DE BEERS CONSOLIDATED MINES LIMITED
(Incorporated in the Republic of South Africa)
(Company registration number 1888/000007/06)
DE BEERS CENTENARY AG
(Incorporated under the laws of Switzerland)
(collectively the De Beers Group)
The De Beers Group ("De Beers") and LVMH Moet Hennessy Louis Vuitton ("LVMH")
announced that the European Commission has opened a Phase II investigation into
their proposal, originally announced on 16 January 2001, to establish an
independently managed company to retail diamond jewellery under the De Beers
name.
De Beers and LVMH appreciate that the Commission considers it necessary to take
additional time to consider fully all relevant matters before it comes to a
final decision. They will continue to assist the Commission in its
investigation which is required to be completed within an additional four
months.
Both parties remain fully committed to the implementation of the project which,
they believe, offers exciting opportunities for the development of a new retail
operation that De Beers and LVMH believe will foster competition in the retail
of diamond jewellery.
19 April 2001
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