISTRAR
--------------------      ----------------    ----------------     -----------------     ------------------

--------------------      ----------------    ----------------     -----------------     ------------------

--------------------      ----------------    ----------------     -----------------     ------------------

--------------------      ----------------    ----------------     -----------------     ------------------

--------------------      ----------------    ----------------     -----------------     ------------------

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                                   Exhibit B-12

                       OPTION OF HOLDER TO ELECT PURCHASE

     If you wish to elect to have all or any portion of the Securities purchased
by the Company pursuant to a Change of Control Offer made in accordance with
Section 10.10 of the Original Indenture, check the applicable boxes:

     I wish to have the Securities purchased by the Company:

          [ ]  in whole

          [ ]  in part

          Amount to be
          purchased:    $________________

Dated:                             Signature:
      ----------------------                 -----------------------------------
                                             (sign exactly as your name appears
                                             on the other side of this Security)

Signature
Guarantee:        ______________________________

(Your signature must be guaranteed by a financial institution that is a member
of the Securities Transfer Agent Medallion Program ("STAMP"), the Securities
Exchange Medallion Program ("SEMP"), the New York Stock Exchange, Inc. Medallion
Signature Program ("MSP") or such other signature guarantee program as may be
determined by the Securities Registrar in addition to, or in substitution for,
STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934,
as amended.)

Social Security Number or
Taxpayer Identification Number:
                               ----------------------------------

                                   Exhibit B-13

                                                                       EXHIBIT C

                     FORM OF FACE OF REGULATION S PERMANENT
                           GLOBAL SENIOR NOTE DUE 2008

     THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED
IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS
SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO
A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY) MAY BE
REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.

     UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY DEFINITIVE SECURITY IS ISSUED IN THE NAME OR NAMES
AS DIRECTED IN WRITING BY THE DEPOSITARY, ANY TRANSFER, PLEDGE, OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL IN AS MUCH AS THE
REGISTERED OWNER HEREOF, THE DEPOSITARY, HAS AN INTEREST HEREIN.

                                   Exhibit C-1

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

                                                                   $[          ]

No. [___]                                                  CUSIP No. U59354 AC 1
                                                           ISIN No. USU59354AC15

     MIDAMERICAN ENERGY HOLDINGS COMPANY, a corporation organized under the laws
of Iowa (the "Company," which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay
to CEDE & Co., or registered assigns, the principal amount of [__________]
Dollars (such Initial Principal Amount, as it may from time to time be adjusted
by endorsement on Schedule A hereto, is hereinafter referred to as the
"Principal Amount"), on May 15, 2008, and to pay interest thereon from May 16,
2003, or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, semi-annually on May 15 and November 15 in each year,
commencing November 15, 2003 at the rate of 3.50% per annum until the Principal
Amount hereof is paid or made available for payment; provided that any Principal
Amount and premium, and any such installment of interest, which is overdue shall
bear interest at the rate of 3.50% per annum (or, if lower, the maximum rate
legally enforceable) from the dates such amounts are due until they are paid or
made available for payment; provided, further, that if a Registration Default
(as defined in the Registration Rights Agreement) occurs with respect to this
Security, interest will accrue on this Security at a rate of 0.5% per annum from
and including the date on which any such Registration Default shall occur, until
but excluding the date on which all Registration Defaults have been cured. The
interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in such Indenture, be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest, which shall be
the May 1 or November 1 (whether or not a Business Day), as the case may be,
immediately preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the
Person in whose name this Security (or one or more Predecessor Securities) is
registered on such Regular Record Date and may be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of
Securities of this series not less than 10 days prior to such Special Record
Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture.

     Payment of the principal of (and premium, if any) and interest, if any, on
this Security will be made at any place of payment or at the office or agency of
the Company maintained for that purpose in the Borough of Manhattan, The City of
New York, in such coin or currency of the United States as at the time of
payment is legal tender for the payment of public and private debts, provided,
however, that payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register. Payment of interest, if any, in respect of this Security may also be
made, in the case of a Holder of at least U.S. $1,000,000 aggregate principal
amount of Securities, by wire transfer to a U.S.

                                   Exhibit C-3

Dollar account maintained by the Holder with a bank in the United States;
provided that such Holder elects payment by wire transfer by giving written
notice to the Trustee or Paying Agent to such effect designating such account no
later than 15 days immediately preceding the relevant due date for payment (or
such other date as the Trustee may accept in its discretion).

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET
FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

     Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

                                   Exhibit C-4

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

                                   MIDAMERICAN ENERGY HOLDINGS COMPANY

                                   By:
                                      ---------------------------------------
                                      Name:
                                      Title:

Attest:

By:
   ---------------------------------------
   Name:
   Title:

                                   Exhibit C-5

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated herein and referred
to in the within-mentioned Indenture.

                                        THE BANK OF NEW YORK,
                                          as Trustee

Dated:                                 By:
      ----------------------              -----------------------------------
                                           Authorized Signatory

                                   Exhibit C-6

                    FORM OF REVERSE OF REGULATION S PERMANENT
                           GLOBAL SENIOR NOTE DUE 2008

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

     1. GENERAL

     This Security is one of a duly authorized issue of securities of the
Company (the "Securities"), issued and to be issued in one or more series under
an Indenture, dated as of October 4, 2002 (the "Original Indenture"), between
the Company and The Bank of New York as trustee (the "Trustee," which term
includes any successor trustee under the Original Indenture), as supplemented by
the Second Supplemental Indenture, dated as of May 16, 2003 (together with the
Original Indenture, the "Indenture") between the Company and the Trustee, to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. Terms defined in the Indenture which are not
defined herein are used with the meanings assigned to them in the Indenture.
This Security is one of the series designated on the face hereof, limited in
aggregate principal amount to $450,000,000.

     2. OPTIONAL REDEMPTION

     The Securities of this series are subject to redemption upon not less than
30 or more than 60 days' notice to the Holders of such Securities as provided in
the Indenture, at any time, as a whole or in part, at the election of the
Company at any time, at a redemption price equal to the greater of: (i) 100% of
the principal amount of the Securities of this series being redeemed or (ii) the
sum of the present values of the remaining scheduled payments of principal of
and interest on the Securities of this series being redeemed discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Yield plus 25
basis points, plus, for (i) or (ii) above, whichever is applicable, accrued
interest on the Securities of this series to the Redemption Date.

     "Treasury Yield" means, with respect to any Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

     "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Securities of this series to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities of this series.

     "Comparable Treasury Price" means, with respect to any Redemption Date, (i)
the average of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) on the third
Business Day in New York City preceding such Redemption Date, as set forth in
the daily statistical release (or any successor release) published

                                   Exhibit C-7

by the Federal Reserve Bank of New York and designated "Composite 3:30 p.m.
Quotations for U.S. Government Securities" or (ii) if such release (or any
successor release) is not published or does not contain such prices on such
Business Day, the Reference Treasury Dealer Quotation for such Redemption Date.

     "Independent Investment Banker" means an investment banking institution of
international standing appointed by the Company.

     "Reference Treasury Dealer" means a primary U.S. government securities
dealer in New York City appointed by the Company.

     "Reference Treasury Dealer Quotation" means, with respect to the Reference
Treasury Dealer and any Redemption Date, the average, as determined by the
Company, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount and quoted in
writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day in New York City preceding such Redemption Date).

     Notice of redemption pursuant to this paragraph 2 shall be given as
provided for in the Indenture not less than 30 days nor more than 60 days prior
to the Redemption Date.

     If fewer than all the Securities of this series are to be redeemed,
selection of Securities of this series for redemption will be made by the
Trustee in any manner the Trustee deems fair and appropriate.

     Unless the Company defaults in payment of the Redemption Price, from and
after the Redemption Date, the Securities of this series or portions thereof
called for redemption will cease to bear interest, and the Holders thereof will
have no right in respect of such Securities of this series except the right to
receive the Redemption Price thereof.

     In the event of redemption of this Security in part only, the Trustee will
reduce the Principal Amount hereof by endorsement on Schedule A hereto such that
the Principal Amount shown on Schedule A after such endorsement will reflect
only the unredeemed portion hereof.

     3. DEFEASANCE

     The Indenture contains provisions for defeasance of (a) the entire
indebtedness of this Security and (b) certain restrictive covenants upon
compliance by the Company with certain conditions set forth therein.

     4. DEFAULTS AND REMEDIES

     If an Event of Default with respect to Securities of this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. At any time after such declaration of acceleration with respect to
Securities of this series has been made, but before a judgment or decree for
payment of money has been obtained by the Trustee as provided in the Indenture,
if all Events of Default with respect to Securities of this series have been
cured or waived (other than the non-payment of principal of the Securities of
this series which has become due solely by

                                   Exhibit C-8

reason of such declaration of acceleration) then, and in every such case, the
Holders of a majority in aggregate principal amount of the Outstanding
securities of such series may, by written notice to the Company and to the
Trustee, rescind and annul such declaration and its consequences on behalf of
all of the Holders, but no such rescission or annulment shall extend to or
affect any subsequent default or impair any right consequent thereon.

     As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding, judicial
or otherwise, with respect to the Indenture, or for the appointment of a
receiver, or trustee or for any other remedy thereunder, unless (a) such Holder
shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the securities, (b) the Holders of not less than 33% or
a majority, as applicable, in principal amount of the Securities at the time
Outstanding under the Indenture shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee, (c)
such Holder shall have offered the Trustee indemnity satisfactory to the Trustee
against the costs, expenses and liabilities to be incurred in compliance with
such request, (d) the Trustee shall not have received from the Holders of a
majority in principal amount of Securities at the time Outstanding under the
Indenture a direction inconsistent with such request and (e) the Trustee for 90
days after its receipt of such notice and offer of indemnity from the Holder,
and request from the Holders shall have failed to institute any such proceeding.
The foregoing shall not apply to certain suits described in the Indenture,
including any suit instituted by the Holder of this Security for the enforcement
of any payment of principal hereof or any premium or interest hereon on or after
the respective due dates expressed herein.

     5. AMENDMENT AND WAIVER

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the Indenture or any supplemental
indenture or the rights and obligations of the Company and rights of the Holders
of the Securities of any series at any time by the Company and the Trustee with
the consent of the Holders of a majority in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture
also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest, if any, on this Security at the times, place and rate, and in the coin
or currency, herein prescribed.

                                   Exhibit C-9

     6. TRANSFER AND EXCHANGE; DENOMINATIONS

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of a Security of the series of which this Security is a part
is registrable in the Security Register, upon surrender of this Security for
registration of transfer at the office or agency of the Company in any place
where the principal of (and premium, if any) and interest, if any, on this
Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and like tenor, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

     The Securities of the series of which this Security is a part are issuable
only in registered form, without coupons, in denominations of $1,000 and any
integral multiple of $1,000.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     7. SUCCESSOR OBLIGORS

     When a successor assumes all the obligations of its predecessor under the
Securities of this series and the Indenture in accordance with the terms of the
Indenture, the predecessor will be released from those obligations.

     8. TRUSTEE DEALINGS WITH THE COMPANY

     The Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Securities of this series and may otherwise
deal with the Company, its Subsidiaries or their respective Affiliates as if it
were not the Trustee.

     9. NO RECOURSE AGAINST OTHERS

     No stockholder, director, officer, employee, incorporator or Affiliate of
the Company shall have any liability for any obligation of the Company under the
Securities of this series or the Indenture or for any claim based on, in respect
of or by reason of, such obligations or their creation. Each Holder of the
Securities of this series by accepting a Security of this series waives and
releases all such liability. The waiver and release are part of the
consideration for the issuance of the Securities of this series.

                                   Exhibit C-10

     10. AUTHENTICATION

     This Security shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on this Security.

     11. ISIN NUMBER

     This Security will bear an ISIN number. No representation is made as to the
accuracy of such number as printed on the Securities of this series and reliance
may be placed only on the other identification numbers printed hereon.

     12. GOVERNING LAW

     This Security shall be governed by and construed in accordance with the
laws of the State of New York, including Section 5-1401 of the New York General
Obligations Law, but otherwise without regard to the principles of conflict of
laws thereof.

