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RonnieD

04/03/07 12:41 PM

#317 RE: starfire #316

NEW YORK, Feb. 21 /PRNewswire-FirstCall/ -- Global Diamond Exchange Inc. (OTC: GBDX) is pleased to announce that due to recent decrees from the Russian government, the existing ceiling on the company's rough exports has been lifted. This new decree allows Global to export rough stones with or with out polishing and cutting, as well as opening up tremendous opportunities for additional business.

The original export ceiling for rough stones for Global Diamond purchases was a ratio of 15% rough to 85% cut and polished. The company was restricted on the amount of rough stones it could export. The new decree enables the company to purchase and export rough stones for cutting anywhere it desires and not be limited to a 15% quota. Global acknowledges that the Russian cutters are among the best in the world and will continue to use local cutters when ever possible. However, the new decree gives the company greater flexibility to match the demands of its customers without consideration to scheduling and availability of the local cutters.