Result of Meeting

RNS Number:1346A
Brierley Investments Limited
8 March 2001



RE-DENOMINATION AND CONSOLIDATION OF SHARE CAPITAL - KEY POINTS

SINGAPORE, 8 March 2001 - Brierley Investments Limited (BIL and company), an
international investment company with a global portfolio of investments, wishes
to advise that at the Special General Meeting held on 5th March 2001
shareholders approved the re-denomination of the share capital of the company
from New Zealand dollars to United States dollars, as well as a consolidation of
its shares such that for every two shares of $0.10 each currently held by share
holders, they will now have one share of US$0.20, ignoring fractions.  The
re-denomination of the share capital mirrors the fact that the company has
changed its reporting currency from New Zealand dollars to United States
dollars.

The re-denomination and consolidation will have the following effects:

* The authorised share capital of the company will be US$1,000,000,000 dividend
into 5,000,000,000 shares of US$0.20 each; and

* All of the company's issued shares will be credited as fully-paid.


The company wishes to summarise the key events that will now take place:

* The existing listings on the Singapore Exchange, the New Zealand Stock
Exchange, the Australian Stock Exchange and the London Stock Exchange are
maintained;

* While the underlying denomination changes to United States dollars, all shares
will continue to be quoted in local currency on these Exchanges; and

* The consolidation of the share capital takes effect on all Exchanges.


What to expect
Shareholders can expect the following:

In Singapore:

Action to be taken
Shareholders are not required to take any action or pay any money to BIL.

What to expect
(a) Where shareholders have a securities account with the CDP, they will        

    receive advice from the CDP on their new holding.

(b) Shareholders without CDP accounts will receive a statement of Shareholding  
    from the share registrar in Singapore:
  
    M&C Services Private Limited
    138 Robinson Road
    No. 17-00 Hong Leong Centre
    Singapore 068906

Trading in the new shares
Trading in the new shares on the Singapore Exchange will commence on 14th March
2001.

In New Zealand:

Action to be taken
Shareholders are not required to take any action or pay any money to BIL

What to expect
Shareholders will receive a statement of shareholding from the share registrar
in New Zealand:

Computershare Registry Services Limited
Level 2, 159 Hurtsmere Road
Takapuna North Shore City
New Zealand

Trading in the new shares
Trading in the new shares on the New Zealand Stock Exchange will commence on
19th March 2001

In Australia:

Action to be taken
Shareholders are not required to take any action or pay any money to BIL

What to expect
Shareholders will receive a statement of shareholding from the share registrar
in Australia:

Computershare Registry Services Pty Limited
Level 3, 60 Carrington Street
Sydney NSW 1115
Australia

Trading in the new shares
Trading in the reorganised securities on a deferred settlement basis commenced
on the Australian Stock Exchange on 6th March 2001 and normal trading will
commence on 21st March 2001.
 
In the United Kingdom:

Action to be taken
Shareholders are not required to take any action or pay any money to BIL.

What to expect
Shareholders' existing certificates will be automatically cancelled. 
Replacement certificates will be issued on 19th March 2001 by the share
registrar in England:

Computershare Services PLC
The Pavilions
Bridgewater Road
Bristol BS 99 7NH
England

Trading in the new shares
Trading in the new shares on the London Stock Exchange is expected to commence
on 14th March 2001.

Enquiries:
Brierley Investments Limited Tel: [phone]
Andrew Shepherd
Email: [e-mail]

Gavin Anderson & Company Tel: [phone]
Richard Barton     Mobile: [phone]
Email:[e-mail] 
Terence Foo        Mobile: [phone]
Email: [e-mail]

Notes to editors:

Brierley Investments Limited
(Bloomberg: BRY SP, Reuters: BRY SI)
An international investment company headquartered in Singapore, Brierley
Investments Limited (BIL) has a primary listing on the Singapore Exchange, with
secondary listings on the London, New Zealand and Australian Stock Exchanges.

The company's primary role is as an active investor with strategic shareholdings
and active investment management aimed at extracting and maximising shareholder
value.

BIL's key Investments are:

* Thistle Hotels   - 46% stake
* James Hardie     - 28% stake
* Air New Zealand  - 30% stake
* Fraser and Neave - 10% stake

More information can be found on our website http://www.bilgroup.com.