LJ International Inc. Special Committee Appoints Houlihan Lokey as Independent Financial Advisor

LJ International Inc. (NASDAQ: JADE), a leading colored gemstone and diamond jeweler with retail and wholesale businesses, today announced that the special committee of the Company's Board of Directors (the "Special Committee") has appointed Houlihan Lokey as its independent financial advisor.  As previously announced, the Company's Board of Directors formed the Special Committee to review and evaluate the August 13, 2012 non-binding proposal from Mr. Yu Chuan Yih, Chairman of the Board of Directors, President and Chief Executive Officer of the Company, and Urban Prosperity Holding Limited, an affiliate of FountainVest Partners, to acquire all of the outstanding ordinary shares of the Company not currently owned by Mr. Yih at a proposed price of $2.00 per ordinary share, in cash, subject to certain conditions (the "Proposal"). The Special Committee is considering the Proposal, as well as the Company's other strategic alternatives. No decisions have been made by the Special Committee with respect to the Company's response to the Proposal. The Special Committee has not set a definitive timetable for the completion of its evaluation of the Proposal or any other alternative and does not currently intend to See full press release