Director/PDMR Shareholding

28 Oct 2008 07:00



28th October, 2008

GEM DIAMONDS LIMITED

("Gem Diamonds") or ("the Company")

Director's Dealing of Shares

Gem Diamonds, LSE: GEMD, the FTSE 250 listed diamond producer, announces that it was notified by Mr Alan Ashworth, a Director and Chief Operations Officer of the Company, that he purchased 10,000 ordinary shares at an average price of 236.33 pence per share for a total consideration of £23,834.74 on the 27th October, 2008.  His holding of ordinary shares in the Company is now 10,000 shares, representing approximately 0.02% of the Company's issued shared capital.

For further information:

Gem Diamonds Limited

Andre Confavreux

Tel: +44 203 043 0280

Pelham PR

Candice Sgroi

Tel: +44207 7436376