RNS Number:6586M
Firestone Diamonds PLC
6 November 2001

6 November, 2001





                            Firestone Diamonds plc

Firestone Diamonds plc ("the Company") today announces a placing with
institutional investors of 3,790,000 new ordinary shares of 20 pence each in
the Company (the "New Ordinary Shares") at a price of 60 pence per share.  The
placing will be carried out by Bell Lawrie White, the Company's broker, and
will raise approximately #2.3 million before expenses.

The proceeds of the placing will be used to accelerate the pace of exploration
at the Mopipi project in Botswana and to undertake initial exploration in the
new Mopipi East licence area; to finance the development of the recently
discovered high grade Sandberg deposit at the Oena Mine in South Africa; to
continue to develop the Company's portfolio of exploration and development
projects in South Africa; and for general working capital purposes.

Philip Kenny, CEO of Firestone Diamonds, commented today: "Most of the
exploration and development work at Mopipi and Oena to date has been funded by
cash generated by our mining operations.   This placing will give us the
ability to significantly increase the pace of work at Mopipi and Oena and to
identify and exploit the potential of these projects more rapidly, and will
also strengthen the Company's overall financial position."

The New Ordinary Shares will rank pari passu in all respects with the
Company's existing issued ordinary shares.  Application will be made for the
New Ordinary Shares to be admitted to trading on the Alternative Investment
Market of the London Stock Exchange, and it is expected that dealings will
commence on 15th November 2001.

For further information:

Philip Kenny, Firestone Diamonds                  020 7370 6452 / 07831 324 645
Laurence Read, Golin Harris Ludgate               020 7216 4512 / 0797 995 5923
Jamie Cumming, Bell Lawrie White                  0141 314 8103 / 0776 8044 620


Website: www.firestonediamonds.com
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