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AWDC board elections underway

June 17, 2008

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Antwerp, Belgium—Elections are underway in Belgium to elect six representatives to the 12-person board of directors of the Antwerp World Diamond Centre (AWDC).

Members of the diamond community in the Belgian city of Antwerp are heading to the polls today and Wednesday. Results will be announced late Wednesday, according to the AWDC.

The votes are divided among Antwerp's diamond companies according to average turnover. Two directors are elected by diamond companies with an average turnover of about $155 million or more; two by diamond companies with an average turnover between $155 million-$47 million; and two by diamond companies with an average turnover between $47 million-$776,000.

All diamond-dealing companies registered with the Federal Government Services, Economy—more than 1,800 total—are entitled to vote in their category.

The other six members of the 12-person board are selected by other means. Three are representatives of the bourses and are chosen by bourse members, two represent the industry and one is the choice of an independent director.

The AWDC is the official representative of the Belgian diamond sector, managing the relationship between the sector and the government and promoting the interests of the industry worldwide.
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