NOTIFICATION OF INTERIM MANAGEMENT STATEMENT

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25 Oct 2010

Gem Diamonds Limited (LSE: GEMD) announces that it intends to release its Interim Management Statement for the period from 1 January 2010 to 30 September 2010 at 7am on Thursday 28th October 2010.

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, Media
Tel: +27 (0) 11 560 9618
Mob: +27 (0) 83 943 4505

Pelham Bell Pottinger

Charles Vivian / James MacFarlane
Tel: +44 (0) 207 337 1500

About Gem Diamonds:

Gem Diamonds Limited (LSE: GEMD) is a global diamond company that has been pursuing a long term growth strategy through targeted acquisitions and the development of its existing assets.

The Company's portfolio comprises producing kimberlite and lamproite mines and development projects, as well as proprietary diamond cutting technology. Operations and projects are situated in Angola, Australia, Botswana, and Lesotho.

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