Significant Shareholding

Petra Diamonds Ld
03 May 2006

                             Petra Diamonds Limited
                                ('the Company')

                            Significant Shareholding


On 3 May 2006 the Company was notified that following recent purchases Saad
Investments Company Limited now hold 14,369,013 ordinary shares in the Company
representing approximately 9.7% of the Company's ordinary issued share capital.


For further information, please contact:

Justine Howarth / Annabel Leather                Telephone: [phone]
Parkgreen Communications, London



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