SOURCE: Global Diamond Exchange

January 24, 2007 10:09 ET

Global Diamond Exchange: Second Shipment Sold Out, Third Order Placed

NEW YORK, NY -- (MARKET WIRE) -- January 24, 2007 -- Global Diamond Exchange (PINKSHEETS: GBDX) is pleased to announce that it has completely sold out the second shipment of diamonds that it received earlier this month. The value of this sale was roughly $1.4 million value and was sold to the same group that purchased the first order. The group has asked not be identified at this time but will continue to purchase fine quality stones from Global Diamond Exchange. Furthermore, the company would like to announce that a third order has been placed and is expected to arrive in New York for grading and sale at the end of February, or early March. The company is working hard at not only increasing the size of the orders but also the frequency of them as well.

Also, final renovations are being completed at 2 West 46th Street, the company's wholesale office. Building Management has hired contractors to repair the damage that was left behind by the previous tenant which includes fixing the entrance door and installing security cameras, safes, and various other things that were left in disrepair. The work should be completed in the next few weeks and Global will then assume their rightful place on the seventh floor of that building.

About Global Diamond Exchange:

Global Diamond Exchange originally opened their office on 2 West 46th Street in the heart of the 'New York's Diamond District.' After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russian Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds.

NOTE: Safe Harbor for Forward-Looking Statements.

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.

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