Document:

<PAGE>
                                                                     EXHIBIT 4.5
                           5.10% Senior Notes due 2014
                          CERTIFICATE OF AUTHENTICATION

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

                                                      J.P. MORGAN TRUST COMPANY,
                                                      NATIONAL ASSOCIATION
                                                      as Trustee,

                                                         By:____________________
                                                            Name:
                                                            Title:

Dated:

<PAGE>

THIS DEBT 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 THEREOF. THIS DEBT SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR
A SECURITY REGISTERED, AND NO TRANSFER OF THIS DEBT SECURITY IN WHOLE OR IN PART
MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A
NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO BERKSHIRE HATHAWAY
FINANCE CORPORATION OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE, OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

<PAGE>

                     BERKSHIRE HATHAWAY FINANCE CORPORATION

                           5.10% SENIOR NOTES DUE 2014

                                                                          CUSIP:
                                                                           ISIN:

NO.                                                                   $[*******]
                                    (as revised by the Schedule of Increases and
                                   Decreases in Global Security attached hereto)

            BERKSHIRE HATHAWAY FINANCE CORPORATION, a corporation duly organized
and existing under the laws of the State of Delaware (herein called the
"Company", which term includes any successor Person under the Indenture
hereinafter referred to), for value received, hereby promises to pay to CEDE &
CO., the registered Holder hereof, the principal sum of [*******] ($[*******])
(as revised by the Schedule of Increases and Decreases in Global Security
attached hereto) on July 15, 2014, and to pay interest thereon from and
including July 19, 2004 or from and including the most recent Interest Payment
Date (as defined below) to which interest has been paid or duly provided for,
semi-annually on January 15 and July 15 in each year, commencing January 15,
2005 (each an "Interest Payment Date"), at the rate of 5.10% per annum (as
adjusted, if at all, pursuant to such Indenture, the "Interest Rate"), until the
principal hereof is paid or made available for payment; provided that any
principal, and any such installment of interest, which is overdue shall bear
interest at the Interest Rate (to the extent that the payment of such interest
shall be legally enforceable), from the dates such amounts are due until they
are paid or made available for payment, and such interest shall be payable on
demand. 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 Debt Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date for such
interest. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may
either be paid to the Person in whose name this Debt 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 Debt 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 Debt Securities of this series may be
listed, and upon such notice as may be required by such exchange, all as more
fully provided in such Indenture.

            Payment of the principal of and interest on this Debt Security will
be made at the office or agency of the Company maintained for that purpose in
the City of New York, New York (or, if the Company does not maintain such office
or agency, at the corporate trust office of the Trustee in the City of New York
or if the Trustee does not maintain an office in the City of New York, at the
office of a Paying Agent in the City of New York), in such coin or currency of
the United States of America as at the time of payment is legal tender for
payment of public and private debt; provided, however, that at the option of the
Company payments of principal or interest may be made by check mailed to the
address of the Person entitled thereto as such address shall appear in the
Security Register.

            This Debt Security may be redeemed, in whole or in part, at the
option of the Company, at any time prior to its maturity at a redemption price
equal to the greater of (A) 100% of the principal amount to be redeemed or (B)
as determined by the Quotation Agent, the sum of the

<PAGE>

present values of the remaining scheduled payments of principal and interest on
the portion of this Debt Security being redeemed, not including any portion of
such payments of interest accrued as of the date fixed for redemption,
discounted to the date fixed for redemption on a semi-annual basis assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate
plus ten basis points, plus, in each case, accrued interest on the portion of
this Debt Security being redeemed to the date fixed for redemption.

            The Quotation Agent will select a Comparable Treasury Issue, and the
Reference Dealers will provide the Company and the Trustee with the Reference
Dealer Quotations. The Company will calculate the Comparable Treasury Price.

            "Adjusted Treasury Rate" means, for any date fixed for redemption,
the rate per year equal to the semi-annual equivalent yield to maturity of the
Comparable Treasury Issue assuming a price for the Comparable Treasury Issue
equal to the Comparable Treasury Price for the date fixed for redemption, in
each case expressed as a percentage of its principal amount.

            "Comparable Treasury Issue" means, for any date fixed for
redemption, the U.S. Treasury security selected by the Quotation Agent which has
a maturity comparable to the remaining maturity of this Debt Security as of the
date fixed for redemption, which would be used in accordance with customary
financial practice to price new issues of corporate debt securities with a
maturity comparable to the remaining maturity of this Debt Security as of the
date fixed for redemption.

            "Comparable Treasury Price" means, for any Comparable Treasury
Issue, the price after eliminating the highest and the lowest Reference Dealer
Quotations and then calculating the average of the remaining Reference Dealer
Quotations; provided, however, if the Company obtains fewer than three Reference
Dealer Quotations, the Company will, when calculating the Comparable Treasury
Price, calculate the average of all the Reference Dealer Quotations and not
eliminate any such quotations.

            "Quotation Agent" means Goldman, Sachs & Co. or its successor.

            "Reference Dealers" means Goldman, Sachs & Co. or its successor and
two or more other primary U.S. Government securities dealers in the City of New
York appointed by the Company, provided, however, that if Goldman, Sachs & Co.
or its successor ceases to be a primary U.S. Government securities dealer, the
Company will appoint another primary U.S. Government securities dealer as a
substitute.

            "Reference Dealer Quotations" means, for any Comparable Treasury
Issue, the average of the bid and asked prices for such Comparable Treasury
Issue (expressed in each case as a percentage of its principal amount) quoted in
writing by the Reference Dealers to the Company and the Trustee as of 5:00 p.m.
(EST) on the third business day before the relevant date fixed for redemption.

            "Regular Record Date" means, with respect to any Interest Payment
Date, January 1 or July 1, as the case may be, immediately preceding such
Interest Payment Date.

            The Company may elect to effect a redemption in accordance with
these provisions at any time and on any date. However, the Company must give the
Holders of this Debt Security notice, as provided in the Indenture, of the
redemption not less than 30 days or more than 60 days before the date fixed for
redemption. If the Company elects to redeem fewer than the full principal amount
of this Debt Security, the Trustee will select the amount to be redeemed on a
pro rata basis, by lot or by such other method of random selection, if any, that
the Trustee deems fair and appropriate.

