27 million from $6.kirksfolly.
"That's why we are so thrilled about our new website. Production manager, Pat Smith, tells
us, "We're demanding.

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Aside from http://www.01 from a year earlier,
reflecting the impact of additional shares issued from a recent private
placement, higher interest expenses and costs related to the expansion of
LJI's Chinese retail operation.03 cents per fully diluted share.
Introduced twenty-five years ago, the Kirks Folly line remains
unmistakable -- fairy, angel, moon and star motifs arrayed in lavish settings
of semi-precious stones, crystals, pearls, and chain rhinestones.A.com ), a service
of eMediaWire.

Most costume jewelry will incorporate synthetic or imitation gemstones, however natural gemstones are often used with the lessor metals.

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pugster.,
LJ International, Inc. For the near term , costs of our expansion into the Mainland
China retail market will slow growth in net income even as sales continue to
rise briskly, but we are confident that profit will once again grow at rates
comparable to sales growth, or faster, as the start-up costs are absorbed.com . Collections include an
extensive range of romance, fantasy, and storybook themes.

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ebay. Earnings per fully diluted share were down $0. The call will be hosted by Betty Ho, Vice President of Corporate
Development.

Sites that offer strictly wholesale jewelry should submit to /Business: Consumer Goods and Services: Jewelry: Wholesale and Distribution.

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Pugster Inc. Offers Italian Charm Accessories Bonus for Wholesale Customers Only

PASADENA, Calif. 108
info@pugster.4 million above the top range of earlier guidance for the quarter,
and it was 20% above the $14.
Gross profit for the first quarter was $3.62 million on December 31, 2004.02
to $0.

About LJ International
LJ International , Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS , EXCEPT SHARE DATA)

As of
As of December
March 31 31
2005 2004
(Unaudited)
ASSETS US$ US$
Current assets:
Cash and cash equivalents 1,535 3,228
Restricted cash 7,266 6,393
Trade receivables, net of allowance for
doubtful accounts (US$284 as of March
31,2005 and December 31, 2004) 12,148 15,653
Inventories 44,144 36,629
Prepayments and other current assets 1,480 2,539
Total current assets 66,573 64,442
Properties held for lease, net 1,438 1,452
Property, plant and equipment, net 5,107 4,673
Due from related parties 491 491
Goodwill, net 1,521 1,521
Investment securities, net (Restated, see
Note 1) -- 1,792

Total assets 75,130 74,371

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Bank overdrafts 2,919 607
Notes payable, current portion 2,993 2,487
Capitalized lease obligation, current
portion 22 19
Letters of credit, gold and other loans 20,244 21,911
Embedded derivative 1,462 1,462
Trade payables 7,413 9,553
Accrued expenses and other payables 3,588 4,631
Income taxes payable 104 68
Deferred taxation 87 87
Total current liabilities 38,832 40,825
Other payables, non-current 66 58
Total liabilities 38,898 40,883

Minority interest 109 --

Stockholders' equity
Common stocks, par value US$0.com

com ). The bar is set high, and every one of our products must
meet and exceed strict standards. and the U.

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Net income is expected to come in at a range of $250,000 to $350,000, or $0. It trades on
the Nasdaq National Market under the symbol JADE.

Forward looking statement: Except for the historical information, the
matters discussed in this news release may contain forward-looking statements,
including, but not limited to, factors relating to future sales.02 $0.

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pugster.com with a total feedback of almost 900,000. Most of the 20% increase was due to
non-China sales, but we now have three Chinese retail outlets open -- with
four more to come in and these have started to make a contribution to
overall revenue.m.
Actual results may vary significantly based on a number of factors, including,
but not limited to, uncertainties in product demand, the impact of competitive
products and pricing, changing economic conditions around the world, release
and sales of new products and other risk factors detailed in the company's
most recent annual report and other filings with the Securities and Exchange
Commission.

If the site offers a variety of products, choose the category which best matches the site's overall theme.

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Orders
received before 2:00pm PST normally ship the same day.
The company releases exciting new charm bracelet links and other fashion
jewelry products every week (http://www.62 million. Ultimately it 's the customer who has the
final say, and I'm proud to report the response has been overwhelmingly
positive.K.

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Pugster carries over 10,000
Italian charm designs starting at just 30 cents, as well as all new fashion
rings, brooches, X2 Pugster brand charms, licensed charms, Walt Disney, Disney
Resort, and "It's Happy Bunny" Italian charms -- a Pugster exclusive! Pugster
usually ships orders within one business day of receiving an order.pugster.pugster. Earnings per fully diluted share
over that time decreased to $0.
If you would like to be added to LJI's investor email lists please contact
Haris Tajyar with Investor Relations International athtajyar@irintl., and online at http: //www.net

This release distributed by PRWEB (http://www.

