Director's Purchase of Shares

29 December 2014

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Director's Purchase of Shares

Gem Diamonds, LSE: GEMD announces that it was notified on 24th December 2014 by Mr Gavin Beevers, a non-Executive Director of the Company, that he had purchased 14,800 shares in Gem Diamonds at a price of 169 pence per share.

His holding of ordinary shares in the Company is now 159,964 shares, representing approximately 0.11% of the Company's issued share capital.

For further information:

Gem Diamonds Limited

Andre Confavreux, Company Secretary

Tel: +44 203 043 0280