<PAGE>

            Reference is hereby made to the further provisions of this Debt
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 Debt
Security shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

<PAGE>

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

Dated:                                 BERKSHIRE HATHAWAY FINANCE
                                       CORPORATION

                                       By: _________________________
                                       Name: Marc D. Hamburg
                                       Title: President

Attest:

______________________
Name: Jerry W. Hufton
Title: Secretary

<PAGE>

                           [REVERSE OF DEBT SECURITY]

            This Debt Security is one of a duly authorized series of notes of
the Company (herein called the "Debt Securities"), issued and to be issued in
one or more series under an Indenture, dated as of December 22, 2003 (herein
called the "Base Indenture", and as supplemented by (i) the Officers'
Certificate, dated as of December 22, 2003, (ii) the Officers' Certificate,
dated as of May 7, 2004, (iii) the Officers' Certificate, dated as of July 19,
2004, (iv) the Officers' Certificate, dated as of September 20, 2004 and (v) the
Officers' Certificate, dated as of [*****], together with the Base Indenture,
called the "Indenture"), among the Company, as issuer, Berkshire Hathaway Inc.,
as guarantor (herein the "Guarantor" which term includes any successor Guarantor
under the Indenture) and J.P. Morgan Trust Company, National Association, as
Trustee (herein called the "Trustee", which term includes any successor trustee
under the Indenture), and reference is hereby made to the Indenture for a
statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Guarantor, the Trustee and the Holders of the
Debt Securities and of the terms upon which the Debt Securities are, and are to
be, authenticated and delivered. This Debt Security is one of the series of Debt
Securities, which series consists of both 3.40% Senior Notes due 2007 and 5.10%
Senior Notes due 2014.

            This Debt Security does not have the benefit of any sinking fund
obligation.

            The Indenture contains provisions for defeasance at any time of the
entire Indebtedness of this Debt Security or of certain restrictive covenants
and Events of Default with respect to this Debt Security, in each case upon
compliance with certain conditions set forth in the Indenture.

            If an Event of Default with respect to the Debt Securities of this
series shall occur and be continuing, the principal of the Debt Securities of
this series may be declared due and payable in the manner and with the effect
provided in the Indenture.

            The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Company and/or the Guarantor and the rights of the Holders of the Debt
Securities and/or the Guarantees of each series to be affected under the
Indenture at any time by the Company, the Guarantor and the Trustee with the
consent of the Holders of a majority in principal amount of the Debt 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 Debt Securities of each series at the time Outstanding, on behalf
of the Holders of all Debt Securities of such series, to waive compliance by the
Company and/or the Guarantor 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 Debt Security shall be conclusive and
binding upon such Holder and upon all future Holders of this Debt Security and
of any Debt 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 Debt Security.

            As provided in and subject to the provisions of the Indenture, the
Holder of this Debt Security shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or
trustee or for any other remedy thereunder, unless such Holder shall have
previously given the Trustee written notice of a continuing Event of Default
with respect to the Debt Securities of this series, the Holders of not less than
25% in principal amount of the Debt Securities of this series at the time
Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the
Trustee indemnity or security reasonably satisfactory to it, and the Trustee
shall not have received

<PAGE>

from the Holders of a majority in principal amount of Debt Securities of this
series at the time Outstanding a direction inconsistent with such request, and
shall have failed to institute any such proceeding, for 60 days after receipt of
such notice, request and offer of indemnity. The foregoing shall not apply to
any suit instituted by the Holder of this Debt 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.

            No reference herein to the Indenture and no provision of this Debt
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 any
interest on this Debt Security at the times, place and rate, and in the coin or
currency, herein prescribed.

            As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Debt Security is registrable in the
Security Register, upon surrender of this Debt Security for registration of
transfer at the office or agency of the Company in any place where the principal
of and any premium and interest on this Debt 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
its attorney duly authorized in writing, and thereupon one or more new Debt
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 Indenture and this Debt Security are governed by the laws of the
State of New York, without regard to conflicts of laws provisions thereof.

            The Debt Securities of this series are issuable in registered form
without coupons in minimum denominations of $2,000 and integral multiples of
$1,000 in excess thereof. As provided in the Indenture and subject to certain
limitations therein set forth, Debt Securities of this series are exchangeable
for a like aggregate principal amount of Debt Securities of this series and of
like tenor of a different authorized denomination, as requested by the Holder
surrendering the same.

            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 Debt Security for registration of
transfer, the Company, the Guarantor, the Trustee and any agent thereof may
treat the Person in whose name this Debt Security is registered as the owner
hereof for all purposes, whether or not this Debt Security be overdue, and none
of the Company, the Guarantor, the Trustee or any such agent shall be affected
by notice to the contrary.

            All terms used in this Debt Security which are not defined herein
and are defined in the Indenture shall have the meanings assigned to them in the
Indenture.

<PAGE>

                                  GUARANTEE OF
                             BERKSHIRE HATHAWAY INC.

      FOR VALUE RECEIVED, Berkshire Hathaway Inc., a Delaware corporation (the
"Guarantor"), hereby absolutely, unconditionally and irrevocably guarantees to
the holders (the "Holders") of any security authenticated and delivered (each a
"Security") by J.P. Morgan Trust Company, National Association, as trustee (the
"Trustee") under that certain Indenture, dated as of December 22, 2003 (the
"Indenture"), among the Trustee, the Guarantor and Berkshire Hathaway Finance
Corporation, a Delaware corporation ("Issuer"), the full and prompt payment when
due (whether at stated maturity, by acceleration or otherwise) of all present
and future payment obligations of the Issuer pursuant to the terms of such
Security and/or the Indenture, whether direct or indirect, absolute or
contingent, and whether for principal, interest, fees, expenses, indemnification
or otherwise (collectively, the "Obligations"). Nothing herein shall be deemed
to guarantee any obligation of the Issuer other than the Obligations. Nothing
herein shall be deemed to guarantee any obligation of any person or entity other
than the Issuer.

      The Guarantor's obligations hereunder shall be unconditional and absolute,
and shall not be released, discharged or otherwise affected by (i) the
existence, validity, enforceability, perfection or extent of any collateral
therefor, (ii) any lack of validity or enforceability of any provision of the
Security or the Indenture, (iii) any liquidation, bankruptcy, insolvency,
reorganization or other similar proceeding affecting the Issuer or its assets,
or (iv) any other circumstance relating to the Obligations that might otherwise
constitute a legal or equitable discharge of, or defense to, the Guarantor. The
Guarantor agrees that the Holders and/or the Trustee may resort to the
Guarantor, as primary obligor and not merely as surety, for payment of any of
the Obligations whether or not the Holders or the Trustee shall have proceeded
against the Issuer or any other obligor principally or secondarily obligated
with respect to any of the Obligations. Neither the Holders nor the Trustee
shall be obligated to file any claim relating to any of the Obligations in the
event that the Issuer becomes subject to a bankruptcy, reorganization or similar
proceeding, and the failure of the Holders or the Trustee to so file shall not
affect the Guarantor's obligations hereunder. In the event that any payment to
the Holders by the Issuer in respect of any Obligations is rescinded or must
otherwise be returned for any reason whatsoever, the Guarantor shall remain
liable hereunder with respect to such Obligations as if such payment had not
been made.

