TUSTIN, CA -- (MARKET WIRE) -- November 16, 2006 -- Jewelry Exchange, one of the country's largest chain of jewelry stores, and the nation's leading independent direct diamond importer and jewelry manufacturer, announced today that most of their inventory of over 30,000 loose diamonds will be discounted 15% to make room for new shipments.

"We've made commitments to purchase large quantities of new diamonds from siteholders, but we are over-extended and over-stocked," according to a company spokesman. "So we are offering this once-in-a-lifetime opportunity, giving our customers a chance to save a tremendous amount of money off our already low prices." The spokesman added that the discount is perfect for holiday shoppers looking for a great gift at a substantial savings.

The Jewelry Exchange is the largest private importer of diamonds in America, and imports complete siteholder boxes -- the least expensive and most direct way of acquiring diamonds. Due to the enormous cost of these boxes, only a handful of diamond importers have the financial ability to conduct these transactions. The Jewelry Exchange also pays cash for these diamonds, which further reduces the cost. By contrast, many other dealers pay substantially more for their diamonds because they buy on credit, or are unable to buy large enough quantities to warrant volume discounts.

The loose diamond inventory is available for viewing at any of the Jewelry Exchange's nationwide retail locations, or by visiting the website at www.jewelryexchange.com

The Jewelry Exchange is owned by Goldenwest Diamond Corporation, and has been operating for over 30 years, doing business as The Jewelry Exchange in the Los Angeles suburb of Tustin, in the Chicago area in Villa Park, in the San Francisco Bay area in Redwood City, in the Washington, D.C. suburb of Bethesda, in the Boston suburb of Sudbury, in the Seattle suburb of Renton, in the Philadelphia community of Norristown, in the Denver suburb of Greenwood Village, in the Minneapolis-St. Paul area in Eagan, in Phoenix, Dallas, and in Tampa. The company operates as The Jewelry Factory in Livonia near Detroit, in the North Randall section of Cleveland, and in the New York metropolitan area in Hackensack. In Houston, the company operates The Jewelry Source.

For more information, or for directions to a store near you, call 1-800-441-0715 or go online at www.jewelryexchange.com.