Value-added service to be offered as a result of roundtable discussions with industry representatives

Dubai, April 19, 2006: The Dubai Diamond Exchange (DDE) announced that it had signed an agreement with Transguard, the Emirates Group's security services provider, to offer its members special shipping rates for secure international transportation of diamond shipments to Mumbai, Antwerp, London, New York and Geneva. The agreement also designates Transguard as the official freight forwarder for the Exchange.

Transguard, which provides its customers with a variety of security services across international destinations serviced by Emirates, plans to extend this service to other destinations according to the business requirements of the DDE members.

"The Dubai Diamond Exchange is always looking to implement business friendly initiatives that will facilitate our members to conduct their Dubai-based transactions in a stress-free environment," said Dr. David Rutledge, Chairman, DDE. "The rate of freight charges for shipment of valuables originating from Dubai has been an area of concern for Dubai-based diamond traders, thereby affecting the development of the diamond trade. DDE has taken a proactive role in addressing these concerns and has worked closely with Transguard, which has already established a strong reputation for itself as a reliable and stable security services provider with a wide range services. DDE's agreement with Transguard will build on this reputation to offer value-added services to our members, thereby generating greater confidence in Dubai's diamond industry," he added.

The agreement with Transguard is a result of extensive dialogue and consultation with the members of the diamond industry, as part of the roundtable discussions that has been initiated by DDE," said Ms Noora Jamsheer, CEO of DDE.  "Held on a monthly basis, the Roundtable Discussions project encourages DDE members to take a hands-on role in leading the diamond industry reform in the upcoming years," she added. 

"We are very proud to be selected as the official freight forwarder by the Dubai Diamond Exchange which has a wide member database with its clientele ranging from various nationalities and diamond  trading centres across the globe," said Girish Mathrani, Sales Manager of Transguard. "We would like to express our commitment to supporting and growing the diamond industry in Dubai and will leverage our extensive state-of-the-art facilities, systems and equipment to offer value-added services to DDE members," he added.

Transguard already has a similar agreement with the Dubai Multi Commodities Centre, the parent arm of DDE, to offer reduced rates to its members for gold shipments to all the major gold centres served by the Emirates.  

DDE and Transguard have also launched a promotional scheme effective from May 1st 2006, to offer DDE members who are customers of Transguard, the equivalent of one skyward mile for every US dollar of invoicing, thereby ensuring double benefits.

The reward scheme for skyward miles will also be available for all DDE members as part of the monthly billing. Miles can be redeemed for free air tickets, upgrades, excess baggage, usage of lounges, special hotel rates and other offers introduced by Skywards from time to time.

-Ends- 

Editor's Note:
About the Dubai Diamond Exchange (DDE)
DDE is a member of the World Federation of Diamond Bourses enabling members access to international member exchanges.  DDE capitalizes on the rapidly growing trade flow of diamonds through the region and was established with the primary objective of promoting regional trade and global accessibility for local, regional and international diamond marketing participants. DDE, a Dubai Multi & Commodities Centre, and Dubai government initiative, rated 'A' by Standard & Poor's, promotes and strictly adheres to the Kimberley Process Certification Scheme. Its members represent global players from New York, Antwerp, South Africa, Mumbai, the UAE and other international centres.

For further information, please contact:
Tim Harrison / Sudha Chandran
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai,
UAE
Tel: 971-4-3355969,
Fax: 971-4-3356080
Email: t.harrison@asdaa.com / s.chandran@asdaa.com

© Press Release 2006