      The Guarantor agrees that, subject to the Indenture, the Holders and/or
the Trustee may at any time and from time to time, either before or after the
maturity thereof, without notice to or further consent of the Guarantor, extend
the time of payment of, exchange or surrender any collateral for, or renew any
of the Obligations, and may also make any agreement with the Issuer or with any
other party to or person liable on any of the Obligations or interested therein,
for the extension, renewal, payment, compromise, discharge or release thereof,
in whole or in part, or for any modification of the terms thereof or of any
agreement between the Holders, the Trustee and the Issuer or any such other
party or person, and that none of the foregoing shall in any way impair or
affect this Guarantee. The Guarantor hereby unconditionally and irrevocably
waives, to the fullest extent permitted by law, (a) notice of the acceptance of
this Guarantee and of the Obligations, presentment, demand for payment, notice
of dishonor and protest, (b) any requirement that any Holder exhaust any right
or take any action against the Issuer, and (c) any right to revoke this
Guarantee.

<PAGE>

      The Guarantor agrees to pay on demand all fees and out-of-pocket expenses
incurred by the Holders or the Trustee in any way relating to the enforcement or
protection of the rights of the Holders and/or the Trustee hereunder.

      Upon payment of any of the Obligations, the Guarantor shall be subrogated
to the rights of the Holders and/or the Trustee against the Issuer with respect
to such Obligations, and the Holders and the Trustee agree to take such steps,
at the Guarantor's expense, as the Guarantor may reasonably request to implement
such subrogation; provided, however, that the Guarantor shall not be entitled to
enforce, or to receive any payments arising out of or based upon, such right of
subrogation during any period in which any amount payable by the Issuer under
the Security or the Indenture is overdue or unpaid.

      No failure on the part of the Holders or the Trustee to exercise, and no
delay in exercising, any right, remedy or power hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise by the Holders or the
Trustee of any right, remedy or power hereunder preclude any other or future
exercise of any right, remedy or power. Each and every right, remedy and power
hereby granted to the Holders or the Trustee or allowed any of them by law or
other agreement shall be cumulative and not exclusive of any other, and may be
exercised by the Holders or the Trustee at any time or from time to time.

      The Guarantor hereby represents and warrants that:

(a)   the Guarantor is duly organized, validly existing and in good standing as
a corporation under the laws of the State of Delaware and has full corporate
power to execute, deliver and perform this Guarantee;

(b)   the execution, delivery and performance of this Guarantee have been and
remain duly authorized by all necessary corporate action and do not contravene
any provision of the Guarantor's certificate of incorporation or by-laws, as
amended to date, or any law, regulation, rule, decree, order, judgment or
contractual restriction binding on the Guarantor or its assets;

(c)   all consents, licenses, clearances, authorizations and approvals of, and
registrations and declarations with, any governmental authority or regulatory
body necessary for the due execution, delivery and performance of this Guarantee
have been obtained and remain in full force and effect and all conditions
thereof have been duly complied with, and no other action by, and no notice to
or filing with, any governmental authority or regulatory body is required in
connection with the execution, delivery or performance of this Guarantee;

(d)   this Guarantee constitutes a legal, valid and binding obligation of the
Guarantor enforceable against the Guarantor in accordance with its terms,
subject to bankruptcy, insolvency, reorganization, moratorium and other laws of
general applicability relating to or affecting creditors' rights and to general
equity principles; and

(e)   there are no actions, suits or arbitration proceedings pending or, to the
knowledge of the Guarantor, threatened against it, at law or in equity, which,
individually or in the aggregate, if adversely determined, would materially
adversely affect the financial condition of the Guarantor or materially impair
its ability to perform its obligations under this Guarantee.

      The Guarantor may not assign its obligations hereunder to any person
(except as permitted by the Indenture) without the prior written consent of the
Holders or the Trustee.

<PAGE>

      All payments by the Guarantor to the Holders or the Trustee shall be made
in accordance with the provisions of the Indenture and the Security; provided,
however, that payment of any fees or expenses pursuant to the fourth paragraph
hereof shall be made by wire transfer of immediately available funds to an
account at a commercial bank in the United States specified to the Guarantor at
least ten (10) days in advance of any demand for payment by the Holders or the
Trustee.

      All notices or demands on the Guarantor shall be deemed effective when
received, shall be in writing and shall be delivered by hand or by registered
mail, or by facsimile transmission promptly confirmed by registered mail,
addressed to the Guarantor at:

          Berkshire Hathaway Inc.
          1440 Kiewit Plaza
          Omaha, NE 68131
          Attention: Chief Financial Officer
          Facsimile: (402) 346-3375

or to such other addresses or facsimile numbers as the Guarantor shall have
notified the Holders or the Trustee in a written notice delivered in accordance
with the Indenture.

      This Guarantee shall remain in full force and effect and shall be binding
on the Guarantor, its successors and assigns until all of the Obligations have
been satisfied in full.

      This Guarantee shall be governed by, and construed in accordance with, the
laws of the State of New York applicable to contracts made and to be performed
solely within such State.

      No amendment or waiver of any provision of this Guarantee shall in any
event be effective unless the same shall be in writing and signed by the Trustee
and the Guarantor.

      If for any reason any provision or provisions hereof are determined to be
invalid and contrary to any existing or future law, such invalidity shall not,
to the fullest extent permitted by law, impair the operation of or effect of
those portions of this Guarantee that are valid.

      THE GUARANTOR WAIVES ANY RIGHT IT MAY HAVE TO A JURY TRIAL IN CONNECTION
WITH ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATED IN ANY WAY TO THIS
GUARANTEE.

<PAGE>

Dated:                                     BERKSHIRE HATHAWAY INC.

                                           By:________________________________
                                               Name:  Marc D. Hamburg
                                               Title: Chief Financial Officer

<PAGE>

              SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

      The following increases or decreases in this Debt Security have been made:

<TABLE>
<CAPTION>
                     Amount of decrease    Amount of increase   Principal amount of        Signature of
                        in principal       in principal amount  this Debt Security     authorized signatory
                       amount of this         of this Debt        following such          of Trustee or
Date of exchange        Debt Security           Security        decrease or increase     Security Custodian
----------------     ------------------    ------------------  ---------------------   --------------------
<S>                  <C>                   <C>                 <C>                     <C>
</TABLE>

<PAGE>

                                   ASSIGNMENT

        FOR VALUE RECEIVED, the undersigned assigns and transfers this Debt
        Security to:

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

        ------------------------------------------------------------------------
        (Insert assignee's social security or tax identification number)

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

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

        ------------------------------------------------------------------------
                    (Insert address and zip code of assignee)

and irrevocably appoints _______ as agent to transfer this Debt Security on the
Security Register. The agent may substitute another to act for him or her.

