Director/PDMR Shareholding

Gem Diamonds Limited
17 December 2007


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

Having been given permission to deal, Gem Diamonds Limited has received
notification  that Neil Kaner sold 7,000 Ordinary Shares of US$ 0.01 each, at a
price of £10.89 following the exercise of 7,000 options under the Company's ESOP
at a nil cost exercise price.

Andre  Confavreux
Company Secretary
020 3043 0280


END


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