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Note: The following table appears in the printed …

2 Note: The following table appears in the printed Annual Report on the facing page of theChairman's letter and is referred to in that s Corporate Performance vs. the S&P 500 Annual Percentage Change in Per-Sharein S&P 500 Book Value ofwith DividendsRelativeBerkshireIncludedResult sYear (1) (2) (1)-(2) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Annual Gain Gain 1964-2000207,821%5,383%202,438%Notes:Dat a are for calendar years with these exceptions: 1965 and 1966, year ended 9/30; 1967, 15 months ended 12 in 1979, accounting rules required insurance companies to value the equity securities they hold at marketrather than at the lower of cost or market, which was previously the requirement.

2 Note: The following table appears in the printed Annual Report on the facing page of the Chairman's Letter and is referred to in that letter. Berkshire’s Corporate Performance vs. …

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