Tahera Diamond Corporation provides update

    TORONTO, July 18 /CNW/ - Tahera Diamond Corporation (TSX-TAH) ("Tahera"
or the "Company").
    As previously announced, the Company provides its bi-weekly report under
the alternative information guidelines recommended by Ontario Securities
Commission ("OSC") Policy 57-603 and Canadian Securities Administrators Staff
Notice 57-301.
    On July 18, 2008, the Ontario Superior Court of Justice issued an order
whereby an amount of $2,000,000 was set aside into a trust account for the
benefit of certain parties who are lien claimants under the Miners Lien Act in
effect in the Northwest Territories and Nunavut in connection with goods and
services provided to Tahera prior to January 16, 2008.
    There has been no other new developments to report since Tahera's press
release of July 4, 2008.

    Tahera Diamond Corporation

    R. Peter Gillin - Chairman and CEO

    %SEDAR: 00003313E

For further information:

For further information: Investor Relations, Tel: (416) 777-1998, Fax:
(416) 777-1898, Toll free: (877) 777-2004, Email:
investor_relations@tahera.com, Website: www.tahera.com

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