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Leo Schachter Welcomes Rosy Blue
as a Minority Investor

Leo Schachter is pleased to welcome Rosy Blue as a minority investor in its business. This transaction, anticipated to close soon, will mark a culmination of over thirty years of a trading relationship built between the two groups.

Leo Schachter will continue to operate independently under the Schachter family's majority ownership, by its principals and the leadership of the current executive team.

Leo Schachter and Rosy Blue will seek to create operational efficiencies by tapping into each other's vast processing and administrative infrastructure around the globe with a view to delivering even better value to our respective clientele.

Elliot Tannenbaum, Principal at Leo Schachter, noted that 'From its inception in the diamond business 65 years ago, our two families have been blessed in identifying enduring partnerships where hard work, merged with diverse talents and ways of thinking, have produced excellent results. We feel that the relationship and collaboration which we have enjoyed with the Rosy Blue family for over two generations will produce a unique and innovative platform for the demands of today's diamond industry.

Amit Bhansali, Managing Director of Rosy Blue NV said, "Rosy Blue has enjoyed a very long and trusting relationship with Leo Schachter, thanks to our shared values built on hard work and integrity. The forward-thinking and responsible nature of Elliot and his team will be a great benefit to Rosy Blue as we navigate the evolving market."

About Leo Schachter Diamonds:
Leo Schachter Diamonds was founded in 1952 and became one of NY's largest diamond manufacturers, receiving its first De Beers Sight in 1966 and its Alrosa allocations in 2015. Leo, together with sons-in-law Eric Austein, Elliot Tannenbaum and David Greenberg, alongside Avraham and Moshe Namdar with whom the family had partnered for 25 years until the mid-2000's, led the company to become Israel's leading diamond exporter over three decades and one of the world's largest diamond manufacturing companies, operating in all major diamond locales, with NY as a distribution hub for the vital US market. The business remains centered on its family values, now spanning its fourth generation with Dov Tannenbaum, Leo's grandson. For more information visit https://www.leoschachter.com/.

About Rosy Blue:
Rosy Blue – De Beers Sightholder, client of Alrosa and Dominion Diamond Corporation – is one of the world's foremost diamantaires, with a long and distinguished history of excellence in the diamond industry and fulfilling exacting requirements of our customers around the globe. Rosy Blue is a global leader in the trading of rough diamonds, manufacturing and distribution of polished diamonds and jewelry, a signatory to the United Nations Global Compact, participant of the Global Compact LEAD, and a founding and certified member of the Responsible Jewellery Council. Please visit www.rosyblue.com for more information.