RAPAPORT...  Press Release: On October 22, 2009, a senior team from Extell Development Company, developer of the International Gem Tower (IGT) in Manhattan, arrived in London to present the project to 25 leading Lloyd's of London and European jewelry insurance underwriters. Hosted by the Fine Arts, Jewelry and Specie (FAJS) team of Willis London, the presentation provided an opportunity for the underwriters to learn how the new, 34-story trade center will provide an opportunity for them to offer clients preferred insurance rates that reflect the highly advanced security planned for the building.
 
After a detailed explanation of the tower's services and amenities, the underwriters participated in a lengthy follow-up Q&A session, during which key issues were discussed and valuable feedback was offered on many important features, including vault security and building access.The Willis FAJS team, together with Extell, will continue to foster a dialogue to maintain a free flow of ideas on security best practices and any new advances being introduced.
 
Raizy Haas, senior vice president at Extell, explained, "Our goal is to secure preferred insurance rates for companies who purchase units in the International Gem Tower and in our view, an open dialogue with the insurance industry about our security infrastructure and program is the best way to confirm that the International Gem Tower will be the premier diamond building in the U.S. in terms of location and security."
 
"It is very unusual for such an open dialogue to happen between developers and insurers before a building is complete — and for insurers to have input on vital issues such as security can only help the success of the project," noted Laurence Molloy, deputy managing director of Willis FAJS. "We welcome Extell's open approach to the development process and are confident that there will be tangible benefits for insurers and future tower unit owners.

Upcoming Sales Trips & Events

Joseph Lipton, IGT partner, and Jerry Buckley, director of global sales, will be in Antwerp from November 15 to 17 to attend the 2009 Antwerp Diamond Symposium and meet with industry leaders seeking more information about the benefits of owning an office in the IGT.  From Antwerp, Joe and Jerry will return to Israel from November 18 to 19 for additional meetings with trade association leaders and diamond companies. Meetings can be scheduled by phone at 1.760.213.3993, email at jbuckley-at-extelldev.com or via the web at www.internationalgemtower.com.

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