DCP.L Regulatory News (DCP)

1 May 2012

DiamondCorp plc

Directorate Change

The Board of Directors of DiamondCorp plc ("DiamondCorp" or "the Company") is pleased to announce the appointment of Michael Toxvaerd to the Board as Non-executive Director with immediate effect.

Mr Toxvaerd is Chief Investment Officer of HBG Management Partners, a leading UK private equity firm serving high net worth private and institutional clients in the Arabian Gulf. He has more than 15 years of experience founding, operating, acquiring, integrating and leading a variety of businesses in private equity and public markets at board and senior management level. Mr Toxvaerd was most recently Founder, CEO and Deputy Chairman of NeutraHealth plc, an AIM listed company. He holds an MBA from Cranfield School of Management.

Mr Toxvaerd is also a non-executive Director of European Islamic Investment Bank plc ("EIIB"), an AIM listed company and significant shareholder of DiamondCorp. EIIB is interested in a total of 55,761,412 ordinary shares in the Company, which represents approximately 23.02% of the issued share capital of the Company.

HBG Management Partners, via its wholly owned subsidiaries, is interested in 274,633,802 ordinary shares of EIIB, which represents approximately 15.55% of the issued share capital of EIIB.

Euan Worthington, Chairman commented:

"We are very pleased to welcome Michael on to the Board and believe that his financial background will help to finalise the financing for Lace while his entrepreneurial experience will help us evaluate other opportunities in the diamond sector".

Please see the Appendix below for further disclosure with regard to Michael Toxvaerd in accordance with the AIM Rules for Companies.

Contact details:

DiamondCorp plc

Paul Loudon, Chief Executive Officer

+44 20 3151 0970 / +27 56 212 2308

Fairfax I.S. PLC

AIM Nomad and Joint Broker

Ewan Leggat/Laura Littley

+44 207 598 5368

Ocean Equities Limited

Joint Broker

Guy Wilkes

+44 207 786 4370

PSG Capital (Pty) Limited

JSE Sponsor

John-Paul Dicks

+27 21 887 9602

Russell & Associates

Charmane Russell/Marion Brower

+27 11 880 3924

APPENDIX

Further disclosures regarding Michael Toxvaerd as required by the AIM Rules for Companies.

Full name: Michael Hjelm Toxvaerd

Age: 37

Michael Toxvaerd currently holds, or has during the five years preceding the date of this announcement held, the following directorships or partnerships: