MONTHLY ANNOUNCEMENT ON ISSUED SHARES

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02 Apr 2007

Voting Rights and Capital

In conformity with the Transparency Directive's transitional provision 6 we would like to notify the market of the following:

Gem's capital consists of 61,965,209 ordinary shares with voting rights. Gem does not hold any ordinary shares in Treasury.

Therefore, the total number of voting rights in Gem is 61,965,209

The above figure (61,965,209) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Gem under the FSA's Disclosure and Transparency Rules

Enquires:
Gem Diamonds Ltd

André Confavreux, Company Secretary
Tel: 020 3043 0280