BRL Blackthorn

RNS No 6069j
BRIERLEY INVESTMENTS LIMITED
16 July 1999


PROPOSED ISSUE OF OPTIONS 

At the 1999 annual meeting, shareholders will be requested to approve the issue
to Sir Selwyn Cushing, the Chairman and current Chief Executive Officer of the
Company, of 15 million options over ordinary shares.

The proposed issue was agreed with Sir Selwyn in late 1998 when his appointment
to the Board and Chairmanship were under discussion.

The proposed exercise price is $0.45 cents, which is in the range of the BIL
share price at that time.

The options will be divided into two equal tranches. The first tranche will not
be exercisable prior to July 2000, and the second prior to July 2001.

Unexercised options will lapse on the holder ceasing to be a director and in any
event on 1 November 2004.

M B Horton
Company Secretary


END

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