Brierley Investments - Re Directorate

RNS No 4938f
BRIERLEY INVESTMENTS LIMITED 
19 May 1999

                    BIL EXECUTIVE APPOINTMENT

Brierley Investments Limited (BIL) Executive Chairman, Sir Selwyn Cushing, today
announced the appointment of Mr Arun Amarsi as Director of Special Projects and
Investments.

Based in Wellington, Mr Amarsi will be responsible for managing a number of the
Group's existing assets as well as looking at new investment opportunities.

Mr Amarsi was Chief Financial Officer, and a member of the Executive Board, of
Electricity Corporation of New Zealand Limited (ECNZ) between 1995 and 1999.  He
was specifically responsible for ECNZ's financial and risk management.  Prior to
joining ECNZ Mr Amarsi was a Partner of accountancy firm Ernst & Young.

Mr Amarsi has considerable international business experience including working
five years with Ernst & Young in Toronto, Canada.  At ECNZ Mr Amarsi was
responsible for a number of global capital raising programmes including managing
international banking and credit ratings relationships.

Sir Selwyn Cushing said, "I am delighted that Arun has agreed to join BIL.
He has a wide range of skills, particularly in the corporate finance and
strategic planning areas.  This experience will be put to good use immediately
given BIL has almost completed its restructuring and is again looking for new
investments".

Mr Amarsi is a graduate of Victoria University (Bachelor of Commerce &
Administration), and a member of the New Zealand and Canadian Institutes of
Chartered Accounts.

M B Horton, Company Secretary

END

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