Grant of Options

Petra Diamonds Ld
05 March 2007



For Release 5 March 2007


                             Petra Diamonds Limited

                               Directors Dealing

                             Grant of Share Options


Petra Diamonds Limited ('Petra' or 'the Company') announces that the Company's
Remuneration Committee resolved on 2 March 2007 to grant the following share
options over ordinary Petra shares:



Adonis Pouroulis            Chairman                               300,000
Johan Dippenaar             Chief Executive Officer                300,000
Jim Davidson                Technical Director                     300,000
David Abery                 Finance Director                       300,000



The exercise price for the above options is the closing mid-market price of
Petra's shares on 2 March 2007, the date of grant, being 156 pence per share.
The options will be subject to the satisfaction of appropriate performance
conditions.



Ends



For further information, please contact:


Cathy Malins / Annabel Leather                 Telephone: [phone]
Parkgreen Communications, London






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