RNS Number:0720Z
Petra Diamonds Ld
25 July 2002

FOR RELEASE AT 07h00 ON 25 JULY 2002



PETRA DIAMONDS LIMITED ("PETRA" or "THE COMPANY")







On 28th June the Department of Public Enterprises (DPE) of the Government of the
Republic of South Africa through its advisors published a request for
Expressions of Interest in the sale of a 51% share interest in Alexkor Limited
which will be the owner of the Alexkor Diamond Mine and the Alexkor town
infrastructure.  The documentation also disclosed that the government will
retain a 39% interest and it will (in some manner not yet declared) make the
community the beneficiary of a 10% interest in the company.



The DPE asked interested parties to register their interest for the purpose of
pre-qualifying suitable purchasers.  The deadline for registrations of interest
was the 19th July.  Only those purchasers who pre-qualify according to criteria
established by the DPE will be eligible to receive an Information Memorandum and
have access to the Data Room and site visits for the purpose of the necessary
due diligence.  The pre-qualified buyers will be announced in August.



On 19th July 2002, Petra Diamonds Limited, through a newly established 100%
owned subsidiary, Afropean Diamonds (Pty) Ltd in partnership with a number of
black economic empowerment companies or trusts, submitted its documentation.



Most importantly, the bid documentation included a non-binding letter of comfort
under the signature of a leading global bank that a bid price up to a
significant US dollar value could be fully funded by the parties undertaking the
bid.



Petra also wishes to advise shareholders that it has now undertaken two visits
to Angola following the recent Peace Accord.  The second visit was a site visit
to its Alto Cuilo mining concession to establish the security position with a
view to shortly returning to the concession for the purpose of continuing with
its exploration programme.  The security team have reported that their
preliminary findings indicate that there is a reasonable opportunity to resume
activities and the company will be making a third visit to the country next week
to ascertain the possibility for the entry of an exploration team and the set-up
of a new drilling programme on the Alto Cuilo site.



Dated: 25 July 2002






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