BRL Blackthorn

RNS No 7880j
BRIERLEY INVESTMENTS LIMITED
21 September 1999


DETAILS OF ACQUISITIONS OF SHARES UNDER CASH BUYBACK

Brierley Investments Limited (BIL) gives notice that on 21 September 1999 it
acquired 1,740,738 (0.05%) 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 price at which the shares were acquired is as follows:

Number              Price per Share
of Shares                  $

1,740,738                 0.46

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 2,975,125,169.

The shares acquired are not being held as treasury stock.

END

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