XLD Xceldiam

RNS Number:2868Q
Xceldiam Limited
17 March 2008



                                Xceldiam Limited

                         ("Xceldiam" or the "Company")

                           Confirmation of Suspension


The directors of the Company note the recent movement in Xceldiam's share price.

The directors acknowledge that, in accordance with AIM Rule 15 and the AIM Rules
relating to Investing Companies, Xceldiam's shares were due to be suspended from
trading on AIM at 7am on 20 March 2008 (the date being twelve months from the
date of the Extraordinary General Meeting at which shareholders approved a
disposal of all the key assets of the Company to Petra Diamonds Limited) as the
Company had failed to make an acquisition that amounted to a reverse takeover
under the AIM Rules or make an investment in line with its investment strategy
by that date.

However, Xceldiam confirms today that it is currently in talks with a third
party with a view to an acquisition. If completed, this acquisition would amount
to a reverse takeover under the AIM Rules and it is the directors' current
intention to complete the transaction, and the associated re-admission of the
enlarged entity to trading on AIM, before the six month deadline expires.
However, there can, at this stage, be no guarantee that the proposed transaction
will complete or that the deadline will be achieved.

As a consequence of this announcement, trading in the Company's shares will be
suspended effective from 4pm, 17 March 2008.

The Company now has a further six months in which to make an acquisition or
acquisitions which constitute a reverse takeover under the AIM Rules or
otherwise implement its Investing Strategy (as announced to the market on 2
March 2007), otherwise the Company's admission to AIM will be cancelled.

Further updates will be provided by the Company in due course.

For further information contact:

Xceldiam Limited                                     Tel: +27 83 253 5539 4199
Mark Summers

WH Ireland Limited                                   Tel: +44 161 832 2174
David Youngman/Katy Mitchell


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