Rapaport Press Release

November 6, 2008, New York
-RapNet, the Rapaport Diamond Trading Network, is pleased to present our new upgraded RapNet Price List. The new RapNet Price List provides the best and average asking prices for specific categories of diamonds offered for sale by the diamond trade on RapNet. Prices are presented in hundreds of dollars per carat and as percentages below the traditional Rapaport Price List. Prices are based on RapNet TradeScreen™ asking prices at midnight for Rapaport Specification 2 (RapSpec-2) or better diamonds graded by the GIA, AGS or HRD. The RapNet TradeScreen presents identical and additional real time price information on a 24/7 basis.

The RapNet Price List is distributed exclusively to members of Rapaport’s RapNet Diamond Trading Network. It differs significantly from the traditional Rapaport Price List which provides the diamond industry with a price guideline based on Rapaport’s opinion of high cash asking prices. The RapNet Price List is not based on opinion, but is solely based on actual diamond trade asking prices as presented on RapNet. As such, it changes in real time and may be much more volatile.

Rapaport’s RapNet is the largest diamond trading network in the world with daily listings of over $4 billion and 450,000 laboratory graded diamonds. RapNet offers a full range of clearing house services including guaranteed diamond transactions, shipping, financial, quality control and laboratory certification services. For additional information visit www.Rap.Net, email info@Rap.Net or contact one of the Rapaport offices listed below.

New York: +1-212-354-9800   Antwerp: +32-3-232-3300        Ramat Gan: +972-3-613-3330
Mumbai: +91-22-6637-6633    Hong Kong: +852-2805-2620   Shanghai: +86-135017-78251

Media contact: Leah Geffen: +972-54-3974-764; Sherri Hendricks+1-702-893-9400

About RapNet: RapNet is the world’s largest diamond trading network with daily diamond listings of over 450,000 diamonds valued at over $4 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.Rap.Net.

About the Rapaport Group: TThe 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. Additional 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 www.diamonds.net.

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