Including the first Damas Concept Shop

Dubai, UAE (January 20, 2009) Damas International Limited (“Damas”), the international integrated jewellery and watch retailer, today announces the successful opening of nine different stores at Dubai Mall, one of the world’s largest shopping malls. The massive retail undertaking reflects Damas’ store network expansion strategy which aims to solidify its position as the leading jewellery distribution network in the Middle East. Damas operates 467 stores in 18 countries around the world, as of 30 June 2008.

Mr. Tawhid Abdullah, Chief Executive Officer and Managing Director, Damas International Limited commented: “Damas is proud to announce the opening of nine of its stores at one of the city’s newly opened premier shopping destinations right in the heart of the city. This comes as part of our growth plans that are based on organic store openings. The distinctive formats of these stores are also in alignment of our strategy to increase our market share.”

Damas’ unique business model enables it to appeal to multiple customer segments. The new nine outlets cater to a wide range of customers of different nationalities and socio-economic backgrounds and introduce a new format – Damas Concept Shop. The Concept Shop houses Damas’ own brands and will showcase Damas’ diamond and gold new creations.

The other stores opened are: Damas 18K, Damas Les Exclusive, Paspaley Pearls, Tiffany & Co, Graff, Folli Follie and Leo Pizzo. The ninth store, Damas Italia, opened on the 20th of January and will house Italian brands such as IOSI, Porrati and Nouvelle Bague.

About Damas Stores in Dubai Mall:

Damas 18k: Offering well known international jewellery brands of wider appeal, in addition to regional brands and the Group’s own labels, this store is located in the GS 073 area and occupies 591 sq ft of area.

Les Exclusive: Offering highly exclusive jewellery and watches brands besides some of its in-house brands, this Damas stores is located in the G 278 area of Dubai Mall and is spread over an area of 3,279 sq ft.

Concept Shop:  Located in the GF-144 area it occupies 5,678 sq. ft. houses Damas’ own brand creations and some of the trendiest and upcoming jewellery brands.

Paspaley Pearls: This leading pearling pioneer of South Sea pearls, Paspaley is a name synonymous with the most beautiful pearls in the world. It’s located in the G 190 area spread across 1753 sq ft.

Tiffany & Co: You can discover this American style icon’s timeless elegance at the G 276 and G 277 area in its exclusive store occupying 3,614 sq ft of area.

Graff: Acclaimed as one of the foremost diamond jewellers in the world its collections are a superb culmination of the 4 C’s of a diamond. You’ll find Graff’s boutique of 1,493 sq ft area at the G 141 area in Dubai Mall.

Damas Italia: This Damas store is located in the GS 117 area of Dubai Mall occupying an area of 688 sq ft. Houses Italian brands such as IOSI, Porrati and Nouvelle Bague.

Folli Follie: Presenting a "full fashion concept" of branded, modern jewellery, watches and accessories you’ll find this Greek brand at the G 162 area of Dubai Mall in a store measuring 524 sq ft.

Leo Pizzo: This award winning Valenza based Italian designer offers stunning jewels for the discerning woman. Discover its marvels at the GS-003 area of Dubai Mall across 883 sq ft of floor space.