October 6, 2008

Placing Announcement

The board of West African Diamonds (AIM: WAD), is pleased to announce a placing of 2,000,000 new ordinary shares at a price of 10p per share to third party investors. The £200,000 provides additional working capital for the Company.

The new ordinary shares will be issued under the terms of the Company’s existing authorities and application has been made for the new ordinary shares to be admitted to AIM. It is expected that dealings in the new ordinary shares will commence from 8 October 2008.

Enquiries:

West African Diamonds
John Teeling, Chairman +353 1 833 2833
James Campbell, Deputy Chairman +27 83 457 3724
Blue Oar Securities Plc (Nominated
Adviser and Broker)
John Wakefield
College Hill +44 (0) 20 7457 2020
Paddy Blewer +44 (0) 20 7457 2020
Nick Elwes +44 (0) 20 7457 2020