Change of Adviser

Petra Diamonds Ld
08 December 2003



For release 8 December 2003

                             Petra Diamonds Limited
                               Change of Advisers


Petra Diamonds Limited ('Petra' or 'the Company'), the AIM quoted mining group,
has appointed Williams de Broe Plc ('Williams de Broe ') as its nominated
adviser and stockbroker with immediate effect.


The appointment of Williams de Broe brings to the Company extensive mining
sector, stockbroking and corporate finance experience, supporting Petra's
strategy to move away from its pure exploration beginnings to a broader based
group that will focus on the mining of diamonds and platinum.


Petra has also recently appointed Memery Crystal as solicitors to the Company.


Both of these appointments have been made as Petra is at a pivotal stage of its
development and wants to ensure that it maximises the potential of its
opportunities. In June 2003, Petra discovered three new diamondiferous
kimberlites on its Alto Cuilo concession in Angola; a drilling programme will
commence on the concession in December 2003 with bulk sampling commencing in the
second quarter of 2004.  In South Africa, a Petra-led consortium is a
short-listed bidder in the privatisation of the Government-owned Alexkor diamond
mine, Petra has an option agreement in place with Rio Tinto on its Limpopo
kimberlite prospects and the Company has also applied for prospecting permits
for two kimberlite exploration projects, Syferfontein and Pakwe.


Commenting on these appointments, Adonis Pouroulis, Chairman and Chief Executive
of Petra Diamonds said, 'I am delighted to be working with Williams de Broe and
Memery Crystal. These appointments reflect the priority we are placing on
developing our growth opportunities, and I believe we are now well positioned to
become a successful mining group. I look forward to delivering positive news to
our shareholders over the coming months.'



                                      Ends



For further information, please contact:

Justine Howarth / Cathy Malins
Parkgreen Communications
Tel: [phone]


Frank H. Moxon
Williams de Broe
Tel: [phone]


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