GEM DIAMONDS LIMITED SUBSIDIARY, GEM DIAMONDS AUSTRALIA PTY LIMITED, PUBLISHES BIDDER'S STATEMENT IN RELATION TO ITS OFFER FOR KIMBERLEY DIAMOND COMPANY NL

Back

17 Aug 2007

The information contained herein is restricted and is not for publication, release or distribution, directly or indirectly, in or into the United States, Canada or Japan or to residents or citizens of Canada or Japan.

Gem Diamonds Australia PTY Limited ('Gem Diamonds Australia'), a wholly owned subsidiary of Gem Diamonds Limited ('Gem Diamonds'), today published a Bidder?s Statement in relation to its offer (the 'Offer') for Kimberley Diamonds Company NL ('Kimberley') on the Australian Stock Exchange. The Bidder's Statement sets out the conditions and timetable to which the Offer is subject. It will be distributed to Kimberley shareholders along with Kimberley's Target Statement which outlines Kimberley's Directors' reasons for their unanimous recommendation that Kimberley shareholders accept the Offer.

Due to the transaction being classified as class 1 for Gem Diamonds under the UK Listing Rules, the Offer is subject to the approval of Gem Diamonds' shareholders in general meeting. In this regard a circular to Gem Diamonds' shareholders will be distributed in due course and the requisite Extraordinary Genral Meeting of Gem Diamonds shareholders to approve the Offer is expected to be convened in late October 2007.

A copy of the Bidder's Statement is available on Gem Diamond's website www.gemdiamonds.com.

Enquiries:
Gem Diamond Technical Services (Pty) Ltd

Stephen Wetherall
Tel: +27 82 418 8735
Angela Parr
Tel: +27 83 578 3885

Kimberley Diamond Company NL

Miles Kennedy
Karl Simich
Arran Gracie
Tel: +61 8 9321 5887

Pelham PR (Public Relations Adviser to Gem Diamonds Limited)

Candice Sgroi
Tel: +44 207 743 6376
Tel: +44 7894 462 114

Read Corporate (incorporating Jan Hope & Partners) (Public Relations Advisers to Kimberley Diamond Company NL)

Nicholas Read
Tel: +61 8 9388 1474
Tel: +61 419 929 046

Gresham Advisory Partners Limited (Financial Adviser to Gem Diamonds Limited)

Michael Ashforth
Tel: +61 8 9486 7077

JPMorgan Cazenove (Corporate Broker to Gem Diamonds Limited)

Ian Hannam / Neil Passmore
Tel: + 44 207 588 2828

Argonaut and CIBC World Markets (Joint Financial Advisers to Kimberley Diamond Company NL)

Charles Fear (Argonaut)
Tel: +61 8 9224 6888

Neil Johnson (CIBC World Markets)

Tel: +61 2 9275 1306