Trading Statement

Petra Diamonds Ld
14 August 2002


                    PETRA DIAMONDS LIMITED ('PETRA' OR 'THE COMPANY')

Petra Diamonds Limited announced in July that a 100%-owned subsidiary, in
partnership with a number of black empowerment companies and trusts, had
submitted credential documentation to qualify as a short-listed bidder for the
Alexkor diamond mine and surrounding infrastructure.

We are pleased to announce that the bidding company has been short-listed by the
Department of Public Enterprises of the Government of the Republic of South
Africa, to submit an offer to purchase the 51% share interest that is to be sold
by the government pursuant to its privatisation programme. The corporate
structure in terms of which an offer to purchase will be made is an advanced
model for South Africa's black empowerment initiatives and exceeds any proposed
guidelines for mine ownership.

Bidders have not yet been informed of the date on which the Information
Memorandum, data room access, and site visit will be scheduled.  Subject to the
rigorous provisions of any Confidentiality Undertaking still to be signed Petra
will keep its shareholders informed of developments.



14 August 2002




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