Grib Diamonds NV, a 100% owned subsidiary of OAO LUKOIL is preparing to host its first rough diamond auction on September 23, 2014, in Antwerp Belgium. The diamonds offered will be from the diamond mine named after V. Grib in Arkhangelsk region (Russian Federation). Viewings from September 15, 2014, in Antwerp, Belgium and an online auction via a sophisticated, state-of-the art auction platform that has been adapted to serve the company's objectives, will be held. The auction will be a multi-split, ascending clock auction with the clearing price set by the highest losing bid.

Dr. Martin Leake, Head of Sales for Grib Diamonds said, "Grib Diamonds' aims at maximum transparency. All participating customers get a full data pack with the details of the assortments and a quality analysis. In the Grib Diamonds auction model, we let the market set the price, since that creates a win - win situation for both the seller and the buyer".

The company is asking those interested in becoming a Spot Market Customer of Grib Diamonds NV to email the company at info@gribdiamonds.be. Participation in the auction is via invitation only.