Israel Diamond Exchange to mark 70 years

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Israel Diamond Exchange to mark 70 years

November 19, 2008

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Ramat Gan, Israel--The Israel Diamond Exchange (IDE) will mark its 70th anniversary with a special event scheduled for Nov. 23 in Tel Aviv, Israel.

Thousands of diamantaires from Israel and all over the world are expected to attend, and the list of special guests includes Israel Minster of Industry, Trade and Labor Eli Ishai, Alrosa Vice President Sergey Ulin, World Diamond Council Chairman Eli Izhakoff and Diamond Trading Co. (DTC) Managing Director Varda Shine.

The IDE will grant honorary IDE membership to Shine, marking the first time in history this membership is granted to a woman.

IDE President Avi Paz said Shine is a true pioneer in the diamond industry.

"Varda is without a doubt one of the most important figures in the global industry today," he said. "She brings honor to the Israel Diamond Exchange and to the State of Israel."

The event will celebrate the role of the IDE in the development of the world diamond industry and its contribution to the development of the State of Israel.

The evening also will include a screening of a never-before-seen movie on the history of the IDE and appearances by popular Israeli entertainers.

Paz, who is also president of the World Federation of Diamond Bourses, said the exchange is one of the central pillars of the Israeli economy.

"In the current economic climate, it is even more important to review and extol our accomplishments over the past 70 years. I am very pleased that leaders of the world diamond industry will join us for this event," he said.

Moti Ganz, chairman of the Israel Diamond Institute and president of the Israel Diamond Manufacturers Association, also noted that now is an excellent time to pay tribute to the strength of the Israeli diamond industry and to look toward the future.

"We salute the Israel Diamond Exchange and all of its members for their contribution to the State of Israel and the global diamond industry," he said.

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