BRL Blackthorn

RNS No 4131n
BRIERLEY INVESTMENTS LIMITED
1st December 1998


SHAMROCK CAPITAL ADVISORS, INC (Shamrock)

The Board of Brierley Investments Limited (BIL) has considered Shamrock's
revised proposal to acquire new equity in BIL and to provide it with management
services.  After considering the financial aspects and the dilutionary impact to
BIL's present capital structure, and in the light of the better financial
position BIL is in today, it was concluded that Shamrock's proposal for new
capital injection was not desirable or necessary at the present time.

Accordingly, the Board has informed Shamrock that it does not recommend
acceptance of its revised proposal.

An announcement will be made later this week detailing policy matters which have
been agreed by the Board.

M B Horton
Company Secretary

END

MSCFCDCBPDDDPBK

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