40p Share Placing to Raise £0.52m

Petra Diamonds Ld
23 November 1999

Petra Diamonds Limited announces that it has issued 1,300,000
new ordinary 10p shares at 40p per share, by way of a Placing,
to raise £520,000 before expenses.  The placing price of 40p per
share was materially equal to the market price on the date that
the agreement was negotiated.

The shares are expected to be admitted to trading on AIM on 24
November 1999.