Issue of Equity

Petra Diamonds Ld
29 January 2003


PETRA DIAMONDS LIMITED

Petra Diamonds Limited announces that it has placed a further 46,784 new
Ordinary Shares of 10p each for cash with Cornell Capital Partners Offshore LLP
in accordance with its placing agreement with that company. The proceeds of
£8,000 will be used to provide working capital.

Application has been made for these shares to be admitted to trading on AiM and
dealings are expected to commence on 30 January 2003.


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