      Dated:                   Signature:

                          Signature Guarantee:

  (Sign exactly as your name appears on the other side of this Debt Security)

            Signatures must be guaranteed by an "eligible guarantor institution"
meeting the requirements of the Security Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program
("STAMP") or such other "signature guarantee program" as may be determined by
the Security Registrar in addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934, as amended.<PAGE>

                                                                     EXHIBIT 4.6

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN
ANY DOUBT AS TO THE ACTION TO BE TAKEN, YOU SHOULD IMMEDIATELY CONSULT YOUR
BROKER, BANK MANAGER, LAWYER, ACCOUNTANT, INVESTMENT ADVISOR OR OTHER
PROFESSIONAL.

         This document relates to an exchange offer (the "EXCHANGE OFFER") made
by Berkshire Hathaway Finance Corporation ("BHFC"). The Exchange Offer is
described in the Prospectus, dated [______] (the "PROSPECTUS"), and in this
Letter of Transmittal (this "LETTER OF TRANSMITTAL"). All terms and conditions
contained or otherwise referred to in the Prospectus are deemed to be
incorporated in and form a part of this Letter of Transmittal. Therefore, you
are urged to read the Prospectus and the items referred to therein carefully.
The terms and conditions contained in the Prospectus, together with the terms
and conditions governing this Letter of Transmittal and the instructions herein,
are collectively referred to below as the "TERMS AND CONDITIONS."

                              LETTER OF TRANSMITTAL
                                   RELATING TO
               THE OFFER BY BERKSHIRE HATHAWAY FINANCE CORPORATION

                    TO EXCHANGE 3.40% SENIOR NOTES DUE 2007,
              UNCONDITIONALLY GUARANTEED BY BERKSHIRE HATHAWAY INC.

                              ("REGISTERED NOTES")

                                       FOR

                          3.40% SENIOR NOTES DUE 2007,
              UNCONDITIONALLY GUARANTEED BY BERKSHIRE HATHAWAY INC.

                              ("OUTSTANDING NOTES")

         THE EXCHANGE OFFER FOR THE OUTSTANDING NOTES WILL EXPIRE AT 5:00 P.M.,
NEW YORK CITY TIME, ON [_____], UNLESS EXTENDED BY BHFC (THE "EXPIRATION DATE").

<PAGE>

     Each holder of Outstanding Notes wishing to accept the Exchange Offer,
except holders of Outstanding Notes executing their tenders through the
Automated Tender Offer Program ("ATOP") procedures of The Depository Trust
Company ("DTC"), should complete, sign and submit this Letter of Transmittal to
the exchange agent, J.P. Morgan Trust Company, National Association (the
"EXCHANGE AGENT"), on or prior to the Expiration Date.

                 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
                          Institutional Trust Services
                                Attn: Frank Ivins
                                2001 Bryan Street
                                   9th Floor
                                Dallas, TX 75201

     DELIVERY OF THIS LETTER OF TRANSMITTAL TO AN ADDRESS, OR TRANSMISSION OF
INSTRUCTIONS VIA A FACSIMILE NUMBER, OTHER THAN AS SET FORTH ABOVE OR IN
ACCORDANCE WITH THE INSTRUCTIONS HEREIN, WILL NOT CONSTITUTE VALID DELIVERY. THE
INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL SHOULD BE READ CAREFULLY
BEFORE THIS LETTER OF TRANSMITTAL IS COMPLETED.

     Questions regarding the Exchange Offer or the completion of this Letter of
Transmittal should be directed to the Exchange Agent, at : 1-800-275-2048.

     This Letter of Transmittal may be used to accept the Exchange Offer if
Outstanding Notes are to be tendered by effecting a book-entry transfer into the
Exchange Agent's account at DTC and instructions are not being transmitted
through DTC's ATOP procedures. Unless you intend to tender Outstanding Notes
through ATOP, you should complete, execute and deliver this Letter of
Transmittal, along with the physical certificates for the Outstanding Notes
specified herein, to indicate the action you desire to take with respect to the
Exchange Offer.

     Holders of Outstanding Notes tendering by book-entry transfer to the
Exchange Agent's account at DTC may execute the tender through ATOP, for which
the Exchange Offer is eligible. Financial institutions that are DTC participants
may execute tenders through ATOP by transmitting acceptance of the Exchange
Offer to DTC on or prior to the Expiration Date. DTC will verify acceptance of
the Exchange Offer, execute a book-entry transfer of the tendered Outstanding
Notes into the account of the Exchange Agent at DTC and send to the Exchange
Agent a "book-entry confirmation," which shall include an agent's message. An
"agent's message" is a message, transmitted by DTC to, and received by, the
Exchange Agent and forming part of a book-entry confirmation, which states that
DTC has received an express acknowledgement from a DTC participant tendering
Outstanding Notes that the participant has received and agrees to be bound by
the terms of the Letter of Transmittal as an undersigned thereof and BHFC may
enforce such agreement against the participant. Delivery of the agent's message
by DTC will satisfy the terms of the Exchange Offer as to execution and delivery
of a Letter of Transmittal by the DTC participant identified in the agent's
message. ACCORDINGLY, HOLDERS WHO TENDER THEIR OUTSTANDING NOTES THROUGH DTC'S
ATOP PROCEDURES SHALL BE BOUND BY, BUT NEED NOT COMPLETE, THIS LETTER OF
TRANSMITTAL.

     Subject to the terms and conditions and applicable law, BHFC will issue:
for each $1,000 principal amount of Outstanding Notes, $1,000 principal amount
of Registered Notes.

     Outstanding Notes may be exchanged in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. Registered Notes will be issued
in minimum denominations of $2,000 and integral multiples of $1,000 in excess
thereof.

     Holders that anticipate tendering other than through DTC are urged to
promptly contact a bank, broker or other intermediary (that has the capability
to hold cash and securities custodially through DTC) to arrange for receipt of
any Registered Notes to be delivered pursuant to the Exchange Offer and to
obtain the information necessary to provide the required DTC participant and
account information in this Letter of Transmittal.

     Registered Notes will be issued in exchange for Outstanding Notes in the
Exchange Offer, if consummated, as soon as practicable after the Expiration Date
of the Exchange Offer (the "SETTLEMENT DATE").

                                       2
<PAGE>

                           TENDER OF OUTSTANDING NOTES

     To effect a valid tender of Outstanding Notes through the completion,
execution and delivery of this Letter of Transmittal, the undersigned must
complete the table below entitled "Description of Outstanding Notes Tendered"
and sign the Letter of Transmittal where indicated.

     Registered Notes will be delivered in book-entry form to holders through
DTC and only to the DTC account of the undersigned or the undersigned's
custodian, as specified below, on the Settlement Date, or as soon as practicable
thereafter.

     Failure to provide the information necessary to effect delivery of
Registered Notes will render such holder's tender defective, and BHFC will have
the right, which it may waive, to reject such tender without notice.

