Interim Results

Petra Diamonds Ld
14 May 2001


FOR IMMEDIATE RELEASE 
 
PETRA DIAMONDS LIMITED 

CHAIRMAN'S STATEMENT 

6 Months ended 31 December 2000 

The Profit and Loss Account for the six months ended 31 December 2000,
together with the Balance Sheet at that date, are attached to this statement.
Due to the loss for the period no dividend is proposed.

Income for the period arose from the Company's contract, as the managing
partner in the Nabera consortium, to manage Alexkor, the South African state
owned alluvial diamond mining company. This income has continued since 1
January 2001, providing cash flow for the Company's operations at the current
level.

The last twelve months have been a difficult period for Petra, commencing as
they did with the inability to obtain authority for the acquisition of Oryx
Natural Resources. I would like to thank shareholders for their patience and
support, and also to express the Board's thanks to the London Stock Exchange
for their assistance in protecting the interest of the Petra shareholders.

A further announcement in relation to the proposed New Diamond Corporation
acquisition will be made in the near future.

Adonis Pouroulis
(Chairman)

14 May 2001

                                                                 
                UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT   
                FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2000  
 
                          Unaudited figures                          Unaudited
                                                                      figures 
                             1 July 2000-     Audited results    1 July 1999-
                              31 December        1 July 1999-     31 December   

                                     2000        30 June 2000            1999   
                                        £               £                  £ 

  Turnover                          3,310           8,763              7,177  

  Cost of mining                  (16,843)       (229,125)           (66,112) 
  operations                                                                  

  Gross loss                       (13,533)      (220,362)           (58,935) 

  Other operating                (428,540)     (4,156,493)          (623,533) 
  income and charges                                                          

  Operating loss                 (442,073)     (4,376,855)          (682,468) 

  Share of operating               (3,991)          2,032              3,699  
  profit/(loss) of                                                            
  associate                                                                   

  Finance costs                   (11,829)        (61,942)           (56,831) 

  Loss on ordinary                                                            
  activities before                                                           
  and                                                                         
  after taxation for             (457,893)     (4,436,765)          (735,600) 
  the financial period                                                        

  Loss per Ordinary                (1.19p)        (12.16p)            (1.91p) 
  Share                                                                       


UNAUDITED CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2000 
 
                                      Unaudited        Audited      Unaudited 
                                        figures        results        figures 
                                    31 December        30 June    31 December 
                                           2000           2000           1999 
                                              £              £              £ 

  Capital and Reserves                
                                        
  Called up share capital            3,882,356      3,841,625      3,841,625  

  Share premium account             10,968,965     10,568,446     10,568,446  

  Other reserves                                                              

  Foreign Exchange Translation        (344,420)      (412,405)    (1,413,256) 
  Reserve                                                                     

  Profit and loss account           (9,776,524)    (9,318,631)    (4,625,402) 

  Minority interest                      2,223          2,211          2,211  
                                                                              
                                     4,732,600      4,681,246      8,373,624  

  Fixed Assets                                                                

  Intangible assets                  5,268,143      5,270,133      8,359,789  

  Tangible assets                       52,882        108,897        263,570  

  Investments in associated              9,444         13,431         10,187  
  companies                                                                   

                                     5,330,469      5,392,461      8,633,546  

  Current Assets                                                              

  Stock                                    229          3,912          4,348  

  Debtors                              274,819        509,291        263,570  

  Cash and cash equivalents             24,038         12,867         10,187  

                                       299,086        526,070        857,815  

  Creditors: Amount falling due       (898,955)    (1,237,285)    (1,117,737) 
  within one year                                                             

  Net Current Liabilities             (597,869)      (711,215)      (259,922) 

  Total assets less current          4,732,600      4,681,246      8,373,624  
  liabilities                                                                 
 

Notes to the Interim Financial Statements for the six months ended 31
December 2000  
 
1. The unaudited interim financial statements for the six months ended 31
December 2000 do not constitute statutory accounts within the meaning of
section 240 of the Companies Act 1985.
They have been drawn up using accounting policies and presentation consistent
with those applied in the audited accounts for the year ended 30 June 2000. 
 
2.     No dividends were proposed or paid during the period.