Blue Nile Announces Resignation Of Chief Financial Officer And Appoints Vijay Talwar Interim Chief Financial Officer

SEATTLE, Nov. 18, 2010 (GLOBE NEWSWIRE) -- Blue Nile, Inc. (Nasdaq:NILE), the leading online retailer of diamonds and fine jewelry, today announced that Marc Stolzman has resigned from the role of Chief Financial Officer to pursue other interests, effective November 24, 2010. Additionally, the Company announced the appointment of Vijay Talwar, SVP and General Manager of International to the position of interim Chief Financial Officer. Mr. Talwar will continue to oversee our international business.

Mr. Talwar joined the Company in August 2010, as a Senior Vice President and General Manager of International. Prior to Blue Nile, he served as Chief Executive Officer of the William J. Clinton Foundation in India, where he provided strategic, financial and operational leadership to the fund and developed health care and sustainability programs across India and South Asia. In addition, Mr. Talwar was at Nike, where he held a number of executive leadership positions, including Chief Operating Officer for Nike's operations in Central Europe, Middle East and Africa, based in Amsterdam, The Netherlands from 2007 to 2008, and Senior Director and CFO of Global Apparel Strategy & Finance from 2003 to 2007. Prior to Nike, Mr. Talwar was a consultant at Bain & Company in San Francisco and Chicago for several years.  Mr. Talwar holds an M.B.A from the University of Chicago, a Master in Accountancy from Miami University, and a B.A. in Accountancy from the University of Findlay, in addition to CPA and CMA designations.

"As we move into the Holiday season, we believe we are well positioned to provide our customers with the highest quality products and an exceptional shopping experience. Vijay will be an excellent partner as we pursue our mission of building an iconic global brand," said Diane Irvine, the Company's Chief Executive Officer.

Forward-Looking Statements

This press release contains forward-looking statements that include risks and uncertainties, including, without limitation, all statements related to future financial and business performance, market opportunity and plans to grow our business. Words such as "expect," "anticipate," "believe," "project," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon our current expectations. Forward-looking statements involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to general economic conditions, our fluctuating operating results, seasonality in our business, our ability to acquire products on reasonable terms, our online business model, demand for our products, our ability to attract customers in a cost effective manner, the strength of our brand, competition, fraud, system interruptions, our ability to fulfill orders and other risks detailed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended January 3, 2010. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended October 3, 2010, which we expect to file with the Securities and Exchange Commission on or before November 12, 2010. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Blue Nile undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.