BRL Blackthorn

RNS No 3837R
BRIERLEY INVESTMENTS LIMITED
1 October 1999


           DETAILS OF ACQUISITION OF SHARES UNDER CASH BUYBACK
          
Brierley Investments Limited (BIL) gives notice that on 1 October 1999 it
acquired 190,000 (0.01%) 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 $0.46 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 2,948,180,073.

The shares acquired are not being held as treasury stock.


END

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