First Ever De Beers Necklace to be Auctioned Off At amfAR's Charity Dinner On May 23rd, 2002.

Business Editors

LONDON--(BUSINESS WIRE)--May 23, 2002

De Beers LV will unveil on May 23rd the first De Beers branded necklace ever to be sold to the public.

This necklace will be auctioned off at the Cinema Against AIDS 2002 dinner at the Moulin de Mougins to benefit the American Foundation for Aids Research (amfAR).

The De Beers necklace is likely to reach collector item status at once because it will be the first piece of jewellery ever made and sold by De Beers LV, the independent company established in 2001 by De Beers SA and LVMH Moet Hennessy Louis Vuitton. Its retail value is $100,000 but collectors looking to buy a piece of history may have to dig much deeper into their pockets.

Creative Director Reema Pachachi, who is orchestrating the design of the new De Beers jewellery collections said: "We are creating jewellery to celebrate the magic of diamonds. Diamonds are the most fabulous material on Earth so jewellery should be designed to unleash their amazing power. Our collections will have essential shapes and clean lines, allowing diamonds to speak for themselves."

Iman, who works with De Beers LV in the dual role of style inspiration and brand icon, said about the necklace: "This necklace is absolutely magical. I hope it reaches a very high price, because the proceeds are going to a charity dear to my heart."

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