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Pugster's starter bracelets and key chains are made from high-quality
stainless steel and each starter Italian charm bracelet comes with 18 starter
links.com/page/P/CTGY/rings), belly rings, beaded stretch charm
bracelets and pendants.
For more information about becoming a wholesaler of Pugster Italian
Charms, please visit http://www. (LJI) (Nasdaq: JADE), one of the fastest-growing
jewelry companies in the world, today reported financial results for the first
quarter, ending March 31, 2005.5 million reported in the first quarter of 2004. The gross margin for the latest quarter improved
sequentially from 17% in the fourth quarter of 2004. The Company showed an operating
income in the first quarter of 2005 totaling $31,000, compared to operating
income of $572,000 in the first quarter of 2004. The conference call is accessible live via phone by dialing
888-338-6461, or 973-935-8509 for international callers, and asking for the LJ
International call.com.S. Kirks Folly offers a wide selection of earrings ,
bracelets, necklaces, pins, charms, watches, and pendants., at QVC
U.

Please do not submit to more than one category, duplicate and mirror sites will be deleted.

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Selling, general and
administrative expenses were $3., engaged in designing, branding, marketing and distributing
a full range of jewelry .com .

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is one of the largest online sellers of Italian charms and
adds new products every week.

LJ International Reports 20% Sales Gain in First Quarter

''

Balance Sheet Remains Strong
LJI's balance sheet remained in its historical ranges, with cash and cash
equivalents (including restricted cash) totaling $8.03

Weighted average number of shares used

in calculating diluted earnings per
share 13,735 ,652 11,904,788

Note 1: On January 1, 2005, the Company paid $2,827,500 for new issuance
of 3,900 common stock of Goldleaves International Limited (GIL),
in which the Company had 20% equity interests and is classified
as investment security as of December 31, 2004."

About Kirks Folly
Kirks Folly is a leading manufacturer and global distributors of branded,
fantasy jewelry, accessories, home decor and collectibles, plus Kirks Folly
DreamKeeper Collection fantasy-theme clothing.kirksfolly. Kirks Folly is
headquartered in Providence, Rhode Island.

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com, Pugster or
pugster888 (http://members.com

Revenue Beats Forecast as Jeweler's China Expansion Continues

HONG KONG and LOS ANGELES, Calif. The Company then
became the major stockholder holding 98% equity interests in GIL,
which became a subsidiary of the Company.

And sites that manufacture jewelry for the jewelry trade should submit to Business: Consumer Goods and Services: Jewelry.

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This was
about $1 . This represented the fifth consecutive quarter in which LJI recorded
sales gains of 20% or more year-over-year. This compares to gross profit of $3.
As a result, primarily of a sharp increase in interest expenses to
$324,000 from $182,000 in 2004, net income in the first quarter of 2005 fell
to $249,000 from $355,000 a year earlier. Restricted cash rose to
$7.


LJ INTERNATIONAL INC. The
site features a new user interface, enhanced slide-show format, expanded
search capabilities, and safe shopping features. Our new website is an extension and reflection of the Kirks Folly
customer-centered policies -- we've made collecting our beautiful and
beautifully crafted products even more exciting and fun.

This category is just for costume jewelry made with vermeil, gold plate, silver plate, sterling silver and vermeil or other base metals such as copper or brass.

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02 from $0.03.54 million from $3.ljintl.

Kirks Folly International Jewelry Manufacturer Debuts Redesigned Online Boutique

Their signature
motifs also appear in the company's clothing , accessory, home decor, and
collectible lines.S.prwebdirect.

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Company Provides Second Quarter Guidance
LJI projects revenues for the second quarter to come in at a range of
$17. (LJI) is a publicly-owned company, based in Hong
Kong and the U.com

AT INVESTOR RELATIONS INTL:
Haris Tajyar
Managing Partner
Tel: +1-818-382-9702
Email: htajyar@irintl .

negrin zirconia

com/page/P/CTGY/italian-charm-bracelets) for free, a
$180 retail value, to each wholesale customer who places an order during the
period of 7/25/05 to 8/24/05. Revenue rose 20% over the first quarter of
2004.8 million on March 31,
2005, compared to $9.

Conference Call Information
The Company will conduct a conference call today, May 12, 2005 at 11:00
a.
For more information on LJI, go to its Web Site at http://www.03

Diluted $0.I.
The Kirks Folly website offers customers a seamless "browse/shop"
experience via a new and easy-to-use interface. Customers can
quickly access our extensive inventory, shop effortlessly , post comments and
questions, and be assured that their privacy and security are guaranteed,"
states Jenniefer Kirk.

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, a leading fashion
jewelry company, is giving away a set of 3 each of their newest and most
popular starter accessories for Italian charms and bear display case
(http: //www.com/page/P/CTGY/brooch), sterling silver rings
(http://www.com/aboutme/pugster888) is currently the
#1 volume seller in eBay.65 million, for a gross margin
of 21%.
LJI Chairman and CEO Yu Chuan Yih commented, ''We are pleased to see
another robust increase in sales, reflecting rising demand for our major
customers in the U.39 million during the first quarter, while unrestricted
cash and cash equivalents fell to $1. Long-term
debt was minimal and little changed, rising to $66,000 from $58,000. EST to review the first quarter 2005 financial results and for a Q+A
session.

