EXHIBIT 99.1


                             BERKSHIRE HATHAWAY INC.
                                  NEWS RELEASE


                       FOR IMMEDIATE RELEASE JULY 15, 2003


Omaha, NE (BRK.A; BRK.B) -- Tomorrow, shareholders of Clayton Homes meet to
consider Berkshire Hathaway's offer to acquire their company. Clayton
shareholders should be aware of the following facts:

        (1)     Berkshire will not raise its price now or in the future.

        (2)     Berkshire will not become a lender to the mobile home industry
                except through Clayton. Berkshire made a bad investment several
                years ago in Oakwood Homes and learned the hard way of the
                dangers in mobile home finance. Indeed, these dangers have
                become manifest at Clayton, even though it is - in Berkshire's
                opinion - by far the best company in the mobile home industry.
                The 8-K Clayton recently filed indicates that both delinquencies
                and loss severity have increased substantially in the past year.
                In the first half of 2003, the average loss incurred in
                repossessions was 49.2% of the contract amount.

        (3)     This staggering loss experience is in stark contrast to the
                experience of lenders financing site-built homes. Simply put,
                the value of mobile homes has often plummeted after purchase,
                while traditional homes have appreciated. The industry's
                troubles have in large part occurred because of this difference
                in resale experience. The result: Sales of mobile homes have
                fallen dramatically and consistently during the past few years
                while sales of site-built homes have been strong. Industry
                observers have regularly predicted turnarounds in mobile home
                sales during these years. They have been wrong: Low interest
                rates have caused housing to thrive - but new mobile home sales
                continue to sink. Clayton is no exception.

        (4)     Berkshire believes the spread in financing costs between
                site-built homes and mobile homes will not narrow should
                interest rates rise. The spread results from the high losses
                that occur when the underlying asset depreciates in contrast to
                the general appreciation in site-built homes. In Berkshire's
                view, the industry-wide decline in mobile home sales during the
                past few years would have been even more severe had interest
                rates not fallen.

        (5)     Berkshire values the Clayton management - in our view the best
                in the business - but has no special deals with them, as some
                have insinuated. If the transaction is completed, their
                compensation with Berkshire will be similar to what they would
                have earned if independent.






        (6)     Clayton's financial needs are large and continuous. Indeed since
                the April 1 agreement, Berkshire has advanced - on a short-term
                basis - $360 million to Clayton. The mobile home industry is
                dependent on ready access to funds and this access has become
                progressively more questionable during the past few years.
                Clayton must have a dependable source of financing - under all
                circumstances - and Berkshire can provide it.

        (7)     Berkshire's firm offer to Clayton was made after only a one-day
                review of annual reports and SEC filings. There has been a
                deterioration in sales at Clayton since the agreement was
                executed more than three months ago. Nevertheless, Berkshire
                hopes that Clayton shareholders accept our offer. But it is not
                one that we will renew.

        Berkshire Hathaway Inc. and its subsidiaries engage in a number of
        diverse business activities among which the most important is the
        property and casualty insurance business conducted on both a direct and
        reinsurance basis.




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