Rapaport Buys Fifty Percent Stake in Octahedron

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The Rapaport Group purchased 50 percent share in Australia-based jewelry software company Octahedron Pty Ltd., which now gives the store management software company global reach.

Jewelers across the globe will use Octahedron's software to increase productivity and profits. The Rapaport Group and Octahedron share a common vision that embraces the benefits of technology to meet the challenges of change. Octahedron also shares our values of honesty, transparency and a total commitment to improving the business of our clients.

The Rapaport Group announced today that it has purchased a 50 percent share in Octahedron Pty Ltd, the web-based point-of-sale and business management software company for the jewelry industry. Octahedron's innovative jewelry store management software increases productivity, efficiency and profits, as it enables optimal management of company resources. Thousands of jewelers across the globe will benefit from this new technology as the global reach of Octahedron is extended through its association with Rapaport.

Octahedron has already earned international recognition for its cutting edge technology that provides advanced inventory management solutions to jewelry stores around the globe. The company is also known for its personal customer support and superior training facilities. The relationship with Rapaport will enable Octahedron to open two additional customer support desks in Las Vegas and India, allowing 24-hour first class customer support as the company's products are introduced into the major United States and Indian markets. Clients will also enjoy improved access to electronic markets, providing global sourcing as well as sophisticated market news and information.

Octahedron will retain its distinct brand identity and will operate independently of the Rapaport Group. Octahedron's head office will remain in Brisbane, Australia, and all employees will remain with the company. For more information visit: http://www.octahedron.com.au.

"Octahedron is a first class company with excellent technology and management," said Martin Rapaport, chairman of the Rapaport Group. "Jewelers across the globe will use Octahedron's software to increase productivity and profits. The Rapaport Group and Octahedron share a common vision that embraces the benefits of technology to meet the challenges of change. Octahedron also shares our values of honesty, transparency and a total commitment to improving the business of our clients."

Raeleen Gillett, CEO of Octahedron, said, "We are excited by the new addition to the company. Our companies share similar values; we both put our clients first and are committed to innovating and pioneering change to improve their experience. Together, we are natural partners to offer jewelers premier software that will set their business apart.

"By joining forces with Rapaport, we can benefit from its global reach and industry leadership to deliver a solution to our clients that exceeds their expectations and is unparalleled in both the software solution and the service delivered."

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality-control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at http://www.diamonds.net.

About Octahedron: Octahedron's innovative point of sale and business management software helps jewelers around the world to better manage, improve and grow their business. Founded in 2001 by Raeleen Gillett, Octahedron creates products exclusively to the jewelry industry. Headquartered in Brisbane, Australia, Octahedron's reach extends throughout the industry, in countries and languages around the world. Octahedron's purpose is to provide plug-and-use devices that place the jeweler in control of their business, and make life easier for both owners and their staff.

Media Contacts:    

Raeleen Gillett    for Octahedron                    
US toll free: 866-587-8181                 
Australia 1-300 -787- 964
International +61- 7- 3216 -1433
raeleen@octahedron.com.au

Mordy Rapaport for Rapaport Group
International: +1-917-922-0517
mordy@diamonds.net

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