Scheme of Arrangement Cease ASX Trading

    Level 1, 130 Hay Street

                                                          Subiaco East, WA 6008

                                              PO Box 8035, Subiaco East WA 6008

                                                     Telephone: +61-8-6380 2855

Facsimile: +61-8-63801644

                                                 E-mail: elkedra@elkedra.com.au

                                                   Web Site: www.elkedra.com.au

8 November 2007

Alternative Investment Market

London UK

Dear Sir/Madam,

SCHEME OF ARRANGEMENT - CEASE ASX TRADING

Elkedra Diamonds NL (Elkedra) ASX and AIM: EDN) advise that it has today lodged
with ASIC an office copy of the Court order approving the scheme of arrangement
between the company and its shareholders pursuant to which shareholders will
receive 0.52 shares in Vaaldiam Resources Limited for each of their shares in
Elkedra Diamonds NL.

In accordance with the terms of the scheme and section 411(10) of the
Corporations Act 2001, the scheme becomes binding on all shareholders with
effect from today and ASX quotation of Elkedra Diamonds NL shares will cease
immediately.

For and on behalf of the Board


Max Cozijn

Company Secretary//Director


S40-01-01 081107 Scheme of Arrangment.doc



END

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