Pala announces sale of Rockwell shares

    TORONTO, June 23 /CNW/ - Pala Investments Holdings Limited ("Pala")
announced today that Mr. Gregory Radke, Pala's representative on the board of
directors of Rockwell Diamonds Inc. ("Rockwell"), resigned as a director of
Rockwell effective June 18, 2009.
    Pala also announced that it has sold 6,500,000 common shares of Rockwell,
representing approximately 2.7% of the total number of common shares of
Rockwell currently issued and outstanding, as known by Pala.
    Pala's total ownership of securities of Rockwell on completion of the
disposition is 40,966,900 common shares, representing approximately 17.2% of
the total number of common shares of Rockwell currently issued and
outstanding, as known by Pala.
    Pala is located at 12 Castle Street, St Helier, Jersey JE2 3RT. The sale
of shares took place through the facilities of the Toronto Stock Exchange.
Pala disposed of the shares for investment purposes. Pala may acquire or
dispose of any of its shares in Rockwell as market conditions warrant, but
subject to applicable regulatory restrictions.

    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
solutions. For more information, visit

    Certain statements in the press release are forward-looking statements
and are prospective in nature, including statements with respect to Pala's
future intentions regarding the common shares of Rockwell that it owns.
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. 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

For further information:

For further information: Colin Murray, Pala Investments AG,

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