Tahera Diamond provides update

Tahera Diamond Corporation intends to satisfy the alternative information guidelines recommended by Ontario Securities Commission (OSC) Policy 57-603 and Canadian Securities Administrators Staff Notice 57-301.

The company has completed processing at the Jericho Mine. The processing plant and mine infrastructure are now being prepared for a period of care and maintenance. It is expected that this exercise will take a number of weeks to complete. Staff at the mine will be reduced to a level that will meet the care and maintenance work requirements.

The Company completed its most recent valuation on April 20th, 2008 where approximately 33,500 carats were valued at an average price of US $99. 00 per carat. A final valuation will be completed in May 2008, which will contain diamonds recovered from the cut-off date for the April valuation to the end of the processing.

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