Press Release

GCAL Launches Zero Tolerance Consumer Grading Guarantee

Gem Certification & Assurance Lab Introduces “Zero Tolerance” Grading Assurance with a Money Back Guarantee

NEW YORK, N.Y. – March 9, 2007 – Gem Certification Assurance & Lab (GCAL) announced today that it is now offering a “zero tolerance” guarantee on all of its diamond grading certificates. Although this ground-breaking move is exceptional because it is the first and only such grading guarantee in the diamond market, it is one of the key elements of the consumer-oriented grading services offered as a matter of policy in the grading divisions of Collectors Universe, the NASDAQ traded parent company of GCAL.

“Because we obtain consistent and accurate results using our consensus expert grading, excellent research facility, patented Gemprint technology and diamond profile light performance, we are making this ‘zero tolerance’ consumer guarantee available to any retail customer anywhere in the world,” said GCAL President, Don Palmieri. “We intend to make buying a diamond a positive and safe experience for the consumer so we can help the retailer obtain more of the luxury buying dollar in the marketplace.”

Although GCAL has offered a money back guarantee within certain grading tolerances since its inception, at the Fine Jewelry CEO Summit in Atlanta in February of 2007, the marketing director of a large retail jewelry chain asked Don Palmieri about the GCAL guarantee and the tolerance allowed for grading errors. That discussion precipitated a review of the grading tolerance with the parent company, Palmieri and the GCAL gemologists. Based on the experience of the parent company, the GCAL procedures and the opportunities in the diamond market, Palmieri decided that the “zero tolerance” guarantee was a benefit ready for the retail diamond market and its consumers.

The GCAL “Zero Tolerance” Consumer Guarantee ensures the accuracy of the cut, color and clarity grades and the carat weight assigned to GCAL certified diamonds. The Cut Grade is assigned using the GCAL Cut Grading Standard (for round diamonds) and a hybrid method for other cuts. The Color Grade is assigned by matching to the GCAL Master Color Diamond Precision Sets, as established by renowned gemologists including G. Robert Crowningshield, Bert Krashes, Eunice Miles and Cap Beeseley in 1976. The Clarity Grade is assigned by consensus of the GCAL expert gemologists with the oversight of Lab Directors Dan Gillen and Halina Kaban, who together have over 43 years of grading experience with over 400,000 of the world’s greatest gems. The Carat Weight is established with state-of-the-art equipment that measure and weigh the stone.

According to the GCAL guarantee, at any time during the two years following the GCAL diamond certification, a consumer may submit the diamond for a challenge. If the diamond is identified as the original diamond certified by GCAL with no damage, treatment or re-polishing or re-cutting and the weight or quality rating is determined by GCAL to be lower than the weight or quality rating on the original certificate, then GCAL will reimburse the difference in retail market value between a diamond with the original weight and quality and the newly established weight or quality. Other details apply and may be obtained on the GCAL website

"Last fiscal year, our parent company had four divisions offering a similar guarantee and certified $1.7 billion in high-value assets while paying approximately $391,000 under those guarantees," Palmieri explained. "We expect to be accurate and consistent, but we also know that there is a process to remove any possible inaccuracies from the marketplace so that every buyer can have confidence in the quality of the diamond carrying a GCAL diamond grading certificate.".

About Gem Certification and Assurance Lab
Gem Certification & Assurance Lab (GCAL) is a subsidiary of Collectors Universe, Inc. In addition to being the 2007 Official Diamond Grading Laboratory of the JA NY Winter Show, GCAL is also the Official Diamond Grading Laboratory of the 2007 Fine Jewelry CEO Summit and the 2007 JCK Las Vegas and JCK Invitational Shows, as well as the Platinum Sponsor of the ICA (International Colored Gemstone Association) 2007 World Congress in Dubai. On the Internet:

CONTACTS: Liz Kennedy
Luxury Brand Group
(212) 581-6388

Donald A Palmieri, President
(212) 869-8985