Rockwell’s April 2008 diamond sale

Rockwell Diamonds Inc. reports on its third diamond sale for 2008, completed on April 17th, 2008.

The Company offered a total of 2,712.75 carats for sale, representing diamond production for the end of February and all of March 2008 from the Wouterspan, Holpan and Klipdam mining operations. Rockwell realized total revenue of US$4,527,307 for this sale, representing an average price of US$1,668 per carat.

The operating costs for production during the period were approximately US$3.80 per tonne, a decrease from US$4.00 per tonne during the prior period. Details of prices achieved for the individual mining operations are included in the table below. Rockwell receives 74% of the revenues from the sale of the diamonds from these operations.

As with the March diamond sale and other tenders this year, prices achieved for the diamonds sold in this latest sale showed strength in all categories. The distribution of diamonds larger than 10 carats sold was:

- 25 stones of 10 - 20 carats

- 2 stones of 21 - 30 carats

- 1 stone of 30 - 40 carats

- 4 stones of 40 - 50 carats

- 1 stone of 107 carats

The 107 carat diamond was recovered from the Holpan mine and was sold into the Steinmetz/Rockwell joint venture agreement to beneficiate selected special diamonds.

President and CEO John Bristow said, as was the case for the previous two sales of 2008, the market for our diamonds has again showed strength in all categories. The prices achieved for this tender were excellent considering that there were fewer high quality white stones and, in general, the overall qualities of diamonds mined in the period were not the same as in the previous two tenders. The decline in operating costs is another positive factor for this sales period.

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