RLD.L Regulatory News (RLD)

16 May 2005 07:00

Tanzanite One Limited16 May 2005 TANZANITEONE LTD ANNOUNCES FIRST SIGHTHOLDERS TanzaniteOne Ltd (AIM TNZ) today announced the successful appointment of itsfirst sightholders and roll out of its plans in accordance with its PreferredSupply Strategy, announced in February this year. TanzaniteOne is the world'sleading supplier of the rare gemstone tanzanite, which it mines and markets. TheCompany listed on the London Stock Exchange in August 2004 and has a marketcapitalisation of approximately £60 million. "The Preferred Supply Strategy, which is a world first in the coloured gemstoneindustry, aims to grow the global market for tanzanite through strategiccollaborative relationships with exclusive customers, 'sightholders', selectedfrom the world's leading gemstone houses and jewellery manufacturers" saidPresident and Chief Operating Officer, Ian Harebottle, "Sightholders have beenchosen for their focus on tanzanite, ability to make a long-term commitment,distribution capabilities, understanding of the need for vertical integrationand their operational standards of the highest integrity and therefore theirbelief in and commitment to supporting an ethical route to market and growth ofthe tanzanite market as a whole." TanzaniteOne has committed to supply six parcels per year to each of itssightholders for a three year period. At these sights, sightholders will receiveparcels of rough tanzanite that have been graded according to an exhaustiverough tanzanite grading system, developed by TanzaniteOne, which includes atotal of 896 grades. These parcels are then individually priced according to thegrade, at a market related price. Parcels are made up specifically for theindividual sightholder and as such sightholders are given one allotment to viewprior to purchase. The system has been put in place specifically to assuresightholders of a consistent supply of rough tanzanite - a significantcommercial comfort in an industry that has had a history of erratic supply andconsequently, volatile prices. TanzaniteOne has initially appointed six sightholders, with plans to increasethis number in the medium term. These initial six sightholders are listed below: Color Jewels Inc.Color Jewels Inc. sells both loose tanzanite and tanzanite jewellery. Thecompany operates sales offices from the USA and the Far East, specifically NewYork, Bangkok and Hong Kong. K.L. Tambi & Co.K.L. Tambi & Co. is a prominent jewellery company based in Jaipur, India. Thecompany imports rough tanzanite, cuts and polishes it in its factory in Jaipurand exports and distributes through its own offices in the USA, the Middle Eastand the Far East. Rare Multicolor GemsRare Multicolor Gems has been in the gemstone business for 35 years andestablished its presence in New York 20 years ago. The company operatesmanufacturing facilities in Jaipur, India and has offices in the USA, Europe andthe Far East. STS JewelsSTS Jewels is one of the world's largest manufacturers and distributors oftanzanite jewellery. The company's 2000 plus employees work in the USA, Europeand Asia, cutting and polishing, manufacturing, distributing, marketing andretailing tanzanite and tanzanite jewellery. Tanzanite InternationalTanzanite International opened its first store in 1996. It currently operates 22specialty tanzanite jewellery outlets in the Caribbean, Mexico and Alaska. Thecompany purchases rough tanzanite; cuts and polishes, predominantly in Tanzania,and designs and manufactures tanzanite jewellery. The Tanzanite CompanyThe Tanzanite Company is TanzaniteOne's international manufacturer, distributorand marketer of top quality tanzanite gemstones and branded tanzanite jewellery.The Tanzanite Company has offices in Europe, Africa and the Far East. For further information please contact: TanzaniteOne SAIan Harebottle, President and Chief Operating OfficerAngela Parr Corporate Affairs+27 11 214 1000 Conduit PRLeesa Peters/ Amanda Harris+44 20 7618 8708/ 0781 215 9885 www.tanzaniteone.com This information is provided by RNS The company news service from the London Stock Exchange