Charles & Colvard Named Jewelry Television Vendor of the Year

  Charles & Colvard Named Jewelry Television Vendor of the Year

Business Wire

MORRISVILLE, N.C. -- February 25, 2013

Charles & Colvard, Ltd. (NASDAQ Global Select Market: CTHR), the sole
manufacturer of created moissanite gemstones, The Most Brilliant Jewel in the
World^®, today announced that it has been named the Jewelry Television (JTV)
Vendor of the Year, an annual award bestowed upon the supplier who has been an
outstanding partner in all aspects of the business.

Jewelry Television Vendor of the Year Award Received by Charles & Colvard
(Photo: Business Wire)

Jewelry Television Vendor of the Year Award Received by Charles & Colvard
(Photo: Business Wire)

“Receiving this prestigious recognition from a top customer says a great deal
about the marketability and desirability of our moissanite gem to consumers
throughout the nation,” commented Randy N. McCullough, Chief Executive Officer
of Charles & Colvard, Ltd. “My thanks go to our entire Charles & Colvard team
for their continued commitment to outstanding performance. JTV is one of our
most valued customers, and we are proud to be able to bring our broad
portfolio of jewelry styles to help them better serve their consumers.”

“It is with great honor we award such an outstanding company, Charles &
Colvard, with the 2012 Jewelry Television - Gemstone GBU - Vendor of the Year
Award,” said Thomas J. Ahles, Director - Gemstone GBU-Jewelry Television.
“Charles & Colvard has shown an exceptional commitment to growing the business
in all areas. Through their partnership with JTV, we have seen considerable
growth in this business year over year. In addition to the core product, the
company partnered to introduce new concepts and colors, and has dedicated
resources in the form of a sales team and guest hosts to ensure the success of
this business. We are excited to have them as a business partner and look
forward to much more success in our future.”

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd., based in the Research Triangle Park area of North
Carolina, is the global sole source of moissanite, a unique, near-colorless
created gemstone that is distinct from other gemstones and jewels based on its
exceptional fire, brilliance, luster, durability, and rarity. Charles &
Colvard Created Moissanite^® and Forever Brilliant^® are currently
incorporated into fine jewelry sold through domestic and international
retailers and other sales channels. Charles & Colvard, Ltd. is headquartered
in Morrisville, North Carolina, and its common stock is listed on the NASDAQ
Global Select Market under the symbol “CTHR.” For more information, please
visit www.charlesandcolvard.com.

About Jewelry Television

As the largest retailer of loose gemstones in the world and one of the top
four electronic jewelry retailers in the United States, Jewelry Television^®
is realizing its mission since 1993 to open the world of fine jewelry and
gemstones to everyone, every day, and remains committed to offering the
largest selection of fine jewelry and gemstones at fair prices. For more
information, please visit www.jtv.com.

This press release contains forward-looking statements within the meaning of
Section27A of the Securities Act of 1933, as amended, and Section21E 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,”
“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, our dependence on consumer
acceptance and growth of sales of our products resulting from our strategic
initiatives; dependence on a limited number of customers; our current
wholesale customers’ potential perception of us as a competitor in the
finished jewelry business; general economic and market conditions, including
the current economic environment; dependence on Cree, Inc. as the current
supplier of the raw material; intense competition in the worldwide jewelry
industry; the financial condition of our major customers; risks of conducting
business in foreign countries; the pricing of precious metals, which is beyond
our control; the potential impact of seasonality on our business; our ability
to protect our intellectual property; the risk of a failure of our information
technology infrastructure to protect confidential information and prevent
security breaches; and possible adverse effects of governmental regulation and
oversight, in addition to the other risks and uncertainties described 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, 2011 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.

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Contact:

Company Contact:
Charles & Colvard, Ltd.
Timothy Krist, 919-468-0399, ext. 295
Chief Financial Officer
tkrist@charlesandcolvard.com
or
Investor Relations:
Taglich Brothers, Inc.
Christopher Schreiber, 800-383-8464
Investor Relations Counsel
cs@taglichbrothers.com