OTHER NEWS - April 14, 1993

Buffett May Be Buying Tobacco: Investor Warren Buffett, who has said he likes the cigarette business, may be buying tobacco stocks through Berkshire Hathaway Inc. after their recent decline. Philip Morris Cos. told some analysts that Buffett has bought its shares within the last two weeks, said two analysts who spoke with company officials. Separately, USA Today reported that the billionaire investor has purchased almost 5% of the common stock of UST Inc., a producer of smokeless tobacco. Buffett told the Economist magazine last year that he is attracted to the cigarette business because the product “costs a penny to make, (you) sell it for a dollar, it’s addictive, and there’s fantastic brand loyalty.”