Jacob Banda, president of the Diamond Dealers Club of New York (DDC), has announced that, Life Time Achievement Awards will be presented to three leading members of the international diamond business community, at the organization�s 75th Anniversary Celebration on May 16, 2006. The members receiving the honor will be Shmuel Schnitzer, President of the World Federation of Diamond Bourses, Israel, Sergei Oulin, Vice-President of Alrosa, Russia and Kaushik Mehta, Chairman of Eurostar, Belgium.

�The Diamond Dealers Club is especially pleased to bestow its highest honor on these outstanding leaders of our industry from key trading centers. Each honoree has contributed immeasurably to the success of the diamond business worldwide,� said Banda as he announcement the function details. Mr. Banda also announced that, at the 75th Anniversary Celebration, the DDC will receive the U.S. Department of Commerce�s Export Achievement Award and that special recognition will be paid to long-time DDC members.

The DDC�s 75th Anniversary Celebration will take place on Tuesday evening, May 16, at the spectacular Rainbow Room above New York City�s Rockefeller Center. �The prestigious location reflects how important this event is to its members, and the Achievement Awards ceremony will be a highlight of the evening,� said The President of DDC.