Forum Archive Index - March 2000

[frank fernandez <frank.fernandez@xtra.co.nz>]

Well Hugh, I can quite understand you being "flabberasted" about BRY
being one of my picks for a quick capital gain this week because I do
work in mysterious ways which often can only be understood by a few. I
bought the stock earlier this week for 34c and it's now at 37c.  Late
this evening, BRY released its half year results and announced a $83.2m
loss for the half year. However the reason why I picked the stock as
having potential for capital gain is detailed in this media statement
below. I will send the full annual report in another posting. I'll leave
it to Sharechat readers to decide for themselves whether they should be
taking some BRY tomorrow. 
p.s. Hope everyone took AIA today which finished up at $2.62 (otherwise
I would have been wasting my time).

REL: 1715 HRS Brierley Investments Limited 
                  
GEN: BRY ANNOUNCES NEW DIVISION INVESTING IN INTERNET RELATED BUSINESSES 
                  
Brierley Investments Ltd  today announced the establishment of tech@BIL,
a new division which will invest in internet related businesses in the
Asia Pacific region.  The company also announced the formation of an
International Advisory Board, comprising well known international and
local business leaders who will provide guidance and investment counsel
to the new division. The division has received an initial commitment of
US$100 million, but additional funding will be provided for appropriate
opportunities. 
                 
The formation of tech@BIL follows BIL's announcement in October 1999 of
a relationship with the US based Madrona Group and a US$20m investment
in the Madrona Venture Fund, which will form an integral component of
tech@BIL. 
                 
Commenting on the announcement, Greg Terry, Chief Executive Officer of
BIL noted "When we announced our joint venture with Madrona, we
indicated that we expected technology investments to become a major
pillar of our business. The formation of  tech@BIL is a significant
first step for the new BIL, and reflects our commitment to and
expectations for the division in the future." 
                 
He added, "The Madrona investment provides tech@BIL with an excellent
and high profile start, and we expect the funds we have invested so far
to increase substantially over the coming months." 
                 
In addition to the Madrona investment, the new division will include
BIL's existing  investment in Fine Art Developments, which has
successfully launched its internet strategy in the United Kingdom, and
its investment in techpacific.com.  These investments are complimented
by a number of seed capital investments in several internet start-ups
which relate directly to BIL's bricks and mortar businesses.  In
addition, agreement in principle has been reached for seed investments
in B2B sites in the seafood and building materials markets, and a B2C
site in the hotel market. 
                 
tech@BIL is also in advanced discussions regarding investments in a
number of B2B internet sites, and expects to be able to make
announcements regarding these investments in the near future. 
                 
"These initial investments are focussed on internet sites where BIL can 
leverage its relationships and expertise from existing and recent asset
base to add value beyond the mere investment of money," noted Mr
Terry.      
He added: "In the case of the hotel related site for example, we can
provide immediate revenue opportunities both to the site and to Thistle
Hotels." 

While venture capital is freely available for internet projects -
especially in the US and Asia, capital coupled with leverage from
expertise and contacts within related bricks and mortar businesses is
harder to find. 
                 
"The size and range of the non-technology business in which BIL holds or
has held strategic stakes gives tech@BIL a competitive advantage as an
internet investor," noted Terry.  "We intend to exploit this advantage
fully in securing investments in first class e-commerce opportunities
with synergies to our other businesses." 
                 
International Advisory Board Established 
                 
In establishing the new division, the company has appointed an
International Advisory Board, which will provide guidance and investment
counsel to the new division, drawing on their extensive international
network and experience. 
                 
Members of the new advisory board include Tom Alberg, a partner in
Madrona Group and a director of Amazon.com,  John Greaves, Chairman of 
Onetel.Limited,  Kiang Heng-Pin, Counsel at Perkins Coie and former VP
and General Counsel of Nextel International, Inc., Robert Owen, Chairman
of techpacific.com and Deputy Chairman of Nomura Asia Holdings, Quek
Leng Hai, CEO of Guoco Group Ltd and Ang Kong Hua, President of
Singapore company NatSteel Ltd.  The Hon Philip Burdon, a BIL Director,
Chairman of Asia 2000 and a former New Zealand Minister of Trade has
agreed to chair the Board. 
                 
"We are very pleased that individuals of such calibre have agreed to
join the Advisory Board," noted Mr Terry.  "We believe that the
experience and wisdom offered by the members of the Advisory Board will
make an important contribution to the success of tech@BIL, and will
bring a global perspective to the business." 
                 
End CA:00054347 For:BRY    Type:GEN        
Time:2000-03-09:17:16:43 Encrypt:Y

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