RNS Number:2992B
Brierley Investments Limited
23 November 1999

Details of Acquisition of Shares under Cash Buyback

Brierly Investments Limited (BIL) gives notice that on 23 November 1999 it
acquired 390,000 (0.014%) 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 buy back on 6 September 1999.

The number of fully paid ordinary shares in BIL on issue after the acquisition
is 2,741,568,261.

The shares acquired are not being held as treasury stock.

END

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