Harry Winston Announces Closing of the Previously Announced Strategic Investment by Kinross

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Howard Hldg Asd	LSE:HWD	London	Ordinary Share	QQ0031849458	ORD 10P (ASSD RUSHBROOK CASH)

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Howard Hldg Asd

LSE:HWD

London

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QQ0031849458

ORD 10P (ASSD RUSHBROOK CASH)

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Harry Winston Announces Closing of the Previously Announced Strategic Investment by Kinross

31/03/2009 9:30pm

PR Newswire (US)

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TORONTO, March 31 /PRNewswire-FirstCall/ -- Harry Winston Diamond Corporation (TSX-HW; NYSE-HWD) ("Harry Winston") is pleased to announce the closing of the US$150 million strategic investment by Kinross Gold Corporation (TSX-K; NYSE-KGC) ("Kinross") that was announced on March 19, 2009. Kinross has subscribed to 15.2 million treasury shares from Harry Winston at a price of US$3.00 per share, being approximately 19.9% of the company's issued equity post the transaction. In addition, Kinross has subscribed for new partnership units representing a 22.5% interest in the limited partnership which holds Harry Winston's 40% joint venture interest in the Diavik Diamond Mine, for a net effective subscription value of US$104.4 million. As part of the transaction Mr. Thomas M. Boehlert, Executive Vice President & Chief Financial Officer of Kinross, has been invited to join the Harry Winston Board of Directors. Harry Winston Diamond Corporation (TSX: HW; NYSE:HWD) will release its Fiscal 2009 Fourth Quarter and Year-End results for the period ended January 31, 2009, after market hours on Thursday, April 2, 2009. The Company will host a conference call for analysts, investors and other interested parties on Friday, April 3, 2009 at 9:00AM (ET), followed by a question-and-answer session. To access the call, please dial: North America: 800-510-0146; passcode 37236627 International: 617-614-3449; passcode 37236627 You may also access the conference call on a listen-only basis at: http://investor.harrywinston.com/ A telephone replay of the call will be available one hour after the call until 11:00PM (ET), April 16, 2009. To access the call replay, please dial: North America: 1-888-286-8010; passcode 73080790 International: 1-617-801-6888; passcode 73080790 You may also access a replay of the call at: http://investor.harrywinston.com/ About Harry Winston Diamond Corporation Harry Winston Diamond Corporation (TSX: HW; NYSE: HWD) is a specialist diamond enterprise with assets in the mining and retail segments of the diamond industry. The company supplies rough diamonds to the global market from its 40% interest in the Diavik Diamond Mine, located in Canada's Northwest Territories. The company's retail division, Harry Winston Inc., is a premier jewelry and timepiece retailer with salons in key locations including New York, Paris, London, Beijing, Tokyo and Beverly Hills. For further information: http://www.harrywinston.com/ or for investor information, visit http://investor.harrywinston.com/ DATASOURCE: Harry Winston Diamond Corporation CONTACT: Investor Relations, (416) 362-2237 ext 290 or

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