Issue of Equity

Petra Diamonds Ld
17 January 2003




PETRA DIAMONDS LIMITED



Petra Diamonds Limited announces that it has placed a further 40,282 new
Ordinary Shares of 10p each for cash with Comell Capital Partners Offshore LLP
in accordance with its placing agreement with that company. The proceeds of
£8,000 will be used for general corporate purposes.



Application has been made for these shares to be admitted to trading on AiM and
dealings are expected to commence on 20 January 2003.


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