     13. DEFINED TERMS

     All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

                                   Exhibit C-11

                                                                      SCHEDULE A

                             SCHEDULE OF ADJUSTMENTS

Initial Principal Amount: U.S.$[__________________]

                          NOTATION MADE                          PRINCIPAL AMOUNT      ON BEHALF OF THE
                        PRINCIPAL AMOUNT    PRINCIPAL AMOUNT         FOLLOWING         SECURITY EXCHANGE
DATE ADJUSTMENT MADE        INCREASE            DECREASE            ADJUSTMENT          AGENT/REGISTRAR
--------------------    ----------------    ----------------     ----------------      -----------------

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                                   Exhibit C-12

                       OPTION OF HOLDER TO ELECT PURCHASE

     If you wish to elect to have all or any portion of the Securities purchased
by the Company pursuant to a Change of Control Offer made in accordance with
Section 10.10 of the Original Indenture, check the applicable boxes:

     I wish to have the Securities purchased by the Company:

          [ ]  in whole

          [ ]  in part

          Amount to be
          purchased:    $________________

Dated:                             Signature:
      -----------------------                -----------------------------------
                                             (sign exactly as your name appears
                                             on the other side of this Security)

Signature
Guarantee:        ______________________________

(Your signature must be guaranteed by a financial institution that is a member
of the Securities Transfer Agent Medallion Program ("STAMP"), the Securities
Exchange Medallion Program ("SEMP"), the New York Stock Exchange, Inc. Medallion
Signature Program ("MSP") or such other signature guarantee program as may be
determined by the Securities Registrar in addition to, or in substitution for,
STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934,
as amended.)

Social Security Number or
Taxpayer Identification Number:
                               ----------------------------------

                                   Exhibit C-13

                                                                       EXHIBIT D

                      FORM OF FACE OF RESTRICTED DEFINITIVE
                              SENIOR NOTE DUE 2008

     THIS SECURITY HAS INITIALLY BEEN RESOLD TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" (AS DESCRIBED BY RULE 501(a)(1), (2), (3) or (7) UNDER THE SECURITIES
ACT) IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT AND
SHALL BEAR THE FOLLOWING LEGEND UNTIL REMOVABLE IN ACCORDANCE WITH ITS TERMS AND
THE TERMS OF THE INDENTURE:

     THIS SECURITY HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO OR FOR
THE ACCOUNT OR BENEFIT OF U.S. PERSONS EXCEPT AS SET FORTH IN THE FOLLOWING
SENTENCE. BY ITS ACQUISITION HEREOF, EACH OF THE HOLDER OF THIS SECURITY AND ANY
OWNERS OF INTERESTS HEREIN (1) REPRESENTS THAT IT IS A "QUALIFIED INSTITUTIONAL
BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (2) AGREES THAT
BEGINNING FROM THE LATER OF (X) THE ORIGINAL ISSUE DATE OF THIS SECURITY OR (Y)
THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE THEREOF WAS THE BENEFICIAL
OWNER OF THIS SECURITY (OR ANY PREDECESSOR HEREOF) THROUGH THE TIME PERIOD
REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT, IT WILL NOT RESELL OR
OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY AFFILIATE
THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A
UNDER THE SECURITIES ACT, (C) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" THAT
PRIOR TO SUCH TRANSFER FURNISHED TO THE TRUSTEE A SIGNED LETTER CONTAINING
CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER
OF THIS SECURITY (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE)
AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF
SECURITIES AT THE TIME OF TRANSFER OF LESS THAN $250,000, AN OPINION OF COUNSEL
ACCEPTABLE TO THE COMPANY THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE
SECURITIES ACT, (D) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 UNDER
THE SECURITIES ACT, (E) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY
RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (F) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL
DELIVER TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE
SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. UNLESS THE COMPANY DETERMINES
OTHERWISE IN ACCORDANCE WITH APPLICABLE LAW, THIS LEGEND WILL BE REMOVED BY THE
COMPANY (1) UPON REQUEST OF THE HOLDER, AFTER THE EXPIRATION OF THE TIME PERIOD
REFERRED TO IN RULE 144(K) UNDER THE SECURITIES ACT BEGINNING FROM THE LATER OF
(A) THE ORIGINAL ISSUE DATE OF THIS SECURITY AND (B) THE LAST DATE ON WHICH THE
COMPANY OR ANY AFFILIATE THEREOF WAS THE BENEFICIAL OWNER OF

                                   Exhibit D-1

THIS SECURITY (OR ANY PREDECESSOR HEREOF) OR (2) WITH RESPECT TO SECURITIES SOLD
IN RELIANCE ON REGULATION S, FOLLOWING THE EXPIRATION OF 40 CONSECUTIVE DAYS
BEGINNING ON AND INCLUDING THE LATER OF (A) THE DAY ON WHICH INTERESTS IN THIS
SECURITY ARE OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN
REGULATION S) AND (B) THE ORIGINAL ISSUE DATE OF THIS SECURITY. AS USED HEREIN,
THE TERMS "OFFSHORE TRANSACTION," "UNITED STATES" AND "U.S. PERSON" HAVE THE
MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.

                                   Exhibit D-2

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

                                                                $[             ]

No. [__]                                                  CUSIP No. [__________]
                                                           ISIN No. [__________]

     MIDAMERICAN ENERGY HOLDINGS COMPANY, a corporation organized under the laws
of Iowa (herein called the "Company," which term includes any successor
corporation under the Indenture hereinafter referred to), for value received,
hereby promises to pay to [name of registered owner or its registered assigns]
the principal sum of ___________ Dollars (the "Principal Amount") on May 15,
2008, and to pay interest thereon from May 16, 2003, or from the most recent
Interest Payment Date to which interest has been paid or duly provided for,
semi-annually on May 15 and November 15 in each year, commencing November 15,
2003, at the rate of 3.50% per annum, until the Principal Amount hereof is paid
or made available for payment; provided that any Principal Amount and premium,
and any such installment of interest, which is overdue shall bear interest at
the rate of 3.50% per annum (or, if lower, the maximum rate legally enforceable)
from the dates such amounts are due until they are paid or made available for
payment; provided, further, that if a Registration Default (as defined in the
Registration Rights Agreement) occurs with respect to this Security, interest
will accrue on this Security at a rate of 0.5% per annum from and including the
date on which any such Registration Default shall occur, until but excluding the
date on which all Registration Defaults have been cured. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in such Indenture, be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest, which shall be the May 1
or November 1 (whether or not a Business Day), as the case may be, immediately
preceding such Interest Payment Date. Any such interest not so punctually paid
or duly provided for will forthwith cease to be payable to the Person in whose
name this Security (or one or more Predecessor Securities) is registered on such
Regular Record Date and may be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture.

     Payment of the principal of (and premium, if any) and interest, if any, on
this Security will be made at any place of payment or at the office or agency of
the Company maintained for that purpose in the Borough of Manhattan, The City of
New York, in such coin or currency of the United States as at the time of
payment is legal tender for the payment of public and private debts, provided,
however, that, payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register. Payment of interest, if any, in respect of this Security may also be
made, in the case of a Holder of at least U.S. $1,000,000 aggregate principal
amount of Securities, by wire transfer to a U.S. Dollar account maintained by
the Holder with a bank in the United States; provided that such

                                   Exhibit D-3

Holder elects payment by wire transfer by giving written notice to the Trustee
or Paying Agent to such effect designating such account no later than 15 days
immediately preceding the relevant due date for payment (or such other date as
the Trustee may accept in its discretion).

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET
FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

     Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

                                   Exhibit D-4

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

                                      MIDAMERICAN ENERGY HOLDINGS COMPANY

                                      By:
                                         -------------------------------------
                                         Name:
                                         Title:

Attest:

By:
   -------------------------------------
   Name:
   Title:

                                   Exhibit D-5

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated herein and referred
to in the within-mentioned Indenture.

                                        THE BANK OF NEW YORK,
                                          as Trustee

Dated: __________                       By:
                                           -------------------------------------
                                           Authorized Signatory

                                   Exhibit D-6

          FORM OF REVERSE OF RESTRICTED DEFINITIVE SENIOR NOTE DUE 2008
                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

     1. GENERAL

     This Security is one of a duly authorized issue of Securities of the
Company (the "Securities"), issued and to be issued in one or more series under
an Indenture, dated as of October 4, 2002 (the "Original Indenture"), between
the Company and The Bank of New York, as trustee (the "Trustee," which term
includes any successor trustee under the Original Indenture), as supplemented by
the Second Supplemental Indenture, dated as of May 16, 2003 (together with the
Original Indenture, the "Indenture") between the Company and the Trustee, to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. Terms defined in the Indenture which are not
defined herein are used with the meanings assigned to them in the Indenture.
This Security is one of the series designated on the face hereof, limited in
aggregate principal amount to $450,000,000.

     2. OPTIONAL REDEMPTION

     The Securities of this series are subject to redemption upon not less than
30 or more than 60 days' notice to the Holders of such Securities as provided in
the Indenture, at any time, as a whole or in part, at the election of the
Company, at a redemption price equal to the greater of: (i) 100% of the
principal amount of the Securities of this series being redeemed or (ii) the sum
of the present values of the remaining scheduled payments of principal of and
interest on the Securities of this series being redeemed discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Yield plus 25
basis points, plus, for (i) or (ii) above, whichever is applicable, accrued
interest on the Securities of this series to the Redemption Date.

     "Treasury Yield" means, with respect to any Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

     "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Securities of this series to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities of this series.

     "Comparable Treasury Price" means, with respect to any Redemption Date, (i)
the average of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) on the third
Business Day in New York City preceding such Redemption Date, as set forth in
the daily statistical release (or any successor release) published by the
Federal Reserve Bank of New York and designated "Composite 3:30 p.m. Quotations
for

                                   Exhibit D-7

U.S. Government Securities" or (ii) if such release (or any successor release)
is not published or does not contain such prices on such Business Day, the
Reference Treasury Dealer Quotation for such Redemption Date.

     "Independent Investment Banker" means an investment banking institution of
international standing appointed by the Company.

     "Reference Treasury Dealer" means a primary U.S. government securities
dealer in New York City appointed by the Company.

     "Reference Treasury Dealer Quotation" means, with respect to the Reference
Treasury Dealer and any Redemption Date, the average, as determined by the
Company, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount and quoted in
writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day in New York City preceding such Redemption Date).

     Notice of redemption pursuant to this paragraph 2 shall be given as
provided for in the Indenture not less than 30 days nor more than 60 days prior
to the Redemption Date.

     If fewer than all the Securities of this series are to be redeemed,
selection of Securities of this series for redemption will be made by the
Trustee in any manner the Trustee deems fair and appropriate.

     Unless the Company defaults in payment of the Redemption Price, from and
after the Redemption Date, the Securities of this series or portions thereof
called for redemption will cease to bear interest, and the Holders thereof will
have no right in respect of such Securities of this series except the right to
receive the Redemption Price thereof.

     3. DEFEASANCE

     The Indenture contains provisions for defeasance of (a) the entire
indebtedness of this Security and (b) certain restrictive covenants upon
compliance by the Company with certain conditions set forth therein.

     4. DEFAULTS AND REMEDIES

     If an Event of Default with respect to Securities of this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. At any time after such declaration of acceleration with respect to
Securities of this series has been made, but before a judgment or decree for
payment of money has been obtained by the Trustee as provided in the Indenture,
if all Events of Default with respect to Securities of this series have been
cured or waived (other than the non-payment of principal of the Securities of
this series which has become due solely by reason of such declaration of
acceleration) then and in every such case, the Holders of a majority in
aggregate principal amount of the Outstanding securities of such series may, by
written notice to the Company and to the Trustee, rescind and annul such
declaration and its consequences on behalf of all of the Holders, but no such
rescission or annulment shall extend to or affect any subsequent default or
impair any right consequent thereon.

                                   Exhibit D-8

     As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding, judicial
or otherwise, with respect to the Indenture, or for the appointment of a
receiver or trustee or for any other remedy thereunder, unless (a) such Holder
shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities, (b) the Holders of not less than 33% or
a majority, as applicable, in principal amount of the Securities at the time
Outstanding under the Indenture shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee, (c)
such Holder shall have offered the Trustee indemnity satisfactory to the Trustee
against the costs, expenses and liabilities to be incurred in compliance with
such request, (d) the Trustee shall not have received from the Holders of a
majority in principal amount of Securities at the time Outstanding under the
Indenture a direction inconsistent with such request and (e) the Trustee for 90
days after its receipt of such notice and offer of indemnity from the Holder,
and request from the Holders, shall have failed to institute any such
proceeding. The foregoing shall not apply to certain suits described in the
Indenture, including any suit instituted by the Holder of this Security for the
enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed herein.

     5. AMENDMENT AND WAIVER

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the Indenture or any supplemental
indenture or the rights and obligations of the Company and rights of the Holders
of the Securities of any series at any time by the Company and the Trustee with
the consent of the Holders of a majority in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture
also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest, if any, on this Security at the times, place and rate, and in the coin
or currency, herein prescribed.

