Record Diamond Sale

Petra Diamonds Ld 20 December 2007 Petra Diamonds Limited Record Diamond Sale Petra Diamonds Limited ('Petra' or 'the Company') announces the sale of an exceptional 99.43 carat diamond, recently produced from the Company's Sedibeng mine, South Africa. The stone has been sold for US$1,305,009 (equivalent to US$13,125 per carat). In September 2007 the Company announced the sale of a 74.7 carat stone (produced from the Koffiefontein mine) for US$1,012,636 (US$13,556 per carat), which was the first ever diamond produced by Petra that sold for more than US$1 million. This 99.43 carat stone is now the most valuable stone produced in Petra's history and a photo of the remarkable diamond can be viewed on the Company's website at www.petradiamonds.com. Petra also announces the sale of another exceptional stone from Koffiefontein. A 51.88 carat stone was recently sold for US$780,580, equivalent to US$15,046 per carat. This is an outstanding value per carat for a kimberlite mine and stands as testimony to the quality of stones being produced from Koffiefontein. Adonis Pouroulis, Chairman of Petra, commented; 'To sell the most valuable diamond ever in Petra's history is a very fitting end to what has been a remarkable year for the group. Given all the very positive developments of 2007, and indeed the last few weeks with the acquisition of the Cullinan diamond mine, I look forward to our prospects for 2008 with great confidence.' A trading update for the period to 31 December 2007 will be published on 24 January 2008, when the Company will hold its AGM. For further information, please contact: Cathy Malins Telephone: +44 (0) 20 7493 7671 Petra Diamonds, London Justine Howarth / Louise Goodeve Telephone: +44 (0) 20 7851 7480 Parkgreen Communications, London Adrian Hadden Telephone: +44 (0) 20 7523 8000 Collins Stewart, London This information is provided by RNS The company news service from the London Stock Exchange