Ramat Gan, September 17, 2007 : The {{Israel Diamond Institute}} (IDI) announced that it will hold its third “International Rough Diamond Conference: Tribute to the Producers” on February 11-12, 2008 in Tel Aviv. A key event on next year’s calendar of the international diamond industry, the conference will bring a host of ministers of African diamond countries to Israel where they will share the podium with the world’s leading diamond producers. %% “Greater efficiencies in the diamond value chain have prompted more diamond producers to market their rough diamonds through {{Tel Aviv}}. Producers have found that they can optimize revenue and enhance values by working directly with the manufacturers of gem-quality diamonds,” said IDI Chairman- {{Moti Ganz}}.

“{{Rio Tinto}} and {{Alrosa}} have been holding tenders in {{Tel Aviv}} while {{Diamdel}}, reversing a previous decision, has now reiterated its commitment to keep an active trading office in {{Tel Aviv}},” stressed Ganz. “The stringent adherence by Israel to the Kimberley Process Rough Certification Scheme and the soon-to-be-adopted Israeli diamond industry-specific anti-money laundering legislation, which will be among the strictest in the industry, are contributing to the producers’ confidence in Israel as a preferred manufacturing and trading centre,” added the industry leader. %% Ganz said that the presence of Israel’s Prime Minister and the nation’s senior economic ministers at the Rough Diamond Conference will underscore the close relationship between industry and government, which has made Israel’s environment attractive for the diamond industry and trade. $$ {{Eli Avidar}}, IDI Managing Director, said that Israel has been importing approximately US$5 billion worth of rough diamonds per year in recent years, and that in 2007 rough imports have jumped 20 per cent over the previous year. “Israel’s state-of-the-art technology is sustaining our competitive advantage in the manufacturing of the high-end goods, for which the market remains particularly strong. This Conference is aimed at bringing the producers closer to the Israeli market and industry.” %% {{Exciting Social Program Too :}} $$ Avidar said that he would release more details about the 2008 “Rough Diamond Conference and the accompanying social program shortly.. In the best tradition of Israeli conferences, the program will promise an exciting mix of serious business with excellent entertainment,” disclosed Avidar.