(New York, NY) – March 13, 2007 – The World Diamond Council (WDC) is pleased to announce that it’s fifth annual meeting will be held at the David Citadel Hotel on May 9 and 10th in Jerusalem, Israel hosted by the Israeli Diamond Industry. The annual meeting is a time where government, non-government and industry leaders come together in an open forum to discuss the issues at had surrounding the eradication of the flow of conflict diamonds.

This year, the key note address will be from Gareth Penny, the Managing Director of the De Beers Group. “I am delighted to have the opportunity to go back to Israel to be amongst so many friends and colleagues. I salute all the participants of the Kimberley Process, including the World Diamond Council, industry and NGOs, in reducing conflict diamonds to less than one per cent of world rough diamond production” said Penny. “The Kimberley Process is the diamond industry’s primary safeguard and gives consumers assurance that their diamonds are conflict free. The WDC meeting presents an opportunity to further build on the successes to date and the strong commitment of the 71 countries in the Kimberley Process to work with industry and participating NGOs to eliminate the very last traces of conflict diamonds. ”

“Since our inception in 2000, the WDC has been working with the leaders of our industry to stop the flow of conflict diamonds through the implementation of the Kimberley Process and System of Warranties. The WDC continues to be at the forefront of this vital issue by continuing to work with our government and non-government partners to stop this evil trade” said Eli Izhakoff, Chairman of the World Diamond Council. “It is our hope that by gathering all interested parties at this forum we will be able to take great strides to make conflict diamonds a thing of the past.”

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About World Diamond Council

Amid growing concern over human rights violations and atrocities committed against innocent victims in diamond producing countries of war-torn central and western Africa, the World Federation of Diamond Bourses and the International Diamond Manufacturers Association passed a resolution at their Antwerp meeting in July 2000, creating the World Diamond Council.

The resolution called for the newly formed WDC to include representation from the diamond industry itself and also from among countries where diamonds play a major economic role and from the international banking sector. The ultimate mandate for the World Diamond Council is the development, implementation and oversight of a tracking system for the export and import of rough diamonds to prevent the exploitation of diamonds for illicit purposes such as war and inhumane acts.

The World Diamond Council represents over 50 industry organizations — from mining companies and trade associations to manufacturers and retailers — worldwide. Member organizations include: ABN Amro Bank International Division; Alrosa Company; American Gem Society; Antwerpse Diamantbank; Ascorp; Association of Diamond Manufacturers of Russia; Belgian Federation of Diamond Bourses; BHP Diamonds & Industrial Metals; Canadian Diamond Consultants Inc.; Cartier; Centre for Expertise, Valuation and Certification (Democratic Republic of Congo); CIBJO; Codiam; Damas; De Beers; De Beers LV; Debswana Diamond Co.; Diamond Chamber of Russia; Diamond Dealers Club New York; Diamond Federation of Hong Kong; Diamond Manufacturers and Importers Association; Diamond Trading Company; Dubai Metals and Commodities Center; EGL USA; Eurostar Diamonds Ltd.; Gem and Jewelry Export and Promotion; Harry Winston, Inc.; International Diamond Manufacturers Association; International Gemological Institute; Israel Diamond Exchange; Israel Diamond Institute; Israel Diamond Manufacturers Association; Jewelers of America; Jewelers Vigilance Committee; Leviev Group of Companies; London Diamond Bourse; Manufacturing Jewelers and Suppliers of America; Ministry of Mines (Namibia); Namdeb Diamond Corporation; Rapaport Corporation; Rio Tinto Diamonds; Rosy Blue; Shanghai Diamond Exchange Co. Ltd.; South African Diamond Board; Signet Group PLC; Tacy Diamond Consultants; The Dubai Multi Commodities Centre; Tiffany & Co.; Union Bank of Israel; United Association of South Africa; World Federation of Diamond Bourses; Zale Corporation.