BRL Blackthorn

RNS No 8288u
BRIERLEY INVESTMENTS LIMITED
29 October 1999

          DETAILS OF ACQUISITION OF SHARES UNDER CASH BUYBACK

Brierley Investments Limited (BIL) gives notice that on 29 October 1999 it
acquired 680,000 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 shares were acquired at $0.45 per share.

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 2,909,643,956.

The shares acquired are not being held as treasury stock.

END

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