     6. TRANSFER AND EXCHANGE; DENOMINATIONS

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of a Security is registrable in the Security Register, upon
surrender of this Security for registration of transfer at the office or agency
of the Company in any place where the principal of (and premium, if any) and
interest, if any, on this Security are payable, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly

                                   Exhibit D-9

authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

     The Securities of the series of which this Security is a part are issuable
only in registered form, without coupons, in denominations of $1,000 and any
integral multiple of $1,000.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     7. SUCCESSOR OBLIGORS

     When a successor assumes all the obligations of its predecessor under the
Securities of this series and the Indenture in accordance with the terms of the
Indenture, the predecessor will be released from those obligations.

     8. TRUSTEE DEALINGS WITH THE COMPANY

     The Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Securities of this series and may otherwise
deal with the Company, its Subsidiaries or their respective Affiliates as if it
were not the Trustee.

     9. NO RECOURSE AGAINST OTHERS

     No stockholder, director, officer, employee, incorporator or Affiliate of
the Company shall have any liability for any obligation of the Company under the
Securities of this series or the Indenture or for any claim based on, in respect
of or by reason of, such obligations or their creation. Each Holder of the
Securities of this series by accepting a Security of this series waives and
releases all such liability. The waiver and release are part of the
consideration for the issuance of the Securities of this series.

     10. AUTHENTICATION

     This Security shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on this Security.

                                   Exhibit D-10

     11. CUSIP NUMBERS

     Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company will cause CUSIP numbers to be
printed on the Securities of this series as a convenience to the Holders of the
Securities of this series.

     12. GOVERNING LAW

     This Security shall be governed by and construed in accordance with the
laws of the State of New York, including Section 5-1401 of the New York General
Obligations Law, but otherwise without regard to the principles of conflict of
laws thereof.

     13. DEFINED TERMS

     All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

                                   Exhibit D-11

                       OPTION OF HOLDER TO ELECT PURCHASE

     If you wish to elect to have all or any portion of the Securities purchased
by the Company pursuant to a Change of Control Offer made in accordance with
Section 10.10 of the Original Indenture, check the applicable boxes:

     I wish to have the Securities purchased by the Company:

          [ ]  in whole

          [ ]  in part

          Amount to be
          purchased:    $________________

Dated:                            Signature:
      ---------------------                 ------------------------------------
                                             (sign exactly as your name appears
                                             on the other side of this Security)

Signature
Guarantee:        ______________________________

(Your signature must be guaranteed by a financial institution that is a member
of the Securities Transfer Agent Medallion Program ("STAMP"), the Securities
Exchange Medallion Program ("SEMP"), the New York Stock Exchange, Inc. Medallion
Signature Program ("MSP") or such other signature guarantee program as may be
determined by the Securities Registrar in addition to, or in substitution for,
STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934,
as amended.)

Social Security Number or
Taxpayer Identification Number:
                               ----------------------------------

                                   Exhibit D-12

                                                                       EXHIBIT E

                  FORM OF FACE OF SENIOR EXCHANGE NOTE DUE 2008
                        OR PRIVATE EXCHANGE NOTE DUE 2008

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

                                                                $[             ]

No. [__]                                                   CUSIP No. 59562V AH 0
                                                           ISIN No. US59562VAH06

     MIDAMERICAN ENERGY HOLDINGS COMPANY, a corporation organized under the laws
of Iowa (the "Company," which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay
to CEDE & Co., or registered assigns, the principal amount of [________] Dollars
(such Initial Principal Amount, as it may from time to time be adjusted by
endorsement on Schedule A hereto, is hereinafter referred to as the "Principal
Amount") on May 15, 2008, and to pay interest thereon from May 16, 2003, or from
the most recent Interest Payment Date to which interest has been paid or duly
provided for, semi-annually on May 15 and November 15 in each year, commencing
November 15, 2003, at the rate of 3.50% per annum, until the Principal Amount
hereof is paid or made available for payment; provided that any Principal Amount
and premium, and any such installment of interest, which is overdue shall bear
interest at the rate of 3.50% per annum (or, if lower, the maximum rate legally
enforceable) from the dates such amounts are due until they are paid or made
available for payment. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the May 1 or November 1 (whether or not a
Business Day), as the case may be, immediately preceding such Interest Payment
Date. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Person in whose name this Security (or one
or more Predecessor Securities) is registered on such Regular Record Date and
may be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series
not less than 10 days prior to such Special Record Date, or be paid at any time
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided
in said Indenture.

     Payment of the principal of (and premium, if any) and interest, if any, on
this Security will be made at any place of payment or at the office or agency of
the Company maintained for that purpose in the Borough of Manhattan, The City of
New York, in such coin or currency of the United States as at the time of
payment is legal tender for the payment of public and private debts, provided,
however, that, payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register. Payment of interest, if any, in respect of this Security may also be
made, in the case of a Holder

                                   Exhibit E-1

of at least U.S. $1,000,000 aggregate principal amount of Securities, by wire
transfer to a U.S. Dollar account maintained by the Holder with a bank in the
United States; provided that such Holder elects payment by wire transfer by
giving written notice to the Trustee or Paying Agent to such effect designating
such account no later than 15 days immediately preceding the relevant due date
for payment (or such other date as the Trustee may accept in its discretion).

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET
FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

     Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

                                   Exhibit E-2

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

                                          MIDAMERICAN ENERGY HOLDINGS COMPANY

                                          By:
                                             -----------------------------------
                                             Name:
                                             Title:

Attest:

By:
   -----------------------------------
   Name:
   Title:

                                   Exhibit E-3

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated herein and referred
to in the within-mentioned Indenture.

                                        THE BANK OF NEW YORK,
                                          as Trustee

Dated:                                  By:
      ---------------------------          ------------------------------------
                                           Authorized Signatory

                                   Exhibit E-4

                FORM OF REVERSE OF SENIOR EXCHANGE NOTE DUE 2008
                        OR PRIVATE EXCHANGE NOTE DUE 2008

                       MIDAMERICAN ENERGY HOLDINGS COMPANY
                           3.50% Senior Notes due 2008

     1. GENERAL

     This Security is one of a duly authorized issue of Securities of the
Company (the "Securities"), issued and to be issued in one or more series under
an Indenture, dated as of October 4, 2002 (the "Original Indenture"), between
the Company and The Bank of New York, as trustee (the "Trustee," which term
includes any successor trustee under the Original Indenture), as supplemented by
the Second Supplemental Indenture, dated as of May 16, 2003 (together with the
Original Indenture, the "Indenture") between the Company and the Trustee, to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. Terms defined in the Indenture which are not
defined herein are used with the meanings assigned to them in the Indenture.
This Security is one of the series designated on the face hereof, limited in
aggregate principal amount to $450,000,000.

     2. OPTIONAL REDEMPTION

     The Securities of this series are subject to redemption upon not less than
30 or more than 60 days' notice to the Holders of such Securities as provided in
the Indenture, at any time, as a whole or in part, at the election of the
Company, at a redemption price equal to the greater of: (i) 100% of the
principal amount of the Securities of this series being redeemed or (ii) the sum
of the present values of the remaining scheduled payments of principal of and
interest on the Securities of this series being redeemed discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Yield plus 25
basis points, plus, for (i) or (ii) above, whichever is applicable, accrued
interest on the Securities of this series to the Redemption Date.

     "Treasury Yield" means, with respect to any Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as
a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date.

     "Comparable Treasury Issue" means the United States Treasury security
selected by an Independent Investment Banker as having a maturity comparable to
the remaining term of the Securities of this series to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities of this series.

     "Comparable Treasury Price" means, with respect to any Redemption Date, (i)
the average of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) on the third
Business Day in New York City preceding such

                                   Exhibit E-5

Redemption Date, as set forth in the daily statistical release (or any successor
release) published by the Federal Reserve Bank of New York and designated
"Composite 3:30 p.m. Quotations for U.S. Government Securities" or (ii) if such
release (or any successor release) is not published or does not contain such
prices on such Business Day, the Reference Treasury Dealer Quotation for such
Redemption Date.

     "Independent Investment Banker" means an investment banking institution of
international standing appointed by the Company.

     "Reference Treasury Dealer" means a primary U.S. government securities
dealer in New York City appointed by the Company.

     "Reference Treasury Dealer Quotation" means, with respect to the Reference
Treasury Dealer and any Redemption Date, the average, as determined by the
Company, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount and quoted in
writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day in New York City preceding such Redemption Date).

     Notice of redemption pursuant to this paragraph 2 shall be given as
provided for in the Indenture not less than 30 days nor more than 60 days prior
to the Redemption Date.

     If fewer than all the Securities of this series are to be redeemed,
selection of Securities of this series for redemption will be made by the
Trustee in any manner the Trustee deems fair and appropriate.

     Unless the Company defaults in payment of the Redemption Price, from and
after the Redemption Date, the Securities of this series or portions thereof
called for redemption will cease to bear interest, and the Holders thereof will
have no right in respect of such Securities of this series except the right to
receive the Redemption Price thereof.

     3. DEFEASANCE

     The Indenture contains provisions for defeasance of (a) the entire
indebtedness of this Security and (b) certain restrictive covenants upon
compliance by the Company with certain conditions set forth therein.

     4. DEFAULTS AND REMEDIES

     If an Event of Default with respect to Securities of this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. At any time after such declaration of acceleration with respect to
Securities of this series has been made, but before a judgment or decree for
payment of money has been obtained by the Trustee as provided in the Indenture,
if all Events of Default with respect to Securities of this series have been
cured or waived (other than the non-payment of principal of the Securities of
this series which has become due solely by reason of such declaration of
acceleration) then and in every such case, the Holders of a majority in
aggregate principal amount of the Outstanding securities of such series may, by
written notice to the Company and to the Trustee, rescind and annul such
declaration and its consequences on

                                   Exhibit E-6

behalf of all of the Holders, but no such rescission or annulment shall extend
to or affect any subsequent default or impair any right consequent thereon.

     As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding, judicial
or otherwise, with respect to the Indenture, or for the appointment of a
receiver or trustee or for any other remedy thereunder, unless (a) such Holder
shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities, (b) the Holders of not less than 33% or
a majority, as applicable, in principal amount of the Securities at the time
Outstanding under the Indenture shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee, (c)
such Holder shall have offered the Trustee indemnity satisfactory to the Trustee
against the costs, expenses and liabilities to be incurred in compliance with
such request, (d) the Trustee shall not have received from the Holders of a
majority in principal amount of Securities at the time Outstanding under the
Indenture a direction inconsistent with such request and (e) the Trustee for 90
days after its receipt of such notice and offer of indemnity from the Holder,
and request from the Holders, shall have failed to institute any such
proceeding. The foregoing shall not apply to certain suits described in the
Indenture, including any suit instituted by the Holder of this Security for the
enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed herein.

     5. AMENDMENT AND WAIVER

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the Indenture or any supplemental
indenture or the rights and obligations of the Company and rights of the Holders
of the Securities of any series at any time by the Company and the Trustee with
the consent of the Holders of a majority in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture
also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest, if any, on this Security at the times, place and rate, and in the coin
or currency, herein prescribed.

     6. TRANSFER AND EXCHANGE; DENOMINATIONS

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or
agency of the Company in any place where the

                                   Exhibit E-7

principal of (and premium, if any) and interest, if any, on this Security are
payable, duly endorsed by, or accompanied by a written instrument of transfer in
form satisfactory to the Company and the Security Registrar duly executed by,
the Holder hereof or his attorney duly authorized in writing, and thereupon one
or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

     The Securities of the series of which this Security is a part are issuable
only in registered form, without coupons, in denominations of $1,000 and any
integral multiple of $1,000.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     7. SUCCESSOR OBLIGORS

     When a successor assumes all the obligations of its predecessor under the
Securities of this series and the Indenture in accordance with the terms of the
Indenture, the predecessor will be released from those obligations.

     8. TRUSTEE DEALINGS WITH THE COMPANY

     The Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Securities of this series and may otherwise
deal with the Company, its Subsidiaries or their respective Affiliates as if it
were not the Trustee.

     9. NO RECOURSE AGAINST OTHERS

     No stockholder, director, officer, employee, incorporator or Affiliate of
the Company shall have any liability for any obligation of the Company under the
Securities of this series or the Indenture or for any claim based on, in respect
of or by reason of, such obligations or their creation. Each Holder of the
Securities of this series by accepting a Security of this series waives and
releases all such liability. The waiver and release are part of the
consideration for the issuance of the Securities of this series.

