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Global Diamond Grading Stones, Set to Open Office

2006-11-08 11:19 CT - News Release

NEW YORK, NY -- (MARKET WIRE) -- 11/08/06

Global Diamond Exchange (PINKSHEETS: GBDX) is pleased to announce that its first diamond shipment has arrived in New York. The finished stones are currently being grade certified and sales will commence as soon as the process is completed. The company anticipates that everything should be completed by Monday, November 13th. Furthermore, company buyers are scheduled to depart overseas next week to begin purchasing parcels of rough to cut for the next shipment.

Also, in response to a very large number of shareholder queries, the company is currently updating its corporate web site to include management, officers, and directors. Additionally, Global is in the process of hiring an audit firm with international accreditation and multilingual capabilities to schedule and complete the audit process both domestically and internationally. This will provide the base to be current and compliant under the new Pink Sheets standards and/or application to another exchange.

About Global Diamond Exchange:

Global Diamond Exchange originally opened their office on 2 West 46th street in the heart of the 'New York's Diamond District.' After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russia Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds.

NOTE: Safe Harbor for Forward-Looking Statements.

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.

Contact:
Alex Livak
347-813-4664
Email: [e-mail]