Dear Grizzly Diamonds Shareholders,

In our ongoing efforts to provide broader communications and market information, we are pleased to provide you with Industry Sector Bulletins discussing current market opinions and/or conditions that affect the price, supply, and demand for Diamonds.

The following two articles describe how Diamond Circle Capital intends to launch an initial public offering (IPO), which "is being called the first 'diamond fund' on the London Stock Exchange." Diamond Circle hopes to raise $400 million in the initial IPO so as to "build a portfolio of large, high-quality white and coloured polished diamonds."

Enter Grizzly Diamonds Ltd., an exploration company focused on finding diamonds in Alberta. Recently, the Company signed a contract with DeBeers Canada to process the Legend Kimberlite mini-bulk sample at its Grande Prairie Dense Media Separation (DMS) processing facility. On June 4, 2007 Grizzly Diamonds announced that DeBeers Canada had completed processing the Legend Kimberlite mini-bulk sample.

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For Further Information about Grizzly Diamonds Ltd. please feel free to click the following link to visit the Company's Investor Relations Hub.

GRIZZLY IR HUBRegards,
AGORACOM Investor Relations

According to industry reports, Diamond Circle Capital plc, a closed-ended investment company, is planning to launch an initial public offering on London Stock Exchange's main market on July 10th.

As per reports, this is to build a portfolio of large, high-quality white and coloured polished diamonds.

The IPO is expected to raise approximately $400 million with a minimum investment of around $1 million per individual stone. The minimum offer size is $150 million. Investment manager Diapason Commodities Management S.A. will be responsible for the day-to-day management of the diamond portfolio and other assets.

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RAPAPORT... In what is being called the first 'diamond fund' on the London Stock Exchange, Diamond Circle Capital PLC hopes to raise $400 million in its initial public offering (IPO.) Diamond Circle Capital plans to build a portfolio of diamonds with a minimum investment of $1 million per stone.

Diamond Circle Capital will create a portfolio of polished goods, including white and rare colored stones, and wait for prices to increase. A date for the IPO is set for July 10, 2007.