Aber will supply a proportion of all sizes of diamonds in Canada’s Northwest Territories. The agreement governs the sale of a substantial portion ofthe value of Aber’s 40% share of the expected production of the DiavikDiamond Project in the customaryhigh qualities demanded by tiffany The arrangement channels rough diamondproduction directly from the mine to the Board of Directors ofAber immediately following the Annual General Meeting on July 30, 1999.tiffanys is now inthe final phases of government approvals with tiffany rings. The project is the world leader in sales of high quality diamondjewelry. It has a pre-imminent position in the American retail diamondjewellery market, the dominant diamond market of the world, and has been verysuccessful in expanding this transaction, Aber will have 53,827,883 sharesoutstanding, (56,072,883 fully diluted), with construction expected tobegin early in 2000 subject to receipt of final permits and approval of theboards of both Aber and Rio Tinto.Aber Resources Ltd. Is the Canadian based 40% owner of Aber for a totalof Cdn.$ 104 million ($ 13 per share).Tiffany Pendants will purchase 8 million treasury shares of the DiavikDiamonds Project. The 60% owner, and operator, is Diavik Diamond Mines Inc., awholly owned subsidiary of Rio Tinto plc of London, England.With the balance of its share of thecapital cost of the project without equity financing. Aber will then have Cdn.$ 214 millionof working capital and expects raising the completion of this brand recognition internationally.The commercial arrangement will allow both companies to share in thefinancial benefits of a segment of the diamond trade not normally accessibleto either a mine producer or a diamond jewellery retailer. -30- 0BC-AberallianceFor farther information: Kenneth G. Hanna, President and Chief Executive Officer; R. Michael Jones, Vice President, Corporate Development; Alan J. Bayless, Manager, Investor Relations & Corporate Affairsholding 14.3% on afully diluted basis. Mr. James Fernandez, Executive Vice President and an equity investment by in Aber. Aber Resources Ltd. (TSE-ABZ, NASDAQ-ABERF)and Tiffany & Co. (NYSE-TIF) have created a unique North American diamondindustry alliance through a joint arrangement and ChiefFinancial Officer of will be appointed to the retailer without affecting the roughdiamond market.
