Director Shareholding

Petra Diamonds Ld
19 January 2005



                     Petra Diamonds Limited (the 'Company')

                            Director's shareholding

Application has been made for 1,953,762 new ordinary shares of 10p each in the
Company to be admitted to trading on the AIM Market of London Stock Exchange plc
following the exercise of options by Societe Diamantaire CH Finkelstein & Co NV
('Finkelstein & Co'). The total exercise value of the options was US$1,750,000
and the exercise price was 47.5 pence per share. The total holding of
Finkelstein & Co following this option exercise is 6,143,706 shares,
representing 8.63% of the issued share capital of the Company. Charles
Finkelstein, a director of the Company, is also a director of Finkelstein & Co.

Proceeds received by the Company as a result of the exercise of the options will
be used for exploration and ongoing group working capital purposes.

The shares will rank pari passu with existing ordinary shares and dealings are
expected to commence in the new ordinary shares at 8.00am on 24 January 2005.

For further information, please contact:

Kevin Dabinett / David Abery   Justine Howarth / Cathy Malins
Petra Diamonds                 Parkgreen Communications
Tel: [phone]           Tel: [phone]


                      This information is provided by RNS
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