     10. AUTHENTICATION

     This Security shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on this Security.

                                   Exhibit E-8

     11. CUSIP NUMBERS

     Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company will cause CUSIP numbers to be
printed on the Securities of this series as a convenience to the Holders of the
Securities of this series.

     12. GOVERNING LAW

     This Security shall be governed by and construed in accordance with the
laws of the State of New York, including Section 5-1401 of the New York General
Obligations Law, but otherwise without regard to the principles of conflict of
laws thereof.

     13. DEFINED TERMS

     All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

                                   Exhibit E-9

                       OPTION OF HOLDER TO ELECT PURCHASE

     If you wish to elect to have all or any portion of the Securities purchased
by the Company pursuant to a Change of Control Offer made in accordance with
Section 10.10 of the Original Indenture, check the applicable boxes:

     I wish to have the Securities purchased by the Company:

          [ ]  in whole

          [ ]  in part

          Amount to be
          purchased:    $________________

Dated:                             Signature:
      -------------------                    -----------------------------------
                                             (sign exactly as your name appears
                                             on the other side of this Security)

Signature
Guarantee:        ______________________________

(Your signature must be guaranteed by a financial institution that is a member
of the Securities Transfer Agent Medallion Program ("STAMP"), the Securities
Exchange Medallion Program ("SEMP"), the New York Stock Exchange, Inc. Medallion
Signature Program ("MSP") or such other signature guarantee program as may be
determined by the Securities Registrar in addition to, or in substitution for,
STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934,
as amended.)

Social Security Number or
Taxpayer Identification Number:
                               ----------------------------------

                                   Exhibit E-10EXECUTION COPY

                                  $450,000,000

                       MIDAMERICAN ENERGY HOLDINGS COMPANY

                       3.50% SENIOR NOTES DUE MAY 15, 2008

                          REGISTRATION RIGHTS AGREEMENT
                          -----------------------------

                                                                    May 13, 2003

Credit Suisse First Boston LLC
The other Initial Purchasers Listed on Schedule A hereto
c/o Credit Suisse First Boston LLC
   Eleven Madison Avenue
   New York, New York 10010-3629

Dear Sirs:

     MidAmerican Energy Holdings Company, an Iowa corporation (the "COMPANY"),
proposes to issue and sell to Credit Suisse First Boston LLC and the other
Initial Purchasers listed on Schedule A hereto (collectively, the "INITIAL
PURCHASERS"), upon the terms set forth in a purchase agreement of even date
herewith (the "PURCHASE AGREEMENT"), $450,000,000 aggregate principal amount of
its 3.50% Senior Notes due May 15, 2008 (the "INITIAL SECURITIES"). The Initial
Securities will be issued pursuant to that certain Indenture, dated as of
October 4, 2002, as supplemented by a second supplemental indenture to be
entered into thereunder to be dated on or about May 16, 2003 (together, the
"INDENTURE"), between the Company and The Bank of New York, as trustee (the
"TRUSTEE"). As an inducement to the Initial Purchasers to enter into the
Purchase Agreement, the Company agrees with the Initial Purchasers, for the
benefit of the Initial Purchasers and the holders of the Securities (as defined
below) (collectively, the "HOLDERS"), as follows:

     1. Registered Exchange Offer. Unless not permitted by applicable law (after
the Company has complied with the ultimate paragraph of this Section 1), the
Company shall prepare and file with the Securities and Exchange Commission (the
"COMMISSION") a registration statement (the "EXCHANGE OFFER REGISTRATION
STATEMENT") on an appropriate form under the Securities Act of 1933, as amended
(the "SECURITIES Act"), with respect to a proposed offer (the "REGISTERED
EXCHANGE OFFER") to the Holders of Transfer Restricted Securities (as defined in
Section 6 hereof), who are not prohibited by any law or policy of the Commission
from participating in the Registered Exchange Offer, to issue and deliver to
such Holders, in exchange for the Initial Securities, a like aggregate principal
amount of debt securities of the Company issued under the Indenture,
substantially identical in all material respects to the Initial Securities and
registered under the Securities Act (the "EXCHANGE SECURITIES"). The Company
shall use its reasonable best efforts to cause the Exchange Offer Registration
Statement to become effective under the Securities Act within 270 days (such
270th day being an "EFFECTIVENESS DEADLINE") after the date on which the Initial
Purchasers purchase the Initial Securities pursuant to the Purchase Agreement
(the "CLOSING DATE") and will keep the Exchange Offer Registration Statement
effective for not less than 30 days (or longer, if required by applicable law)
after the date notice of the Registered Exchange Offer is mailed to the Holders
(such period being called the "EXCHANGE OFFER REGISTRATION PERIOD").

     If the Company commences the Registered Exchange Offer, the Company will be
entitled to consummate the Registered Exchange Offer 30 days after such
commencement (provided that the Company has accepted all the Initial Securities
theretofore validly tendered in accordance with the terms of the Registered
Exchange Offer).

     Following the declaration of the effectiveness of the Exchange Offer
Registration Statement, the Company shall promptly commence the Registered
Exchange Offer, it being the objective of the Registered Exchange Offer to
enable each Holder of Transfer Restricted Securities electing to exchange the
Initial Securities for Exchange Securities (assuming that such Holder is not an
affiliate of the Company within the meaning of the Securities Act, acquires the
Exchange Securities in the ordinary course of such Holder's business and has no
arrangements or understanding with any person to participate in the distribution
of the Exchange Securities and is not prohibited by any law or policy of the
Commission from participating in the Registered Exchange Offer) to trade such
Exchange Securities from and after their receipt without any limitations or
restrictions under the Securities Act.

     The Company acknowledges that, pursuant to current interpretations by the
Commission's staff of Section 5 of the Securities Act, in the absence of an
applicable exemption therefrom, (i) each Holder which is a broker-dealer
electing to exchange Initial Securities, acquired for its own account as a
result of market making activities or other trading activities, for Exchange
Securities (an "EXCHANGING DEALER"), is required to deliver a prospectus
containing the information set forth in (a) Annex A hereto on the cover, (b)
Annex B hereto in the "Exchange Offer Procedures" section and the "Purpose of
the Exchange Offer" section, and (c) Annex C hereto in the "Plan of
Distribution" section of such prospectus in connection with a sale of any such
Exchange Securities received by such Exchanging Dealer pursuant to the
Registered Exchange Offer and (ii) an Initial Purchaser that elects to sell
Securities (as defined below) acquired in exchange for Initial Securities
constituting any portion of an unsold allotment, is required to deliver a
prospectus containing the information required by Items 507 or 508, as
applicable, of Regulation S-K under the Securities Act in connection with such
sale.

     The Company shall use its reasonable best efforts to keep the Exchange
Offer Registration Statement effective and to amend and supplement the
prospectus contained therein, in order to permit such prospectus to be lawfully
delivered by all persons subject to the prospectus delivery requirements of the
Securities Act for such period of time as such persons must comply with such
requirements in order to resell the Exchange Securities; provided, however, that
(i) in the case where such prospectus and any amendment or supplement thereto
must be delivered by an Exchanging Dealer or an Initial Purchaser, such period
shall be the lesser of 120 days and the date on which all Exchanging Dealers and
the Initial Purchasers have sold all Exchange Securities held by them (unless
such period is extended pursuant to Section 3(j) below) and (ii) the Company
shall make such prospectus and any amendment or supplement thereto available to
any broker-dealer for use in connection with any resale of any Exchange
Securities for a period of not less than 120 days after the consummation of the
Registered Exchange Offer.

     If, upon consummation of the Registered Exchange Offer, any Initial
Purchaser holds Initial Securities acquired by it as part of its initial
distribution, the Company, simultaneously with the delivery of the Exchange
Securities pursuant to the Registered Exchange Offer, shall issue and deliver to
such Initial Purchaser upon the written request of such Initial Purchaser, in
exchange (the "PRIVATE EXCHANGE") for the Initial Securities held by such
Initial Purchaser, a like principal amount of debt securities of the Company
issued under the Indenture and substantially identical in all material respects
to the Initial Securities (the "PRIVATE EXCHANGE SECURITIES"). The Initial
Securities, the Exchange Securities and the Private Exchange Securities are
herein collectively called the "SECURITIES".

     In connection with the Registered Exchange Offer, the Company shall:

                                       2

         (a) mail to each Holder a copy of the prospectus forming part of the
     Exchange Offer Registration Statement, together with an appropriate letter
     of transmittal and related documents;

         (b) keep the Registered Exchange Offer open for not less than 30 days
     (or longer, if required by applicable law) after the date notice thereof is
     mailed to the Holders;

         (c) utilize the services of a depositary for the Registered Exchange
     Offer with an address in the Borough of Manhattan, The City of New York,
     which may be the Trustee or an affiliate of the Trustee;

         (d) permit Holders to withdraw tendered Securities at any time prior to
     the close of business, New York time, on the last business day on which the
     Registered Exchange Offer shall remain open; and

         (e) otherwise comply with all applicable laws.

     As soon as practicable after the close of the Registered Exchange Offer or
the Private Exchange, as the case may be, the Company shall:

         (x) accept for exchange all the Initial Securities validly tendered and
     not withdrawn pursuant to the Registered Exchange Offer and the Private
     Exchange;

         (y) deliver to the Trustee for cancellation all the Initial Securities
     so accepted for exchange; and

         (z) cause the Trustee to authenticate and deliver promptly to each
     Holder of the Initial Securities, the Exchange Securities or the Private
     Exchange Securities, as the case may be, equal in principal amount to the
     Initial Securities of such Holder so accepted for exchange.

     The Indenture will provide that the Exchange Securities will not be subject
to the transfer restrictions set forth in the Indenture and that all the
Securities will vote and consent together on all matters as one class and that
none of the Securities will have the right to vote or consent as a class
separate from one another on any matter.

     Interest on each Exchange Security and Private Exchange Security issued
pursuant to the Registered Exchange Offer and in the Private Exchange will
accrue from the last interest payment date on which interest was paid on the
Initial Securities surrendered in exchange therefor or, if no interest has been
paid on the Initial Securities, from the date of original issue of the Initial
Securities.

     Each Holder participating in the Registered Exchange Offer shall be
required to represent to the Company that at the time of the consummation of the
Registered Exchange Offer (i) any Exchange Securities received by such Holder
will be acquired in the ordinary course of its business, (ii) at the time of
commencement of the Registered Exchange Offer, such Holder had no arrangements
or understanding with any person to participate in the distribution of the
Securities or the Exchange Securities within the meaning of the Securities Act,
(iii) such Holder is not an "affiliate," as defined in Rule 405 of the
Securities Act, of the Company or if it is an affiliate, such Holder will comply
with the registration and prospectus delivery requirements of the Securities Act
to the extent applicable, (iv) if such Holder is not a broker-dealer, that it is
not engaged in, and does not intend to engage in, the distribution of the
Exchange Securities and (v) if such Holder is a broker-dealer, that it will
receive Exchange Securities for its own account in exchange for Initial
Securities that were acquired as a result of market-making activities or other
trading activities and that it will be required to acknowledge that it will
deliver a prospectus in connection with any resale of such Exchange Securities.

                                       3

     Notwithstanding any other provisions hereof, the Company will ensure that
(i) any Exchange Offer Registration Statement and any amendment thereto and any
prospectus forming part thereof and any supplement thereto complies in all
material respects with the Securities Act and the rules and regulations
thereunder, (ii) any Exchange Offer Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any prospectus
forming part of any Exchange Offer Registration Statement, and any supplement to
such prospectus, does not include an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary in order to
make the statements therein, in the light of the circumstances under which they
were made, not misleading.

     If following the date hereof there has been announced a change in
Commission policy with respect to exchange offers that in the reasonable opinion
of counsel to the Company raises a substantial question as to whether the
Registered Exchange Offer is permitted by applicable federal law, the Company
will seek a no-action letter or other favorable decision from the Commission
allowing the Company to consummate the Registered Exchange Offer. The Company
will pursue the issuance of such a decision to the Commission staff level. In
connection with the foregoing, the Company will take all such other actions as
may be requested by the Commission or otherwise reasonably required in
connection with the issuance of such decision, including without limitation (i)
participating in telephonic conferences with the Commission, (ii) delivering to
the Commission staff an analysis prepared by counsel to the Company setting
forth the legal bases, if any, upon which such counsel has concluded that the
Registered Exchange Offer should be permitted and (iii) diligently pursuing a
resolution (which need not be favorable) by the Commission staff.

