23 July 2007
AIM RELEASE

KIMBERLEY DIAMOND COMPANY NL (the Company) (AIM: KDC)

The Company hereby advises that it has received:

1. a notice of ceasing to be a substantial holder from Nicolas Mathys who has
disposed of his 5.92 percent holding in the Company, being 25,327,000 ordinary
fully paid shares at $0.70 per share and has accordingly ceased to be a
substantial holder in the Company; and

2. a notice of initial substantial holder from Gem Diamonds Limited and its
associated companies, having acquired 64,037,000 ordinary fully paid shares for
a total cash consideration of $44,825,900 and representing 14.96 percent of the
Company's issued capital.

J Mathie
COMPANY SECRETARY

The Company's Nominated Advisor is RFC Corporate Finance Ltd, contact Steve
Allen or Stuart Laing - phone +618 9480 2500.

KIMBERLEY DIAMOND COMPANY NL ABN 91 061 899 634
12 WALKER AVENUE WEST PERTH 6005 WESTERN AUSTRALIA PO BOX 806 WEST PERTH
WESTERN AUSTRALIA 6872
TEL (+61-8) 9321 5887 FAX (+61-8) 9321 5884 EMAIL general@kimres.com.au WWW www.kimberleydiamondco.com.au

END
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