Diamonds.net - Rapaport Launches RapNet Chinese Diamond Trading Network

August 5, 2008, New York— The RapNet Diamond Trading Network is pleased to announce the August 8, 2008, launch of http://www.RapNet.cn/ -the first multi-lingual Chinese and English diamond trading network. RapNet China is the first diamond trading network to provide Chinese buyers with direct access to the global diamond markets and give foreign suppliers direct access to Chinese buyers. This innovate step sets a new standard for diamond traders in the Far East who will now be able to deal directly with each other without any commission, advancing both the local Chinese market and the global marketplace. The RapNet professional trading community has over 3,800 members with daily diamond listings of over 425,000 diamonds valued at more than $3.2 billion.

RapNet in coordination with Rapaport Diamond [Shanghai] Limited will provide a full range of support, fulfillment, shipping and clearing house services including guaranteed diamond transactions for RapNet members wishing to sell into the Chinese market. A broad range of Chinese language support, information and news services will also be provided. Rapaport Shanghai is a member of the Shanghai Diamond Exchange since 2006 and is licensed to do business in China.

RapNet COO, Saville Stern said, “We are pleased to offer China’s jewelry industry the same high quality diamond trading network we bring to diamantaires throughout the world. This is an exciting new venture that will integrate China into the global diamond markets. It will give RapNet members exciting new opportunities to create new relationships and to expand their activities. We are excited to be opening the Chinese diamond market to the world.”

Contact: China: Julius Zheng, julius.zheng@diamonds.net (+86-135-0177-8251)
Hong Kong: Ofira Gutman-Berrebi. Ofira@diamonds.net (+852-9-222-7001)
USA: Sherri Hendricks, Sherri.Hendricks@diamonds.net (+1702 893 9400)

About RapNet: RapNet is the world’s largest diamond trading network with daily diamond listings of over 425,000 diamonds valued at over $3.2 billion. RapNet is an exclusive professional trading community with sophisticated search engines that gives buyers and suppliers direct access to hundreds of thousands of diamonds in over 70 countries. Its members include the most important and powerful diamond dealers in the world. For further information, please visit www.RapNet.cn

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality-control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at http://www.diamonds.net/.