     2. Shelf Registration. If, (i) because of any change in law or in
applicable interpretations thereof by the staff of the Commission, the Company
is not permitted to effect a Registered Exchange Offer, as contemplated by
Section 1 hereof, (ii) the Registered Exchange Offer is not consummated by the
date that is 40 days after the date on which the Exchange Offer Registration
Statement is declared effective (such 40th day being the "CONSUMMATION
DEADLINE"), (iii) any Initial Purchaser so requests with respect to the Initial
Securities (or the Private Exchange Securities) not eligible to be exchanged for
Exchange Securities in the Registered Exchange Offer and held by it following
consummation of the Registered Exchange Offer or (iv) any Holder (other than an
Exchanging Dealer) is not eligible to participate in the Registered Exchange
Offer or, in the case of any Holder (other than an Exchanging Dealer) that
participates in the Registered Exchange Offer, such Holder does not receive
freely tradeable Exchange Securities on the date of the exchange and any such
Holder so requests for any reason other than the failure by such Holder to make
a timely and valid tender in accordance with the Registered Exchange Offer, the
Company shall take the following actions (the date on which any of the
conditions described in the foregoing clauses (i) through (iv) occur, including
in the case of clauses (iii) or (iv) the receipt of the required notice, being a
"TRIGGER DATE"):

         (a) The Company shall as promptly as practicable prepare and file with
     the Commission and thereafter use its reasonable best efforts to cause to
     be declared effective not later than the latter to occur of the date that
     is (i) 150 days after the Trigger Date and (ii) 270 days after the Closing
     Date (such 150th or 270th day, as the case may be, being an "EFFECTIVENESS
     DEADLINE"), a registration statement (the "SHELF REGISTRATION STATEMENT"
     and, together with the Exchange Offer Registration Statement, a
     "REGISTRATION STATEMENT") on an appropriate form under the Securities Act
     relating to the offer and sale of the Transfer Restricted Securities by the
     Holders thereof from time to time in accordance with the methods of
     distribution set forth in the Shelf Registration Statement and Rule 415
     under the Securities Act (hereinafter, the "SHELF REGISTRATION"); provided,
     however, that no Holder (other than an Initial Purchaser) shall be entitled
     to have the Securities held by it covered by the Shelf Registration
     Statement unless such Holder agrees in writing to be bound by all the
     provisions of this Agreement applicable to such Holder.

                                       4

         (b) The Company shall use its reasonable best efforts to keep the Shelf
     Registration Statement continuously effective in order to permit the
     prospectus included therein to be lawfully delivered by the Holders of the
     relevant Securities, for a period of two years (or for such longer period
     if extended pursuant to Section 3(j) below) from the Closing Date or such
     shorter period that will terminate when all the Securities covered by the
     Shelf Registration Statement (i) have been sold pursuant thereto or (ii)
     are no longer restricted securities (as defined in Rule 144 under the
     Securities Act, or any successor rule thereof) (such applicable period
     being called the "SHELF REGISTRATION PERIOD").

         (c) Notwithstanding any other provisions of this Agreement to the
     contrary, the Company shall cause the Shelf Registration Statement and the
     related prospectus and any amendment or supplement thereto, as of the
     effective date of the Shelf Registration Statement, amendment or
     supplement, (i) to comply in all material respects with the applicable
     requirements of the Securities Act and the rules and regulations of the
     Commission promulgated thereunder and (ii) not to contain any untrue
     statement of a material fact or omit to state a material fact required to
     be stated therein or necessary in order to make the statements therein, in
     light of the circumstances under which they were made, not misleading.

     3. Registration Procedures. In connection with any Shelf Registration
Statement contemplated by Section 2 hereof and, to the extent applicable, any
Registered Exchange Offer contemplated by Section 1 hereof, the following
provisions shall apply:

         (a) The Company shall (i) furnish to each Initial Purchaser, prior to
     the filing thereof with the Commission, a copy of the Registration
     Statement and each amendment thereof and each supplement, if any, to the
     prospectus included therein and, in the event that an Initial Purchaser
     (with respect to any portion of an unsold allotment from the original
     offering of the Initial Securities) is participating in the Registered
     Exchange Offer or the Shelf Registration Statement, the Company shall use
     its best efforts to reflect in each such document, when so filed with the
     Commission, such comments as such Initial Purchaser reasonably may propose
     not later than five business days after delivery of such documents to such
     Initial Purchaser; (ii) include the information set forth in Annex A hereto
     on the cover, in Annex B hereto in the "Exchange Offer Procedures" section
     and the "Purpose of the Exchange Offer" section and in Annex C hereto in
     the "Plan of Distribution" section of the prospectus forming a part of the
     Exchange Offer Registration Statement and include the information set forth
     in Annex D hereto in the letter of transmittal delivered pursuant to the
     Registered Exchange Offer; (iii) if requested by an Initial Purchaser,
     include the information required by Items 507 or 508, as applicable, of
     Regulation S-K under the Securities Act in the prospectus forming a part of
     the Exchange Offer Registration Statement; (iv) include within the
     prospectus contained in the Exchange Offer Registration Statement a section
     entitled "Plan of Distribution," reasonably acceptable to the Initial
     Purchasers, which shall contain a summary statement of the positions taken
     or policies made by the staff of the Commission with respect to the
     potential "underwriter" status of any broker-dealer that is the beneficial
     owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934,
     as amended (the "EXCHANGE ACT")) of Exchange Securities received by such
     broker-dealer in the Registered Exchange Offer (a "PARTICIPATING
     BROKER-DEALER"), whether such positions or policies have been publicly
     disseminated by the staff of the Commission or such positions or policies,
     in the reasonable judgment of the Initial Purchasers based upon advice of
     counsel (which may be in-house counsel), represent the prevailing views of
     the staff of the Commission; and (v) in the case of a Shelf Registration
     Statement, include the names of the Holders who propose to sell Securities
     pursuant to the Shelf Registration Statement as selling securityholders.

         (b) The Company shall give written notice to the Initial Purchasers,
     the Holders of the Securities and any Participating Broker-Dealer from whom
     the Company has received prior written notice that it will be a
     Participating Broker-Dealer in the Registered Exchange Offer

                                       5

     (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by
     an instruction to suspend the use of the prospectus until the requisite
     changes have been made):

               (i) when the Registration Statement or any amendment thereto has
         been filed with the Commission and when the Registration Statement or
         any post-effective amendment thereto has become effective;

               (ii) of any request by the Commission for amendments or
         supplements to the Registration Statement or the prospectus included
         therein or for additional information;

               (iii) of the issuance by the Commission of any stop order
         suspending the effectiveness of the Registration Statement or the
         initiation of any proceedings for that purpose;

               (iv) of the receipt by the Company or its legal counsel of any
         notification with respect to the suspension of the qualification of the
         Securities for sale in any jurisdiction or the initiation or
         threatening of any proceeding for such purpose of which the Company has
         knowledge; and

               (v) of the happening of any event that requires the Company to
         make changes in the Registration Statement or the prospectus in order
         that the Registration Statement or the prospectus do not contain an
         untrue statement of a material fact nor omit to state a material fact
         required to be stated therein or necessary to make the statements
         therein (in the case of the prospectus, in light of the circumstances
         under which they were made) not misleading.

         (c) The Company shall make every reasonable effort to obtain the
     withdrawal, at the earliest possible time, of any order suspending the
     effectiveness of the Registration Statement.

         (d) The Company shall furnish to each Holder of Securities included
     within the coverage of the Shelf Registration, without charge, at least one
     copy of the Shelf Registration Statement and any post-effective amendment
     thereto, including financial statements and schedules, and, if the Holder
     so requests in writing, all exhibits thereto (including those, if any,
     incorporated by reference).

         (e) The Company shall deliver to each Exchanging Dealer and each
     Initial Purchaser, and to any other Holder who so requests, without charge,
     at least one copy of the Exchange Offer Registration Statement and any
     post-effective amendment thereto, including financial statements and
     schedules, and, if any Initial Purchaser or any such Holder requests, all
     exhibits thereto (including those incorporated by reference).

         (f) The Company shall, during the Shelf Registration Period, deliver to
     each Holder of Securities included within the coverage of the Shelf
     Registration, without charge, as many copies of the prospectus (including
     each preliminary prospectus) included in the Shelf Registration Statement
     and any amendment or supplement thereto as such person may reasonably
     request. The Company consents, subject to the provisions of this Agreement,
     to the use in accordance with applicable law of the prospectus or any
     amendment or supplement thereto by each of the selling Holders of the
     Securities in connection with the offering and sale of the Securities
     covered by the prospectus, or any amendment or supplement thereto, included
     in the Shelf Registration Statement.

         (g) The Company shall deliver to each Initial Purchaser, any Exchanging
     Dealer, any Participating Broker-Dealer and such other persons required to
     deliver a prospectus following the

                                       6

     Registered Exchange Offer, without charge, as many copies of the final
     prospectus included in the Exchange Offer Registration Statement and any
     amendment or supplement thereto as such persons may reasonably request. The
     Company consents, subject to the provisions of this Agreement, to the use
     in accordance with applicable law of the prospectus or any amendment or
     supplement thereto by any Initial Purchaser, if necessary, any
     Participating Broker-Dealer and such other persons required to deliver a
     prospectus following the Registered Exchange Offer in connection with the
     offering and sale of the Exchange Securities covered by the prospectus, or
     any amendment or supplement thereto, included in such Exchange Offer
     Registration Statement.

         (h) Prior to any public offering of the Securities pursuant to any
     Registration Statement, the Company shall cooperate with the Holders of the
     Securities included therein and their Special Counsel (as defined in
     paragraph (p) below) in connection with the registration or qualification
     of the Securities for offer and sale under the securities or "blue sky"
     laws of such states of the United States as any Holder of the Securities
     reasonably requests in writing and do any and all other acts or things
     reasonably necessary or advisable to enable the offer and sale in such
     jurisdictions of the Securities covered by such Registration Statement;
     provided, however, that the Company shall not be required to (i) qualify
     generally to do business in any jurisdiction where it is not then so
     qualified or (ii) take any action which would subject it to general service
     of process or to taxation in any jurisdiction where it is not then so
     subject.

         (i) The Company shall cooperate with the Holders of the Securities to
     facilitate the timely preparation and delivery of certificates representing
     the Securities to be sold pursuant to any Registration Statement free of
     any restrictive legends and in such denominations and registered in such
     names as the Holders may request a reasonable period of time prior to sales
     of the Securities pursuant to such Registration Statement.

         (j) Upon the occurrence of any event contemplated by paragraphs (ii)
     through (v) of Section 3(b) above during the period for which the Company
     is required to maintain an effective Registration Statement, the Company
     shall promptly prepare and file a post-effective amendment to the
     Registration Statement or a supplement to the related prospectus and any
     other required document so that, as thereafter delivered to Holders of the
     Securities or purchasers of Securities, the prospectus will not contain an
     untrue statement of a material fact or omit to state any material fact
     required to be stated therein or necessary to make the statements therein,
     in light of the circumstances under which they were made, not misleading.
     If the Company notifies the Initial Purchasers, the Holders of the
     Securities and any known Participating Broker-Dealer in accordance with
     paragraphs (ii) through (v) of Section 3(b) above to suspend the use of the
     prospectus until the requisite changes to the prospectus have been made,
     then the Initial Purchasers, the Holders of the Securities and any such
     Participating Broker-Dealers shall suspend use of such prospectus, and the
     period of effectiveness of the Shelf Registration Statement provided for in
     Section 2(b) above and the Exchange Offer Registration Statement provided
     for in Section 1 above shall each be extended by the number of days from
     and including the date of the giving of such notice to and including the
     date when the Initial Purchasers, the Holders of the Securities and any
     known Participating Broker-Dealer shall have received such amended or
     supplemented prospectus pursuant to this Section 3(j).

         (k) Not later than the effective date of the applicable Registration
     Statement, the Company will provide a CUSIP number for the Initial
     Securities, the Exchange Securities or the Private Exchange Securities, as
     the case may be, and provide the applicable trustee with printed
     certificates for the Initial Securities, the Exchange Securities or the
     Private Exchange Securities, as the case may be, in a form eligible for
     deposit with The Depository Trust Company.

         (l) The Company will use its reasonable best efforts to comply with all
     rules and regulations of the Commission to the extent and so long as they
     are applicable to the Registered

                                       7

     Exchange Offer or the Shelf Registration and will make generally available
     to its security holders (or otherwise provide in accordance with Section
     11(a) of the Securities Act) an earnings statement satisfying the
     provisions of Section 11(a) of the Securities Act, no later than 45 days
     after the end of a 12-month period (or 90 days, if such period is a fiscal
     year) beginning with the first month of the Company's first fiscal quarter
     commencing after the effective date of the Registration Statement, which
     statement shall cover such 12-month period.

