Charles & Colvard Appoints Dr. Charles D. Lein to Board of Directors

MORRISVILLE, N.C.--(Business Wire)--
Charles & Colvard, Ltd. (NASDAQ: CTHR), the sole manufacturer of moissanite
jewels, The Most Brilliant Jewel in the World, announced today the appointment
of Dr. Charles D. Lein to the company`s board of directors. Dr. Lein, retired
President and Chief Operating Officer of Stuller, Inc., a world leader in
jewelry manufacturing and wholesaling, has more than 27 years of experience in
the jewelry, wholesale and retail industries. Dr. Lein`s appointment increases
the size of the company`s board of directors to five.

George R. Cattermole, Chairman of the Board, commented, "Dr. Lein`s extensive
qualifications, leadership skills, proven business acumen and in-depth
understanding of the global jewelry industry, markets, and customers make him a
very unique and valued addition to our board. We welcome Dr. Lein to our team
and look forward to working with him to expand our markets worldwide and grow
our business."

Charles & Colvard`s strategy is to market moissanite very broadly around the
world as a jewel to be desired by everyone for every occasion.

Prior to Stuller, Inc., Dr. Lein spent 12 years in the jewelry industry as
Chairman, President and CEO of Black Hills Jewelry Manufacturing Co. in Rapid
City, South Dakota, where he was responsible for all operations, including the
development of substantial domestic and international markets and account
relationships with thousands of independent jewelry retailers and almost all
major retail jewelry chains. Prior to the jewelry industry, Dr. Lein held
various positions in education, including Dean of the College of Business at
Boise State University and became the youngest state university president in the
United States, when he was appointed President of The University of South Dakota
in 1977.

Dr. Lein has served on a wide range of business and education boards including
Albertson`s Inc., where he served for 28 years.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (NASDAQ: CTHR), based in the Research Triangle Park area
of North Carolina, is the global sole source of lab-created moissanite, a
unique, near-colorless jewel that is distinct from other gemstones and jewels
based on its exceptional fire, brilliance, luster, durability and rarity.
Charles & Colvard created Moissanite® is currently used in fine jewelry sold
primarily through domestic and international retailers. For more information,
please access www.moissanite.com or www.charlesandcolvard.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements expressing expectations
regarding our future and projections relating to products, sales, revenues and
earnings are typical of such statements and are made under the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements about our plans, objectives,
representations and contentions and are not historical facts and typically are
identified by use of terms such as "may," "will," "should," "could," "expect,"
"plan," "anticipate," "believe," "estimate," "predict," "potential," "continue"
and similar words, although some forward-looking statements are expressed
differently.

All forward-looking statements are subject to the risks and uncertainties
inherent in predicting the future. You should be aware that although the
forward-looking statements included herein represent management¹s current
judgment and expectations, our actual results may differ materially from those
projected, stated or implied in these forward-looking statements as a result of
many factors, including, but not limited to the recent downturn in the worldwide
economy and its ongoing impact on our business and the business of our customers
and suppliers, any continued trends in the general economy that would adversely
affect consumer spending, a further decline in our sales, dependence on consumer
acceptance of the Company¹s products, dependence on Cree, Inc. as the current
supplier of most of the raw material, ability to develop a material second
source of supply, dependence on a limited number of customers, risks of
conducting operations in foreign countries, dependence on third parties,
continued listing of our common stock on the NASDAQ Global Select Market, the
impact of significant changes in our management on our ability to execute our
business strategy in the near term and the impact of adverse resolution of legal
proceedings on our operating results or financial condition. These and other
risks and uncertainties, many of which are addressed in more detail in our most
recent Annual Report on Form 10-K filed with the Securities and Exchange
Commission, could cause our actual results and developments to be materially
different from those expressed or implied by any of these forward-looking
statements. We undertake no obligation to update or revise such statements to
reflect new circumstances or unanticipated events as they occur except as
required by the federal securities laws, and you are urged to review and
consider disclosures that we make in the reports that we file with the
Securities and Exchange Commission that discuss other factors relevant to our
business.

Charles & Colvard, Ltd.
Richard A. Bird, CEO
919-468-0399, ext. 224
rbird@charlesandcolvard.com
or
Investor Relations:
Deborah K. Pawlowski
Investor Relations
716-843-3908
dpawlowski@keiadvisors.com

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