'TIS THE SEASON TO BE DAZZLING
Jewelry Designer Josephine Lee To Launch New “Moissanite by Joalan” Line Live On HSN

FOR IMMEDIATE RELEASE

(New York) November 14, 2007 - In time for holiday shopping, jewelry designer Josephine Lee, owner of Joalan Design, will unveil her newest line "Moissanite by Joalan" exclusively on HSN. She will be introduced and joined by Bob Thomas, CEO of Charles & Colvard, Ltd., to showcase her dazzling moissanite line and to also discuss how the unique combination of price and beauty make each jewelry style an "affordable luxury" for all. The new collection of moissanite jewelry will debut exclusively on HSN and www.HSN.com on November 20th.

Josephine Lee, a GIA certified jewelry designer, has always had a zeal for jewelry design having grown up in Taiwan where she designed most of her own jewelry. A Chinese American now living in Los Angeles, she established Joalan Design in 1998. From conception her idea was to use moissanite to establish a brand of jewelry which will set a standard for laboratory created gemstones in the 21st century. Josephine sees her "Joalan" brand being positioned as fine jewelry and feels her company is a product of love, dreams and above all a passion for the industry.

Bob Thomas, chief executive officer of Charles & Colvard, Ltd. says, "We are excited to unveil Joalan's latest moissanite designs along side Josephine Lee on HSN. Josephine designs every piece of jewelry with our core customer in mind, the self-purchasing woman, and these new pieces demonstrate the incredible brilliance, value, style and beauty that is moissanite."

The "Moissanite by Joalan" collection will include rings, earrings and pendants all set in 14kt. gold with prices ranging from $499.00 to $3,499.00. The entire new collection will premiere on HSN on November 20th at 1:00 a.m, 10:00 a.m., and 9:00 p.m. (all times EDT) and will also be available at www.hsn.com.

For more information about moissanite and Charles & Colvard Ltd., visit www.moissanite.com or contact Jenn Blum at 212.620.0356 ext. 208, or jblum@kinneyandkinsella.com.

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. Currently used in fine jewelry, Charles & Colvard created Moissanite™ is primarily marketed to the self-purchasing woman as the perfect reward or indulgence for a woman celebrating her achievements, whether personal or professional, big or small. For more information, please access www.charlesandcolvard.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E 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," "potential," "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 Company's ability to manage growth effectively, dependence on Cree, Inc. as the current supplier of the substantial majority of the raw material, ability to develop a material second source of supply, dependence on a limited number of jewelry manufacturing customers, dependence on continued growth and consumer acceptance of the Company's products, in addition to the other risks and uncertainties described in more detail in our most recent annual report on Form 10-K filed with the Securities and Exchange Commission. 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 Securities and Exchange Commission that discuss other factors relevant to our business.

About HSN
HSN originated the electronic retailing concept in 1977 and has since evolved into a global multi-channel retailing giant, offering thousands of unique products in fashion, beauty, home, jewelry and electronics. HSN's product offerings can be found across a number of retailing platforms ranging from TV, where HSN reaches 89 million U.S. households and is now the 4th largest cable television network in the U.S.; the Internet, through its easy-to-use Web site, www.hsn.com,; and catalogs. HSN offers a fine line of Moissanite jewelry online and on periodic TV broadcast shows.

###