RNS Number:1721E
Brierley Investments Limited
21 January 2000


DIVIDEND EXCHANGE RATES

The exchange rates to be applied to the dividend of three cents (New Zealand)
per share payable wholly in cash on 31 January 2000, will be as follows:


NZ$1.00 = A$0.7749

NZ$1.00 = STG0.3119


END

MSCSEMSAFSSSEDF
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