BRL Blackthorn

RNS Number:9293D
Brierley Investments Limited
21 May 2001

The securities of Brierley Investments Limited (the "Company") will be
suspended from quotation immediately, at the request of the Company, pending
an announcement in relation to the pricing of the placement agreement with JB
Were Limited for the sale of the Company's stake in James Hardie Industries
Limited.



BRIERLEY INVESTMENTS LIMITED

REQUEST FOR SUSPENSION


    The Board of Directors of Brierley Investments Limited ("BIL") would like
    to request for suspension in the trading of BIL's shares on the Singapore
    Exchange Ltd with effect from 2.00 p.m. on Monday, 21 May 2001, pending
    release of a price-sensitive announcement.



Submitted by Jane Teah, Company Secretary on 21/05/2001 to the SGX



BRIERLEY INVESTMENTS LIMITED

DISPOSAL OF STAKE IN JAMES HARDIE INDUSTRIES LIMITED

21 May 2001, Singapore - Brierley Investments Limited ("BIL") announces that
it has, through its wholly-owned subsidiary, UB Minerals (Australia) Pty Ltd,
entered into a fully underwritten placement agreement with JBWere Limited
("JBWere") for the sale of its entire stake of 119.4 million shares ("Shares")
in James Hardie Industries Limited ("James Hardie"). The Shares represent
28.7% of the issued capital of James Hardie. The minimum sale price under the
agreement is A$4.60 per share. However, under the sale process, BIL will
announce the final pricing of the placement exercise before trading resumes in
New Zealand tomorrow morning. Pending this further announcement, trading in
BIL shares will remain suspended.

James Hardie, which is listed on the Australian Stock Exchange, is a global
leader in the manufacture of fibre cement building products with major
operations in the United States, Australia, New Zealand, Chile and the
Philippines.

BIL remains a strong supporter of James Hardie's management and its continuing
growth potential as a cement fibre board business. However, the current market
provides an ideal opportunity for BIL to further consolidate its balance
sheet. The sale of the Shares will realise good value for BIL's shareholders
and is consistent with BIL's primary objective as an active investment
management company.



Enquiries:

Brierley Investments Limited      Tel: +65-438-0002

Andrew Shepherd (Chief Financial Officer)

Email: a.shepherd@bil.com.sg

Gavin Anderson & Company      Tel: +65-339-9110

Richard Barton

Mobile: +65-9627-1056

Email: rbarton@gavinanderson.com.sg

Terence Foo

Mobile: +65-9878-8787

Email: tfoo@gavinanderson.com.sg

Rav Dhaliwal

Email: rdhaliwal@gavinanderson.com.sg



Submitted by Jane Teah, Company Secretary on 21/05/2001 to the SGX

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