Charles & Colvard Announces Participation in Upcoming Investor Conferences.

MORRISVILLE, N.C. -- Charles & Colvard, Ltd. (NASDAQ: CTHR), the sole source of lab-created moissanite, a created jewel available for use in fine jewelry, today announced that management will deliver presentations on behalf of the Company at the Cowen & Company 5th Annual Consumer Conference and at the Integrated Corporate Relations 9th Annual XChange Conference in January 2007.

The presentation for the Cowen & Company 5th Annual Consumer Conference is scheduled for Tuesday, January 9, 2007 at 8:00 a.m. EST at the Westin New York at Times Square. The presentation for the Integrated Corporate Relations 9th Annual XChange Conference is scheduled for Thursday, January 11, 2007 at 9:20 a.m. PST/12:20 p.m. EST at the St. Regis Monarch Beach Resort in Dana Point, CA.

To access the investor conference webcasts, go to the Investor Relations section of the Charles & Colvard website at www.moissanite.com or www.charlesandcolvard.com and click on the appropriate presentation button.

ABOUT CHARLES & COLVARD, LTD.

Charles & Colvard, Ltd. (NASDAQ: CTHR), based in the Research Triangle Park area of North Carolina, is the global sole-source of lab-created moissanite, a unique, near-colorless jewel that is distinct from other gemstones and jewels based on its exceptional fire, brilliance, luster, durability and rarity. Currently used in fine jewelry, Charles & Colvard created Moissanite[TM] is primarily marketed to the self-purchasing woman as the perfect reward or indulgence for a woman celebrating her achievements, whether personal or professional, big or small. For more information, please access www.moissanite.com or www.charlesandcolvard.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements expressing expectations regarding our future and projections relating to products, sales, revenues and earnings are typical of such statements and are made under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently.

All forward-looking statements are subject to the risks and uncertainties inherent in predicting the future. You should be aware that although the forward-looking statements included herein represent management's current judgment and expectations, our actual results may differ materially from those projected, stated or implied in these forward-looking statements as a result of many factors, including, but not limited to the Company's ability to manage growth effectively, dependence on Cree, Inc. as the current supplier of the substantial majority of the raw material, ability to develop a material second source of supply, dependence on a limited number of jewelry manufacturing customers, dependence on continued growth and consumer acceptance of the Company's products, in addition to the other risks and uncertainties described in more detail in our most recent annual report on Form 10-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur except as required by the federal securities laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors relevant to our business.