Issue of Equity

Conroy Diamonds & Gold PLC
11 September 2003



                         CONROY DIAMONDS AND GOLD P.L.C

              CONROY RAISES £1.25 MILLION FOR NEXT STAGE DRILLING

                          OF ARMAGH-MONAGHAN GOLD BELT

   •Newly Discovered Ballygreany Prospect To Be First Target Drilled

   •Assay Results From Current Trenching Expected Later This Month

AIM-listed Conroy Diamonds and Gold Plc has today raised £1,250,000 (Euro 1.75m)
through a placing of ordinary shares at a price of Stg5p each through its
brokers Seymour Pierce . The new funds will be used primarily for further
drilling within the Armagh-Monaghan Gold Belt which the company has discovered
in the Longford-Down Massif in the north of Ireland.

The Armagh-Monaghan Gold Belt has been outlined to date over an area of 20km by
3km. Within this, Conroy has discovered five separate areas of gold
mineralisation, all of which lie along a 6.5km long section of the belt. The
most recent discovery at Ballygreany, which has yielded the company's best
gold-in-soil values to date over an area of 500m by 125m, is now being trench
sampled. Assay results are expected later this month and drilling will follow.

The new funding raised will allow Conroy to progress to the next stage of
drilling within the Gold Belt, including a more detailed assessment of one or
more of the five gold areas discovered to date. It will also enable the company
to continue its exploration programmes in other parts of the highly prospective
Longford Down Massif, where it holds prospecting licences covering an area of
approximately 1,500km2 (600 mile2).

Further Information:

Professor Richard Conroy, Chairman, Conroy Diamonds and Gold Plc
Tel: [phone] www.conroydiamondsandgold.com
Sarah Wharry/Dru Edmonstone, Seymour Pierce. Tel: [phone]
Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]




                      This information is provided by RNS
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