TORONTO, July 18 /CNW/ - Tahera Diamond Corporation (TSX-TAH) ("Tahera" or the "Company").

As previously announced, the Company provides its bi-weekly report under the alternative information guidelines recommended by Ontario Securities Commission ("OSC") Policy 57-603 and Canadian Securities Administrators Staff Notice 57-301.

On July 18, 2008, the Ontario Superior Court of Justice issued an order whereby an amount of $2,000,000 was set aside into a trust account for the benefit of certain parties who are lien claimants under the Miners Lien Act in effect in the Northwest Territories and Nunavut in connection with goods and services provided to Tahera prior to January 16, 2008.

There has been no other new developments to report since Tahera's press release of July 4, 2008.

Tahera Diamond Corporation

R. Peter Gillin - Chairman and CEO

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