The Dubai Pearl Exchange to host the two international pearl trade events

Pearls with a wholesale value of over US$10 million to be offered

Dubai, UAE; 27 October 2010: The Dubai Pearl Exchange ('DPE'), a subsidiary of Dubai Multi Commodities Centre ('DMCC'), will be hosting two major international pearl trade auctions in January 2011 at its headquarters in the Almas Tower. The first event will feature white South Sea pearls produced exclusively by Paspaley Pearling Co., on the 10th and 11th of January. It will be followed by an auction of Tahitian and golden South Sea pearls from Robert Wan and Jewelmer, respectively, on the 12th and 13th of January.

Commenting on the subject, Ahmed Bin Sulayem, Executive Chairman of DMCC, said:

"The UAE has a rich pearling heritage which forms the foundations of the Dubai Pearl Exchange, the purpose built pearl trading venue located in Almas Tower, the centrepiece of the Jumeirah Lakes Towers free zone. We are delighted that the internationally renowned pearling companies of Paspaley, Robert Wan and Jewelmer have confirmed their faith in Dubai and the DPE as the ideal location to best present these 'jewels of the sea' to their global customer base.

The auctions highlights will include loose merchandise suitable for strand-making and jewellery manufacturing but also including strands and matched pairs in a wide range of qualities, ranging from entry level commercial merchandise through to rare fine quality pearls in large sizes. These two events are the first commercial trade auctions by these leading pearl producers at the DPE and follow on the success of the Dubai Pearl Tender of some of the world's rarest and most sought after natural and cultured pearls held in 2009, which generated over US $1 million in wholesale value.

Paspaley is the world's leading producer of South Sea pearls and is renowned for its large gem quality pearls. The business was founded 75 years ago as a natural pearl company and is one of the last South Sea pearl producers that still harvests natural pearls and cultured pearls from wild pearl oysters. Nicholas Paspaley, Chairman of Paspaley Pearling Co, commented:

"We have chosen to host this event in Dubai for the simple reason that it is establishing itself as a truly global pearl trading centre. In 2009 we successfully sold some of the rarest and finest natural and cultured pearls ever produced. The reason for returning to Dubai to host a major wholesale auction is straightforward; to explore new markets while taking advantage of Dubai's strategic location for established clients. The passion for pearls in the Gulf region is unquestionable and we are confident of another successful event."

Throughout the years, Robert Wan has become a legendary pioneer in the Tahitian cultured pearl industry. Often referred to as the "pearl emperor" of Tahitian cultured pearls, Robert Wan, President of the Robert Wan Tahiti Group adds:

'Our strategy of diversification, which has helped us become the leader of the Tahitian cultured pearl trade, encouraged this move to bring a full-fledged pearl auction to Dubai. The future is never stronger than when it is firmly rooted in tradition - when we think that the Persian Gulf fisheries were in activity 3 thousand years ago and that even then this region knew how to develop a powerful pearl industry, we have to pay tribute to Dubai.'

Partnering with Robert Wan is Jewelmer. Since its inception in 1979, Jewelmer specializes as a leading producer of exquisite and rare golden Palawan South Sea pearls. Jacques Branellec, Managing Director, Jewelmer International Corporation partners with Robert Wan for the first time to expand their already growing trade in the Region, which currently stands at around 15% of finished product sales.

Both events, launched with the objective of bringing the best cultured pearls to the region in the most convenient setting, will be on an 'invitation-only' basis for leading pearl traders, jewellery manufacturers and DPE members. Interested parties should contact the Dubai Pearl Exchange.

-Ends-

Dubai Pearl Exchange
The Dubai Pearl Exchange (DPE) is a subsidiary of the Dubai Multi Commodities Centre (DMCC), a Dubai Government initiative. An exclusive trading platform for the pearls industry, the DPE facilitates the pearl trade through a 'one-stop shop' structured, service-oriented platform for members only with objective of reinstating Dubai as a principal global pearl trading centre. Membership fosters increased business opportunities with international and regional players in the natural and cultured pearls industry through various value added initiatives. For more information, the website is www.dpe.ae

Dubai Multi Commodities Centre
The Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, was established in 2002, with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. The Centre attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance. DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment. DMCC has also implemented a dedicated compliance policy in the organisation, which is in line with the compliance related laws and regulations of the UAE Federal Government and the competent international bodies.

Enquiries:
Brunswick Group
Jade Mamarbachi
+971 (4) 365 8262

© Press Release 2010