         (m) The Company shall use its reasonable best efforts to cause the
     Indenture to be qualified under the Trust Indenture Act of 1939, as
     amended, in a timely manner and, in connection therewith, cooperate with
     the Trustee under the Indenture and the Holders of Securities to effect
     such changes to the Indenture as may be required for such qualification. In
     the event that such qualification would require the appointment of a new
     trustee under the Indenture, the Company shall appoint a new trustee
     thereunder pursuant to the applicable provisions of the Indenture.

         (n) The Company may require each Holder of Securities to be sold
     pursuant to the Shelf Registration Statement to furnish to the Company such
     information regarding the Holder and the distribution of the Securities as
     the Company may from time to time reasonably require for inclusion in the
     Shelf Registration Statement, and the Company may exclude from such
     registration the Securities of any Holder that fails to furnish such
     information within a reasonable time after receiving such request.

         (o) The Company shall enter into such customary agreements (including,
     if requested, an underwriting agreement in customary form) and take all
     such other action, if any, as any Holder of the Securities shall reasonably
     request in order to facilitate the disposition of the Securities pursuant
     to any Shelf Registration.

         (p) In the case of any Shelf Registration, the Company shall (i) make
     available at reasonable times and upon reasonable notice for inspection by
     a representative of the Holders of a majority in aggregate principal amount
     of the Securities being sold, any underwriter participating in any
     disposition pursuant to the Shelf Registration Statement and any attorney,
     accountant or other agent retained by the Holders of the Securities or any
     such underwriter all relevant financial and other records, pertinent
     corporate documents and properties of the Company and (ii) cause the
     Company's officers, directors, employees, accountants and auditors to
     supply all relevant information reasonably requested by the Holders of the
     Securities or any such underwriter, attorney, accountant or agent in
     connection with the Shelf Registration Statement, in each case, as shall be
     reasonably necessary to enable such persons to conduct a reasonable
     investigation within the meaning of Section 11 of the Securities Act;
     provided, however, that the foregoing inspection and information gathering
     shall be coordinated on behalf of the Initial Purchasers by you and on
     behalf of the other parties, by one counsel designated by and on behalf of
     such other parties as described herein (which counsel shall be Latham &
     Watkins LLP or another law firm reasonably acceptable to the Company, such
     counsel being referred to herein as the "SPECIAL COUNSEL"); provided,
     further, however, that, as a condition to supplying such information, the
     Company shall receive an agreement in writing from such Special Counsel
     agreeing that any information that is designated in writing by the Company,
     in good faith, as confidential at the time of delivery of such information
     shall be kept confidential by such Special Counsel and any other person
     entitled to receive such information pursuant to this paragraph (p) unless
     (w) disclosure of such information is required pursuant to applicable law
     or by court or administrative order, (x) disclosure of such information is,
     in the reasonable opinion of counsel to the Company, necessary to avoid or
     correct a misstatement or omission of a material fact in any Registration
     Statement, prospectus or any supplement or post-effective amendment thereto
     or disclosure is otherwise required by law, (y) such information becomes
     generally available to the public other than as a result of a disclosure by
     such counsel or any other person entitled to receive such information
     pursuant to this paragraph

                                       8

     (p) in violation of this proviso or (z) such information is approved for
     release by the Company in writing.

         (q) In the case of any Shelf Registration, the Company, if requested by
     any Holder of Securities covered thereby, shall cause (i) its counsel to
     deliver an opinion and updates thereof relating to the Securities in
     customary form addressed to such Holders and the managing underwriters, if
     any, thereof and dated, in the case of the initial opinion, the effective
     date of such Shelf Registration Statement (it being agreed that the matters
     to be covered by such opinion shall include, without limitation, the due
     incorporation and good standing of the Company and its "significant
     subsidiaries" (as defined in Rule 1-02(w) of Regulation S-X); the
     qualification of the Company and its significant subsidiaries to transact
     business as foreign corporations; the due authorization, execution and
     delivery of the relevant agreement of the type referred to in Section 3(o)
     hereof; the due authorization, execution, authentication and issuance, and
     the validity and enforceability, of the applicable Securities; the absence
     of material legal or governmental proceedings involving the Company and its
     significant subsidiaries; the absence of governmental approvals required to
     be obtained in connection with the Shelf Registration Statement, the
     offering and sale of the applicable Securities, or any agreement of the
     type referred to in Section 3(o) hereof; the compliance as to form of such
     Shelf Registration Statement and any documents incorporated by reference
     therein and of the Indenture with the requirements of the Securities Act
     and the Trust Indenture Act, respectively; and, as of the date of the
     opinion and as of the effective date of the Shelf Registration Statement or
     most recent post-effective amendment thereto, as the case may be, the
     absence from such Shelf Registration Statement and the prospectus included
     therein, as then amended or supplemented, and from any documents
     incorporated by reference therein, if applicable, of an untrue statement of
     a material fact or the omission to state therein a material fact required
     to be stated therein or necessary to make the statements therein not
     misleading (in the case of any such documents, in the light of the
     circumstances existing at the time that such documents were filed with the
     Commission under the Exchange Act); (ii) its officers to execute and
     deliver all customary documents and certificates and updates thereof
     requested by any underwriters of the applicable Securities; and (iii) its
     independent public accountants and the independent public accountants with
     respect to any other entity, if any, for which financial information is
     provided in the Shelf Registration Statement to provide to the selling
     Holders of the applicable Securities and any underwriter therefor a comfort
     letter in customary form and covering matters of the type customarily
     covered in comfort letters in connection with underwritten offerings,
     subject to receipt of appropriate documentation as contemplated, and only
     if permitted, by Statement of Auditing Standards No. 72.

         (r) In the case of the Registered Exchange Offer, if requested by any
     Initial Purchaser or any known Participating Broker-Dealer, the Company
     shall cause (i) its counsel to deliver to such Initial Purchaser or such
     Participating Broker-Dealer a signed opinion in the form set forth in
     Section 6(c)-(e) of the Purchase Agreement with such changes as are
     customary in connection with the preparation of a Registration Statement
     and (ii) its independent public accountants and the independent public
     accountants with respect to any other entity, if any, for which financial
     information is provided in the Registration Statement to deliver to such
     Initial Purchaser or such Participating Broker-Dealer a comfort letter, in
     customary form, meeting the requirements as to the substance thereof as set
     forth in Section 6(a) of the Purchase Agreement, with appropriate date
     changes.

         (s) If a Registered Exchange Offer or a Private Exchange is to be
     consummated, upon delivery of the Initial Securities by Holders to the
     Company (or to such other Person as directed by the Company) in exchange
     for the Exchange Securities or the Private Exchange Securities, as the case
     may be, the Company shall mark, or caused to be marked, on the Initial
     Securities so exchanged that such Initial Securities are being canceled in
     exchange for the Exchange Securities

                                       9

     or the Private Exchange Securities, as the case may be; in no event shall
     the Initial Securities be marked as paid or otherwise satisfied.

         (t) The Company will use its reasonable best efforts to cause the
     Securities covered by any Registration Statement to continue to be rated by
     the rating agencies that initially rated the Securities during the period
     that any such Registration Statement is required hereunder to remain
     effective (it being acknowledged, however, that the foregoing shall not be
     deemed to require the Company to maintain the rating of such Securities at
     the rating initially given to the Securities).

         (u) In the event that any broker-dealer registered under the Exchange
     Act shall underwrite any Securities or participate as a member of an
     underwriting syndicate or selling group or "assist in the distribution"
     (within the meaning of the Conduct Rules (the "RULES") of the National
     Association of Securities Dealers, Inc. ("NASD")) thereof, whether as a
     Holder of such Securities or as an underwriter, a placement or sales agent
     or a broker or dealer in respect thereof, or otherwise, the Company will
     assist such broker-dealer in complying with the requirements of such Rules,
     including, without limitation, by (i) if such Rules, including Rule 2720,
     shall so require, engaging a "qualified independent underwriter" (as
     defined in Rule 2720) to participate in the preparation of the Registration
     Statement relating to such Securities, to exercise usual standards of due
     diligence in respect thereto and, if any portion of the offering
     contemplated by such Registration Statement is an underwritten offering or
     is made through a placement or sales agent, to recommend the yield of such
     Securities, (ii) indemnifying any such qualified independent underwriter to
     the extent of the indemnification of underwriters provided in Section 5
     hereof and (iii) providing such information to such broker-dealer as may be
     required in order for such broker-dealer to comply with the requirements of
     the Rules.

         (v) The Company shall use its reasonable best efforts to take all other
     steps necessary to effect the registration of the Securities covered by a
     Registration Statement contemplated hereby.

         (w) Notwithstanding any other provision hereof, the Company may
     postpone or suspend the filing or the effectiveness of a Registration
     Statement (or any amendments or supplements thereto) if (i) such action is
     required by applicable law or (ii) such action is taken by the Company in
     good faith and for valid business reasons (not including the avoidance of
     the Company's obligations hereunder), including the acquisition or
     divestiture of assets, other pending corporate developments, public filings
     with the Commission or other similar events, so long as the Company
     promptly thereafter complies with the requirements of Section 3(j) hereof,
     if applicable. Notwithstanding the occurrence of any event referred to in
     the immediately preceding sentence (each such occurrence, a "SUSPENSION"),
     no such Suspension shall suspend, postpone or in any other manner affect
     the running of the time period after which a Registration Default shall be
     deemed to occur and, if the filing or effectiveness of any such
     Registration Statement is postponed or suspended as a result of a
     Suspension, a Registration Default shall nonetheless exist if all other
     requirements required for the occurrence of a Registration Default shall
     then be satisfied, and the provisions of Section 6 hereof requiring the
     accrual and payment of Additional Interest, as set forth in such Section,
     on the Securities shall be payable.

     4. Registration Expenses.

         (a) All expenses incident to the Company's performance of and
     compliance with this Agreement will be borne by the Company, regardless of
     whether a Registration Statement is ever filed or becomes effective,
     including without limitation;

               (i) all registration and filing fees and expenses;

                                       10

               (ii) all fees and expenses of compliance with federal securities
         and state "blue sky" or securities laws;

               (iii) all expenses of printing (including printing certificates
         for the Securities to be issued in the Registered Exchange Offer and
         the Private Exchange and printing of Prospectuses), messenger and
         delivery services and telephone;

               (iv) all fees and disbursements of counsel for the Company; and

               (v) all fees and disbursements of independent certified public
         accountants of the Company (including the expenses of any special audit
         and comfort letters required by or incident to such performance).

     The Company will bear its internal expenses (including, without limitation,
     all salaries and expenses of its officers and employees performing legal or
     accounting duties), the expenses of any annual audit and the fees and
     expenses of any person, including special experts, retained by the Company.

         (b) In connection with any Registration Statement required by this
     Agreement, the Company will reimburse the Initial Purchasers and the
     Holders of Transfer Restricted Securities who are tendering Initial
     Securities in the Registered Exchange Offer and/or selling or reselling
     Securities pursuant to the "Plan of Distribution" contained in the Exchange
     Offer Registration Statement or the Shelf Registration Statement, as
     applicable, for the reasonable fees and disbursements of the Special
     Counsel.

