Acquisition

RNS Number:0050S
African Diamonds PLC
13 November 2003



13th November 2003



               African Diamonds acquires Lesotho diamond project


         Data indicates significant gem quality diamonds over 2 carats



African Diamonds plc ("AFD") is delighted to announce a new joint venture with
Angel Diamonds Limited of Lesotho, to evaluate and exploit the diamond potential
of the Kolo kimberlite group.  AFD will retain a 55% stake in the venture.


The Kolo Pipe 66 kimberlite is approximately 1.1 Hectare and is exposed at the
surface.  The kimberlite was confirmed to be diamond bearing through a United
Nations Development Programme in 1980.



Kolo kimberlite output includes a significant proportion of gem quality diamonds
over 2 carats, for which there is strong demand within the market.  The
kimberlite pipe has already produced diamonds which have realised excellent
prices; several have sold for over US$1,000 per carat and one single stone of
over 17 carats was sold for US$126,000.



Data show a grade of 16 carats per hundred tonnes of kimberlite ore. The largest
diamond recovered was 138-carat boart quality stone.



AFD will conduct an evaluation programme to confirm grade and optimise diamond
production.  A kimberlite processing and diamond recovery plant is on site.  It
was not operating for some years due to the operator's financial difficulties;
AFD expects completion by mid 2004.



In addition to the Kolo Pipe 66 kimberlite, the group has 4 additional
kimberlite pipes, a blow and 8 kimberlite dykes.  Artisanal mining on one of the
other pipes within the group confirmed that the kimberlite is diamond bearing.
These kimberlites will also be evaluated.







Chairman, John Teeling, said:



"Whilst our main focus still remains on Botswana and West Africa, from which we
expect drill results within a month, sometimes you encounter exceptional
opportunities that are too attractive to pass by. Lesotho has the highest
concentration of kimberlites worldwide but remains under-explored.



The Lesotho plant can be refurbished in 3 months. We aim to be producing
diamonds from this project in early 2004, in a trial mining venture to prove
commerciality. Our investment is to complete and refurbish the on site plant and
complete the evaluation. Total expense is likely to be under #150,000."


                               www.afdiamonds.com



Contacts:


African Diamonds Plc
John Teeling                                         Tel: [phone]
Leon Daniels                                         Tel: [phone]

Redleaf Communications
Nick Lambert                                          Tel: [phone]






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