FOR IMMEDIATE RELEASE

NAIC EXPEDITES NATIONWIDE LICENSING
OF NEW BOND INSURER
45 States Review, Approve Company's License in Six Weeks

ORLANDO, Fla. (March 31, 2008) - The National Association of Insurance Commissioners (NAIC) today announced that 45 jurisdictions have licensed new bond insurer Berkshire Hathaway Assurance Corp. (BHAC). The company's licensure was coordinated via an NAIC application that expedites the approval process.

BHAC's expedited licensure is part of a three-pronged regulatory response to concerns about the bond insurance market that (1) addresses the continued availability of AAA-rated bond insurance for municipalities; (2) deals with distressed companies by working to bolster contingency reserves; and (3) considers new and/or revised rules and regulations.

"It is a remarkable success story that state insurance regulators, by working together, licensed a new financial guaranty insurer in nearly every state - not within months, but within weeks," said NAIC President and Kansas Insurance Commissioner Sandy Praeger. "By providing a streamlined, uniform application process, we were able to facilitate the speedy entrance of a well-capitalized company into the bond insurance marketplace."

First licensed by the New York State Insurance Department, BHAC submitted an expansion application in February 2008 via the NAIC's Uniform Certificate of Authority Application (UCAA).

To date, BHAC has been licensed in the following jurisdictions: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

For more information about UCAA, visit www.naic.org/industry_ucaa.htm.

About the NAIC

Formed in 1871, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and five U.S. territories. The NAIC has three offices: Executive Office, Washington, D.C.; Central Office, Kansas City, Mo.; and Securities Valuation Office, New York City.

The NAIC serves the needs of consumers and the industry, with an overriding objective of supporting state insurance regulators as they protect consumers and maintain the financial stability of the insurance marketplace. For more information, visit www.naic.org.

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