BDY Brazilian

RNS Number:8849Q
Brazilian Diamonds Limited
27 March 2008



                           BRAZILIAN DIAMONDS LIMITED

                         PLACING TO RAISE �1.3 MILLION

The Directors of Brazilian Diamonds Limited ("Brazilian Diamonds" or the "
Company") are pleased to announce the placing of 25,957,000 new common shares of
no par value each in the Company (the "New Shares"), conditional upon admission
to trading on AIM and the Toronto Stock Exchange ("TSX") (the "Placing").  The
Placing will raise Cdn. $2,595,700 (approximately �1.3 million) (before the
expenses of the issue).

This Placing will provide the Company with ongoing working capital and assist
the Company in the continuation of bulk sampling operations at the Salvador 1
project in Bahia State, Brazil.

The New Shares subscribed for under the Placing have been placed with investors
at a price of Cdn. 10 cents (approximately 5p) per share by the Company with
assistance from Williams de Broe Ltd in a non-brokered private placement.  A
total commission of four per cent. of the gross proceeds will be paid in
connection with the Placing.

Application will be made for the New Shares to be admitted to trading on AIM.
It is expected that admission will take place on 28 March 2008.  The New Shares
are restricted from transfer for a period of four months expiring on 27 July
2008.  Following the Placing there will be 194,370,722 shares in issue.

Certain statements included herein constitute "forward-looking statements"
within the meaning of applicable Canadian securities legislation.  These
forward-looking statements are based on certain assumptions by Brazilian
Diamonds and as such are not a guarantee of future performance.  Actual results
could differ materially from those expressed or implied in such forward-looking
statements due to factors such as general economic and market conditions,
increased costs of exploration and unforeseen logistical issues.  Brazilian
Diamonds is under no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by applicable laws.



For further information, please contact:


Brazilian Diamonds Limited
Ken Judge, Chairman                                            + 44 7733 001 002
Stephen Fabian, President & CEO                                + 55 31 8814 5111

Hanson Westhouse Limited (Nomad to the Company)                + 44 113 246 2610
Tim Feather/Matthew Johnson

Landsbanki Securities (UK) Limited (Broker to the Company)     + 44 207 426 9000
Tom Hulme





                      This information is provided by RNS
            The company news service from the London Stock Exchange
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