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<div id="_mcePaste"><strong>PRESS RELEASE, August 30, 2010, Mumbai:</strong> Martin Rapaport addressed the issue of human rights and the diamond industry in a keynote address on August 25, 2010 at the Taj Mahal Hotel in Mumbai, India. Rapaport emphasized the need for the diamond and jewelry industry to establish realistic sourcing standards based on sustainable legal and ethical principles. He defined the Rapaport Minimum Standard for human rights as follows.</div>
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<div id="_mcePaste">The Rapaport Minimum Standard:</div>
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<div id="_mcePaste">“All diamonds that are legal and not directly involved in severe human rights violations should be freely, fairly and legally traded.”</div>
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<div id="_mcePaste">Note: the phrase “directly involved in severe human rights violations” is defined as diamonds whose physical production involved murder, rape, physical violence or forced servitude.”</div>
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<div id="_mcePaste">The full text of presentation is attached to this press release.</div>
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<div id="_mcePaste">Rapaport discussed the situation regarding Marange diamonds. While Kimberley Process certified Marange diamonds are legal in India and many other countries, there was no assurance that they were free of human rights violations. Furthermore, KP certified Marange diamonds are not legal for purchase by U.S. and E.U. entities due to sanctions against their suppliers.</div>
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<div id="_mcePaste">While RapNet - The Rapaport Diamond Trading Network will not allow members to list KP certified Marange diamonds for sale due to sanctions issues the network will not ban members who legally trade such KP certified diamonds off the network as long as the diamonds are not involved in severe human rights violations. Rapaport emphasized that sellers are responsible for ensuring the diamonds they offer for sale are not involved in severe human rights abuses and that if it can be shown that any seller knowingly offers such diamonds for sale on RapNet or elsewhere, with KP certification or not, the seller will be expelled from RapNet and named.</div>
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<div id="_mcePaste">Rapaport also communicated requirements for the legitimization of Marange diamonds:</div>
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<div id="_mcePaste">   1. Eliminate human rights violations.</div>
<div id="_mcePaste">   2. Allow independent non-government organizations and representatives of the diamond trade free uncontrolled access to monitor the elimination of such violations.</div>
<div id="_mcePaste">   3. Sell the diamonds through entities that are not on U.S. or E.U. sanctions lists.</div>
<div id="_mcePaste">   4. Assure that the revenues from the diamond sales are distributed legally and in a way that reasonably and fairly benefits the people of Zimbabwe. </div>
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<div id="_mcePaste">The presentation concluded on a note of good will between the Rapaport Group and the Indian diamond industry.</div>
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<div id="_mcePaste">“India now has the ability to spend many tens of millions of dollars in Zimbabwe. Imagine how that money could benefit the people of Zimbabwe if it is channeled responsibly. What a great opportunity India has to create good karma, to help Zimbabwe, to create ethical products and fair trade jewelry.</div>
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<div id="_mcePaste">I believe in India and I believe in the goodness of its diamond people. And I believe that when all is said and done India’s diamond community will use their purchasing power to greatly benefit the people of Zimbabwe. With India’s help and responsible actions, I pray that Marange diamonds can and will be a blessing for the people of Zimbabwe and the people of India,” said Martin Rapaport, Chairman of the Rapaport Group.</div>
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<div id="_mcePaste">The full text of Martin Rapaport’s presentation “Human Rights and the Diamond Industry” is attached to this release and may be used for publication. The speech can also be found online at <a href="http://www.diamonds.net/News/NewsItem.aspx?ArticleID=32337" target="_blank">http://www.diamonds.net/News/NewsItem.aspx?ArticleID=32337</a>. </div>
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