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EXHIBIT 99.1
WEDNESDAY NOVEMBER 29, 7:00 AM EASTERN TIME
PRESS RELEASE
SOURCE: LJ International, Inc.
LORENZO YIH, CEO OF LJ INTERNATIONAL, INDUCTED INTO GEMOLOGICAL INSTITUTE OF
AMERICA'S LEAGUE OF HONOR
HONG KONG and SCOTTSDALE, Ariz., Nov. 29/PRNewswire/ - LJ International Inc.
(Nasdaq: JADE - news), the largest publicly owned manufacturer of semi-precious
jewelry, today announced that Lorenzo Yih, Chairman and CEO of LJ International,
was inducted into the Gemological Institute of America's (GIA) League of Honor
and received the GIA's prestigious medallion last month at a dinner honoring
industry leaders for their vision. Mr. Yih was among only 13 people selected for
this award for 2000.
o (Photo: http://www.newscom.com/cgi-bin/prnh/20001129/CGW007)
GIA was founded in 1931 by Robert M. Shipley in Los Angeles, and is a non-profit
organization renowned for its impartial service as the world's foremost
authority in gemology. The institute offers classes, courses and seminars to
help jewelers and their customers deal in a mutually assured spirit of
professionalism and trust, and is noted for creating and establishing the
international diamond grading system.
Mr. Yih was nominated for his support of the GIA and the GIA's "Vision 2000, New
World Headquarters" project. At a dinner and ceremony involving 500 members of
the Jewelry industry, Mr. Yih was inducted as a Campus Laureate and presented
with the League of Honor medallion. Laureates will have their names permanently
inscribed on the GIA Wall of Honor at the Institute's world headquarters in
Carlsbad, California.
"I am honored to receive this prestigious award from the Gemological Institute,"
said Mr. Yih. "It has been a pleasure and a very worthwhile endeavor to support
the World Headquarters campaign and the Institute in general. I wholeheartedly
believe in the Institute's educational and other efforts to advance the precious
and semi-precious jewelry industries."
About LJ International Inc.
With manufacturing operations in the People's Republic of China for more than 10
years, LJ International Inc. has grown to become the world's largest
publicly-owned manufacturer and marketer of semi-precious jewelry. The Company's
operations are totally vertically integrated from mine-to-market. LJ
International operates four manufacturing facilities in China that employ
approximately 2,500 skilled craftsmen. The Company produces more than 2 million
pieces of fine finished jewelry, and annually cuts more than 4 million carats of
high quality gemstones, which are sold primarily to the largest jewelry
retailers in the United States, including Wal-Mart, Zales and QVC. LJ
International invites the public to visit the Company's website at
http://www.ljinc.com/ for additional information.
Except for the historical information herein the matters discussed in this press
release contain forward-looking statements, including but not limited to future
sales, geographic expansion, customer diversification, the launch of
Lorenzo-branded jewelry, and the implementation of the Company's expansion
strategy. These forward-looking statements may involve a number of risks and
uncertainties. Actual results may vary significantly based on a number of
factors, including, but not limited to, uncertainties in product demand, the
impact of competitive products and pricing, changing economic conditions around
the world, release and sales of new products, and other risk factors detailed in
the Company's most recent annual report, and other filings with the
Securities and Exchange Commission.
