Significant Shareholding

Petra Diamonds Ld
30 May 2006


                             Petra Diamonds Limited
                                ('the Company')

                            Significant Shareholding


On 30 May 2006 the Company was notified that following recent purchases Saad
Investments Company Limited now hold 16,203,988 ordinary shares in the Company
representing approximately 10.94% of the Company's ordinary issued share
capital.


For further information, please contact:

Justine Howarth / Annabel Leather               Telephone: [phone]
Parkgreen Communications, London






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