Diamond price news

NEWPORT BEACH, Calif., May 15, 2006 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (Nasdaq: CLCT - News), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles and diamonds, today announced that its diamond grading division, Gem Certification & Assurance Lab, Inc. (GCAL), has launched a new patent pending service named Source Veritas(SM) Passport. In addition to GCAL's diamond authentication and grading services, the Source Veritas Passport Service provides the diamond buyer with the assurance that a GCAL certified diamond was sourced from a Diamond Trading Company Sightholder and was cut and polished from a rough diamond that was in compliance with the Kimberley Process and the United States 2003 Clean Diamond Act, as may be applicable.

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The Diamond Trading Company is the marketing arm of De Beers and sells rough diamonds to its authorized distributors, or sightholders, in accordance with the Kimberley Process, an internationally recognized process for the trading of rough diamonds with representations that the diamonds originated from countries meeting certain standards (http://www.kimberleyprocess.com). The Kimberley Process stops with final sale of rough diamonds, and once a diamond is cut and polished and moves into the polished diamond distribution chain, buyers must rely on a system of warranties provided by their sellers. Since sellers have a significant financial interest in the sale of those diamonds they cannot be considered independent in the warranty. The Source Veritas Passport is the first certification that is independent of the distribution chain and enhances the diamond selling process by providing assurance to the diamond buyer that a polished diamond, initially distributed by a Diamond Trading Company Sightholder participating in the GCAL Source Veritas Passport Program, originated from a Kimberley compliant source.

The Source Veritas Passport is being highlighted at the upcoming JCK Show in Las Vegas June 3-8, 2006, and is being initiated by the Diamond Trading Company Sightholder Pluczenik. GCAL is also introducing Source Veritas Passport service to other Diamond Trading Company Sightholders.

Earlier this year, GCAL introduced the Five Star Diamond Grading Certificate which included several services bundled into one certificate at attractive prices, replacing two or more certificates previously purchased by the submitter. The Source Veritas Passport includes all of the bundled services of the Five Star Diamond Grading Certificate, plus the identification of the Diamond Trading Company Sightholder and the assurance that the diamond was cut from a stone in compliance with the Kimberley Process.

Shmuel Pluczenik, Chief Executive Officer of Pluczenik, stated, "We are privileged to provide the most emotional product that mankind can share with their loved ones; so it is imperative that our diamonds are clean of any social tarnish. The source Veritas Passport ensures this and builds consumer confidence in our diamonds."

Michael Haynes, Chief Executive Officer of Collectors Universe, explained, "The Source Veritas Passport is the culmination of two years of effort in research, design and patent work that ultimately benefits the retail consumer. Now a diamond buyer has one certificate that provides authentication and grading, direct measurement of light performance, Gemprint or the 'fingerprint' of the diamond to match the diamond with the certificate, and the assurance that the diamond was sourced from a Diamond Trading Company Sightholder and cut from a Kimberley Process compliant rough diamond."

About Collectors Universe

Collectors Universe, Inc. is a leading provider of value added services to the high-value collectibles and diamond markets information. The Company authenticates and grades collectible coins, sports cards, autographs, stamps currency and diamonds. The Company also compiles and publishes authoritative information about United States and world coins, collectible sports cards and sports memorabilia, collectible stamps and diamonds. This information is accessible to collectors and dealers at the Company's web site, http://www.collectors.com, and is also published in print.

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