Issue of Equity

Petra Diamonds Ld
06 March 2007



For release 6 March 2007


                             Petra Diamonds Limited

                                Issue of Shares


Petra Diamonds Limited ('Petra' or 'the Company') announces that the Company has
today agreed to issue 10 million new Petra shares to Saad Investments Company
Limited ('Saad') at a price of 175 pence per share, raising £17.5 million for
the Company before expenses.

Following this issue, the Company will have 161,498,607 ordinary shares in issue
and Saad will hold 43,810,390 ordinary shares in the Company representing
approximately 27.12% of the Company's ordinary issued share capital.
Application has been made for the new ordinary shares to be admitted to trading
on AIM, which is expected to occur on 8 March 2007.


ENDS

For further information, please contact:

Cathy Malins / Annabel Leather             Telephone: [phone]
Parkgreen Communications, London




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