Brierley Investments - Re Disposal of Interest

RNS Number:0029F
Brierley Investments Limited
4 February 2000


Brierley Investments Ltd (BIL) today confirmed it was investigating options to
sell its 50% share in the Sealord company.

Information about the company is being distributed to potential bidders today by
Deutsche Bank, which has been appointed to handle the expressions of interest
process.

"This process is being undertaken in full consultation with our joint venture
partner, the Waitangi Fisheries Commission (Te Ohu Kai Moana), which is
committed to remaining a long-term shareholder in Sealord," said BIL chief
executive Greg Terry from Singapore.

"We are seeking a new shareholder who has the ability to invest in and add value
to Sealord, with Deutsche Bank targeting purchasers from both New Zealand and
around the world."

Terry said this would help ensure that the widest range of potential buyers had
the opportunity to invest in the Sealord business.

Sealord, one of New Zealand's largest fishing companies, was purchased by BIL
and the Treaty of Waitangi Fisheries Commission (Te Ohu Kai Moana) in a 50/50
joint venture in 1993.


For further information please contact: Anne Hogan, Raynish & Partners Public
Relations Consultants, Phone [phone], Fax [phone],
Mob [phone].

For international enquiries, please contact Hamish Bell, Shandwick International
(Singapore), Tel [phone], Fax [phone].


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