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Press Release: EGL Laboratories Eurogem (Israel) Ltd. denies claims that it is prohibited from issuing EGL certificates, as claimed earlier this week by the European Gemological Laboratory. The following is the response from the lab, also known as EGL International: "We wish to clarify, unequivocally, that the notice is deceitful as it attempts, by entirely improper means, to harm our operations and cause us damage. We stress that our company has a long-term franchise agreement with EGL International to issue certificates under its name up until the year 2020, with an option to extend the agreement for 10 more years. This is a valid agreement which has never been nullified and continues to obligate both parties to the agreement in its entirety. "Our company is authorized, without restrictions, conditions or prohibitions, to issue certificates under the name of EGL, as it has done for the past 22 years. Our company has met and continues to meet all the financial and professional franchise terms and conditions and continues to provide a reliable and professional service for its many customers. Any claim to the contrary is, to say the least, inaccurate. "We totally condemn threats made to our customers. It is unfathomable that members of the Israel Diamond Exchange (IDE), or groups connected with them, should take advantage of channels of information and communication between bourse members in order to threaten our customers for their lawful use of the EGL certificates that we produce. These groups, which attempt to harass us incessantly, have failed in all their attempts up until now and have not managed to provide a robust basis for their claims against us, despite resorting to all means of harming our operations. "Hence, these groups are now attempting to cause damage to our long-term connections with clients by the use of threats and legal liability. Needless to say, in spite of their extreme claims, these same groups have not turned to any legal institute, in the IDE or in the court system, in order to prove their claims, as their demand for dismantling our company that is mentioned in their notice is without basis and was also submitted as part of their attempts to damage us. "Our laboratory will continue to provide an efficient, reliable, dedicated and professional service to all members of the diamond bourse in spite of all the attempts to impede our operations and harm us."
EGL Laboratories Eurogem (Israel) Ltd.
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