SOURCE: Global Diamond Exchange (Formerly WWCD)

October 10, 2006 09:30 ET

Global Diamond Exchange Unveils Corporate Website

NEW YORK, NY -- (MARKET WIRE) -- October 10, 2006 -- Global Diamond Exchange (PINKSHEETS: GBDX) is pleased to announce that it has completed the construction of their brand new website and can now be viewed by visiting www.globaldiamondex.com. The site offers comprehensive information about the company and the Russian mining industry.

This is just the latest development for Global Diamond Exchange since the merger occurred last month and the company became publicly traded. Furthermore, the company is right on schedule with its store opening and first shipment of diamonds. As mentioned in a press release dated September 26, 2006, the company will re-establish a presence in New York and will be selling its fine cut quality diamonds just in time for the lucrative holiday season. Both events are scheduled to occur the first week of November.

About Global Diamond Exchange:

Global Diamond Exchange originally opened their office on 2 West 46th Street in the heart of '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 Russia 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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