Global Diamond Exchange, Inc. (GBDX)

[Picassa]

Global Diamond Exchange (PINKSHEETS: GBDX) is pleased to announce the details of a joint venture partner. The partner, who will increase Global's allotment of rough, cut and polished diamonds, is "Diamond Certificate" -- a Russian joint stock company.

Diamond Certificate consists of and is owned by several groups including -- Smolensk Brilliants Association -- A union of 8 diamond cutting facilities in Smolensk; The Smolensk Government Facility "Crystal" -- The largest Diamond cutting facility in the Russian Federation employing over 4000 diamond cutters; The Sheremetyevo Insurance company, part of the Russian Federation; Olympus -- which is a variety of private and corporate entities that control the world's largest diamond mine; one of the largest banks in Russia, the Mezvynarodnij Aktsonirnij Bank, from Moscow, also part of the Russian Federation; and a private individual with over twenty-five years of diamond experience dating back to the 1980s.

Under the terms of the agreement, Global Diamond Exchange will provide the marketing, sales, and office locations. Diamond Certificate will provide acquisition of rough diamonds, supervision of the cutting and polishing, the exporting of the finished or rough product and/or the purchase of finished goods, along with the custom exports.