Record Diamond Sale

Petra Diamonds Ld
20 December 2007



                             Petra Diamonds Limited


                              Record Diamond Sale


Petra Diamonds Limited ('Petra' or 'the Company') announces the sale of an
exceptional 99.43 carat diamond, recently produced from the Company's Sedibeng
mine, South Africa. The stone has been sold for US$1,305,009 (equivalent to
US$13,125 per carat).


In September 2007 the Company announced the sale of a 74.7 carat stone (produced
from the Koffiefontein mine) for US$1,012,636 (US$13,556 per carat), which was
the first ever diamond produced by Petra that sold for more than US$1 million.
This 99.43 carat stone is now the most valuable stone produced in Petra's
history and a photo of the remarkable diamond can be viewed on the Company's
website at www.petradiamonds.com.



Petra also announces the sale of another exceptional stone from Koffiefontein. A
51.88 carat stone was recently sold for US$780,580, equivalent to US$15,046 per
carat.  This is an outstanding value per carat for a kimberlite mine and stands
as testimony to the quality of stones being produced from Koffiefontein.





Adonis Pouroulis, Chairman of Petra, commented; 'To sell the most valuable
diamond ever in Petra's history is a very fitting end to what has been a
remarkable year for the group. Given all the very positive developments of 2007,
and indeed the last few weeks with the acquisition of the Cullinan diamond mine,
I look forward to our prospects for 2008 with great confidence.'





A trading update for the period to 31 December 2007 will be published on 24
January 2008, when the Company will hold its AGM.





For further information, please contact:


Cathy Malins                               Telephone: [phone]
Petra Diamonds, London

Justine Howarth / Louise Goodeve           Telephone: [phone]
Parkgreen Communications, London

Adrian Hadden                              Telephone: [phone]
Collins Stewart, London






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