Harry Winston Diamond Receives Regulatory Approvals for Sale of Luxury Brand Segment, Deal to Close on or About March 26, 2013

Harry Winston Diamond Corporation

(the "Company") announced today that it has now received all required regulatory approvals to the Company's proposed sale of its luxury brand diamond jewelry and timepiece division, Harry Winston, Inc., to The Swatch Group Ltd. (the "Transaction"). The Company now expects that closing of the Transaction will occur on or about March 26, 2013. As previously announced, the Company will, in connection with the closing of the Transaction, change its name to Dominion Diamond Corporation. Cautionary Statement on Forward-Looking Information This news release contains statements that constitute "forward-looking statements" and/or "forward-looking information" within the meaning of Canadian and United States securities laws (the "forward-looking information") relating to the proposed sale of the luxury brand diamond jewelry and timepiece division of the Company. Such forward-looking information is subject to important risks, uncertainties and assumptions, including risks relating to the timing of, and ability to satisfy, the remaining conditions to closing. The results or events predicted in forward-looking information may differ materially from actual results or events. As a result, readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this disclosure,