NOTICE OF HALF YEAR RESULTS

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16 Aug 2011

Gem Diamonds (LSE: GEMD) will announce its half year results for the period ending 30th June, 2011, on Friday, 19th August 2011 at 07.00 BST.

An analyst telephone conference call will be held on Friday, 19th August 2011, at 11.00 BST. A live webcast of the presentation to analysts will also be available on the Company's website (www.gemdiamonds.com).

For further information:
Gem Diamonds Limited

Clifford Elphick, Chief Executive Officer
Glenn Turner, Chief Commercial and Legal Officer
Tel: +44 (0) 203 043 0280

Richard Chetwode, Investor Relations
Tel: +44 (0) 203 043 0280
Mob: +44 (0) 759 0064 883

Gem Diamond Technical Services (Pty) Ltd

Sherryn Tedder, Corporate Affairs
Tel: +27 (0) 11 560 9600
Mob: +27 (0) 83 943 4505

Pelham Bell Pottinger

Charles Vivian
Tel: +44 (0) 207 861 3126
Mob: +44 (0) 7977 297 903

James MacFarlane
Tel: +44 (0) 207 861 3864
Mob: +44 (0) 7841 672 831

About Gem Diamonds

Gem Diamonds is a global diamond mining company that is pursuing a long term growth strategy through the development of its existing assets and targeted acquisitions. Under the depressed market conditions of late 2008 and early 2009, the Company focused its strategy on developing its cash generating assets and curtailing all non-essential capital and development expenditure. Following the steady improvement in the diamond market during 2010, the Company has completed the development of a growth strategy designed to take advantage of these improving conditions.

The Company's portfolio comprises producing kimberlite and lamproite mines in Lesotho and Australia, as well as a mine development project Botswana.

With Letšeng's production of the world's most remarkable white diamonds and Ellendale's production of rare fancy yellow diamonds, Gem Diamonds remains focused on higher value diamonds. This segment of the market is expected to deliver attractive long term returns.