RNS Number:3922A
Brierley Investments Limited
13 March 2001

     13 March 2001


                         Brierley Investments Limited

                        -----------------------------

 At the Special General Meeting of Brierley Investments Limited, on 05 March
  2001, the shareholders approved the re-denomination of ordinary shares of
NZ$0.10 par value into ordinary shares of US$0.10 par value and consolidation
   of every 2 ordinary shares of US$0.10 par value into 1 ordinary share of
                              US$0.20 par value.

Accordingly, application has been made to the London Stock Exchange Plc and
the UK Listing Authority for 1,368,063,633 ordinary shares of US$0.20 par
value ("shares") to be admitted to the official list. It is expected that
admission will be granted on Tuesday, 13 March 2001 and that dealings will
commence on Wednesday, 14 March 2001.

The existing class, of ordinary shares of NZ$0.10 each, will "convert" into
ordinary shares of NZ$0.20 and halve in number through the re-denomination and
consolidation.

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