                    DESCRIPTION OF OUTSTANDING NOTES TENDERED
                           (SEE INSTRUCTIONS 2 AND 3)

                    NOTE: SIGNATURES MUST BE PROVIDED BELOW.

              PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY.

<TABLE>
<CAPTION>
                         NAME OF DTC PARTICIPANT AND PARTICIPANT'S ACCOUNT
OUTSTANDING NOTES        NUMBER IN WHICH OUTSTANDING NOTES ARE HELD AND/OR     AGGREGATE PRINCIPAL AMOUNT OF
 BEING TENDERED       THE CORRESPONDING REGISTERED NOTES ARE TO BE DELIVERED.        OUTSTANDING NOTES*
-----------------     -------------------------------------------------------  -----------------------------
<S>                   <C>                                                      <C>
3.40% SENIOR NOTES    -------------------------------------------------------  -----------------------------
DUE 2007              -------------------------------------------------------  -----------------------------

(CUSIP:  084664AJ0)
(CUSIP: U23797AF7)
</TABLE>

*      THE PRINCIPAL AMOUNT OF OUTSTANDING NOTES TENDERED HEREBY MUST BE IN
       DENOMINATIONS OF U.S.$1,000 AND INTEGRAL MULTIPLES OF U.S.$1,000 IN
       EXCESS THEREOF WITH A MINIMUM TENDER REQUIREMENT OF U.S.$2,000. SEE
       INSTRUCTION 3.

                                       3
<PAGE>

         If the aggregate principal amount of the Outstanding Notes specified
was held as of the date of tender by more than one beneficial owner, you may
specify below the break-down of this aggregate principal amount by beneficial
owner, and, in doing so, hereby instruct the Exchange Agent to treat each such
beneficial owner as a separate holder. If the space below is inadequate, attach
a separate signed schedule using the same format.

<TABLE>
<CAPTION>
BENEFICIAL OWNER NAME OR ACCOUNT NUMBER                     PRINCIPAL AMOUNT OF OUTSTANDING NOTES
---------------------------------------                     -------------------------------------
<S>                                                         <C>
---------------------------------------                     -------------------------------------

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

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

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

               TOTAL:
---------------------------------------                     -------------------------------------
</TABLE>

                           SPECIAL RETURN INSTRUCTIONS

  TO BE COMPLETED ONLY IF OUTSTANDING NOTES NOT ACCEPTED FOR EXCHANGE ARE TO BE
 SENT TO SOMEONE OTHER THAN THE PERSON OR PERSONS WHOSE SIGNATURE(S) APPEAR(S)
                       WITHIN THIS LETTER OF TRANSMITTAL.

                               (SEE INSTRUCTION 5)

<TABLE>
<CAPTION>
                    NAME OF DTC PARTICIPANT AND PARTICIPANT'S
                    ACCOUNT NUMBER TO WHICH OUTSTANDING NOTES
                 NOT ACCEPTED FOR EXCHANGE ARE TO BE DELIVERED.
-----------      ----------------------------------------------           ---------------------
<S>              <C>                                                      <C>

</TABLE>

                                       4
<PAGE>

                    NOTE: SIGNATURES MUST BE PROVIDED BELOW.
              PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY.

LADIES AND GENTLEMEN:

     The undersigned hereby tenders to BHFC the aggregate principal amount of
Outstanding Notes indicated in the table above entitled "Description of
Outstanding Notes Tendered."

     The undersigned understands that validly tendered Outstanding Notes (or
defectively tendered Outstanding Notes with respect to which BHFC has, or has
caused to be, waived such defect) will be deemed to have been accepted by BHFC
if, as and when BHFC gives oral or written notice thereof to the Exchange Agent.
The undersigned understands that subject to the terms and conditions,
Outstanding Notes properly tendered and accepted (and not validly withdrawn) in
accordance with the terms and conditions will be exchanged for Registered Notes.
The undersigned understands that Outstanding Notes delivered hereby may be
withdrawn at any time on or prior to the Expiration Date. The undersigned
understands that Outstanding Notes delivered hereby may not be withdrawn at any
time after the Expiration Date unless the Exchange Offer is extended with
changes in the terms of the Exchange Offer that are, in the reasonable judgment
of BHFC, materially adverse to the tendering holder. The undersigned understands
that, under certain circumstances, BHFC may not be required to accept any of the
Outstanding Notes tendered (including any Outstanding Notes tendered after the
Expiration Date). If any Outstanding Notes are not accepted for exchange for any
reason (or if Outstanding Notes are validly withdrawn), such unexchanged (or
validly withdrawn) Outstanding Notes will be returned without expense to the
undersigned's account at DTC or such other account as designated herein pursuant
to the book-entry transfer procedures described in the Prospectus, as promptly
as practicable after the expiration or termination of the Exchange Offer.

     Following the later of the Expiration Date or the date upon which
Outstanding Notes are tendered hereby, and subject to and effective upon BHFC's
acceptance for exchange of the principal amount of the Outstanding Notes
tendered hereby, upon the terms and conditions, the undersigned hereby:

      (1)   irrevocably sells, assigns and transfers to or upon the order of
            BHFC or its nominees, all right, title and interest in and to, and
            any and all claims in respect of or arising or having arisen as a
            result of the undersigned's status as a holder of, all Outstanding
            Notes tendered hereby, such that thereafter it shall have no
            contractual or other rights or claims in law or equity against BHFC
            or any fiduciary, trustee, fiscal agent or other person connected
            with the Outstanding Notes arising under, from or in connection with
            such Outstanding Notes;

      (2)   waives any and all rights with respect to the Outstanding Notes
            tendered hereby (including, without limitation, any existing or past
            defaults and their consequences in respect of such Outstanding
            Notes); and

      (3)   releases and discharges BHFC and J.P. Morgan Trust Company, National
            Association, as trustee (THE "TRUSTEE") from any and all claims the
            undersigned may have, now or in the future, arising out of or
            related to the Outstanding Notes tendered hereby, including, without
            limitation, any and all claims that the undersigned is entitled to
            receive additional principal or interest payments with respect to
            the Outstanding Notes tendered hereby (other than accrued and unpaid
            interest on the Outstanding Notes) or to participate in any
            redemption or defeasance of the Outstanding Notes tendered hereby.

     The undersigned understands that tenders of Outstanding Notes pursuant to
any of the procedures described in the Prospectus and in the instructions in
this Letter of Transmittal and acceptance of such Outstanding Notes by BHFC
will, following such acceptance, constitute a binding agreement between the
undersigned and BHFC upon the terms and conditions.

     All authority conferred or agreed to be conferred by this Letter of
Transmittal shall not be affected by, and shall survive, the death or incapacity
of the undersigned, and any obligation of the undersigned hereunder shall be
binding upon the heirs, executors, administrators, trustees in bankruptcy,
personal and legal representatives, successors and assigns of the undersigned.

