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Exelco confirmed as DTC sightholder for next contract period

Thursday, 9th June 2005
Source: Exelco, Antwerp
Exelco today announced its successful application to become a Diamond Trading Company (DTC) Sightholder for the 2005-2008 Supplier of Choice contract period. The news comes after the DTC confirmed the results of the 2005 application process and advised all applicants of their Sightholder status.

Commenting on the company's successful application, Lior Kunstler, Exelco, CEO said, "We are very enthusiastic about becoming a Sightholder. Securing a continuous, and consistent supply of rough from the DTC will facilitate the continued growth and expansion of our business". Jean Paul Tolkowsky, Exelco, CEO commented that "Collaborating with the Sales and Marketing arm of De Beers will further raise the profile of our retail stores in Japan and our branding programs with international retailers".

Launched in 2000, Supplier of Choice is the DTC's business strategy to drive consumer demand for diamond jewellery in an environment where diamonds are facing greater competition than ever before from other luxury categories, such as international travel and luxury goods brands. To date, Supplier of Choice has had a significant and positive impact on the diamond market. In 2004, diamond sales increased by 8%, following a 7% increase in 2003.

For the latest Supplier of Choice applications the DTC applied the same rigorous and objective process as in 2003, involving Exelco completing a detailed profile which assessed the company using six objective criteria. These criteria considered financial strength, market position, distribution abilities, marketing strengths, technical and manufacturing ability and compliance with criteria relating to business ethics and Best Practice Priniciples. Exelco was also required to confirm the type of rough diamonds they required to ensure the DTC could supply the diamonds they wanted.

Gareth Penny, Managing Director of the DTC said, "We are delighted to welcome Exelco as a DTC Sightholder for the next two and a half years under Supplier of Choice. The profiles submitted for this application process have been of the very highest standard and clearly demonstrate the commitment companies such as Exelco have to adding value and driving change in the diamond industry. Our Sightholders not only have access to our rough diamond supply but also a number of Value Added Services that will help the development and continued growth of their business and strengthen their position in the marketplace."

Sinead Boyle
Marketing Director, Exelco
Tel: + 32 3 233 24 52