Plan of arrangement

SouthernEra Diamonds Inc
01 September 2004



SouthernEra Diamonds Inc. ('SouthernEra' or the 'Company')

CUSIP: 84415N 10 2

The Board of SouthernEra notes today's adjustment in the Company's share price
on the Alternative Investment Market of the London Stock Exchange ('AIM'). The
adjustment is directly attributable to today's implementation of the plan of
arrangement ('the Plan'), approved by shareholders at an extraordinary general
meeting held on 27 July 2004.

Pursuant to the Plan, SouthernEra continues its diamond business through the
current public company which has been renamed 'SouthernEra Diamonds Inc.' and
has transferred its platinum and gold businesses to a new public company,
Southern Platinum Corp, that will initially only be listed on the Toronto Stock
Exchange (TSX: SPC). The shares and warrants of SouthernEra Diamonds Inc.
continue to trade on the Toronto Stock Exchange (TSX: SDM) and AIM (AIM: SRE)
and the name change will become effective in London from 2 September.


Enquiries:

Chris Reynolds, Vice President Finance, Controller and Secretary
Telephone: [phone], Fax: [phone]

E-mail: [e-mail]



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