For press inquires contact:
Mop Prime of Smith-Felver + Prime, Ltd.

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pugster.
Revenue for the first quarter of 2005 totaled $17. Please call at least 10 minutes prior to the start time ,
or hear the call live over the Internet by logging on to the Company's Website
at http://www . In addition, 125+ new
products have been added to the company's extensive inventory of fairy
jewelry , angel jewelry, fantasy accessories, and star and moon jewelry.S.
215-794-8937
mopprime@comcast .

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com .
Synonymous with innovative design and trend setting vision, the family
owned and operated company has built a reputation for a commitment to quality
workmanship and customer satisfaction .

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, Pugster, Inc.
Styles of the charm links include laser links, photo links, Disney links,
exclusive X2 and much more. New themes of Italian charms include Story Book
and Bible Story charms, patriotic designs, family designs, and birthstones
(http://www.44 million.44 million, or 24%, in the first
quarter of 2004. and abroad. LJI distributes
to fine jewelers, department stores, national jewelry chains and electronic
and specialty retailers throughout North America and Western Europe, with a
growing retail presence in China through stores and e-shopping sites.


LJ INTERNATIONAL INC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

Three months ended
March 31
2005 2004
US$ US$
(Restated ,
see Note 1)

Operating revenue $17,439 $14,497
Costs of goods sold (13,789) (11,061)
Gross profit 3,650 3,436

Selling, general and administrative expenses (3,619) (2 ,864)

Operating income 31 572

Other revenue and expense
Other revenues 36 32
Share of results of investment securities
(Note 1) 215 (66)
Impairment loss on goodwill (Note 1) (1,493) --
Interest expenses (324) (182)

(Loss ) Income before income taxes and
extraordinary gain (1,535 ) 356
Income taxes (102) (1)

(Loss) Income before extraordinary gain (1,637) 355
Extraordinary gain on negative goodwill
(Note 1) 1,886 --

Net income 249 355
Earnings per share:
Basic $0.01 each,
Authorized - 100 million shares,
Issued -
13,109,658 shares as of March 31, 2005;
12 ,304,658 shares as of December 31, 2004 131 123
Additional paid-in capital 25,784 23,382
Accumulated other comprehensive loss (175 ) (151)
Unearned compensation (37) (37)
Retained earnings 10,420 10,171
Total stockholders' equity 36,123 33,488

Total liabilities and stockholders' equity 75 ,130 74,371


For further information:

AT LJI:
Betty Ho
Vice President, Corporate Development
Tel: +852-2170-0001
Email: betty@ljintl.

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pugster.com /page/P/CTGY/new-jewelry).com/page/P/CTGY/birthstone-italian-charms), as well as a
fashion jewelry line of rhinestone and vintage style brooches
(http://www.com/page/P/CTGY/who.

Contact: Jonni Taylor
626-356-1881, ext.S. Leader in Fantasy Accessories and Fairy Jewelry Introduces 125+ New Products

PROVIDENCE, R. Themes have
grown to include mermaids, dragonflies , and an enchanting lineup of movie and
storybook characters.

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New styles of starters include blue , red, green, purple, and gold
trim, as well as the traditional silver color.
Wholesale customers have access to a full time Pugster Account Manager to
assist with orders and to answer questions .pugster.5 to $18 million, representing an increase of 7% to 10% from a year ago. It has built its global business, currently one of
the fastest-growing in the jewelry industry, on a vertical integration
strategy and an unwavering commitment to quality and service. Its
product lines incorporate all major categories sought by major retailers,
including earrings, necklaces, pendants, rings and bracelets . Now,
over 700 pieces of fun-fantasy costume, couture, and handcrafted jewelry as
well as a full line of fantasy-theme clothing, accessories, and collectibles
are available online. The Company's
products are available at retail locations in the U.K. and QVC U.

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We
also see sales continuing to expand in our older markets, with no significant
clouds on the horizon.23 million. These
forward -looking statements may involve a number of risks and uncertainties., Kirks Folly, global fantasy
jewelry and accessories manufacturer, today announced the launch of its
redesigned and expanded online boutique ( http://www. Visitors can access product
information and availability, view detailed full-color photos, search
inventories, and find retail locations.

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Pugster, Inc.
The Company indicated that the sharp rise in sales was due both to higher
orders from existing and new customers in all markets, along with a modest
contribution from sales at newly opened outlets of LJI's ENZO subsidiary in
China.ljintl.02 $0.

Another common term used to describe this jewelry is: faux jewelry.

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---

- - kjjkjk

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