Issue of Equity

Sunrise Diamonds PLC
31 May 2006


                              Sunrise Diamonds plc
                              Exercise of Warrants

31 May 2006

Sunrise Diamonds plc (the 'Company') announces that it has received applications 
to exercise 4,282,500 warrants, at an exercise price of 3p per share.

These shares will be issued and allotted and will rank pari passu with the 
existing Ordinary Shares of 0.1p each in the Company. Trading of these shares on 
AIM is expected to commence on 6 June 2006.

The total number of shares in issue following this exercise of warrants will be 
97,435,278.

Pursuant to the exercise of these warrants City Equities (Nominees) Limted will 
hold 3,295,000 shares representing 3.4 per cent of the total shares in issue.

For further information, please contact:


Patrick Cheetham, Sunrise Diamonds plc.

Tel: [phone]. Mobile: [phone]


John Greenhalgh/Ron Marshman, City of London PR Ltd.

Tel: +44 ( 0)20-7628-5518




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