BRL Blackthorn

RNS No 3221q
BRIERLEY INVESTMENTS LIMITED
20 October 1999


DETAILS OF ACQUISITION OF SHARES UNDER CASH BUYBACK

Brierley Investments Limited (BIL) gives notice that on 20 October 1999 it
acquired 1,320,905 (0.04%) 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 $

   1,020,000               .45
     300,905               .44

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 2,915,738,695.

The shares acquired are not being held as treasury stock.


END

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