Brierley Investments - Re Directorate

RNS No 3277a
BRIERLEY INVESTMENTS LIMITED
6th November 1998


SELWYN CUSHING TO JOIN THE BOARD OF 
BRIERLEY INVESTMENTS LIMITED

The directors of Brierley Investments Limited (BIL) are pleased to announce that
Mr S J Cushing has accepted an invitation to join the Board.

Mr Cushing's appointment takes effect today but under BIL's Constitution and the
Listing Rules of the New Zealand Stock Exchange he must retire at the annual
meeting to be held on 10 November 1998.  Because the required period of notice
cannot now be given it is not permissible for shareholders to consider Mr.
Cushing's reappointment at the annual meeting.

However, each of the directors (to the extent he or she has the status to do so)
has agreed to support a resolution of the Board to be considered immediately
followiwng the close of the annual meeting that Mr Cushing be reappointed as a
director and that he be elected as chairperson of the Board in place of Sir
Roger Douglas.

Mr Cushing was a director of BIL from 1974 until 1993 and currently is chairman
of BIL associate, Air New Zealand.

Sir Roger Douglas said today, "Mr Cushing's knowledge of BIL and his standing on
the commercial and investment worlds will be of immense benefit to BIL.  His
appointment will enhance the independence and stability of the Board.


END

BOAALLEILSLRIAT