Thomas Pautz Named President of Charles & Colvard, Ltd. Wholesale Division

  Thomas Pautz Named President of Charles & Colvard, Ltd. Wholesale Division

Business Wire

MORRISVILLE, N.C. -- March 18, 2013

Charles & Colvard, Ltd. (NASDAQ Global Select Market: CTHR), the sole
manufacturer of created Moissanite gemstones, The Most Brilliant Jewel in the
World^®, is pleased to announce the promotion of Mr. Thomas Pautz to President
of our Wholesale Division. In his new position, Tom will be responsible for
overseeing the company's indirect sales department’s day-to-day operations,
including all aspects of account management and P&L responsibilities. Three
years ago, Tom joined Charles & Colvard Ltd. as the Vice President of Sales &
Marketing.

Thomas Pautz (Photo: Business Wire)

Thomas Pautz (Photo: Business Wire)

Tom’s genuine regard and wealth of knowledge is reflected by over 29 years’
experience in the Jewelry Industry. He has progressively moved into positions
with more responsibilities, amassing a proven record of accomplishments
beginning with an excellent customer focus and continuing with an enduring
commitment to enhancing the team. Given his broad range of experience, we are
confident that in his new role, Tom’s strengths and skills will greatly
enhance our pursuit of excellence. His dedication to building new business
will continue to be essential to Charles & Colvard’s long-term goals.

“We are very pleased to make this announcement; Tom has been a great asset to
the Charles & Colvard team, helping focus the direction of the company over
the past three years,” stated Randy N. McCullough, Chief Executive Officer of
Charles & Colvard, Ltd. “His knowledge, expertise and extensive background
from within the Jewelry industry will prove invaluable as we further expand
our reach and enhance the value of our Moissanite Gemstone.”

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.

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; our ability to fulfill orders on a timely basis; dependence on a
limited number of customers; our current wholesale customers’ potential
perception of us as a competitor in the finished jewelry business; dependence
on Cree, Inc. as the sole current supplier of the raw material; intense
competition in the worldwide jewelry industry; general economic and market
conditions, including the current economic environment; 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
 
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