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JADE LJ International, Inc. (MM)

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Share Name Share Symbol Market Type
LJ International, Inc. (MM) NASDAQ:JADE NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.00 0 01:00:00

LJ International Reports Strong Interest From JCK Las Vegas Trade Show

22/07/2010 4:27pm

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LJ International, Inc. (LJI) (NASDAQ: JADE), a leading jewelry manufacturer and retailer, today reported the successful introduction of its 2011-2012 jewelry line at the recent JCK Las Vegas trade show (June 4-7, 2010). The show is one of the world's most important business-to-business buying and selling opportunities for the jewelry industry. To date, LJI has already booked over $7 million in orders from US customers from the event.

Orders include over 60,000 pieces -- approximately $3 million for gold and silver pieces from the largest jewelry chain store in the US, and nearly $4.4 million for gold jewelry from the membership discount store chain of the largest US retailer.

In total, LJI expects to book approximately $20 million in sales from JCK Las Vegas, with most of the revenue booked by the end of 2010. JCK-based orders historically make up about 40% of LJI's overall wholesale revenues in a given year.

During the JCK show, LJI met with 34 retail partners, representing the Company's entire non-European customer base for its wholesale division.

The expected $20 million in total revenues from JCK orders in 2010 is closely comparable to amounts recorded by LJI before the global economic downturn that began late in 2007. In 2006, orders from JCK Las Vegas totaled approximately $22 million, up from $20 million in 2005 and $17 million in 2004.

This year, LJI's presentation to retailers featured its new collections for 2011 and 2012, which consists of approximately 100 new pieces using colored gemstones in contemporary designs. With most of the pieces priced between $100 and $200, the collections follow the "affordable luxury" strategy that has helped boost LJI's sales growth in recent quarters.

"We are pleased to report an enthusiastic reception by our retail partners for our new jewelry line," said LJI Chairman and CEO Yu Chuan Yih. "It has been encouraging to see JCK orders return to near pre-recession levels. The stimulus in our North American wholesale market, coupled with our positive initiatives in the retail business, are encouraging trends in our business."

About LJ International, Inc. LJ International, Inc. (LJI) (NASDAQ: JADE) is engaged in the designing, branding, marketing and distribution of its full range of jewelry. It has built its global business on a vertical integration strategy, and an unwavering commitment to quality and service. Through its China-based ENZO retail chain stores, LJI is now a major presence in China's fast-growing retail jewelry market. As a wholesaler, it distributes to fine jewelers, department stores, national jewelry chains and electronic and specialty retailers throughout North America and Western Europe. Its product lines incorporate all major categories, including earrings, necklaces, pendants, rings and bracelets. For more information on the Company, visit the Company's website at www.ljintl.com.

Cautionary Note Regarding Forward-Looking Statements: This press release may contain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. We caution you therefore against relying on any of these forward-looking statements. Factors that could cause actual results to differ materially from such statements, as well as additional risk factors, are detailed in the Company's most recent filings with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking information contained in this press release or with respect to the announcements described herein, except as may be required by law.

Contacts Corporate: Mr. Ringo Ng Chief Financial Officer LJ International Inc. Tel: 011-852-2170-0018 Email Contact www.ljintl.com Investor Relations: Ms. Jennifer K. Zimmons/ Richard Cooper Managing Director/Chairman Strategic Growth International, Inc. Tel: 212-838-1444 Email Contact / Email Contact www.sgi-ir.com

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