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Charles & Colvard Names Teshler Inc. as Marketing Agency of Record

Charles & Colvard, Ltd. (NASDAQ: CTHR), the sole manufacturer of moissanite jewels, The Most Brilliant Jewel in the World™, announced today the appointment of Teshler Inc. as its marketing agency of record.

“We are pleased to be working with Teshler this year as part of our brand team,” said Randy N. McCullough, President and Chief Executive Officer of Charles & Colvard. “They have a stellar track record of delivering innovative brand strategies that achieve results.”

Teshler Inc. is an Austin, Texas based consulting and creative services firm that specializes in developing targeted business strategies using cutting-edge technology and high-impact design for clients primarily in the jewelry, technology, medical, land development and financial sectors.

Since 1997, Teshler has worked with and for many of the top 10 jewelry retailers in the U.S. either as agency of record or on specific brand strategies. On the manufacturing side, Teshler focuses on strategic business-to-business branding and distribution solutions for national and international jewelry manufacturers and DTC siteholders.

“Luxury goods spending is traditionally the last market to rebound after the economy takes a tumble like this past year, as people reign in their discretionary spending,” said Yuri Teshler, President and co-founder of Teshler Inc. “We believe that makes a unique product like moissanite and a company like Charles & Colvard well-positioned to take advantage of a more budget conscious consumer who still wants that fine jewelry experience.”

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, 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.

Contacts:

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

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