Petra Diamonds Limited

("Petra" or the "Company")

Director Share Grants

Petra Diamonds Limited announces the grant on 26 November 2014 of performance based share awards under the Company's 2012 Performance Share Plan ("2012 PSP").

The awards made are as follows, with full vesting of the maximum award requiring performance conditions to be met in full, and performance to be measured over the period 1 July 2014 to 30 June 2017:

Further details of the awards made on 26 November 2014 under the 2012 PSP will be provided in the Directors' Remuneration Report within the Company's 2015 Annual Report.

The Company also announces that on 26 November 2014 the vesting and delivery was approved of shares granted on 15 May 2012 under the 2012 PSP in respect of the period 1 July 2011 to 30 July 2014. The number of vested shares is set out below.  The vesting level was disclosed in the Company's Directors' Remuneration Report within the Company's 2014 Annual Report. The shares have been issued and will be sold in the market, with the cash proceeds to be delivered to participants.

Notes:

1.   The awards made on 26 November 2014 under the 2012 PSP, for which vesting will be based on performance measured over the period 1 July 2014 to 30 June 2017, are subject to performance conditions based on (i) absolute total shareholder return (25%); (ii) relative total shareholder return against mining and diamond industry peers (25%); and (iii) targets linked to delivery of the expansion programmes at the Company's various operations and operational performance (together 50%).

2.   All awards under the 2012 PSP are granted as conditional awards over ordinary shares in Petra of 10p each. 

3.   No consideration was payable for the grant of the awards.

4.   In accordance with the plan rules for the 2012 PSP, awards may be settled in cash or shares at the Company's discretion.

5.   The grant of share awards does not affect Petra's Total Voting Rights until some or all of the awards vest and the underlying shares are issued; the shares vested and delivered on 26 November effect Petra's Total Voting Rights as above and an updated Total Rights announcement will be made at the end of November.

6.   This announcement is made under the UKLA's Disclosure and Transparency Rule 3.1.2R.

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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 interests in five producing mines: four in South Africa (Finsch, Cullinan, Koffiefontein and Kimberley Underground) and one in Tanzania (Williamson). It also maintains an exploration programme in Botswana.

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 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 constituent of the FTSE 250 Index.

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