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Harry Winston Diamond Corporation Reports Fiscal 2012 Fourth Quarter And Year-End Results (1)

For the luxury brand segment, the Company is targeting a compound annual revenue growth in the mid-teens, a gross margin target in the low 50% range, and an operating profit margin target in the low to mid-teens by fiscal 2016.  The current salon growth target is to expand to approximately 35 directly operated salons, 15 licensed salons, and to grow to 300 wholesale timepiece doors by fiscal 2016.

Conference Call and Webcast Beginning at 8:30AM (ET) on Thursday, April 5, the Company will host a conference call for analysts, investors and other interested parties. Listeners may access a live broadcast of the conference call on the Company's investor relations web site at http://investor.harrywinston.com or by dialing 800-510-9691 within North America or 617-614-3453 from international locations and entering passcode 22046474.

An online archive of the broadcast will be available by accessing the Company's investor relations web site at http://investor.harrywinston.com. A telephone replay of the call will be available one hour after the call through 11:00PM (ET), Thursday, April 19, 2012 by dialing 888-286-8010 within North America or 617-801-6888 from international locations and entering passcode 87878793.

About Harry Winston Diamond Corporation   Harry Winston Diamond Corporation is a diamond enterprise with premium assets in the mining and retail segments of the diamond industry. Harry Winston supplies rough diamonds to the global market from its 40 percent ownership interest in the Diavik Diamond Mine.  The Company's luxury brand segment is a premier diamond jeweler and luxury timepiece retailer with salons in key locations, including New York, Paris, London, Beijing, Shanghai, Hong Kong, Singapore, Tokyo and Beverly Hills.

The Company focuses on the two most profitable segments of the diamond industry, mining and retail, in which its expertise creates shareholder value. This unique business model provides key competitive advantages; rough diamond sales and polished diamond purchases provide market intelligence that enhances the Company's overall performance.

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