Abazias.com Reports 63% Increase in Gross Profit

GAINESVILLE, Fla.--(BUSINESS WIRE)--May 24, 2005--Abazias ( ABZS - news ) is pleased to announce a record quarter for the period ending March 31, 2005. "Abazias.com has enjoyed a 63% increase in gross profit," states Oscar Rodriguez, CEO of Abazias.com. "All indications signal a thriving company and a very profitable holiday season."

Abazias.com second quarter sales were $413,000. Despite this lower figure from the same period last year, gross profit was up 63%. The lower sales were a result of staffing changes. The gross profit increase was due to more sophisticated levels of margin mix. In addition, the general and administrative expenses for the quarter were reduced by 89% to $91,790 from $834,269 from the same period in 2004. This 89% decrease in expenses is attributed to a significant decrease in stock expensing. These significant results indicate that profitability is within reach, as evidenced by the net loss of only $27,370. For more information regarding the results, please review the most recent 10Q filing available online.

Activities for 2005 include aggressive investor relations through professional associations including SmallCapVoice.com and Friedland Capital, Inc. groups. Additionally, Abazias continues to promote the company through consumer public relations and strategic marketing alliances including a current promotion with Frommer's Guides and Hasting's Bookstores.

Abazias.com has created a strong customer following based on customer service and site innovations that let shoppers create their own jewelry. In addition to delivering quality diamonds at wholesale prices, Abazias.com is also a full-service jeweler offering a large selection of settings for stones purchased.

Abazias.com features one of the largest certified loose diamond databases in existence with a database of over 60,000 diamonds, valued at over $50 million. All of the Abazias.com diamonds are GIA, AGS or EGL certified. Abazias.com offers the "Couples Diamond®" which is required to meet even higher standards for cut, clarity and dimensions. Abazias.com is also a full-service jeweler offering a large selection of settings for stones purchased. For more information, visit www.abazias.com or call 800-603-9940.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future sales, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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