RNS Number:2324S
Firestone Diamonds PLC
05 October 2005


                             Firestone Diamonds plc

                Acquisition of interest in African Diamonds plc


5 October 2005


Firestone Diamonds plc ("Firestone Diamonds" or the "Company") today announces
that it has entered into an agreement to acquire a total of 4,879,220 ordinary
shares in African Diamonds plc ("African Diamonds"), representing approximately
7.28% of the issued share capital of African Diamonds.


The shares in African Diamonds are being acquired in exchange for new ordinary
shares in Firestone Diamonds, on the basis of one new ordinary share in
Firestone Diamonds for each 2.6 ordinary shares in African Diamonds.  On 4
October 2005, the respective closing mid-market prices for Firestone Diamonds
and African Diamonds were 146p and 54p, respectively, giving a relative ratio of
2.7.


The Company regards the acquisition as a strategic investment and does not
intend to make an offer for African Diamonds.


For further information:


Philip Kenny, Firestone Diamonds                     +44 20 8834 1028 / +44 7831 324 645


Leesa Peters, Conduit PR                             +44 20 7618 8760 / +44 7812 159 885


Jamie Cumming, Bell Lawrie                           +44 141 314 8103 / +44 7768 044 620



Website: www.firestonediamonds.com


Background information:


Firestone Diamonds plc is an international diamond mining and exploration
company with operations in the Namaqualand region of South Africa, Botswana and
the United States.


Firestone has extensive interests in Botswana, which is the world's largest
producer of diamonds, with annual production of approximately 30 million carats
worth over $2.5 billion.  Botswana is considered to be one of the best countries
in the world to explore for kimberlite - the primary source rock for diamonds.
Firestone's Mopipi, Orapa and Jwaneng projects are located close to the major
Orapa and Jwaneng mines and are all being explored by De Beers in joint venture
with Firestone.  Firestone is also exploring for kimberlite in the US on the
Laurentia craton, which extends into Canada, where it hosts a number of
diamondiferous kimberlite deposits.


Namaqualand, which is located on the west coast of South Africa, has been one of
the world's largest alluvial diamond producing regions for the past 60 years,
with total production to date estimated to be worth more than $3 billion.
Firestone's mining operations in Namaqualand include the Bonte Koe, Avontuur and
Oena Mines, all of which produce high quality alluvial diamonds, and a growing
portfolio of early stage and advanced exploration projects, of which the Groen
River Valley project is the most important.


Firestone has a highly qualified management team with extensive experience in
the exploration, evaluation and development of diamond projects. Firestone is
quoted on the Alternative Investment Market (AIM) of the London Stock Exchange
and trades under the symbol FDI.L.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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