May-Sept. Sales Exceed $3M for European Diamonds

RAPAPORT… European Diamonds Plc reported that diamond sales from the company`s majority ownership of Liqhobong Mining Development Company came to $3.4 million during the May 5 to September 21 period.

European Diamonds sold 66,883 carats from its Liqhobong Diamond Mine in Lesotho through sales agent BHP Billiton.

The sales total from March 2006 through September therefore came to $9.12 million.

Tim Read, the company`s executive chairman, said, "We are pleased with the sales revenues achieved in the four sales held during this period, which represents a blend of stones from the Satellite and Main pipes and all parcels offered for sale during this period have been sold. To date we have sold over 154,000 carats in Antwerp, at an average price of over $59 per carat. Our regular sales in Antwerp are establishing strong interest from buyers."