Minority Directors of Rockwell Desperately attempt to distract

    TORONTO, June 11 /CNW/ - Pala Investments Holdings Limited ("Pala")
dismissed today's announcement by the Minority Directors relating to a highly
conditional "financing" for Rockwell Diamonds Inc. ("Rockwell", TSX: RDI, JSE:
    "The Minority Directors have failed to successfully organize a financing
over the past six months yet miraculously, on the eve of a pivotal
shareholders' meeting, they contrive a purported solution," stated Colin
Murray, Chief Operations Officer of Pala Investments AG, the exclusive advisor
to Pala. "Rockwell Shareholders cannot but see this for what it is, a
desperate attempt to draw attention away from the real issue facing Rockwell -
quality of leadership."
    Rockwell shareholders' meeting will be held June 17, 2009, in Vancouver,
British Columbia. Pala's Proxy Circular was distributed to shareholders on May
20, 2009, and is available on www.sedar.com. Pala recommends shareholders vote
in favour of all items on the BLUE proxy.

    About Pala

    Pala Investments Holdings Limited, based in Jersey, Channel Islands, is a
US$1.0 billion multi-strategy investment company with a particular focus on
mining and natural resource companies in both developed and emerging markets.
Pala Investments' exclusive investment advisor, Pala Investments AG, is a
Switzerland-based team with extensive experience within the mining and natural
resource sectors. Pala Investments seeks to assist companies in which it has
long-term shareholdings by providing strategic advice and innovative financing

    Certain statements in the press release are forward-looking statements
and are prospective in nature. Forward-looking statements are not based on
historical facts, but rather on current expectations and projections about
future events, and are therefore subject to risks and uncertainties which
could cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These statements
generally can be identified by the use of forward-looking words such as "may",
"should", "will", "could", "intend", "estimate", "plan", "anticipate",
"expect", "believe" or "continue", or the negative thereof or similar
variations. Such statements are qualified in their entirety by the inherent
risks and uncertainties surrounding future expectations. Important factors
that could cause actual results to differ materially from the expectations of
Pala include, among other things, general business and economic conditions
globally or in particular geographic regions in which Rockwell and its
subsidiaries conduct business, the inability to attract and retain qualified
employees, competition, regionally and internationally, changes in law,
disruptions in business operations due to reorganization activities, and
interest rate and foreign currency fluctuations. Such forward-looking
statements should therefore be construed in light of such factors, and Pala is
not under any obligation, and expressly disclaims any intention or obligation,
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

    Information concerning Rockwell contained in this press release has been
taken from, or is based upon, publicly available information and records on
file with Canadian securities regulatory authorities and other public sources.
Rockwell has not reviewed this press release and has not confirmed the
accuracy and completeness of the information in respect of Rockwell contained
herein. Although Pala has no knowledge that would indicate that any statements
contained herein concerning Rockwell taken from or based on such documents and
records are untrue or incomplete, neither Pala, nor any of its affiliates, nor
any of their respective directors or officers, assumes any responsibility for
the accuracy or completeness of such information or for any failure of
Rockwell or its directors or officers to disclose events or facts which may
have occurred or which may affect the significance or accuracy of any such
information but which are unknown to it.

For further information:

For further information: Colin Murray, Pala Investments AG,
+41-41-560-9070; Craig Rogers, Northern Securities, (416) 644-8187; Katie
Clark, Edelman Public Relations, (416) 979-1120 ext. No. 231

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