19 October 2009

                        Karelian Diamond Resources plc                         

                ("Karelian Diamond Resources" or "the Company")                

                             NOMAD Change of Name                              

The Company announces that its nominated adviser and broker, John East &
Partners Limited has changed its name to Merchant John East Securities Limited
with immediate effect, as part of a group reorganisation which is scheduled to
complete on 1 November 2009.

Further Information:

Professor Richard Conroy, Chairman Karelian Diamond                      Tel: +
Resources plc                                                    353-1-661-8958
                                                                               
Charles Dampney, City Capital Corporation Limited                        Tel: +
                                                                44-20-3178-3399
                                                                               
Simon Clements/Jeffrey Coburn/Virginia Bull, Merchant John               Tel: +
East Securities Limited                                         44-20-7628-2200
                                                                               
Ron Marshman/Michael Padley, Lothbury Financial                          Tel: +
                                                                44-20-7011-9411
                                                                               
Don Hall, Hall Communications                                            Tel: +
                                                                 353-1-660-9377

http://www.kareliandiamondresources.com