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HRD chooses new name, independent director

October 20, 2006

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Antwerp, Belgium—As the HRD Antwerp High Diamond Council continues a restructuring process it began earlier this year, it announced a new name, Antwerp World Diamond Centre (AWDC), and named Theo Dilissen as its independent director.

Dilissen, currently chief executive officer at Avia Partner, will be assisted by six people chosen directly from the diamond trade, three representatives from diamond-exchange markets, one member from the industry itself and one delegate from employee organizations.

In a statement, Managing Director Freddy Hanard explained the reason for the name change:

"Through this name, Antwerp World Diamond Centre seeks to acquire a clearer profile in the diamond trade and especially the world outside, putting the emphasis on Antwerp as a world diamond center," he said.

The newly christened AWDC is the umbrella organization for Antwerp's diamond industry. Commercial operations will continue under the name NV HRD Antwerp, with restructuring expected to be complete early next year.
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