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Rapaport to address diamond commoditization, Internet trading

November 14, 2007

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Hong Kong—Martin Rapaport will address diamond commoditization and the impact of the Internet on the diamond trade in a presentation on Nov. 21 at the Hong Kong Diamond Bourse.

The presentation will include details of Rapaport's plan to commoditize diamonds and enable the creation of diamond derivatives through the establishment of transparent transaction prices for one carat and larger diamonds. The transformational role of global business-to-business Internet markets and the impact of business-to-consumer Internet retailing on profit margins will also be discussed.

"Surging oil and gold prices, the plummeting U.S. dollar and the globalization of jewelry demand will have a profound impact on diamond prices," Rapaport Group Chairman Martin Rapaport said in a statement. "The Internet is creating a global marketplace for certified diamonds with unprecedented price transparency that challenges traditional profit margins. The commoditization of diamonds and creation of diamond derivatives is an inevitable development that will link the global diamond and financial sectors, creating unprecedented opportunity for Hong Kong."

The lecture is open to the diamond trade, the financial community and general media. It will be held at 3 p.m. at the Diamond Federation of Hong Kong, China Ltd., 8-10 Duddell St., Ste. 5B, HK Exchange Building, Central Hong Kong.

RSVP to Ofira Gutman-Berrebi at (852) 9222-7001, ofira@diamonds.net.
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