Change of Adviser

30 November 2010 Karelian Diamond Resources plc ("Karelian" or "the Company") Appointment of Broker Karelian Diamond Resources plc (AIM: KDR; IEX: KDRI) is pleased to announce the appointment of XCAP Securities plc as broker to the Company with immediate effect. Further Information: Professor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-661-8958 Resources plc Simon Clements/Virginia Bull, Merchant Securities Tel: +44-20-7628-2200 (Nomad) John Tuite, IBI Corporate Finance Limited (ESM Tel: +353-1-637-7800 Adviser) David Newton/John Grant, XCAP Securities plc (Broker) Tel: +44 207 101 7070 Michael Padley/Michael Spriggs, Lothbury Financial Tel: +44-20-7868-2010 Services Limited Don Hall, Hall Communications Tel: +353-1-660-9377 http://www.kareliandiamondresources.com
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