Charles & Colvard to Exhibit Moissanite at Hong Kong Jewellery and Gem Fair

MORRISVILLE, N.C., Sep 22, 2009 (BUSINESS WIRE) --
CTHR | Quote | Chart | News | PowerRating -- Charles & Colvard, Ltd. (NASDAQ: CTHR),
the sole manufacturer of moissanite jewels, The Most Brilliant Jewel in
the World(TM), announced today that it will be exhibiting its moissanite
jewels at the Hong Kong Jewellery and Gem Fair September 21-27, 2009 at
the Hong Kong Convention and Exhibit Centre, Hall 1, Booth Nos. 1C402,
1C404, 1C501, 1C503, 1 Expo Drive in Wanchai. The Hong Kong Jewellery
and Gem Fair is one of the top three jewelry fairs in the world and is
recognized as Asia's largest.

"We are excited to present Charles & Colvard Created Moissanite jewels
at the Hong Kong Jewellery and Gem Fair. The fair will provide the
company with the opportunity to meet customers face-to-face and enable
buyers to see the exceptional brilliance of moissanite," stated George
R. Cattermole, Chairman of the Board and Interim Chief Executive Officer
of Charles & Colvard.

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.

Charles & Colvard and Charles & Colvard Created Moissanite are
registered trademarks of Charles & Colvard, Ltd.

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, or the
Securities Act, and Section 21E of the Securities Exchange Act of 1934,
as amended, or the Exchange Act. 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," "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
management's 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 our 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 for the sales and marketing of
our products to end consumers, continued listing of our common stock on
the NASDAQ Global Select Market, and the impact of significant changes
in our management on our ability to execute our business strategy in the
near-term, in addition to the other risks and uncertainties described in
more detail in our filings with the Securities and Exchange Commission,
or the SEC, including our Annual Report on Form 10-K for the fiscal year
ended December 31, 2008 and subsequent reports filed with the SEC.
Forward-looking statements speak only as of the date they are made. 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
SEC, that discuss other factors relevant to our business.

SOURCE: Charles & Colvard, Ltd.

Charles & Colvard, Ltd. 
Company Contact: 
Timothy Krist, 919-468-0399, ext. 295 
Chief Financial Officer 
tkrist@charlesandcolvard.com 
or 
Investor Relations: 
Fran Barsky, 919-244-7357 
fbarsky@charlesandcolvard.com

For full details on Charles & Colvard Ltd (CTHR) CTHR. Charles & Colvard Ltd (CTHR) has Short Term PowerRatings at TradingMarkets. Details on Charles & Colvard Ltd (CTHR) Short Term PowerRatings is available at This Link.