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Caroline Witherspoon

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MAUI DIVERS JEWELRY CONTINUES RAPID EXPANSION

WITH OPENING OF FIVE NEW STORES

HONOLULU (September 21, 2006) - Maui Divers Jewelry, Hawaii's largest jewelry retailer and manufacturer, continues to expand rapidly with the opening of five new stores in Hawaii. Four of the stores will be located on Oahu; one of the stores on Maui, bringing the company's total number of stores to 65.

The new stores include:

- Maui Divers Jewelry at the Honolulu International Airport ~ this 850-square-foot store, located in the main concourse, opened on September 1, 2006

- Maui Divers Jewelry at Queen Ka'ahumanu Center on Maui ~ this 650-square-foot store is scheduled to open October 2, 2006

- Maui Divers Jewelry at International Marketplace ~ this 1,200-square-foot store will replace a smaller Maui Divers Jewelry store within the International Marketplace and is scheduled to open October 6, 2006

- Maui Divers Jewelry at Beach Walk ~ this 1,000-square-foot store is slated to open on December 4, 2006

- Island Pearls at Beach Walk ~ this 1,000-square-foot-store is also scheduled to open on December 4, 2006

"Maui Divers Jewelry is pleased to announce the opening of these five new stores in Hawaii," said Bob Taylor, president & CEO. "We've been lucky enough to capitalize on prime locations that we're confident will only add to our total sales as we have not seen any cannibalization of sales at existing stores when we open new ones." In fact, Maui Divers Jewelry experienced an all-time record month in sales in July 2006.

Established in 1959, Maui Divers owns and operates 65 concept locations-Maui Divers Jewelry, Island Pearls, and Pick-A-Pearl-on all major Hawaiian Islands and in San Diego and Orange, California; Las Vegas, Nevada; and Orlando, Florida. Its world-famous Maui Divers Jewelry Design Center is located at 1520 Liona Street in Honolulu and is open daily from 8:30 a.m. to 5:30 p.m. For more information, call toll free (800) 253-6016 or visit www.mauidivers.com.