BRL Blackthorn

RNS No 2141n
BRIERLEY INVESTMENTS LIMITED
11th May 1998


SEVERANCE ARRANGEMENTS WITH RH MATTHEW AND PD COLLINS

The  Chairman of Brierley Investments Limited (BIL), Sir Roger
Douglas,  today  released  details of  severance  arrangements
agreed with Mr Bob Matthew, on his retirement as Chairman  and
a  Director  of the Company, and with Mr Paul Collins  on  his
retirement  as  Director and Chief Executive  Officer  of  the
Company.

The  Board unanimously agreed to the payment to Mr Matthew  of
$750,000.  The Board also unanimously agreed to the payment to
Mr  Collins of $4 million on the severance of his position  as
Chief  Executive Officer of the Company.  The Board agreed  to
the  payment to Mr Collins after receiving independent  advice
from  two  sources on the amount it might be required  to  pay
under  New  Zealand employment law.  The Board concluded  that
the  agreed payment to Mr Collins is in the best interests  of
the  Company,  recognising his length of service and  position
within the Company and ensured the retention of Mr Collins  as
a  transitional  consultant to the Company on the  operational
aspects of the business.

For further information:

Tom Moriarty
Tavistock Communications
0171 600 2288

END

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