Issue of Equity

Petra Diamonds Ld
25 October 2001

FOR IMMEDIATE RELEASE

PETRA DIAMONDS LIMITED (THE 'COMPANY')

As announced on 24 October 2001, Petra Diamonds Limited issued 380,367
ordinary shares in respect of various debts due by the Company.  These shares
were issued at various prices, with an average price of 42p per share.

It is expected that the shares will be admitted to trading on AiM on 29
October 2001.

Dated: 25 October 2001