Change of Broker

Conroy Diamonds & Gold PLC
18 May 2005


MAY 18, 2005
                          
                          CONROY DIAMONDS AND GOLD PLC                                        
                                      
                  CONROY APPOINTS CITY CAPITAL SECURITIES (3C)                                        
                               AS ITS NEW BROKERS
                                        

   • Division Of Investment Bank Also Becomes Broker To Karelian Diamonds

   • Former Canaccord Research Chief Appointed To Karelian Board

AiM quoted Conroy Diamonds and Gold P.l.c is pleased to announce the appointment
of City Capital Securities Ltd, part of City Capital Corporation (3C), as
brokers to work with the Company as it continues to progress its gold project in
the Longford-Down Massif in the north of Ireland.

Commenting on the appointment, Conroy chairman, Professor Richard Conroy said
today: 'We are pleased to link up with 3C and look forward to working with them
as we continue to move forward with our gold project. I'm sure they will be
strong supporters of our efforts to establish a new gold province in Ireland.'

Since the de-merger of its Finnish diamond interests last year, Conroy has been
focused solely on its exploration licences which cover some 1,500km2 of the
Longford-Down Massif in a continuous block extending from County Armagh to
County Cavan, a distance of around 110km. The licences follow the trend of the
Orlock Bridge Fault, thought to be the controlling influence on regional
mineralisation in the Massif.

Conroy has made a number of significant gold discoveries on these licences, and
its regional approach to exploration has enabled it to demonstrate the overall
potential of the Massif to host a new gold province.

KARELIAN DIAMONDS CONNECTION

Professor Conroy announces that 3C will also be brokers to Karelian Diamond
Resources plc which is exploring for diamonds in Finland. In addition, Mr Roger
Chaplin, a well-known City resources analyst, has accepted an invitation to join
the Karelian Board.

Roger began his career in mining analysis in 1979, joining the GFSA group in
South Africa after completing an MBA at Cranfield School of Management. He
returned to the UK in 1987 to join the Laing & Cruickshank mining team run by
Tim Hoare. He moved with Tim in 1993 to set up T Hoare & Co (later taken over by
Canaccord Capital), the 'niche' mining broker where, as head of research, he
specialised in precious metals and diamonds.

Since 2003 Roger has operated as an independent mining analyst specialising in
the same sectors, and at the beginning of 2005 he joined M Horn & Co, the
natural resources corporate finance and advisory boutique.

Further Info:

Professor Richard Conroy, Chairman Conroy Diamonds and    Tel:
Gold Plc.                                                 00-353-1-661-8958

Ron Marshman/John Greenhalgh, City of London PR           Tel:
Limited.                                                  00-44-20-7628-5518

Don Hall, Hall Communications                             Tel:
                                                          00-353-1-660-9377
Visit website at: www.conroydiamondsandgold.com
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