Brierley Investments - Re Meeting Requisitioned, etc

RNS No 0704d
BRIERLEY INVESTMENTS LIMITED
24th August 1998


          STATEMENT BY BRIERLEY INVESTMENTS LIMITED

Brierley Investments Limited advises that it has received the following notice
requisitioning a meeting of shareholders.

The directors will consider the notice at their board meeting scheduled for 31
August 1998 and will advise the Exchange of their decisions relating to the
notice following the meeting.

The text of a news release is also below:

From: Patsy Reddy, Acting Company Secretary



To: Brierley Investments Limited
    21st August 1998

We give this notice as a shareholder in Brierley Investments Limited (the
'Company') in respect of the shares in the Company registered in our name (being
shares carrying together not less than 5 percent of the voting rights conferred
by all the shares in the Company) in which Camerlin Group Berhad, and entities
controlled by or under common control with, Camerlin Group Berhad, have a
beneficial interest, and on behalf of, Camerlin Group Berhad and those other
entities.

We refer to sections 121(b) and 156 of the Companies Act 1993 and to clause
22.5(a) of the Company's Constitution.

We request the Company's board of directors to call a special meeting of the
Company's shareholders for the purposes of removing Sir Roger Douglas from
office as a director of the Company.

We request that the special meeting be called for, and held on, the earliest
practicable date after the day the Company receives this letter.

From: John Woodhouse, Director, 
New Zealand Central Securities Depository Limited



               Statement from Brierley Investments Limited

Brierley Investments Limited (BIL) today announced it had received notice from
shareholder Camerlin Group Bhd requesting a meeting of shareholders, to vote on
the removal of Sir Roger Douglas as a director of BIL.

The issue will be considered at the next scheduled board meeting on Monday, 31
August.  Following this the company will make a further announcement.

For further information please contact:

Mr Mike Drogemuller, Group Communications Manager
Brierley Investments Limited
Tel: [phone]

END



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