Premier Selected as DTC Sightholder

Premier Gem Corp., a supplier of larger polished diamonds to retailers, said Monday that it has been selected by the Diamond Trading Company as a sightholder for the next contract period, 2008 – 2011.

“The decision by the DTC to renew its contract with Premier Gem is a tremendous vote of confidence in our business model,” said Marvin Samuels, Premier Gem’s founder and CEO. “In the 50 years we have been in business, we have never strayed from our mission: to create some of the most spectacular diamonds the world has ever seen.”

The announcement by the DTC comes at the end of a review process that began earlier this year. DTC Sightholders are a select group of manufacturers deemed to be leaders in their trade by the Diamond Trading Company, the marketing arm of De Beers. Companies that wish to retain their Sightholder status – or become a Sightholder for the first time – must undergo a rigorous review of their business practices, as well as demonstrate substantial ability to handle a consistent supply of rough diamonds for polishing.