Director/PDMR Shareholding

Gem Diamonds Limited
17 October 2007




Gem Diamonds Limited - Person Discharging Management Responsibility (PDMR) -
Sale of shares


Following permission to deal Gem Diamonds Limited received notification on 16th
October 2007 that John Houghton sold 7,000 Ordinary Shares of US$ 0.01 each at a
price of £10.79 following the exercise of 7,000 options under the Company's
ESOP.

Andre  Confavreux
Company Secretary
020 3043 0280



END








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