SouthernEra Board Extends Separation Time Under Shareholder Rights Plan



    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/

    Shares issued and outstanding: 166,232,179
    TSX: SDM-T
    AIM: SRE-L

    TORONTO and LONDON, March 29 /CNW/ - SouthernEra Diamonds Inc.
("SouthernEra" or "the Company") (TSX: SDM-T; AIM: SRE-L) today announced that
its board of directors has determined to extend the separation time for
distribution of rights to shareholders pursuant to its Shareholder Rights Plan
to April 30, 2007 or such earlier date as the board may determine. This
decision was made in relation to the recent announcement by Mwana Africa Plc
("Mwana") (AIM: MWA-L) of their intention to make an offer (the "Mwana
Proposal") to acquire all of the shares of SouthernEra in exchange for shares
of Mwana and the ongoing review of the Mwana Proposal and strategic
alternatives open to SouthernEra.

    SouthernEra Diamonds is one of Canada's fully integrated diamond
companies with extensive alluvial and kimberlite diamond exploration in the
DRC as well as other countries including Canada and South Africa. The Company
also holds the Klipspringer Diamond Mine in South Africa and maintains an
18 percent free-carried interest in the Camafuca Diamond Project in Angola.




For further information:

For further information: SouthernEra Diamonds Inc., Mr. Chris Reynolds,
SVP and CFO, Telephone: (416) 359-9282, Fax: (416) 359-9141, E-mail:
inbox@southernera.com, www.southernera.com; London: 4C-Burvale, Carina
Corbett, Director, Telephone: +44 (0) 20 7559 6710, Fax: +44 (0) 20 7559 6701,
Email: Corbett@4c-burvale.co.uk

Organization Profile

SOUTHERNERA DIAMONDS INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890