Subject: TAHERA CORPORATION & LAZARE KAPLAN TO ENTER INTO COMPREHENSIVE OFF-TAKE AND INVESTMENT AGREEMENT FOR TAHERA'S JERICHO DIAMOND PROJECT
From: "Adele Fridman" <[email-masked]>
Date: Mon, 10 Mar 2003 09:59:11 -0500

PRESS RELEASE
TAHERA CORPORATION

(TSX: TAH)

TAHERA CORPORATION & LAZARE KAPLAN TO ENTER INTO COMPREHENSIVE OFF-TAKE
AND INVESTMENT AGREEMENT FOR TAHERA'S JERICHO DIAMOND PROJECT

TAHERA RETAINS OPTION TO ENTER INTO MARKETING AND POLISHING AGREEMENTS
WITH LAZARE KAPLAN FOR ITS JERICHO DIAMOND PROJECT

March 10, 2003 - In a major development for the Company, Tahera
Corporation (TSX: TAH) announced today that it has signed a Letter of
Intent (LOI) with Lazare Kaplan International Inc. (AMEX: LKI), one of
world's premier diamond companies, providing for the parties to enter
into a comprehensive Off-Take and Investment Agreement for Tahera's
Jericho Diamond Project. Under the terms of the proposed Off-Take
Agreement, Lazare Kaplan will purchase 100% of the production from
Tahera's Jericho Diamond Project, subject to Tahera's option to market
up to 25% of the mine's diamond production independently.

Concurrent with the execution of definitive agreements, Lazare Kaplan
will receive warrants entitling it to purchase US$4 Million of common
shares of Tahera at a price of Cdn. $0.22 per share.  The warrants will
have a maturity of one year from the closing of the Jericho Diamond
Project financing.  Based upon the current issued and outstanding common
shares of Tahera, exercise of the warrants by Lazare Kaplan and the
resulting investment of US$4 Million would result in Lazare Kaplan
owning approximately 10% of Tahera's outstanding common shares.  The
investment by Lazare Kaplan of up to US$4 Million is subject to Tahera
securing the balance of funding for development and operation of its
Jericho Diamond Project.

Marketing and Polishing Agreement
For the duration of the Jericho Diamond Project, Tahera will have the
right to convert the Off-Take Agreement with Lazare Kaplan to a
rough-diamond marketing agreement.  In addition, Tahera will have the
right to participate in a joint venture with Lazare Kaplan as equal
partners for the polishing of diamonds produced by the project,
including special stones.  These agreements will allow Tahera to
maximize revenue from its diamond production.

Following its investment, Lazare Kaplan will have certain rights to
designate one member to Tahera's Board of Directors.  Lazare Kaplan will
also have the right to participate in Tahera's other diamond projects
under the same terms and conditions as set forth in the LOI.

The parties will endeavor to finalize definitive documentation by July
2003.  Completion of the transaction contemplated in the LOI is subject
to entering into definitive agreements and Tahera obtaining all
requisite approvals, including the approval of the Toronto Stock
Exchange, and satisfactory completion of due diligence by Lazare Kaplan.

Mr. Joseph I. Gutnick, CEO of Tahera Corporation stated, "We are
extremely pleased with the opportunity to have a partner of the caliber
of Lazare Kaplan International.  Lazare Kaplan's reputation in the
diamond industry is unsurpassed.  We look forward to many years of
partnering and prosperity with Lazare Kaplan".

Lazare Kaplan International Inc. (www.lazarediamonds.com) sells its
diamond and diamond jewelry products through a worldwide distribution
network. The Company is renowned for its "ideal-cut" diamonds, which it
markets internationally under the brand name Lazare Diamonds®.

The Jericho Diamond Project
Tahera is pursuing development of its wholly-owned Jericho Diamond
Project as CANADA'S NEXT, and NUNAVUT'S FIRST, DIAMOND MINE. The
Environmental Impact Statement for the Project was completed in January
2003. Tahera's goal is to complete the regulatory approval process for
development of the Project during 2003.

The Jericho Diamond Project feasibility study, completed by SRK
Consulting, considered the economics of constructing a diamond mining
operation centered on the land-based Jericho kimberlite pipe. The
feasibility study indicates that 3,000,000 carats will be produced over
a minimum mine-life of 8-years. The Project shows excellent economics
with a base case IRR of 34.3%, with an upside to increase reserves.

During the Jericho Diamond Mine development phase, Tahera will continue
to explore for additional kimberlites on the Jericho Claims. Previous
exploration activities indicate that the claims have high potential for
further kimberlite discoveries.

Michael J. Michaud of SRK Consulting is Tahera's qualified person for
its exploration programs.

About Tahera Corporation

Tahera Corporation (www.tahera.com) is a unique Canadian diamond Company
in that it has a positive feasibility study completed on an advanced
stage diamond project. Tahera is focused on developing its wholly-owned
Jericho Diamond Project as CANADA'S NEXT, and NUNAVUT'S FIRST, DIAMOND
MINE. Tahera has several other prospective diamond projects in Canada's
prolific Slave Craton, including the Rockinghorse Property joint
venture, where the significantly diamondiferous Anuri kimberlite occurs.
The common shares of the Company trade on the Toronto Stock Exchange
under the symbol 'TAH'.

For further information:

Tahera Corporation
Grant Ewing - Vice President, Investor Relations & Corporate Development
Tel:  (416) 777-1998
Fax: (416) 777-1898
Toll free: (877) 777-2004
Email: [email-masked]
 
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