NEW YORK, June 11 /PRNewswire-FirstCall/ -- Sib Almaz, the potential merger/take-over candidate of Global Diamond Exchange, Inc. (OTC:GBDX) is in the process of renovating and restructuring the office that Global Diamond Exchange currently occupies at 2 West 46th street, taking advantage of the historically slow summer months in the industry in order to be ready for the up-coming season. The process has already started with new furniture, fixtures, and equipment having been ordered. Global Diamond Exchange will use alternate secure storage facilities for inventory during the remodeling period. Sib Almaz has also requested their personnel be added to Global's Management team for oversight and assistance in making sure that this and any future transactions proceed smoothly. Global is in the process of formalizing these additions. Sib Almaz has also announced the opening of a regional office in Moscow at 46 Leninsky Prospect which will be operational after the Russian Federal Holidays on Wednesday, June 13, 2007. The buyout/merger details are still being negotiated, and there are still no guarantees a transaction will be finalized. Attorneys are currently working out the details; once more information is given to us from the attorneys it will be made public. About Global Diamond Exchange: Global Diamond Exchange originally opened their office on 2 West 46th street in the heart of the New York's Diamond District. After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russia Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds. NOTE: Safe Harbor for Forward-Looking Statements. This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings. DATASOURCE: Global Diamond Exchange CONTACT: Alex Livak, +1-347-813-4664, , for Global Diamond Exchange; or Andre Rumiansev of Sib Almaz, +7903 549 5906 (Beginning Wednesday, June 13, 2007)

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