February 3, 2003

News Release: Starts Mining with Second Vessel to Increase Diamond Production on Luderitz Blue Bay Project

Mr. Jean-Raymond Boulle, Chairman and CEO of Diamond Fields International, is pleased to announce that DFI has engaged a second contract mining vessel which has arrived in the Luderitz Blue Bay Project area.

The Lady S mining vessel, which is contracted from Gemfarm, is equipped with a single 24-inch airlift mining system with pebble jetting and a 50 tons per hour Dense Media Separation plant. The Lady S has started mining and is augmenting the production already flowing from the mining vessel Anya. DFI's Director of Operations, Roger Daniel, commented 'We are pleased with the production characteristics and capability of the 24-inch airlift systems and we are looking forward to a significant increase from the combined production levels from the 2 mining vessels. The additional 95% gem quality diamond production from the Lady S, in conjunction with that already coming from the Anya, will have a very positive effect on cash flow and profitability.'

DIAMOND FIELDS INTERNATIONAL LTD.

Jean-Raymond Boulle

Chairman and Chief Executive Officer

Forward-Looking Statements:

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Diamond Fields'periodic filings with Canadian

Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Diamond Fields does not assume the obligation to update any forward-looking statement.

CONTACT: TEL: (214) 219-1439 Earl Young

Website: www.diamondfields.com

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