                                       5
<PAGE>

     The undersigned hereby represents, warrants and agrees that:

      (1)   it has received and reviewed the Prospectus;

      (2)   it is the beneficial owner (as defined below) of, or a duly
            authorized representative of one or more such beneficial owners of,
            the Outstanding Notes tendered hereby and it has full power and
            authority to execute this Letter of Transmittal;

      (3)   the Outstanding Notes being tendered hereby were owned as of the
            date of tender, free and clear of any liens, charges, claims,
            encumbrances, interests and restrictions of any kind, and BHFC will
            acquire good, indefeasible and unencumbered title to such
            Outstanding Notes, free and clear of all liens, charges, claims,
            encumbrances, interests and restrictions of any kind, when the same
            are accepted by BHFC;

      (4)   it will not sell, pledge, hypothecate or otherwise encumber or
            transfer any Outstanding Notes tendered hereby from the date of this
            Letter of Transmittal and agrees that any purported sale, pledge,
            hypothecation or other encumbrance or transfer will be void and of
            no effect;

      (5)   in evaluating the Exchange Offer and in making its decision whether
            to participate therein by submitting this Letter of Transmittal and
            tendering its Outstanding Notes, the undersigned has made its own
            independent appraisal of the matters referred to in the Prospectus
            and in any related communications and is not relying on any
            statement, representation or warranty, express or implied, made to
            such holder by BHFC or the Exchange Agent other than those contained
            in the Prospectus (as amended or supplemented to the Expiration
            Date);

      (6)   the execution and delivery of this Letter of Transmittal shall
            constitute an undertaking to execute any further documents and give
            any further assurances that may be required in connection with any
            of the foregoing, in each case on and subject to the terms and
            conditions;

      (7)   the submission of this Letter of Transmittal to the Exchange Agent
            shall, subject to a holder's ability to withdraw its tender prior to
            the Expiration Date, and subject to terms and conditions of the
            Exchange Offer generally, constitute the irrevocable appointment of
            the Exchange Agent as its attorney and agent, and an irrevocable
            instruction to such attorney and agent to complete and execute all
            or any form(s) of transfer and other document(s) at the discretion
            of such attorney and agent in relation to the Outstanding Notes
            tendered hereby in favor of BHFC or such other person or persons as
            they may direct and to deliver such form(s) of transfer and other
            document(s) in the attorney's and/or agent's discretion and the
            certificate(s) and other document(s) of title relating to such
            Outstanding Notes' registration and to execute all such other
            documents and to do all such other acts and things as may be in the
            opinion of such attorney or agent necessary or expedient for the
            purpose of, or in connection with, the acceptance of the Exchange
            Offer, and to vest in BHFC or its nominees such Outstanding Notes;
            and

      (8)   it is acquiring the Registered Notes in its ordinary course of
            business and has no arrangement or understanding with any person to
            participate in the distribution of the Registered Securities to be
            received in the Exchange Offer;

      (9)   if it is a broker-dealer holding Outstanding Notes acquired for its
            own account as a result of market-making or other trading
            activities, it will deliver a prospectus meeting the requirements of
            the Securities Act of 1933 in connection with any resale of the
            Registered Notes received pursuant to the Exchange Offer (provided,
            that, by so agreeing and by delivering a prospectus, any such
            broker-dealer will not be deemed to admit that it is an
            "underwriter" within the meaning of the Securities Act of 1933); and

      (10)  the terms and conditions shall be deemed to be incorporated in, and
            form a part of, this Letter of Transmittal, and the terms and
            conditions shall be read and construed accordingly.

     BHFC hereby informs any holder of Outstanding Notes using the Exchange
Offer to participate in a distribution of the Registered Notes to be acquired in
the Exchange Offer that any such holder (1) can not rely on the position of the
SEC's staff enunciated in Exxon Capital Holdings Corporation (pub. avail. May
13, 1988) or similar letters and

                                       6
<PAGE>

(2) must comply with the registration and prospectus delivery requirements of
the Securities Act in connection with a secondary resale transaction of the
Exchange Notes.

     The representations and warranties and agreements of a holder tendering
Outstanding Notes shall be deemed to be repeated and reconfirmed on and as of
the Expiration Date and the Settlement Date. For purposes of this Letter of
Transmittal, the "BENEFICIAL OWNER" of any Outstanding Notes shall mean any
holder that exercises sole investment discretion with respect to such
Outstanding Notes.

     The undersigned understands that tenders may not be withdrawn at any time
after the Expiration Date except as set forth in the Prospectus, unless the
Exchange Offer is extended with changes to the terms and conditions that are, in
the reasonable judgement of BHFC, materially adverse to the undersigned, in
which case tenders may be withdrawn under the conditions described in the
extension.

     If the Exchange Offer is amended in a manner determined by BHFC to be
materially adverse to tendering holders, BHFC will extend the Exchange Offer for
a period of two to ten business days, depending on the significance of the
amendment and the manner of disclosure to such holders, if the Exchange Offer
would otherwise have expired during such two- to ten-business day period. Any
change in the consideration offered to holders of Outstanding Notes in the
Exchange Offer shall be paid to all holders of Outstanding Notes whose
securities have previously been tendered and not withdrawn pursuant to the
Exchange Offer.

     If the "Special Return Instructions" box (found above) is completed, please
credit the indicated DTC account for any book-entry transfers of Outstanding
Notes not accepted for exchange.

     The undersigned recognizes that BHFC has no obligation under the "Special
Return Instructions" provision of this Letter of Transmittal to effect the
transfer of any Outstanding Notes from the holder(s) of such Outstanding Notes
if BHFC does not accept for exchange any of the principal amount of the
Outstanding Notes tendered pursuant to this Letter of Transmittal.

                                       7
<PAGE>

                                    SIGN HERE

     By completing, executing and delivering this Letter of Transmittal, the
undersigned hereby tenders to BHFC the principal amount of the Outstanding Notes
listed in the table set forth above labeled "Description of Outstanding Notes
Tendered."

_________________________________________________________     __________________
Signature of Registered Holder(s) or Authorized Signatory            Date
             (see guarantee requirement below)

_________________________________________________________     __________________
Signature of Registered Holder(s) or Authorized Signatory            Date
             (see guarantee requirement below)

_________________________________________________________     __________________
Signature of Registered Holder(s) or Authorized Signatory            Date
             (see guarantee requirement below)

Area Code and Telephone Number:_________________________________________________

     If a holder of Outstanding Notes is tendering any Outstanding Notes, this
Letter of Transmittal must be signed by the Registered Holder(s) exactly as the
name(s) appear(s) on a securities position listing of DTC or by any person(s)
authorized to become the Registered Holder(s) by endorsements and documents
transmitted herewith. If the signature is by a trustee, executor, administrator,
guardian, attorney-in-fact, officer or other person, acting in a fiduciary or
representative capacity, please set forth at the line entitled "Capacity (full
title)" and submit evidence satisfactory to the Exchange Agent and BHFC of such
person's authority to so act. See Instruction 4.

