Issue of Equity

Petra Diamonds Ld
24 October 2001


FOR IMMEDIATE RELEASE

PETRA DIAMONDS LIMITED (THE 'COMPANY')

Petra Diamonds Limited announces that it has issued 380,367 ordinary shares in
respect of various debts due by the Company.

It is expected that the shares will be admitted to trading on AiM on 29
October 2001.


Dated: 24 October 2001