Rapaport to Auction 50,000 carats of Melee in New York

The Rapaport Group will be holding its monthly Melee Auction
from October 11-15 in New York.

The auction will feature over 50,000 carats of assorted
parcels of polished diamonds ranging from -2.5 sieve plate to 1ct commercial
quality goods. This auction follows the successful melee auction held last
month in which 39,790 carats were sold for $4.69million with 100 percent of
lots sold.

The Rapaport Group is also launching a new global Internet
auction that will provide an opportunity for buyers all over the world to
source diamonds directly from the major diamond cutting centers. The auction
will be limited to GIA graded Excellent to Very Good, Round, 0.50-10.00 carat,
D-K, IF-VS2, polished diamonds. Bidding will take place on the Internet via
specially designed live bid screens with full disclosure of reserve prices and
bidding. Rapaport will guarantee the authenticity of the GIA reports, as well
as payment to suppliers and delivery of diamonds to buyers.

The Internet auction live bids screens will be online at http://www.rapaport.com/certauction
from Monday, October 25 through October 28 when the auction will close at 5 pm
N.Y. time.

For more information, click here or e-mail:
auctions@rapaport.com. For specific information on the Rapaport Certified
Diamond Auction contact: certauction@rapaport.com