MOSCOW, RUSSIA: NOVEMBER 13, 2006 – Leaders of the international diamond and jewelry industries will gather in the Russian capital on December 14, when the Moscow Diamond Bourse (MDB) will formally celebrate its acceptance last June as a full member of the World Federation of Diamond Bourses (WFDB).

At 32nd World Diamond Congress in Tel Aviv in June 2006, the WFDB General Assembly unanimously accepted its application to become the Federation’s 26th member organization.

“The gathering in Moscow will afford us the opportunity to thank the leadership of the industry for the support that they afforded us in obtaining WFDB membership” said Lev Polyakov, the MDB president. “It also will enable us what we believe is our bourse’s primary mission—and that is to provide a trading platform for the developing diamond and jewelry sector in Russia and the other countries of the Commonwealth of Independent States (CIS). The region is home to a population of more than 360 million, representing a future market of tremendous potential. It is our aim is to help realize that potential.”

The proceedings will begin on December 13th and will be attended by leaders of the Russian and international diamond and jewelry sectors, members of the Russian government and parliament, representatives of the diplomatic corps in Moscow, and the media. It will be followed by a luncheon, and then by an official visit to the Moscow Diamond Bourse.

On the morning of Thursday, December 14, an open house will be held at the bourse, where guests will be able to meet with representatives of the diamond and jewelry trades from across Russia and the CIS. MDB membership, which currently stands at more than 40, has more than doubled since the beginning of the year, and today counts members from Russia, the Ukraine, Belarus and Latvia. In the evening there will be a Gala dinner, at which a number of Russian and international industry leaders will be honored.

Among the industry leaders who have already confirmed their participation there are: Ernest Blom (President, WFDB), Gaetano Cavalieri (President, CIBJO), Eli Izhakoff (Chairman, WDC), Avi Paz (Vice-President, WFDB).