Petra Diamonds announces that its 507-carat white diamond has been named the “Cullinan Heritage.” The spectacular diamond has been named in honor of the date of its recovery – September 24, 2009 – which is Heritage Day in South Africa. The name also reflects the magnificent gem's origin, as it was found at the Cullinan diamond mine, which has produced the majority of the world’s most famous and important diamonds.

Petra intends on placing the Cullinan Heritage Diamond on tender in Johannesburg. The Company will announce the sales value achieved for the rare diamond following completion of the bidding process, at the end of February.

The Cullinan Heritage Diamond, which has exceptional color and clarity, is one of the top 20 largest high quality rough diamonds ever discovered.

A company statement quoted Johan Dippenaar, Petra’s CEO, as saying: “The Cullinan Heritage is not only exquisitely beautiful, but also of true historical importance. Since we announced the recovery of the diamond in September 2009, we have experienced a high level of interest from the trade and we look forward to announcing the results of the sale before the end of the month.”

Petra Diamonds is a one of the world's leading rough diamonds' producers and the world’s largest independent diamond groups by resources, with a gross resource base of 262 million carats.