LOOKS LIKE LOVE
Unique Jewel with Over Two Times the Fire of Diamond Heats Up Valentine's Day

FOR IMMEDIATE RELEASE

Media Contact: Renae Placinski, North Shore Public Relations, (847) 945-4505 or renae@northshorepr.com

January 22, 2008 – The classic one-dozen roses, a box of chocolates, dinner and a movie. These typical Valentine's Day treats are nice, but they're just that—typical. Chances are, women will want to know that their "special someone" has taken the time to choose something truly unique for the gift that represents their love.

This Valentine's Day, there's a new gift that will put a smile on her face. Moissanite, a brilliant jewel created exclusively by Charles & Colvard, certainly looks a lot like love. How? It shares many of the same characteristics associated with this beautiful sentiment, such as:

Passion—Sparks flew the very first time you looked into each other's eyes. Moissanite has two times the fire of a diamond, and is certain to heat up your feelings for each other once again.

Uniqueness—No one has the same love you do, and no one can understand or feel exactly what you do for each other. Moissanite is unlike any gemstone. With its brilliance and shine, it's in a category all its own.

Versatility—Just like your significant other looks just as good in a T-shirt and jeans as she does in evening wear, moissanite is a near-colorless jewel that pairs perfectly with any ensemble.

Quality—Your mate possesses qualities you value and cherish. Moissanite's quality is undeniable. With a certificate of authenticity, there are no doubts that moissanite is a valuable jewel to be treasured.

Practicality—Even with all the romantic moments, sometimes just knowing your better half gets along with your friends or fits in with your family makes you love her all the more. Moissanite sparkles and shines, but it's also an affordable gift that will fit within your budget.

"Awareness of moissanite's beauty, quality and value is rising," says Charles & Colvard President and Chief Marketing Officer Dennis M. Reed. "A gift of moissanite on Valentine's Day is a smart gift—not only is it romantic, it's a gift that will last for years to come."

Moissanite jewelry is available in a wide variety of settings and styles, so you can choose the look that best suits the special woman in your life. Truly brilliant, long-lasting and one-of-a-kind, moissanite is a jewel as unique as your love.

To learn more about Charles & Colvard created Moissanite, or to find a moissanite retailer near you, visit www.moissanite.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.

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