Press Release

GCAL Sponsors WDC Welcome Cocktail Reception in Jerusalem; Guest Of Honor Shimon Peres Stirs Hearts, Hopes With Speech

NEW YORK, NY ― May 25, 2007 ― The Fifth Annual Meeting of the World Diamond Council held in Jerusalem, Israel, on May 9-10, was a phenomenal success, as more than 100 industry leaders from around the globe gathered to discuss the future of the diamond industry and WDC’s ongoing commitment to eradicate the flow of conflict diamonds. And during a two-day conference that featured compelling presentations from a Who’s Who list of industry, government and non-government organization (NGO) leaders, the most inspirational speech of all came on the first day from Israeli Vice Prime Minister Shimon Peres, noted Don Palmieri, President of Gem Certification and Assurance Lab (GCAL), one of the sponsors of the event.

Following an impressive laser light show presented against the wall around the Old City of Jerusalem, participants enjoyed a Welcome Cocktail Reception sponsored by GCAL on May 9. Mr. Peres – a Nobel Peace Prize Laureate and the reception’s guest of honor – gave a moving speech highlighting Israel’s paradox of war on the one hand, and its global economic success on the other. He also stressed the power of the individual in the new global economy, the wonderful opportunities on the horizon in today’s era of technology and science, and noted how the diamond industry serves as an example of the individual’s ability to create new worlds and change them. Mr. Peres concluded his stirring speech with the words: “Diamonds represent the hope that is in all of our hearts.”

“It was a special night, attended by distinguished diamontaires, and capped off with a phenomenally inspirational speech from Shimon Peres that left all in attendance spellbound and uplifted,” Mr. Palmieri said. “He is truly a remarkable man.”

In his remarks during the reception, Mr. Palmieri welcomed the participants and pledged GCAL’s support for WDC and its mission. “This was possibly the first time in many years that the industry and the NGOs are in sync on the next steps we need to take to protect the industry throughout the entire pipeline,” he said. “WDC is in good hands with Chairman/CEO Eli Izhakoff, and GCAL is happy to share in the efforts of WDC in protecting the industry and consumers.”

Mr. Palmieri also noted that WDC’s focus on urging social and ethical responsibility within the global diamond industry perfectly parallels CGAL’s own initiatives directed at protecting the consumer and giving them complete confidence in the quality and origin of every diamond they purchase. This includes GCAL’s exclusive Zero Tolerance Consumer Diamond Grading Guarantee offered on all its diamond grading certificates – the first and only guarantee of its kind in the diamond industry. Also, as a subsidiary of Collectors Universe Inc., GCAL is the only diamond laboratory subject to the review and regulations of a publicly traded company, and is required by law to provide full disclosure of its business operations. GCAL also offers its unique SourceVeritasSM Passport, which provides diamond purchasers with the assurance and security of knowing their diamond came from a conflict-free source.

World Diamond Council (WDC) was formed in 2000 to stop the flow of conflict diamonds through the implementation of the Kimberley Process and System of Warranties. WDC’s Annual Meeting brings together government, non-government and industry leaders in an open forum to discuss the issues at hand surrounding the eradication of the flow of conflict diamonds. WGC represents more than 50 organizations worldwide – from mining companies and trade associations to manufacturers and retailers. This year’s Annual Meeting was hosted by the Israeli Diamond Industry.

About Gem Certification and Assurance Lab
Gem Certification & Assurance Lab (GCAL) is a subsidiary of Collectors Universe, Inc., a NASDAQ Global Markets traded company (CLCT NASDAQ listed). GCAL provides guaranteed diamond certification with bundled services including Gemprint and direct light performance analysis as well as SourceVeritas and Ideal Cut certificates ( GCAL is the Official Diamond Laboratory of the International Colored Gemstone Association for North America, the JCK Shows, Couture, and the JA Shows.


Donald A Palmieri, President
(212) 869-8985

Nancy Robey
Collectors Universe Inc.
(646) 871-4035