Petra provides interim results

Petra Diamonds Limited announces its interim results (unaudited) for the six months to 31 December 2007, following its trading update announced on 24 January 2008. These results record substantial revenue growth with a corresponding turnaround in profits and cash flows. The Company reports its first profits following its successful development from an exploration base into a leading diamond producer and exploration group.

The Company has, over the past 14 months, successfully grown its base of production assets through the separate acquisitions of the Cullinan,Koffiefontein and Kimberley Underground mines, compl ementing Petra’s world class exploration base in Angola (Alto Cuilo, Luangue), Botswana (Kalahari Diamonds) and operations in Sierra Leone (Kono).

Adonis Pouroulis, Chairman, said that in the period under review Petra agreed two further key acquisitions, Cullinan and Kimberley Underground, in line with our strategy to introduce high quality producing assets into the Group. Upon completion of these two acquisitions,Petra will be the operator of six producing diamond mines in South Africa and these assets, combined with our strong exploration pipeline, ensure that the Group is well positioned to become a top tier global diamond producer. With Group production expected to rise to well over 1 million carats per annum by 2010, against a previous management target of 500,000 carats for the same period, we have rapidly established strong revenue growth that will in turn enhance shareholder value.

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