London 14 July 2005:

Following a meeting with the {{World Federation of Diamond Bourses (WFDB)}}, the {{Diamond Trading Company (DTC)}} today announced its intention to increase sales to Diamdel to a record amount of up to $550m in 2005.%%The announcement resulted from positive discussions at a meeting in London today between a delegation from the WFDB and senior representatives of the DTC (including Gareth Penny, Managing Director, Stephen Lussier, Marketing Director and Varda Shine, Sales Director). The WFDB and the DTC also reached agreement on the following points;

{[The DTC recognised the tremendous contribution made by WFDB members in driving consumer demand for diamond jewellery and suggested that there would be benefit to members aligning their marketing campaigns alongside the generic DTC-run campaigns. To this end, the WFDB agreed to facilitate presentations from the DTC to members of the various bourses about the forthcoming Christmas marketing campaigns and consumer confidence updates.][The DTC readily acknowledged the leading role played by the WFDB in supporting the diamond industry and agreed to work together with them on appropriate industry initiatives.][The DTC committed to provide delegates to participate in a joint committee for the development and implementation of the WFDB Mark]}

In addition to this, the WFDB pronounced its support of the new partnership between Diamdel and DJM Institute which will promote and enhance expert entrepreneurial and business practice within the developing secondary industry.%%Varda Shine commented on the meeting: "This has been a particularly positive meeting. The unity of purpose shown by all parties in the meeting lead to frank, wide ranging and forward looking discussions. We are pleased to be working with the WFDB to help address many of their concerns. We believe that the actions agreed today will be of benefit to the entire diamond industry."%%Shmuel Schnitzer, President of WFDB commented: "The WFDB represents 15,000 members from all over the world at all levels of the diamond industry, and we have aims in common with the DTC in driving the success of this industry for the benefit of all. Furthermore, we recognise that DTC, through its marketing and consumer confidence activities, provides real value to this industry, unmatched by other participants."