     5.  Indemnification.

         (a) The Company agrees to indemnify and hold harmless each Holder of
     the Securities, any Participating Broker-Dealer and each person, if any,
     who controls such Holder or such Participating Broker-Dealer within the
     meaning of the Securities Act or the Exchange Act (each Holder, any
     Participating Broker-Dealer and such controlling persons are referred to
     collectively as the "INDEMNIFIED PARTIES") from and against any losses,
     claims, damages or liabilities, joint or several, or any actions in respect
     thereof (including, but not limited to, any losses, claims, damages,
     liabilities or actions relating to purchases and sales of the Securities)
     to which each Indemnified Party may become subject under the Securities
     Act, the Exchange Act or otherwise, insofar as such losses, claims,
     damages, liabilities or actions arise out of or are based upon any untrue
     statement or alleged untrue statement of a material fact contained in a
     Registration Statement or prospectus or in any amendment or supplement
     thereto or in any preliminary prospectus relating to a Shelf Registration,
     or arise out of, or are based upon, the omission or alleged omission to
     state therein a material fact required to be stated therein or necessary to
     make the statements therein not misleading, and shall reimburse, as
     incurred, the Indemnified Parties for any legal or other expenses
     reasonably incurred by them in connection with investigating or defending
     any such loss, claim, damage, liability or action in respect thereof;
     provided, however, that (i) the Company shall not be liable in any such
     case to the extent that such loss, claim, damage or liability arises out of
     or is based upon any untrue statement or alleged untrue statement or
     omission or alleged omission made in a Registration Statement or prospectus
     or in any amendment or supplement thereto or in any preliminary prospectus
     relating to a Shelf Registration in reliance upon and in conformity with
     written information pertaining to such Holder and furnished to the Company
     by or on behalf of such Holder specifically for inclusion therein and (ii)
     with respect to any untrue statement or omission or alleged untrue
     statement or omission made in any preliminary prospectus relating to a
     Shelf Registration Statement, the indemnity agreement contained in this
     subsection (a) shall not inure to the benefit of any Holder or
     Participating Broker-Dealer from whom the person asserting any such losses,
     claims, damages or liabilities purchased the Securities

                                       11

     concerned, to the extent that a prospectus relating to such Securities was
     required to be delivered by such Holder or Participating Broker-Dealer
     under the Securities Act in connection with such purchase and any such
     loss, claim, damage or liability of such Holder or Participating
     Broker-Dealer results from the fact that there was not sent or given to
     such person, at or prior to the written confirmation of the sale of such
     Securities to such person, a copy of the final prospectus if the Company
     had previously furnished copies thereof to such Holder or Participating
     Broker-Dealer; provided further, however, that this indemnity agreement
     will be in addition to any liability which the Company may otherwise have
     to such Indemnified Party. The Company shall also indemnify underwriters,
     their officers and directors and each person who controls such underwriters
     within the meaning of the Securities Act or the Exchange Act to the same
     extent as provided above with respect to the indemnification of the Holders
     of the Securities if requested by such Holders.

         (b) Each Holder of the Securities, severally and not jointly, will
     indemnify and hold harmless the Company and each person, if any, who
     controls the Company within the meaning of the Securities Act or the
     Exchange Act from and against any losses, claims, damages or liabilities or
     any actions in respect thereof, to which the Company or any such
     controlling person may become subject under the Securities Act, the
     Exchange Act or otherwise, insofar as such losses, claims, damages,
     liabilities or actions arise out of or are based upon any untrue statement
     or alleged untrue statement of a material fact contained in a Registration
     Statement or prospectus or in any amendment or supplement thereto or in any
     preliminary prospectus relating to a Shelf Registration, or arise out of or
     are based upon the omission or alleged omission to state therein a material
     fact necessary to make the statements therein not misleading, but in each
     case only to the extent that the untrue statement or omission or alleged
     untrue statement or omission was made in reliance upon and in conformity
     with written information pertaining to such Holder and furnished to the
     Company by or on behalf of such Holder specifically for inclusion therein;
     and, subject to the limitation set forth immediately preceding this clause,
     shall reimburse, as incurred, the Company for any legal or other expenses
     reasonably incurred by the Company or any such controlling person in
     connection with investigating or defending any loss, claim, damage,
     liability or action in respect thereof. This indemnity agreement will be in
     addition to any liability which such Holder may otherwise have to the
     Company or any of its controlling persons.

         (c) Promptly after receipt by an indemnified party under this Section 5
     of notice of the commencement of any action or proceeding (including a
     governmental investigation), such indemnified party will, if a claim in
     respect thereof is to be made against the indemnifying party under this
     Section 5, notify the indemnifying party of the commencement thereof;
     provided, however, that the omission so to notify the indemnifying party
     (i) shall not relieve the indemnifying party from any obligations to any
     indemnified party other than the indemnification obligation provided in
     paragraph (a) or (b) above. In case any such action is brought against any
     indemnified party, and it notifies the indemnifying party of the
     commencement thereof, the indemnifying party will be entitled to
     participate therein and, to the extent that it may wish, jointly with any
     other indemnifying party similarly notified, to assume the defense thereof,
     with counsel reasonably satisfactory to such indemnified party (who shall
     not, except with the consent of the indemnified party, be counsel to the
     indemnifying party), and after notice from the indemnifying party to such
     indemnified party of its election so to assume the defense thereof the
     indemnifying party will not be liable to such indemnified party under this
     Section 5 for any legal or other expenses, other than reasonable costs of
     investigation, subsequently incurred by such indemnified party in
     connection with the defense thereof; provided, however, that the
     indemnified party shall have the right to employ counsel to represent the
     indemnified party and their respective controlling persons who may be
     subject to liability arising out of any claim in respect of which indemnity
     may be sought by the indemnified party against the indemnifying party under
     this Section 5 if the employment of such counsel shall have been authorized
     in writing by the indemnifying party in connection with the defense of such
     action, if in the written opinion of counsel to either the

                                       12

     indemnifying party or the indemnified party, representation of both parties
     by the same counsel would be inappropriate due to actual or likely
     conflicts of interest between them or the indemnifying party shall have
     failed to employ counsel within a reasonable period of time, and in that
     event the fees and expenses of one firm of separate counsel (in addition to
     the fees and expenses of one firm of local counsel in each applicable
     jurisdiction) shall be paid by the indemnifying party. No indemnifying
     party shall, without the prior written consent of the indemnified party,
     effect any settlement of any pending or threatened action in respect of
     which any indemnified party is or could have been a party and indemnity
     could have been sought hereunder by such indemnified party unless such
     settlement (i) includes an unconditional release of such indemnified party
     from all liability on any claims that are the subject matter of such
     action, and (ii) does not include a statement as to or an admission of
     fault, culpability or a failure to act by or on behalf of any indemnified
     party.

         (d) If the indemnification provided for in this Section 5 is
     unavailable or insufficient to hold harmless an indemnified party under
     subsections (a) or (b) above, then each indemnifying party shall contribute
     to the amount paid or payable by such indemnified party as a result of the
     losses, claims, damages or liabilities (or actions in respect thereof)
     referred to in subsection (a) or (b) above in such proportion as is
     appropriate to reflect the relative fault of the indemnifying party or
     parties on the one hand and the indemnified party on the other in
     connection with the statements or omissions that resulted in such losses,
     claims, damages or liabilities (or actions in respect thereof) as well as
     any other relevant equitable considerations. The relative fault of the
     parties shall be determined by reference to, among other things, whether
     the untrue or alleged untrue statement of a material fact or the omission
     or alleged omission to state a material fact relates to information
     supplied by the Company on the one hand or such Holder or such other
     indemnified party, as the case may be, on the other, and the parties'
     relative intent, knowledge, access to information and opportunity to
     correct or prevent such statement or omission. The amount paid by an
     indemnified party as a result of the losses, claims, damages or liabilities
     referred to in the first sentence of this subsection (d) shall be deemed to
     include any legal or other expenses reasonably incurred by such indemnified
     party in connection with investigating or defending any action or claim
     which is the subject of this subsection (d). Notwithstanding any other
     provision of this Section 5(d), the Holders of the Securities shall not be
     required to contribute any amount in excess of the amount by which the net
     proceeds received by such Holders from the sale of the Securities pursuant
     to a Registration Statement exceeds the amount of damages which such
     Holders have otherwise been required to pay by reason of such untrue or
     alleged untrue statement or omission or alleged omission. No person guilty
     of fraudulent misrepresentation (within the meaning of Section 11(f) of the
     Securities Act) shall be entitled to contribution from any person who was
     not guilty of such fraudulent misrepresentation. For purposes of this
     paragraph (d), each person, if any, who controls such indemnified party
     within the meaning of the Securities Act or the Exchange Act shall have the
     same rights to contribution as such indemnified party and each person, if
     any, who controls the Company within the meaning of the Securities Act or
     the Exchange Act shall have the same rights to contribution as the Company.

         (e) The agreements contained in this Section 5 shall survive the sale
     of the Securities pursuant to a Registration Statement and shall remain in
     full force and effect, regardless of any termination or cancellation of
     this Agreement or any investigation made by or on behalf of any indemnified
     party.

     6. Additional Interest Under Certain Circumstances.

         (a) Additional interest (the "ADDITIONAL INTEREST") with respect to
     each Transfer Restricted Security shall be assessed as follows if either of
     the following events occur (each such event in clauses (i) and (ii) below
     being herein called an "REGISTRATION DEFAULT"):

                                       13

               (i) any Registration Statement required by this Agreement is not
         declared effective by the Commission on or prior to the applicable
         Effectiveness Deadline; or

               (ii) on and after the applicable Effectiveness Deadline (plus an
         additional 30 days in respect of the Exchange Offer Registration
         Statement), any Registration Statement required by this Agreement has
         been declared effective by the Commission but (A) such Registration
         Statement thereafter ceases to be effective or (B) such Registration
         Statement or the related prospectus ceases to be usable in connection
         with resales of Transfer Restricted Securities during the periods
         specified herein because (1) any event occurs as a result of which the
         related prospectus forming part of such Registration Statement would
         include any untrue statement of a material fact or omit to state any
         material fact necessary to make the statements therein in the light of
         the circumstances under which they were made not misleading, (2) it
         shall be necessary to amend such Registration Statement or supplement
         the related prospectus to comply with the Securities Act or the
         Exchange Act or the respective rules thereunder or (3) of a Suspension
         by the Company in accordance with Section 3(w) hereof.

     Each of the foregoing will constitute a Registration Default whatever the
     reason for any such event and whether it is voluntary or involuntary or is
     beyond the control of the Company or pursuant to operation of law or as a
     result of any action or inaction by the Commission .

     Additional Interest shall accrue on each Transfer Restricted Security over
     and above the interest set forth in the title of such Transfer Restricted
     Security from and including the date on which any such Registration Default
     shall occur to but excluding the date on which all such Registration
     Defaults have ceased to be continuing, at a rate of 0.50% per annum (the
     "ADDITIONAL INTEREST RATE").

         (b) A Registration Default referred to in Section 6(a)(ii) hereof shall
     be deemed not to have occurred and be continuing in relation to a Shelf
     Registration Statement or the related prospectus if (i) such Registration
     Default has occurred solely as a result of (x) the filing of a
     post-effective amendment to such Shelf Registration Statement to
     incorporate annual audited financial information with respect to the
     Company where such post-effective amendment is not yet effective and needs
     to be declared effective to permit Holders to use the related prospectus or
     (y) other material events with respect to the Company that would need to be
     described in such Shelf Registration Statement or the related prospectus
     and (ii) in the case of clause (y), the Company is proceeding promptly and
     in good faith to amend or supplement such Shelf Registration Statement and
     related prospectus to describe such events; provided, however, that in any
     case if such Registration Default occurs for a continuous period in excess
     of 30 days, Additional Interest shall be payable in accordance with the
     above paragraph from the date of such Registration Default until such
     Registration Default ceases.

         (c) Notwithstanding the foregoing, the Company shall not be required to
     pay the Additional Interest required pursuant to paragraph (a) above to a
     Holder of Transfer Restricted Securities if the applicable Registration
     Default arises by reason of the failure of such Holder to provide such
     information as (i) the Company may reasonably request, with reasonable
     prior written notice, for use in the Shelf Registration Statement or any
     prospectus included therein to the extent the Company reasonably determines
     that such information is required to be included therein by applicable law,
     (ii) the NASD or the Commission may request in connection with such Shelf
     Registration Statement or (iii) is required to comply with the agreements
     of such Holder contained in Section 3(a) to the extent compliance thereof
     is necessary for the Shelf Registration Statement to be declared effective.

                                       14

         (d) Any amounts of Additional Interest due pursuant to Section 6(a)
     will be payable in cash on the regular interest payment dates with respect
     to the Securities. The amount of Additional Interest will be determined by
     multiplying the applicable Additional Interest Rate by the principal amount
     of the Securities and further multiplied by a fraction, the numerator of
     which is the number of days such Additional Interest Rate was applicable
     during such period (determined on the basis of a 360-day year comprised of
     twelve 30-day months), and the denominator of which is 360.

         (e) "TRANSFER RESTRICTED SECURITIES" means each Security until (i) the
     date on which such Security has been exchanged by a person other than a
     broker-dealer for a freely transferable Exchange Security in the Registered
     Exchange Offer, (ii) following the exchange by a broker-dealer in the
     Registered Exchange Offer of an Initial Security for an Exchange Security,
     the date on which such Exchange Security is sold to a purchaser who
     receives from such broker-dealer on or prior to the date of such sale a
     copy of the prospectus contained in the Exchange Offer Registration
     Statement, (iii) the date on which such Security has been effectively
     registered under the Securities Act and disposed of in accordance with the
     Shelf Registration Statement or (iv) the date on which such Security is
     distributed to the public pursuant to Rule 144 under the Securities Act or
     is saleable pursuant to Rule 144(k) under the Securities Act.

