Document:

<PAGE>

                                                                     EXHIBIT 4.4

                          4.625% Senior Notes due 2013
                          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

                          4.625% SENIOR NOTES DUE 2013

                                                              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 October 15, 2013, and to
     pay interest thereon from and including October 6, 2003 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 April 15 and
     October 15 in each year, commencing April 15, 2004 (each an "Interest
     Payment Date"), at the rate of 4.625% 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, April 1 or October 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 October 6, 2003
     (herein called the "Base Indenture", and as supplemented by the (i)
     Officers' Certificate, dated as of October 6, 2003, (ii) Officers'
     Certificate, dated as of March 16, 2004, (iii) Officers' Certificate, dated
     as of May 5, 2004, and (iv) Officers' Certificate, dated as of _________,
     2004, herein, 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 Bank One Trust Company, N.A., 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 3.375% Senior Notes due 2008
     and 4.625% Senior Notes due 2013.

              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 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
<PAGE>

     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 denominations of $1,000 and any integral multiple
     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 Bank One Trust Company, N.A., as trustee
     (the "Trustee") under that certain Indenture, dated as of October 6, 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 in    Amount of increase in      Principal amount of this     Signature of authorized
                     principal amount of    principal amount of this     Debt Security following     signatory of Trustee or
Date of exchange      this Debt Security         Debt Security          such 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 4.5

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 [_____], 2004 (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 3.375% SENIOR NOTES DUE 2008,
             UNCONDITIONALLY GUARANTEED BY BERKSHIRE HATHAWAY INC.

                              ("REGISTERED NOTES")

                                       FOR

                          3.375% SENIOR NOTES DUE 2008,
UNCONDITIONALLY GUARANTEED BY BERKSHIRE HATHAWAY INC., ISSUED ON MARCH 16, 2004

                              ("OUTSTANDING NOTES")

         THE EXCHANGE OFFER FOR THE OUTSTANDING NOTES WILL EXPIRE AT 5:00 P.M.,
NEW YORK CITY TIME, ON [______], 2004, 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 (as
successor to Bank One Trust Company, N.A.) (the "EXCHANGE AGENT"), on or prior
to the Expiration Date.

                 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
                      Institutional Trust Services OH1-0184
                         1111 Polaris Parkway, Suite 1N
                               Columbus, OH 43240
                                 Attn: Exchanges

         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 : 1-800-346-5153.

         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 $1,000
and integral multiples of $1,000 in excess thereof. Registered Notes will be
issued in minimum denominations of $1,000 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>
 OUTSTANDING NOTES      NAME OF DTC PARTICIPANT AND PARTICIPANT'S      AGGREGATE PRINCIPAL
   BEING TENDERED       ACCOUNT NUMBER IN WHICH OUTSTANDING NOTES     AMOUNT OF OUTSTANDING
                       ARE HELD AND/OR THE CORRESPONDING REGISTERED          NOTES*
                                NOTES ARE TO BE DELIVERED.
--------------------   --------------------------------------------   ---------------------
<S>                    <C>                                            <C>
3.375% SENIOR NOTES
                       --------------------------------------------   ---------------------
DUE 2008
                       --------------------------------------------   ---------------------

(CUSIP:            )
(CUSIP:           )
</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.$1,000. 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   PRINCIPAL AMOUNT OF OUTSTANDING NOTES
            NUMBER
--------------------------------   -------------------------------------
<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 successor to Bank One Trust Company,
                  N.A.), 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

                                       5
<PAGE>

upon the heirs, executors, administrators, trustees in bankruptcy, personal and
legal representatives, successors and assigns of the undersigned.

         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)      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.

         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.

                                       6
<PAGE>

         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:__________________________, 2004

                                       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. 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 17Ad-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 OH1-0184
                         1111 Polaris Parkway, Suite 1N
                               Columbus, OH 43240
                                 Attn: Exchanges

         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 1-800-346-5153. 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.

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