Announcements

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Directors’ dealings – grant of share options

17 March 2010

Petra Diamonds Limited announces that the Company’s Remuneration Committee resolved on 16 March 2010 to grant the following share options over ordinary Petra shares:

Director	Position held within the Company	Number of Shares over which Options granted	Total Number of Shares under option following grant
Adonis Pouroulis	Chairman	100,000	1,450,000
Johan Dippenaar	Chief Executive Officer	350,000	2.450,000
David Abery	Finance Director	350,000	2,450,000
Jim Davidson	Technical Director	350,000	2,450,000

The exercise price for the above options is the 30 trading day average closing mid-market price of Petra’s shares up to 16 March 2010, the date of grant, being 60.5 pence per share. The options are subject to the satisfaction of appropriate performance conditions.

The Board and the Remuneration Committee also resolved to grant 3,114,000 options to other management (not directors) of the Company, at the same exercise price.

Following these option grants, the total number of shares under option will be 22,152,000 (representing 6.28% of the Company’s issued share capital) of which the number granted to the Directors is 8,800,000 (representing 2.50% of the Company’s issued share capital).

For further information, please contact:

Bobby Morse / Katharine Sutton
Telephone: +44 20 7466 5000
Buchanan Communications
bobbym@buchanan.uk.com / katharines@buchanan.uk.com

Nicola Taylor
Telephone: +27 11 880 3924
Russell & Associates
nicola@rair.co.za

Mike Jones / Ryan Gaffney
Telephone: +44 20 7050 6500
Canaccord Adams (NOMAD and Joint Broker)
mike.jones@canaccordadams.com
ryan.gaffney@canaccordadams.com

Joshua Critchley / Martin Eales
Telephone: +44 20 7653 4000
RBC Capital Markets (Joint Broker)
joshua.critchley@rbccm.com
martin.eales@rbccm.com

About Petra Diamonds

Petra Diamonds is a leading supplier of rough diamonds, with a gross resource base of 262 million carats. The Company offers a unique growth profile within the diamond sector, increasing its annual production fivefold in the year to June 2009 to over 1 million carats, and with firm plans in place to grow production to over 3 million carats.

In South Africa, Petra has interests in five producing mines – Cullinan, Koffiefontein, Helam, Sedibeng and Star - and has also agreed to acquire the Kimberley Underground mines from De Beers (this acquisition is expected to complete soon). In Tanzania, Petra has an interest in the Williamson mine.

Petra conducts all its operations according to the highest ethical standards, and will only work in countries which are members of the Kimberley Process. The Company is quoted on the AIM market of the London Stock Exchange (AIM: PDL).