Exhibit 99.1

               Berkshire Hathaway to Acquire Burlington Industries

GREENSBORO, N.C. and OMAHA, Neb., Feb. 11 /PRNewswire-FirstCall/ -- Burlington
Industries, Inc. (OTC Bulletin Board: BRLG - News) and Berkshire Hathaway, Inc.
(NYSE: BRK.A BRK.B) announced today that they have executed a definitive
agreement for Berkshire Hathaway to acquire Burlington Industries. The amount
payable in the transaction to creditors of Burlington, which began Chapter 11
reorganization proceedings in 2001, is estimated to be $579 million, subject to
adjustments. Following emergence from Chapter 11, Burlington would operate as a
wholly owned subsidiary of Berkshire Hathaway.

The details of the transaction are set forth in papers being filed with the
Court and with the Securities and Exchange Commission. Under the proposed plan,
Burlington's secured creditors would be paid in full and its pre- petition
unsecured creditors would receive cash and certain other assets estimated to be
34-35% of their claims. All shares of Burlington's Common Stock would be
canceled with no payment. Burlington would emerge with no debt, other than
ordinary course liabilities and certain pre-petition obligations, having repaid
the majority of the $1.1 billion of liabilities it had prior to its bankruptcy
filing, and eliminating the balance through the bankruptcy process.

"This is a very positive outcome for the company, our employees and our
creditors," said George W. Henderson, III, Chairman and CEO of Burlington. "Over
the last year our efforts have increased the value of our company and allowed us
to achieve a significant level of return for our creditors despite
extraordinarily challenging conditions in our industry and the capital markets."

"In several recent cases, other companies have emerged from bankruptcy with
excessive debt only to be faced with renewed problems. The opportunity to be
totally debt free and having made considerable progress in our globalization
efforts puts us in a unique position to take full advantage of our capabilities
and compete successfully in a rapidly changing textile business."

Warren E. Buffett, Chairman of Berkshire Hathaway commented further, "Only the
very strong will survive in the textile industry -- strong in management, strong
in worker skills and strong in financial strength. Burlington brings the first
two resources to a successful reorganization; Berkshire brings the latter.
Burlington will go forth as a company with no debt, talented and dedicated
management, and a workforce second to none. It will be a company designed for
success."

Henderson continued, "We are excited to become a part of the Berkshire Hathaway
family of companies. Berkshire is a company of great integrity and long-term
focus, and we believe its solid foundation provides us the right environment in
which to operate and grow as we implement a new and challenging business model."

Burlington will seek Court approval of procedures whereby higher and better
offers to purchase Burlington may be considered and authorizing the payment to
Berkshire of a termination fee in



certain circumstances. Burlington pointed out that the Berkshire offer is for
cash and is not dependent on obtaining outside financing. The closing of the
transaction is subject to various conditions, including the completion of the
alternative offer process and pre-merger notification requirements of U.S. law.

In reaching its decision to enter into the Berkshire Agreement, Burlington's
Board considered a number of alternatives, including a proposal from WL Ross &
Co, LLC for a stand alone reorganization. This proposal was contingent upon
obtaining new debt, and would pay only secured claims in cash and then offer the
unsecured creditors new common stock. Such proposal may be considered again by
the Company in connection with its ultimate determination of the best and
highest offer for the Company under the bidding procedures to be established by
the Bankruptcy Court.

Burlington and Berkshire currently expect the closing to occur toward the end of
the June quarter of FY 2003.

With operations in the United States, Mexico and India and a global
manufacturing and product development network based in Hong Kong, Burlington
Industries is one of the world's most diversified marketers and manufacturers of
softgoods for apparel and interior furnishings.

Berkshire Hathaway is a holding company owning subsidiaries engaged in a number
of diverse business activities. The most important of these is the property and
casualty insurance business conducted on both a direct and reinsurance basis
through a number of subsidiaries.

This press release contains statements that are forward-looking statements
within the meaning of applicable federal securities laws and are based upon
Burlington's current expectations and assumptions, which are subject to a number
of risks and uncertainties that could cause actual results to differ materially
from those anticipated. Such risks and uncertainties include, among other
things, global economic activity and the implications thereon of the attack on
September 11 and the U.S. government's response thereto and the possibility of
armed conflict with Iraq, the success of the Burlington's overall business
strategy including successful implementation of Burlington's restructuring plan
and Burlington's development of a global sourcing structure, the demand for
textile products, the cost and availability of raw materials and labor,
governmental legislation and regulatory changes, and the long-term implications
of regional trade blocs and the effect of quota phase- out and lowering of
tariffs under the WTO trade regime, the impact that Burlington's Chapter 11
proceeding has had or may have on its relationships with its principal customers
and suppliers, the nature of the capital structure which is approved in its plan
of reorganization and its ongoing ability to finance its operations and
restructuring activities, the cost of future capital sources, and the exposure
to interest rate and currency fluctuations, its ability to utilize tax loss
carryforwards and retain tax refunds received or to be received, and other
factors identified in Burlington's filings with the Securities and Exchange
Commission.