13 November 2006

World Jewelry Center Announces Initial Occupants

FOR IMMEDIATE RELEASE

Unveils List of Industry Leaders to be First Occupants in World Jewelry Center's
One Million Square-Foot Mixed-Use Facility

World Jewelry Center Officials, in conjunction with the City of Las Vegas today, unveiled several jewelry industry leaders who have committed to becoming the first key occupants in this one-million square foot mixed-use World Jewelry Center (WJC). These ten high-profile business leaders are the first to commit to doing business in the fifty-plus story high-rise building. The World Jewelry Center will combine the corporate offices of domestic and international gem and jewelry companies in a trade tower that will be one of the tallest office buildings in Las Vegas, along with a separate, free-standing gallery of retail jewelry stores with broad middle-market appeal. The WJC is planned to open for business in late 2009 to mid 2010.

The first ten tenants of the World Jewelry Center include: Lucent Diamonds, Inc., with CEO Alex Grizenko; Robert Wan Tahiti, with CEO and founder Robert Wan; Estet Jewelry Company with President and founder Gagik Gevorkyan; Kazanjian Bros., Inc. with CEO and Chairman Michael J. Kazanjian; Chow Tai Fook Group with Owner Dr. Yu-tung Cheng; Super Bell Jewelry with Principle Lo Huang; Tycoon Inc. with President Toros Kejejian and CEO Toros Z. Kejejian; SimplexDiam Inc. with Chairman and CEO Yogesh K. Madhvani; Alan Friedman Designs with President Alan Friedman and Vice-President Layna Friedman; and JPI Packaging., Inc. with President Paul Gao.

On October 25, 2006, Las Vegas Mayor Oscar B. Goodman was present alongside developer Robert Zarnegin and Bill Boyajian, former President of the Gemological Institute of America and current Managing Director of the WJC, to formally announce the project to the jewelry industry. The WJC will be located in downtown Las Vegas within the prominent master-planned community of Union Park.

Photo Cutline of Key Occupants from left to right:
Robert Zarnegin, Probity International; Toros Z. Kejejian, Tycoon; John Han, Super Bell Jewelry; Tip Cornell, Super Bell Jewelry; Turia Spector, Robert Wan, Tahiti; Alex Grizenko, Lucent Diamonds; Yogesh Madhvani, SimplexDiam; Alan Friedman, Alan Friedman Designs; Mayor Oscar B. Goodman; Ruth Batson, American Gem Society; Michael Kazanjian, Kazanjian Bros; Toros Kejejian, Tycoon; Bill Boyajian, World Jewelry Center; Madine Babayan, Estet Jewellery Company; Gayne Gevorkyan, Estet Jewellery Company; Gagik Vardanyan, Estet Jewellery Company.

The World Jewelry Center is being designed by award-winning Altoon & Porter Architects and the cornerstone will be an iconic, state-of-the-art office tower. Occupants will own their own subdivided space in the tower, which will also include meeting and exhibition facilities, several international restaurants, a private club and a fitness center. The top floors of the tower will be dedicated to luxury residential condominiums with panoramic views. The adjacent three-story retail jewelry center will have a world-class gem and jewelry museum and exhibition space open to the public. The retail center will be designed to educate and excite the general public about gems and jewelry by building confidence in the products designed and manufactured from around the globe.

The Center will be built with every amenity and service in mind to make the WJC the world's premier fully integrated, service-oriented business hub catering to international and domestic retailers, manufacturers, dealers, and wholesalers in the gem, jewelry and pearl industries. The WJC will include: state-of-the-art security; secure shipping and receiving; gem grading labs and educational facilities; trade associations; and plans for a dedicated Foreign Trade Zone.

According to Boyajian: "The WJC has attracted key trade leaders who span all industry sectors and international boundaries, creating an environment that will bring about new ideas and best practices that will only make our industry better. Our goal for the retail center mirrors that of the trade tower. We are focused on quality, integrity and value in building and enhancing consumer confidence. Our emphasis will be on public education, security, convenience, product differentiation, and a great buying experience. Nothing will be spared in meeting these objectives."
Probity International Corporation is a prominent Beverly Hills-based, fully-integrated real estate company that has for the past 30 years successfully developed and operated Class-A office, hotel, retail, industrial and residential properties in the U.S. and abroad. Probity developments and investments include: The Peninsula Beverly Hills, a Five-Star, Five-Diamond, world-class hotel; 660 Madison, 250,000-square feet of Class-A office space located on Madison Avenue in Manhattan above Barney's Department Store; The Wilshire, a 27-story residential condominium landmark in Los Angeles; Rodeo Drive Center in Beverly Hills; and the Brentwood Financial Plaza in Los Angeles, to name a few. More information on Probity International Corporation can be found at www.probityinternational.com. The World Jewelry Center is operated by Nevada-based Heritage-Nevada VIII, LLC, with corporate and sales offices in Beverly Hills. For more information on the WJC, please call 310-888-8864 or go online at www.worldjewelrycenter.com.