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									                                           PRESS RELEASE

FOR IMMEDIATE RELEASE                                                                         CONTACT
July 12, 2004                                                                           Ya’akov Almor
                                                                                Tel: +972-52-352-2685
                                                                  E-mail: almor@mdirect-business.com

CIBJO president pays first working visit
to Israeli diamond, gem and jewellery industry

Gaetano Cavalieri, the president of CIBJO, The World Jewellery Confederation, paid his first working
visit to Israel in late June, as a guest of the country’s Ministry of Trade, Industry and Labour. During his
stay, he met with government officials and leaders of the diamond, coloured gemstones and jewellery
sector, which together account for close to one-third of Israel’s non-military exports.

Before commencing his official Israeli visit, the CIBJO president joined a delegation of jewellery and
gemstone industry leaders to Namibia, organised by Israeli diamantaire Lev Leviev. There, they
attended the opening of the largest diamond plant in Africa by Leviev, who also is a producer of rough
diamonds in the south-west African country. That opening was attended by the president of Namibia,
Sam Njomo.

During a press conference held at the conclusion of his visit to Israel, Cavalieri thanked his hosts for
their hospitality, and in particular Udi Sheintal, the Diamond Controller at the Ministry of Trade,
Industry and Labour, and his deputy Arie Lev. The CIBJO president emphasized his organization’s
commitment to maintaining consumer confidence in jewellery and gemstones. “Because we deal in
luxury goods, our members have become favoured targets for a number of activist groups… We cannot
afford any damage to the reputation and integrity of the products we sell, because then consumers
may spend their disposable income elsewhere,” he said. “I am pleased to be able to report that the
industry in Israel shares our concerns and is actively working with us to achieve our common goals.”

Cavalieri also paid tribute to Leviev’s contribution to the Namibian economy. “Our industry has been
criticized in the past for being indifferent to the suffering in countries where rough diamonds are found.
It is the commitment of individuals like Mr. Leviev who show that this is not the case,” he stated.

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