Name(s):________________________________________________________________________

________________________________________________________________________________
                             (Please Type or Print)

Capacity (full title):__________________________________________________________

Address:________________________________________________________________________
                              (Including Zip Code)

                          MEDALLION SIGNATURE GUARANTEE
                       (If required -- See Instruction 4)

Signature(s) Guaranteed by
an Eligible Institution:________________________________________________________
                                    (Authorized Signature)

________________________________________________________________________________
                                    (Title)

________________________________________________________________________________
                                 (Name of Firm)

________________________________________________________________________________
                                   (Address)

Dated:_____________________, 200[_]

                                       8
<PAGE>

                   INSTRUCTIONS FORMING PART OF THE TERMS AND
                        CONDITIONS OF THE EXCHANGE OFFER

      1.    DELIVERY OF LETTER OF TRANSMITTAL. This Letter of Transmittal is to
be completed by tendering holders of Outstanding Notes if tender of such
Outstanding Notes is to be made by book-entry transfer to the Exchange Agent's
account at DTC and instructions are not being transmitted through ATOP. HOLDERS
WHO TENDER THEIR OUTSTANDING NOTES THROUGH DTC'S ATOP PROCEDURES SHALL BE BOUND
BY, BUT NEED NOT COMPLETE, THIS LETTER OF TRANSMITTAL; THUS, A LETTER OF
TRANSMITTAL NEED NOT ACCOMPANY TENDERS EFFECTED THROUGH ATOP.

     A confirmation of a book-entry transfer into the Exchange Agent's account
at DTC of all Outstanding Notes delivered electronically, as well as a properly
completed and duly executed Letter of Transmittal (or a manually signed
facsimile thereof) or properly transmitted agent's message, and any other
documents required by this Letter of Transmittal, must be received by the
Exchange Agent at its address set forth herein on or prior to the Expiration
Date.

     Any financial institution that is a participant in DTC may electronically
transmit its acceptance of the Exchange Offer by causing DTC to transfer
Outstanding Notes to the Exchange Agent in accordance with DTC's ATOP procedures
for such transfer on or prior to the Expiration Date. The Exchange Agent will
make available its general participant account at DTC for the Outstanding Notes
for purposes of the Exchange Offer.

     DELIVERY OF A LETTER OF TRANSMITTAL TO DTC WILL NOT CONSTITUTE VALID
DELIVERY TO THE EXCHANGE AGENT. No Letter of Transmittal should be sent to BHFC
or DTC.

     The method of delivery of this Letter of Transmittal and all other required
documents, including delivery through DTC and any acceptance or agent's message
delivered through ATOP, is at the option and risk of the tendering holder. If
delivery is by mail, registered mail, with return receipt requested and properly
insured, is recommended. Instead of delivery by mail, it is recommended that the
holder use an overnight or hand-delivery service. In all cases, sufficient time
should be allowed to ensure timely delivery.

     Neither BHFC nor the Exchange Agent is under any obligation to notify any
tendering holder of Outstanding Notes of BHFC's acceptance of tendered
Outstanding Notes prior to the Expiration Date.

      2.    DELIVERY OF THE REGISTERED NOTES. Registered Notes to be issued
according to the terms of the Exchange Offer, if consummated, will be delivered
in book-entry form to holders of Outstanding Notes tendered in the Exchange
Offer. In order to permit such delivery, the appropriate DTC participant name
and number (along with any other required account information) must be provided
in the table entitled "Description of the Outstanding Notes." Failure to do so
will render a tender of the Outstanding Notes defective, and BHFC will have the
right, which it may waive, to reject such delivery. Holders that anticipate
participating in the Exchange Offer other than through DTC are urged to promptly
contact a bank, broker or other intermediary (that has the capability to hold
securities custodially through DTC) to arrange for receipt of any Registered
Notes delivered pursuant to the Exchange Offer and to obtain the information
necessary to complete the table.

      3.    AMOUNT OF TENDERS. Tenders of Outstanding Notes will be accepted in
denominations of U.S. $1,000 and integral multiples of U.S.$1,000 in excess
thereof with a minimum tender requirement of $2,000. Book-entry transfers to the
Exchange Agent should be made in the exact principal amount of Outstanding Notes
tendered.

      4.    SIGNATURES ON LETTER OF TRANSMITTAL; INSTRUMENTS OF TRANSFER;
GUARANTEE OF SIGNATURES. For purposes of this Letter of Transmittal, the term
"REGISTERED HOLDER" means an owner of record as well as any DTC participant that
has Outstanding Notes credited to its DTC account. Except as otherwise provided
below, all signatures on this Letter of Transmittal must be guaranteed by a
recognized participant in the Securities Transfer Agents Medallion Program, the
NYSE Medallion Signature Program or the Stock Exchange Medallion Program (each,
a "MEDALLION SIGNATURE CO-OBLIGOR"). Signatures on the Letter of Transmittal
need not be guaranteed if:

                                       9
<PAGE>

      -     the Letter of Transmittal is signed by a participant in DTC whose
            name appears on a security position listing as the owner of the
            Outstanding Notes and the holder(s) has not completed the box
            entitled "Special Return Instructions" on the Letter of Transmittal;
            or

      -     the Outstanding Notes are tendered for the account of an "eligible
            institution."

     An "eligible institution" is one of the following firms or other entities
identified in Rule l7Ad-15 under the Securities Exchange Act of 1934 (as the
terms are used in Rule 17Ad-15):

            (a)   a bank;

            (b)   a broker, dealer, municipal securities dealer, municipal
     securities broker, government securities dealer or government securities
     broker;

            (c)   a credit union;

            (d)   a national securities exchange, registered securities
     association or clearing agency; or

            (e)   a savings institution that is a participant in a Securities
     Transfer Association recognized program.

     If any of the Outstanding Notes tendered are held by two or more Registered
Holders, all of the Registered Holders must sign the Letter of Transmittal.

     BHFC will not accept any alternative, conditional, irregular or contingent
tenders. By executing the Letter of Transmittal (or facsimile thereof) or
directing DTC to transmit an agent's message, you waive any right to receive any
notice of the acceptance of your Outstanding Notes for exchange.

     If this Letter of Transmittal or instruments of transfer are signed by
trustees, executors, administrators, guardians or attorneys-in-fact, officers of
corporations or others acting in a fiduciary or representative capacity, such
persons should so indicate when signing and, unless waived by BHFC, evidence
satisfactory to BHFC of their authority to so act must be submitted with this
Letter of Transmittal.

