Forest Diamonds | PRESS RELEASE

Press Release

FOREST DIAMONDS

World’s Largest Diamond Matched Pairs Manufacturer

FOREST DIAMONDS WIN 1.1 MILLION DOLLAR JUDGMENTS

IN THE LAWSUIT AGAINST YEHUDA AMINOV AND HIS COMPANY.

NEW YORK, NY – February 10, 2010 – Forest Diamonds™, a division of TAM Diamonds, Ltd., the world’s largest diamond matched pairs manufacturer, today announced that the United States District Court for the Southern District of New York issued a judgment in Forest's favor against Yehuda Aminov in the amount of $352,481. The Court's decision comes almost two years after Aminov Diamonds, LLC. , a company owned by Yehuda Aminov, signed a confession of judgment in Forest's favor in the amount of $ 750,000. The confession of judgment was issued approximately one month after Forest filed a motion for sanctions against both Aminov Diamonds LLC., and its principal, Yehuda Aminov, for intentionally destroying evidence. Shortly after Forest filed this motion, Yehuda Aminov filed for personal Bankruptcy. Forest successfully persuaded the court not to discharge Yehuda Aminov’s actions debt to Forest given that an act of conversion is not dischargeable in bankruptcy.

Hanan Totayev, vice president of Forest Diamonds, said in reference to the lawsuit: "The court’s ruling shows that our claims were well established. The judgments we received against Yehuda Aminov and his company total over 1.1 million dollars. This is the number we conservatively alleged and placed in our complaint back in 2006; I think it speaks for itself. In our trade, we must be able to trust our colleagues on a daily basis. That is the only way for us to do business. People who take advantage of that trust should pay the price. It is not only essential to us as an industry, but it is our obligation as honest individuals. I thank our legal team for their outstanding efforts and support throughout this battle. Unfortunately, it takes many truthful people to defeat one deceitful person.”

Stephen Wagner, Sari E. Kolatch and Joseph M. Vann, partners in the New York law firm of Cohen Tauber Spievack & Wagner P.C. represented Forest in this action.

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