BRL Blackthorn

RNS No 6261u
BRIERLEY INVESTMENTS LIMITED
6 October 1999

                  DETAILS OF ACQUISITION OF SHARES UNDER CASH BUYBACK

Brierley Investments Limited (BIL) gives notice that on 6 October 1999 it
acquired 2,268,608 (0.07%) of its ordinary shares under its cash buyback offer
(announced on 7 September 1999) through the order matching market of the New
Zealand Stock Exchange.  

The prices at which the shares were acquired are as follows:

          Number of Shares              Price per Share
                                              $
          1,520,000                          .44
            748,608                          .43

The Board authorised the cash buyback on 6 September 1999.

The number of fully paid ordinary shares in BIL on issue after the acquisition
is 2,937,611,465.

The shares acquired are not being held as treasury stock.

END

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