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Goldman Sachs Amends Terms of Warrants Held by Berkshire Hathaway



  Goldman Sachs Amends Terms of Warrants Held by Berkshire Hathaway

Business Wire

NEW YORK -- March 26, 2013

The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has amended
its warrant agreement with Berkshire Hathaway Inc., and certain of its
subsidiaries (collectively, Berkshire Hathaway) from cash settlement to net
share settlement.

"We intend to hold a significant investment in Goldman Sachs, a firm that I
did my first transaction with more than 50 years ago," said Warren Buffett,
Chairman and Chief Executive Officer of Berkshire Hathaway. "I have been
privileged to have known and admired Goldman's executive leadership team since
my first meeting with Sidney Weinberg in 1940."

"We are pleased that Berkshire Hathaway intends to remain a long-term investor
in Goldman Sachs," said Lloyd C. Blankfein, Chairman and Chief Executive
Officer of Goldman Sachs.

The warrant had provided Berkshire Hathaway the right to purchase 43,478,260
shares of Goldman Sachs' common stock, par value $0.01 per share, at an
exercise price of $115 at any time until October 1, 2013. Under the amended
agreement, Goldman Sachs will deliver to Berkshire Hathaway the number of
shares of common stock equal in value to the difference between the average
closing price over the 10 trading days preceding October 1, 2013 and the
exercise price of $115 multiplied by the number of shares of common stock
covered by the warrant (43,478,260).

The Goldman Sachs Group, Inc. is a leading global investment banking,
securities and investment management firm that provides a wide range of
financial services to a substantial and diversified client base that includes
corporations, financial institutions, governments and high-net-worth
individuals. Founded in 1869, the firm is headquartered in New York and
maintains offices in all major financial centers around the world.

Contact:

The Goldman Sachs Group, Inc.
Media:
Jake Siewert, 212-902-5400
or
Investor:
Dane Holmes, 212-902-0300
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