Alexkor Management Agreemt

PETRA DIAMONDS LIMITED
1 October 1999



Petra Diamonds Limited ('Petra') announces that, in terms of the
Alexkor Management Agreement, its Nabera consortium has been in
management control of Alexkor since 17 May 1999.


In order to correct erroneous reports in the South African
media, Petra announces that it is in consultation with the South
African Government regarding the clause in the Alexkor
Management Contract in terms of which Government undertakes to
repay the funds borrowed by Nabera on behalf of Alexkor.

This one outstanding issue is in the process of being resolved.