Issue of Equity

Petra Diamonds Ld
06 January 2003


PETRA DIAMONDS LIMITED


Petra Diamonds Limited announces that it has placed a further 40,101 new
Ordinary Shares of 10p each for cash at 19.95p per share with Comell Capital
Partners Offshore LLP in accordance with its placing agreement with that
company. The proceeds of £8,000 will be used to provide working capital in
Angola.

Application has been made for these shares to be admitted to trading on AiM and
dealings are expected to commence on Tuesday 7 January 2003.


                      This information is provided by RNS
            The company news service from the London Stock Exchange