     Beneficial owners whose tendered Outstanding Notes are registered in the
name of a broker, dealer, commercial bank, trust company or other nominee must
contact such broker, dealer, commercial bank, trust company or other nominee if
they desire to tender such Outstanding Notes.

      5.    SPECIAL RETURN INSTRUCTIONS. All Outstanding Notes tendered hereby
and not accepted for exchange will be returned to the undersigned according to
the information provided in the table entitled "Description of the Outstanding
Notes Tendered" or, if completed, according to the "Special Return Instructions"
box in this Letter of Transmittal.

      6.    TRANSFER TAXES. Except as set forth in this Instruction 6, BHFC will
pay or cause to be paid any transfer taxes with respect to the transfer and sale
of Outstanding Notes to it, or to its order, pursuant to the Exchange Offer. If
payment is to be made to, or if Outstanding Notes not tendered or purchased are
to be registered in the name of any persons other than the Registered Holder, or
if tendered Outstanding Notes are registered in the name of any persons other
than the persons signing this Letter of Transmittal, the amount of any transfer
taxes (whether imposed on the Registered Holder or such other person) payable on
account of the transfer to such other person will be deducted from the payment
unless satisfactory evidence of the payment of such taxes or exemption therefrom
is submitted.

      7.    VALIDITY OF TENDERS. All questions concerning the validity, form,
eligibility (including time of receipt), acceptance and withdrawal of tendered
Outstanding Notes will be determined by BHFC in its sole discretion, which
determination will be final and binding. BHFC reserves the absolute right to
reject any and all tenders of Outstanding Notes not in proper form or any
Outstanding Notes the acceptance for exchange of which may, in the opinion of
its counsel, be unlawful. BHFC also reserves the absolute right to waive any
defect or irregularity in

                                       10
<PAGE>

tenders of Outstanding Notes, whether or not similar defects or irregularities
are waived in the case of other tendered securities. The interpretation of the
terms and conditions by BHFC shall be final and binding on all parties. Unless
waived, any defects or irregularities in connection with tenders of Outstanding
Notes must be cured within such time as BHFC shall determine. None of BHFC, the
Exchange Agent or any other person will be under any duty to give notification
of defects or irregularities with respect to tenders of Outstanding Notes, nor
shall any of them incur any liability for failure to give such notification.

     Tenders of Outstanding Notes will not be deemed to have been made until
such defects or irregularities have been cured or waived. Any Outstanding Notes
received by the Exchange Agent that are not validly tendered and as to which the
defects or irregularities have not been cured or waived will be returned by the
Exchange Agent to the holders of Outstanding Notes, unless otherwise provided in
this Letter of Transmittal, as soon as practicable following the Expiration Date
or the withdrawal or termination of the Exchange Offer.

      8.    WAIVER OF CONDITIONS. BHFC reserves the absolute right to amend or
waive any of the conditions in the Exchange Offer concerning any Outstanding
Notes at any time.

      9.    WITHDRAWAL. Tenders may be withdrawn only pursuant to the procedures
and subject to the terms set forth in the Prospectus under the caption "The
Exchange Offer -- Withdrawal of Tenders."

      10.   REQUESTS FOR ASSISTANCE OR ADDITIONAL COPIES. Questions and requests
for assistance and requests for additional copies of the Prospectus and this
Letter of Transmittal may be directed to the Exchange Agent at the address and
telephone number indicated herein.

      11.   TAX IDENTIFICATION NUMBER. Federal income tax law requires that a
U.S. Holder (defined below) whose Outstanding Notes are accepted for exchange
must provide the Exchange Agent with his, her or its correct Taxpayer
Identification Number ("TIN"), which, in the case of an exchanging U.S. Holder
who is an individual, is his or her social security number. If the Exchange
Agent is not provided with the correct TIN or an adequate basis for exemption,
such holder may be subject to a $50 penalty imposed by the Internal Revenue
Service (the "IRS"), and payments made with respect to the Registered Notes or
the Exchange Offer may be subject to backup withholding at a rate of 30%
(subject to periodic reductions through 2010, at which time the rate is
currently scheduled to be increased to 31%). If withholding results in an
overpayment of taxes, a refund may be obtained.

     To prevent backup withholding, each exchanging U.S. Holder must provide
his, her or its correct TIN by completing the copy of the IRS Form W-9 attached
to this Letter of Transmittal, certifying that the TIN provided is correct (or
that such U.S. Holder is awaiting a TIN) and that the U.S. Holder is exempt from
backup withholding because (i) the holder has been notified by the IRS that he,
she or it is subject to backup withholding as a result of a failure to report
all interests or dividends, or (ii) the IRS has notified the U.S. Holder that
he, she or it is no longer subject to backup withholding. If the Outstanding
Notes are in more than one name or are not in the name of the actual owner,
consult the Form W-9 Instructions for information on which TIN to report. If you
do not provide your TIN to the Exchange Agent within 60 days, backup withholding
may begin and continue until you furnish your TIN.

     Exempt holders (including, among others, all corporations and certain
foreign individuals) are not subject to these withholding and reporting
requirements. See the enclosed copy of the IRS Form W-9. In order to satisfy
BHFC that a foreign individual qualifies as an exempt recipient, such holder
must submit a properly completed IRS Form W-8BEN (or other applicable form)
certifying, under penalty of perjury, to such holder's foreign status in order
establish an exemption from backup withholding. A copy of the Form W-8BEN is
attached to this Letter of Transmittal. Other applicable forms may be obtained
from the Exchange Agent.

     For the purposes of these instructions, a "U.S. HOLDER" is (i) a citizen or
resident of the United States, (ii) a corporation, or other entity taxable as a
corporation for U.S. federal income tax purposes, created or organized in or
under the laws of the United States or of any political subdivision thereof, or
(iii) an estate or trust the income of which is subject to United States federal
income taxation regardless of its source.

                                       11
<PAGE>

      12.   The exchange of Outstanding Notes for Registered Notes will not be a
taxable event for U.S. federal income tax purposes. See "Material United States
Federal Income Tax Consequences" in the Prospectus.

                                       12
<PAGE>

   In order to tender, a holder of Outstanding Notes should send or deliver a
   properly completed and signed Letter of Transmittal and any other required
    documents to the Exchange Agent at its address set forth below or tender
               pursuant to DTC's Automated Tender Offer Program.

                  The Exchange Agent for the Exchange Offer is:

                 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
                          Institutional Trust Services
                                Attn: Frank Ivins
                                2001 Bryan Street
                                   9th Floor
                                Dallas, TX 75201

     Any questions or requests for assistance or for additional copies of the
Prospectus, this Letter of Transmittal, or related documents may be directed to
the Exchange Agent at 1-800-275-2048. A holder of Outstanding Notes may also
contact such holder's custodian bank, depositary, broker, trust company or other
nominee for assistance concerning the Exchange Offer.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00072-of-00352.parquet"}]]