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Global Diamond Exchange Expects Sales Office to Be Operational By the 1st of November

Posted on: Tuesday, 26 September 2006, 12:00 CDT

Global Diamond Exchange (PINKSHEETS: GBDX) is pleased to announce that it expects its sales office, located in the New York City Diamond District to be fully completed and operational prior to the 1st of November, with the first diamond shipment expected to arrive around the 3rd of November. Both are timed to coincide with the beginning of the 2006 Holiday season.

The company has recently decided to open its wholesale office at 2 West 46th Street in New York City to take advantage of the increased demand in the United States for fine quality wholesale cut diamonds. Due to a change in Russian law the company has exercised its option to import rough stones based on a percentage of their cut polished export quota of stones from Russia. The company has contracts with Russian cutters to cut and export these exquisite brilliants from Russia.

The Diamond District, which is located on West 46th, West 47th and West 48th Streets between Fifth Avenue and the Avenue of the Americas (6th Avenue) in midtown Manhattan, is the perfect location for Global Diamond Exchange. The Diamond District is within walking distance of many New York City attractions, one block south of Rockefeller Center, three blocks south of Radio City Music Hall (along the Avenue of the Americas) and three blocks south of St. Patrick's Cathedral (along Fifth Avenue). It is also just one block east of the Broadway Theater District.

About Global Diamond Exchange:

Global Diamond Exchange originally opened their office on 2 West 46th Street in the heart of the 'New York's Diamond District'. After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russia Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds.

NOTE: Safe Harbor for Forward-Looking Statements.

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan,""confident that,""believe,""scheduled,""expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.

 Contact: Alex Livak 347-813-4664 Email: alivak@fortuneir.com

SOURCE: Global Diamond Exchange (Formerly WWCD)

Source: MARKET WIRE

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