BRL Blackthorn

RNS Number:4253A
Brierley Investments Limited
8 November 1999

Details of Acquisition of Shares under Cash Buyback

Brierley Investments Limited (BIL) gives notice that on 8 November 1999 it
acquired 1,593,539 (0.05%) 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
                                    $
1,423,539                         0.43
170,000                           0.44

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 2,746,358,655.

The shares acquired are not being held as treasury stock.

END

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