     7. Rules 144 and 144A. The Company agrees with each Holder, for so long as
any Transfer Restricted Securities remain outstanding and during any period in
which the Company (i) is not subject to Section 13 or 15(d) of the Exchange Act,
to make available, upon request of any Holder, to such Holder or beneficial
owner of Transfer Restricted Securities in connection with any sale thereof and
any prospective purchaser of such Transfer Restricted Securities designated by
such Holder or beneficial owner, the information required by Rule 144A(d)(4)
under the Securities Act in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144A, and (ii) is subject to Section 13 or 15(d) of
the Exchange Act, to make all filings required thereby in a timely manner in
order to permit resales of such Transfer Restricted Securities pursuant to Rule
144.

     8. Underwritten Registrations. If any of the Transfer Restricted Securities
covered by any Shelf Registration are to be sold in an underwritten offering,
subject to the proviso in Section 3(o) hereof, the investment banker or
investment bankers and manager or managers that will administer the offering
("MANAGING UNDERWRITERS") will be selected by the Holders of a majority in
aggregate principal amount of such Transfer Restricted Securities to be included
in such offering and will be reasonably acceptable to the Company.

     No person may participate in any underwritten registration hereunder unless
such person (i) agrees to sell such person's Transfer Restricted Securities on
the basis reasonably provided in any underwriting arrangements approved by the
persons entitled hereunder to approve such arrangements and (ii) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements.

     9.  Miscellaneous.

         (a) Remedies. The Company acknowledges and agrees that any failure by
     the Company to comply with its obligations under Section 1 and 2 hereof may
     result in material irreparable injury to the Initial Purchasers or the
     Holders for which there is no adequate remedy at law, that it will not be
     possible to measure damages for such injuries precisely and that, in the
     event of any such failure, the Initial Purchasers or any Holder may obtain
     such relief as may be required to specifically enforce the Company's
     obligations under Sections 1 and 2 hereof. The Company further agrees to
     waive the defense in any action for specific performance that a remedy at
     law would be adequate.

                                       15

         (b) No Inconsistent Agreements. The Company will not on or after the
     date of this Agreement enter into any agreement with respect to its
     securities that is inconsistent with the rights granted to the Holders in
     this Agreement or otherwise conflicts with the provisions hereof. The
     Company hereby represents that the rights granted to the Holders hereunder
     do not conflict with and are not inconsistent with the rights granted to
     the holders of the Company's securities under any agreement in effect on
     the date hereof.

         (c) Amendments and Waivers. The provisions of this Agreement may not be
     amended, modified or supplemented, and waivers or consents to departures
     from the provisions hereof may not be given, except by the Company and the
     written consent of the Holders of a majority in principal amount of the
     Securities affected by such amendment, modification, supplement, waiver or
     consents; provided, however, that, with respect to any matter that directly
     or indirectly adversely affects the rights of any Holder of Transfer
     Restricted Securities occurring within the period in which any Registration
     Statement is effective for such Holder, the Company shall obtain the
     written consent of each such Holder against which such amendment,
     modification, supplement, waiver, consent or departure is to be effective.
     Notwithstanding the foregoing (except of the foregoing proviso), a waiver
     or consent to departure from the provisions hereof with respect to a matter
     that relates exclusively to the rights of any Holder of Securities whose
     Securities are being sold or exchanged pursuant to a Registration Statement
     and that does not directly or indirectly adversely affect the rights of any
     other Holder of Securities may be given by Holders of at least a majority
     in aggregate principal amount of the Securities being sold or exchanged by
     such holders pursuant to such Registration Statement; provided, however,
     that the provisions of this sentence may not be amended, modified or
     supplemented except in accordance with the provisions of the immediately
     preceding sentence. Without the consent of the Holder of each Security,
     however, no modification may change the provisions relating to the payment
     of Additional Interest.

         (d) Notices. All notices and other communications provided for or
     permitted hereunder shall be made in writing by hand delivery, first-class
     mail, facsimile transmission, or air courier which guarantees overnight
     delivery:

               (1) if to a Holder of the Securities, at the most current address
         given by such Holder to the Company.

               (2) if to the Initial Purchasers;

               Credit Suisse First Boston LLC
               Eleven Madison Avenue
               New York, NY 10010-3629
               Fax No.:   (212) 325-8278
               Attention: Transactions Advisory Group

         with a copy to:

               Latham & Watkins LLP
               885 Third Avenue, Suite 1000
               New York, NY 10022-4802
               Fax No.: (212) 751-4864
               Attention: Jonathan R. Rod

               (3) if to the Company, at its address as follows:

                                       16

               MidAmerican Energy Holdings Company
               666 Grand Avenue
               Des Moines, IA 50303
               Fax No.: 402-345-9318
               Attention: General Counsel

         with a copy to:

               Willkie Farr & Gallagher
               787 Seventh Avenue
               New York, NY 10019
               Fax No.: 212-728-8111
               Attention: Peter J. Hanlon

               All such notices and communications shall be deemed to have been
         duly given: at the time delivered by hand, if personally delivered;
         three business days after being deposited in the mail, postage prepaid,
         if mailed; when receipt is acknowledged by recipient's facsimile
         machine operator, if sent by facsimile transmission; and on the day
         delivered, if sent by overnight air courier guaranteeing next day
         delivery.

         (e) Third Party Beneficiaries. The Holders shall be third party
     beneficiaries to the agreements made hereunder between the Company, on the
     one hand, and the Initial Purchasers, on the other, and shall have the
     right to enforce such agreements directly to the extent they may deem such
     enforcement necessary or advisable to protect their rights or the rights of
     Holders hereunder.

         (f) Successors and Assigns. This Agreement shall be binding upon the
     Company and its successors and assigns.

         (g) Counterparts. This Agreement may be executed in any number of
     counterparts and by the parties hereto in separate counterparts, each of
     which when so executed shall be deemed to be an original and all of which
     taken together shall constitute one and the same agreement.

         (h) Headings. The headings in this Agreement are for convenience of
     reference only and shall not limit or otherwise affect the meaning hereof.

         (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
     IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
     PRINCIPLES OF CONFLICTS OF LAWS.

         (j) Severability. If any one or more of the provisions contained
     herein, or the application thereof in any circumstance, is held invalid,
     illegal or unenforceable, the validity, legality and enforceability of any
     such provision in every other respect and of the remaining provisions
     contained herein shall not be affected or impaired thereby.

         (k) Securities Held by the Company. Whenever the consent or approval of
     Holders of a specified percentage of principal amount of Securities is
     required hereunder, Securities held by the Company or its affiliates (other
     than subsequent Holders of Securities if such subsequent Holders are deemed
     to be affiliates solely by reason of their holdings of such Securities)
     shall not be counted in determining whether such consent or approval was
     given by the Holders of such required percentage.

                                       17

         (l) Submission to Jurisdiction. Each of the parties hereto hereby
     submits to the non-exclusive jurisdiction of the Federal and State Courts
     of the Borough of Manhattan in the City of New York in any suit or
     proceeding arising out of or relating to this Agreement or the transactions
     contemplated hereby.

                                       18

     If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the Company a counterpart hereof, whereupon this
instrument, along with all counterparts, will become a binding agreement among
the several Initial Purchasers and the Company in accordance with its terms.

                                         Very truly yours,

                                         MIDAMERICAN ENERGY HOLDINGS COMPANY

                                         By: /s/ Douglas L. Anderson
                                            -----------------------------------
                                            Name:  Douglas L. Anderson
                                            Title: Senior Vice President and
                                                   General Counsel

The foregoing Registration
Rights Agreement is hereby confirmed
and accepted as of the date first
above written.

CREDIT SUISSE FIRST BOSTON LLC
ABN AMRO INCORPORATED
BANC ONE CAPITAL MARKETS, INC.
BNP PARIBAS SECURITIES CORP.

By:  CREDIT SUISSE FIRST BOSTON LLC

By: /s/ Bruce MacLennan
   ----------------------------------
Name:  Bruce MacLennan
Title: Director

                         (Registration Rights Agreement)

                                                                         ANNEX A

     Each broker-dealer that receives Exchange Securities for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. The Letter
of Transmittal states that by so acknowledging and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act. This Prospectus, as it may be amended or
supplemented from time to time, may be used by a broker-dealer in connection
with resales of Exchange Securities received in exchange for Initial Securities
where such Initial Securities were acquired by such broker-dealer as a result of
market-making activities or other trading activities. The Company has agreed
that, for a period of 120 days after the Expiration Date (as defined herein), it
will make this Prospectus available to any broker-dealer for use in connection
with any such resale. See "Plan of Distribution."

                                                                         ANNEX B

     Each broker-dealer that receives Exchange Securities for its own account in
exchange for Initial Securities, where such Initial Securities were acquired by
such broker-dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Securities. See "Plan of Distribution."

                                                                         ANNEX C

                              PLAN OF DISTRIBUTION

     Each broker-dealer that receives Exchange Securities for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. This
Prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of Exchange Securities received in
exchange for Initial Securities where such Initial Securities were acquired as a
result of market-making activities or other trading activities. The Company has
agreed that, for a period of 120 days after the Expiration Date, it will make
this prospectus, as amended or supplemented, available to any broker-dealer for
use in connection with any such resale. In addition, until         , 200 , all
dealers effecting transactions in the Exchange Securities may be required to
deliver a prospectus.(1)

     The Company will not receive any proceeds from any sale of Exchange
Securities by broker-dealers. Exchange Securities received by broker-dealers for
their own account pursuant to the Exchange Offer may be sold from time to time
in one or more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the Exchange Securities or a
combination of such methods of resale, at market prices prevailing at the time
of resale, at prices related to such prevailing market prices or negotiated
prices. Any such resale may be made directly to purchasers or to or through
brokers or dealers who may receive compensation in the form of commissions or
concessions from any such broker-dealer or the purchasers of any such Exchange
Securities. Any broker-dealer that resells Exchange Securities that were
received by it for its own account pursuant to the Exchange Offer and any broker
or dealer that participates in a distribution of such Exchange Securities may be
deemed to be an "underwriter" within the meaning of the Securities Act and any
profit on any such resale of Exchange Securities and any commission or
concessions received by any such persons may be deemed to be underwriting
compensation under the Securities Act. The Letter of Transmittal states that, by
acknowledging that it will deliver and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act.

     For a period of 120 days after the Expiration Date the Company will
promptly send additional copies of this Prospectus and any amendment or
supplement to this Prospectus to any broker-dealer that requests such documents
in the Letter of Transmittal. The Company has agreed to pay all expenses
incident to the Exchange Offer (including the expenses of one counsel for the
Holders of the Securities) other than commissions or concessions of any brokers
or dealers and will indemnify the Holders of the Securities (including any
broker-dealers) against certain liabilities, including liabilities under the
Securities Act.

----------------
(1) In addition, the legend required by Item 502(e) of Regulation S-K will
appear on the inside front cover page of the Exchange Offer prospectus below the
Table of Contents.

                                                                         ANNEX D

[ ] CHECK HERE IF YOU ARE A BROKER-DEALER WHO ACQUIRED THE INITIAL SECURITIES
FOR YOUR OWN ACCOUNT AS A RESULT OF MARKET MAKING ACTIVITIES OR OTHER TRADING
ACTIVITIES AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10
COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

[ ] CHECK HERE IF YOU ARE NOT SUCH A BROKER-DEALER BUT ARE A QUALIFIED
INSTITUTIONAL BUYER OR OTHERWISE RECEIVED THE INITIAL SECURITIES IN A
TRANSACTION OR SERIES OF TRANSACTIONS EXEMPT FROM REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF
THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

           Name:
                    -----------------------------------
           Address:
                    -----------------------------------

If the undersigned is not a broker-dealer, the undersigned represents that it is
not engaged in, and does not intend to engage in, a distribution of Exchange
Securities. If the undersigned is a broker-dealer that will receive Exchange
Securities for its own account in exchange for Initial Securities that were
acquired as a result of market-making activities or other trading activities, it
acknowledges that it will deliver a prospectus in connection with any resale of
such Exchange Securities; however, by so acknowledging and by delivering a
prospectus, the undersigned will not be deemed to admit that it is an
"underwriter" within the meaning of the Securities Act.

                                                                      SCHEDULE A

Additional Initial Purchasers:

        ABN AMRO Incorporated

        Banc One Capital Markets, Inc.

        BNP Paribas Securities Corp.

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