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EXHIBIT 99.5
BERKSHIRE HATHAWAY INC.
NEWS RELEASE
FOR IMMEDIATE RELEASE
October 20, 2000
Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) today announced that it
has formally entered into a merger agreement whereby it will acquire
approximately 87.3% of Shaw Industries, Inc. (NYSE: SHX) common shares for $19
per share (approximately $2 billion in the aggregate). The closing of the
transaction is subject to approval by the shareholders of Shaw Industries and
satisfaction of certain regulatory conditions. An investment group consisting,
among others, of Robert E. Shaw, Chairman and CEO of Shaw Industries, Julian D.
Saul, President of Shaw Industries, members of Mr. Shaw's and Mr. Saul's
immediate families, and certain other members of management will acquire the
remaining 12.7% of Shaw Industries by contributing common shares of Shaw
Industries representing approximately 12.7% of Shaw's current outstanding common
stock.
Shaw Industries, Inc. is the world's largest manufacturer of tufted
broadloom carpet. Headquartered in Dalton, Georgia, Shaw sells carpeting and
rugs for residential and commercial applications throughout the United States
and exports to most markets worldwide. Shaw markets its residential products
under such brand names and trademarks as Cabin Crafts, Couture by Sutton,
Cumberland, Expressive Designs, Home Foundations, Philadelphia, Queen, ShawMark,
Sutton, TrustMark, Evans & Black, Salem, Tuftex, and Shaw Rugs. Shaw markets its
commercial products under the names Shaw Contract, Designweave, Patcraft, and
Queen Commercial. Through its network of commercial dealers known as Shaw
Contract Flooring Services, Shaw also sells commercial flooring products
directly and provides installation and project management services. Shaw also
offers laminate flooring through the Decades brand and ceramic tile through Shaw
Ceramics, and hardwood flooring through Shaw Hardwoods.
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.
