Rapaport to Address Diamond Commoditization and Internet Trading in Presentation to Hong Kong Diamond Industry

November 13, 2007, Hong Kong – Martin Rapaport will address the issue of diamond commoditization and the impact of the internet on the diamond trade in a special presentation on Wednesday, November 21, 3:00 P.M., at the Hong Kong Diamond Bourse.

The presentation will include details of Rapaport’s plan to commoditize diamonds and enable the creation of diamond derivatives through the establishment of transparent transaction prices for one carat and larger diamonds. The transformational role of B2B global internet markets and the impact of B2C internet retailing on profit margins will also be discussed.

“Surging oil and gold prices, the plummeting U.S. dollar, and globalization of jewelry demand will have a profound impact on diamond prices. The internet is creating a global marketplace for certified diamonds with unprecedented price transparency that challenges traditional profit margins. The commoditization of diamonds and creation of diamond derivatives is an inevitable development that will link the global diamond and financial sectors, creating unprecedented opportunity for Hong Kong,” said Martin Rapaport, Chairman of the Rapaport Group.

The lecture is open to the diamond trade, financial community and general media.

Date: Wednesday, November 21, 3:00 PM
Venue: Diamond Federation of Hong Kong, China Ltd,
                      8-10 Duddell Street, Suite 5B HK Exchange Building, Central Hong Kong

RSVP: Ofira Gutman-Berrebi, ofira@diamonds.net, +852-9222-7001

For additional information or media requests please contact Ofira Gutman-Berrebi.

The Rapaport Group
The Rapaport Group is an international network of companies committed to 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 for the diamond industry. Group activities include publishing, internet information and trading networks, rough and polished diamond trading services, international buying, quality-control and compliance services, shipping and financing services and research and marketing services. Additional information is available at www.diamonds.net.