Employee Share Options Plan

Gem Diamonds Limited
30 April 2008



                              Gem Diamonds Limited

                                (The 'Company')



30th April, 2008





  LONG TERM INCENTIVE PLAN (LTIP) AWARDS TO DIRECTORS UNDER THE EMPLOYEE SHARE
                              OPTIONS PLAN (ESOP)





The Company announces the following awards of Performance Shares (at a nominal
value of US$0.01 each), which have been made on 30 April 2008 to Directors under
the ESOP.




Clifford Elphick                         34,667
Kevin Burford                            24,009
Glenn Turner                             24,009
Alan Ashworth                            24,009



These Directors do not currently hold any Performance Shares.



The shareholding of each Director in the Company's Ordinary Shares of US$0.05
each is:


Clifford Elphick                         9,325,000*
Kevin Burford                            458,333
Glenn Turner                             600,000
Alan Ashworth                            Nil



*Clifford Elphick is interested in these shares by virtue of his interest as a
potential beneficiary in a discretionary trust which has an indirect interest in
those Ordinary Shares.



Performance Shares under the ESOP vest on the 3rd anniversary of the date of the
award subject to achieving performance conditions. Performance Shares which do
not vest will lapse.



In addition to the above, Performance Shares were awarded under the ESOP at the
same time to senior and other employees totalling 284,404.



The total award of Performance Shares (at nominal value) is 391,098.





Andre Confavreux

Company Secretary



Gem Diamonds Limited


                      This information is provided by RNS
            The company news service from the London Stock Exchange