Convertible Loan Notes

Petra Diamonds Ld
02 December 2005

               Petra Diamonds Limited ('Petra' or 'the Company')

               Convertible Loan Notes and Block Admission Review



Petra announces that a total of 1,024,287 new ordinary shares have been issued
pursuant to the conversion of A$1,214,177 of the Company's ASX-listed
convertible loan notes in the period from Petra's admittance to the ASX up to
and including 30 November 2005, the date on which the loan notes matured.



Loan notes in the amount of A$1,695,197 were not converted prior to maturity and
this amount will now be paid by the Company to loan note investors and there
will then be no outstanding liability with regards to the loan notes.



As at today's date, the Company has 148,127,976 ordinary shares in issue,
dual-listed on AIM and ASX, and there are no further convertible loan notes in
issue.







For further information, please contact:


Parkgreen Communications

Justine Howarth / Cathy Malins

Tel: [phone]
Petra Diamonds, Perth

John Baillie

Tel [phone]








                      This information is provided by RNS
            The company news service from the London Stock Exchange