Long Island City, NY, May 2 - OTC International LTD, a leading distributor of fine gold, silver and cameo jewelry, today announced the purchase of KIP (the Key Item People), a fine jewelry group specializing in providing diamond and gold "key items" to major retailers. Yoram Sheinman, the President and CEO of OTC International confirmed that the KIP purchase expands the product offerings of OTC to include proven diamond items. The KIP executive team headed by Basil Cohen, together with Mandy Mckee and Elian Schlesinger, is well respected and has a shared wealth of manufacturing, sourcing, merchandising and sales experience," stated Mr. Yoram Sheinman. "We're looking forward to working closely with this team."

KIP was founded by the executive group three years ago and has been successful in the placement of high volume items with major retailers. "OTC is well known for its operating efficiencies, customer service and breadth of product assortment... this infrastructure will further accelerate KIP's growth," stated Basil Cohen, president of the KIP division.

The KIP purchase was driven by synergy that exists between both organizations. "The added growth will immediately reduce the overall cost of doing business within our company," stated Michael Sheinman, vice president of sales." ...and will position OTC to be extremely competitive in going after business in all categories."