FDI.L Regulatory News (FDI)

Firestone Diamonds plc

Exercise of Options

LONDON: 14 December, 2010

Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), announces that pursuant to the exercise of options under the Company's employee share option scheme, the Company has allotted 438,177 ordinary shares of 20p each in the Company ("Ordinary Shares") and has made application to the London Stock Exchange for these shares to be admitted to trading on AIM ("Admission"). It is expected that dealings in these new ordinary shares will commence on 20 December 2010. These new ordinary shares will rank pari passu in all respects with the existing issued Ordinary Shares in the Company.

Following Admission the total issued ordinary share capital of the Company will be 295,958,291 Ordinary Shares, all of which have voting rights.

For further information, visit the Company's web site at www.firestonediamonds.com or contact:

Background information on Firestone Diamonds:

Firestone Diamonds plc is an international diamond mining and exploration company with operations focused on Lesotho and Botswana. Firestone operates the Liqhobong Mine in Lesotho and the BK11 Mine in Botswana. Firestone is also the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields, controlling approximately 10,000 square kilometres around the major Orapa and Jwaneng mines and the entire Tsabong kimberlite field. In addition to Liqhobong and BK11, Firestone has 108 kimberlites in its portfolio, of which 30 have been proven to be diamondiferous.

Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine as well as the Kao and Mothae development projects. Botswana is the world's largest and lowest cost producer of diamonds, with annual production worth over $2.5 billion, and is considered to be one of the most prospective countries in the world to explore for diamonds.