July 21, 2011

Blue Nile Names David Binder Its Chief Financial Officer

SEATTLE, July 21, 2011 (GLOBE NEWSWIRE) -- Blue Nile, Inc. (Nasdaq:NILE), the leading online retailer of diamonds and fine jewelry, today announced that David Binder will become its Chief Financial Officer. Binder will take over finance responsibilities from Vijay Talwar, Interim Chief Financial Officer and Senior Vice President and General Manager of International, who will return full-time to his role leading Blue Nile's international business.

Diane Irvine, Chief Executive Officer of Blue Nile, stated, "I would like to thank Vijay for his contributions as our interim CFO over the past eight months. Vijay's drive in guiding our finance operations while leading our international business has been instrumental.  As Vijay returns to his international role, I know that his passion and leadership will allow us to capture the significant international growth opportunities that we see ahead."

"We are extremely excited to welcome David Binder to Blue Nile," Irvine continued. "David's depth of experience, his proven leadership, and his keen financial and business sense are the right fit for our management team.  David will be a valuable asset to our business as we continue to introduce consumers around the world to the Blue Nile brand."

Binder added, "I am thrilled to be joining a team that has great drive and a sense of purpose in building the world's premier diamond and jewelry retailer. I believe Blue Nile has unique opportunities to extend its industry leadership position around the world, and I am excited to be a part of the company's future success."

Binder brings nearly 20 years of extensive finance, strategic planning and financial leadership experience to Blue Nile. As Chief Financial Officer, Binder will report to Chief Executive Officer, Diane Irvine, and will be responsible for all aspects of Blue Nile's finance function, including accounting and financial reporting, financial planning and analysis, tax, treasury and investor relations. Binder will formally start in August 2011. Binder joins Blue Nile from Infospace, Inc., where he has served as Chief Financial Officer and Treasurer since January 2008 and previously, served as its Vice President of Finance. Prior to Infospace, Binder held various financial leadership positions at Drugstore.com, Inc., Edge2net Inc., HomeGrocer.com, Inc., and AT&T Wireless. Binder has a Masters degree in Economics and Finance and a B.A. degree in Economics from Brandeis University.

Blue Nile also today announced the appointment of Terri Maupin as its Chief Accounting Officer. Maupin will report to newly appointed Chief Financial Officer, Binder. Maupin, who has a seven-year tenure at Blue Nile, has served as Vice President of Finance and Controller since July 2004 and was previously Controller. Prior to Blue Nile, Maupin served as the Staff Vice President of Finance and Controller at Alaska Air Group, Inc. Maupin's career also includes various accounting and finance roles at Nordstrom, Inc., Coastal Transportation, Inc. and Coopers & Lybrand LLP.  Maupin holds a B.A. in Accounting from Western Washington University and is a CPA-Inactive in the State of Washington.

About Blue Nile, Inc.

Blue Nile, Inc. is the leading online retailer of diamonds and fine jewelry. The Company delivers the ultimate customer experience, providing consumers with a superior way to buy engagement rings, wedding rings and fine jewelry. Blue Nile offers in-depth educational materials and unique online tools that place consumers in control of the jewelry shopping process. The Company has some of the highest quality standards in the industry and offers thousands of independently certified diamonds and fine jewelry at prices significantly below traditional retail. Blue Nile can be found online at www.bluenile.com, www.bluenile.ca and www.bluenile.co.uk. Blue Nile's shares are traded on the Nasdaq Stock Market LLC under the symbol NILE.

The Blue Nile, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9579

Forward Looking Statements

This press release contains forward-looking statements based on management's current expectations. These statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "intend," "estimate," "are positioned to," "continue," "project," "guidance," "target," "forecast," "anticipated," "future," "see ahead," or comparable terms. Future results may differ materially from management's current expectations, based upon risks and uncertainties such as expected economic trends, the ability to anticipate consumer preferences, the ability to control costs, etc. Please refer to Blue Nile's latest Annual Report on Form 10-K for a complete list of risk factors.

CONTACT: Blue Nile, Inc.



         Nancy Shipp

         206.388.3626 (Investors)

         nancys@bluenile.com



         John Baird

         206.336.6805 (Media)

         johnb@bluenile.com

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Source: Blue Nile, Inc.

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