Abazias.com Updates Results of Value Rich Conference with 5MM Dollar Term Sheet

GAINESVILLE , Fla. ( September 19, 2005 ) - Abazias.com, a leading online diamond purveyor, returns from the recent Value-Rich Small Cap Financial Expo with success at hand. The Abazias presentation was well attended and led to several potential funding sources. As a result of their conference attendance, Abazias has welcomed interest from multiple funding sources, and has specifically received a term sheet from Cogent Capital Corporation for $5 million dollars worth of funding, within the past 48 hours.

While negotiations are at an early stage, the terms outline both a private placement issued under rule 144 with standard restriction on open market transactions, and an equity swap assuming a minimum price of 9.5 cents for an aggregate of 52,631,580 shares for an aggregate amount of 5MM. While the term sheet is still subject to negotiation and may change, "Abazias is thrilled about such a level of funding and the possibilities associated with expanding our business model" commented Oscar Rodriquez, Abazias' CEO.

Cogent Capital is a full service investment banking firm established in 1995 for nano-cap companies. Cogent also manages a Micro-cap fund focusing on companies with a market capitalization of less than 100MM.

About Abazias
Abazias.com showcases over 70,000 diamonds, valued at over $350 million on its site at www.abazias.com . Most of 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 about Abazias.com, visit the Company's website at www.abazias.com.

This press release may contain statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.


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