African Diamonds - The Stock of 2004

"We are hopeful of other discoveries, in particular kimberlite AK8 has potential.
A great deal of work including Large Diameter Drilling has been done to
estimate size, carats and value. One lobe of this pipe, about 2.5 hectares in
size is, as previously reported, estimated to have a grade and value which may
have commercial possibilities. This is of particular interest to African
Diamonds as the joint venture agreement with De Beers specifies that small mines
will be operated by African Diamonds who, as a result, would keep 70% of the
profits. De Beers would buy all of the diamonds. We will discuss options with
De Beers."