Petra Diamonds Regulatory News (PDL)

Petra Diamonds Limited

("Petra" or "the Company" or "the Group")

Appointment of Mr Tony Lowrie as Senior Independent Non-Executive Director

Petra Diamonds Limited announces the appointment of Mr Anthony ("Tony") Carmel Lowrie as the Senior Independent Non-Executive Director of the Company with immediate effect. Mr Lowrie brings a wealth of relevant expertise to the Petra Board, having an association of over 35 years with the equities business and being currently a non-executive director of another FTSE 250 mining company.

Biography

Mr Lowrie was a partner with Hoare Govett, London from 1976 until 1986 when it was sold to Security Pacific. He then became a member of the main Board of Security Pacific Hoare Govett for a period from 1986 to 1991.

He led a management buyout of Asian Equities in 1991 and became Chairman of HG Asia Securities in 1991. He held this position until HG Asia Securities was sold to ABN AMRO Bank in 1996 at which point he assumed the role of Chairman for ABN AMRO Asia Securities until 2004. He was formerly also a Managing Director of ABN AMRO Bank.

Mr Lowrie has been a Non-Executive Director for several quoted Asian closed end funds. He has previously been a Non-Executive Director of Allied Gold Plc (prior to its merger with St Barbara Limited), Dragon Oil plc and J. D. Wetherspoon plc.

Mr Lowrie is currently a Non-Executive Director of Kenmare Resources plc and a Director of the Edinburgh Dragon Fund.

The Petra Board

Mr Lowrie's appointment to the Petra Board addresses a key requirement of corporate governance best practice. As the Senior Independent Non-Executive Director, he will provide a sounding board for the Chairman and serve as an intermediary for the other Directors as necessary. He will also be available to shareholders as and when appropriate. Mr Lowrie will also be a member of the Company's Audit, Remuneration and Nomination Committees.

The Company's Board now consists of eight members, comprising three Executive Directors (Mr Johan Dippenaar, Mr David Abery and Mr Jim Davidson), three independent Non-Executive Directors (Mr Lowrie, Dr Patrick Bartlett and Mr Gordon Hamilton), one Non-Executive Director (Dr Omar Kamal, who is not considered independent as he represents a 13.3% shareholder in the Company) and Mr Adonis Pouroulis as Non-Executive Chairman.

Adonis Pouroulis, Chairman of Petra, commented:

"We are delighted to welcome Tony Lowrie to the Board. Tony's broad experience in the equities business further strengthens and diversifies the expertise of the Petra Board and makes him ideally suited to the role of Senior Independent Non-Executive Director. He is highly regarded in the UK financial market, as well as in Asia, which is the key region driving emerging consumer demand in the diamond market."

Please see the Appendix for disclosures to be made pursuant to paragraph 9.6.13R(1)-(6) of the Listing Rules.

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About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has a well-diversified portfolio, with interests in eight producing mines: seven in South Africa (Finsch, Cullinan, Koffiefontein, Kimberley Underground, Helam, Sedibeng and Star) and one in Tanzania (Williamson). It also maintains a highly focused exploration programme in Botswana.

The Company has recently commenced a disposal process in respect of the Helam, Sedibeng and Star mines (the Fissure Mines), which are no longer core to the Group's portfolio.

Petra offers an exceptional growth profile, with a core objective to steadily increase annual production to 5 million carats by FY 2019. The Group has a major resource base in excess of 300 million carats.

Petra conducts all its operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a member of the FTSE 250.

For more information, visit the Company's website at www.petradiamonds.com 

Appendix

Full Name: Mr Anthony Carmel Lowrie, aged 70

Mr Lowrie holds, or has held, the following directorships in the last five years:

Current Directorships

Edinburgh Dragon Fund

Kenmare Resources plc

Previous Directorships

Allied Gold Mining Plc

Quadrise Fuels International

There are no further disclosures to be made pursuant to paragraph 9.6.13R(1)-(6) of the Listing Rules.