Grant of Share Options

Petra Diamonds Ld
29 June 2004


29 June 2004


                             Petra Diamonds Limited

                             Grant of Share Options



Petra Diamonds Limited ('Petra' or 'the Company'), the AIM quoted mining group,
announces that the Company's Remuneration Committee resolved on 28 June 2004 to
grant share options over 750,000 ordinary shares to Petra's new Chief Executive
Officer, Kevin Dabinett, and over 500,000 ordinary shares to senior management.
The exercise price for these options is 54.5 pence, being the mid-market price
of Petra's shares as at the close of business on 28 June 2004.


On 5 September 2003 the Company announced the grant of options to its Executive
Directors, including a grant to Adonis Pouroulis (then Chairman and CEO) over
1.5 million ordinary shares.  In order to reflect his changed responsibility
from 15 June 2004 following the appointment of Kevin Dabinett as CEO, that grant
has been revised to options over 750,000 ordinary shares.


Following this grant, there are share options in place to the Executive
Directors and senior management over a total of 3,735,000 ordinary shares, being
5.5% of the Company's current issued share capital.



 Ends



For further information, please contact:



David Abery              Justine Howarth / Cathy Malins   Frank H. Moxon
Petra Diamonds           Parkgreen Communications         Williams de Broe Plc
Tel: [phone]     Tel: [phone]           Tel: [phone]





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