November 04, 2008 Rockwell Announces Withdrawal of Pala Bid
November 4, 2008, Vancouver, B.C. -- Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) announces that the unsolicited offer made by Pala Investments Holdings Ltd ("Pala") to acquire all of the outstanding shares of Rockwell for $0.36 per share ("the Offer") has been withdrawn.
Pala announced in Canada on November 3, 2008 that it had withdrawn and was not proceeding with the Offer. The reason given by Pala for its withdrawal was that it had determined that a number of the conditions to the Offer were incapable of being satisfied prior to the expiry date and had therefore withdrawn the bid at this time in order to provide Rockwell shareholders with certainty as to the status of the Offer. No further information has been furnished to the Rockwell board to explain this withdrawal of the Offer.
For further details on Rockwell Diamonds Inc., please visit the Company's website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
President and CEO
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