Goldman Sachs Prices $5 Billion Public Offering of Common Equity

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"Goldman Sachs Prices $5 Billion Public Offering of Common Equity"

"Berkshire Hathaway Invests $5 Billion, Receives Warrants for Further $5 Billion\r\nNew York, September 24, 2008 -- The Goldman Sachs Group, Inc. (NYSE: GS) announced today that it has priced a public offering of 40.65 million common shares at $123 per share for total gross proceeds of approximately $5 billion. In addition, Goldman, Sachs &amp; Co. has an over-allotment option of 6.10 million common shares. \r\n \r\nThis offering, combined with the recently announced $5 billion strategic investment by Berkshire Hathaway Inc. in the form of perpetual preferred stock, brings total capital raised to $10 billion. In addition, Berkshire Hathaway Inc. will receive warrants to purchase $5 billion of common stock with a strike price of $115 per share, which are exercisable at any time for a five year term. \r\n \r\nThe Goldman Sachs Group, Inc. is a bank holding company and a leading global investment banking, securities and investment management firm. Goldman Sachs provides a wide range of services worldwide 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 London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. \r\n\r\nMedia Contact: Lucas van Praag \r\nTel: 212-902-5400 \r\n \r\nInvestor Contact: Dane Holmes \r\nTel: 212-902-0300\r\n"

Berkshire Hathaway Invests $5 Billion, Receives Warrants for Further $5 Billion
New York, September 24, 2008 -- The Goldman Sachs Group, Inc. (NYSE: GS) announced today that it has priced a public offering of 40.65 million common shares at $123 per share for total gross proceeds of approximately $5 billion. In addition, Goldman, Sachs &amp; Co. has an over-allotment option of 6.10 million common shares. 
 
This offering, combined with the recently announced $5 billion strategic investment by Berkshire Hathaway Inc. in the form of perpetual preferred stock, brings total capital raised to $10 billion. In addition, Berkshire Hathaway Inc. will receive warrants to purchase $5 billion of common stock with a strike price of $115 per share, which are exercisable at any time for a five year term. 
 
The Goldman Sachs Group, Inc. is a bank holding company and a leading global investment banking, securities and investment management firm. Goldman Sachs provides a wide range of services worldwide 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 London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. 

Media Contact: Lucas van Praag 
Tel: 212-902-5400 
 
Investor Contact: Dane Holmes 
Tel: 212-902-0300

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