Diamond Market Report 11/23/2007

Diamond Market Report 11/23/2007

*Important U.S. Thanksgiving weekend opens holiday season.

*High-end jewelry and inexpensive promotional goods expected to do well.

*Mid quality price points, may be problematic.

*Scarcity driving premiums for better quality 3ct+.

*India: trading picks up as business resumes post-Diwali.Gitanjali Group acquires U.S. retailer
Rogers Jewelers for $20 mil.

*Nordstrom 3Q profits +22% to $166 mil., revenues +5% to $2 mil. with same stores sales
+2%.Saks sales +14% to $796 mil., same store sales +11%., 3Q profits +249% to $22 mil. Zale
1Q loss at $28 mil. sales -1% to $377 mil.