<SUBMISSION>
<ACCESSION-NUMBER>0000891020-07-000323
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20071030
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20071102
<DATE-OF-FILING-DATE-CHANGE>20071102
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>BLUE NILE INC
<CIK>0001091171
<ASSIGNED-SIC>5944
<IRS-NUMBER>911963165
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-50763
<FILM-NUMBER>071211558
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>705 FIFTH AVE S
<STREET2>STE 900
<CITY>SEATTLE
<STATE>WA
<ZIP>98104
<PHONE>2063366700
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>705 FIFTH AVE S
<STREET2>STE 900
<CITY>SEATTLE
<STATE>WA
<ZIP>98104
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>INTERNET DIAMONDS INC
<DATE-CHANGED>20000131
</FORMER-COMPANY>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v35163e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>October&nbsp;30, 2007<BR>
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>BLUE NILE, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)</DIV>


<DIV align="center">
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    <TD width="30%">&nbsp;</TD>
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    <TD align="center" valign="top">DELAWARE
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">000-50763
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">91-1963165
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(STATE OR OTHER JURISDICTION OF INCORPORATION)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(COMMISSION FILE NUMBER)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>(I.R.S. EMPLOYER IDENTIFICATION NO.)</TD>
</TR>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">705 FIFTH AVENUE SOUTH, SUITE 900, SEATTLE, WASHINGTON, 98104<BR>
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(206)&nbsp;336-6700<BR>
REGISTRANT&#146;S TELEPHONE NUMBER, INCLUDING AREA CODE</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">N/A<BR>
(FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>


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    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

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    <TD style="font-size: 6pt">&nbsp;</TD>
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    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
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</TR>
<TR><TD colspan="9"><A HREF="#000">Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="v35163exv99w1.htm">EXHIBIT 99.1</A></TD></TR>
</TABLE>
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<!-- link1 "Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.</B></FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>5.02 (b)&nbsp;Election of Directors
&nbsp;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On October&nbsp;30, 2007, on recommendation by the Company&#146;s Nominating and Corporate Governance
Committee, the Board of Directors appointed Michael Potter and Steve Scheid to the Company&#146;s Board
of Directors. With the addition of  these two new independent directors, the size of the Board of Directors increased
to eight directors. Potter and Scheid were appointed as Class&nbsp;II directors and will stand for
re-election by a vote of stockholders at our 2009 annual meeting of stockholders. The Company has
not yet determined which committees of the Board of Directors that Potter and Scheid will join.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Potter,
46, served as the Chairman and Chief Executive Officer of Big Lots, Inc., a Fortune
500 retailer, from June&nbsp;2000 to June&nbsp;2005. Prior to serving as the Chief Executive Officer, Potter
served in various capacities at Big Lots, including the role of Chief Financial Officer. Prior to
Big Lots, Potter held various positions at The Limited, Inc., May Department Stores, and Meier &#038;
Frank.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Scheid, 54, currently serves as the Chairman of the Board of Janus Capital Group, Inc. (&#147;Janus&#148;).
From April&nbsp;2004 until December&nbsp;2005, Scheid served as Chief Executive Officer and Chairman of the
Board of Janus. Scheid joined the Janus Board in December&nbsp;2002 and was appointed Chairman in
January&nbsp;2004. Scheid served as Vice Chairman of The Charles Schwab Corporation and President of
Schwab&#146;s retail group from 2000 to 2002. Prior thereto, Scheid headed Schwab&#146;s financial products
and services group and was the firm&#146;s Chief Financial Officer from 1996 through 1999. From 2001 to
2002, Scheid served on the Federal Advisory Council, which provides oversight to the Federal
Reserve Board in Washington, D.C.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Potter and Scheid will receive the same compensation as the other non-employee directors. This
compensation consists of:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><FONT style="font-family: wingdings">&#167;</FONT></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an annual retainer of $30,000 cash compensation annually, which the director may elect
to receive in stock in lieu of cash;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><FONT style="font-family: wingdings">&#167;</FONT></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>$3,000 for serving on any committee of the Board of Directors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><FONT style="font-family: wingdings">&#167;</FONT></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an initial option to purchase 11,250 shares of the Company&#146;s common stock, which vests
with respect to 1/30<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> of the shares subject to the grant for the first 12
months following the date of grant and 1/60<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> of the shares subject to the grant
for the subsequent 36&nbsp;months; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><FONT style="font-family: wingdings">&#167;</FONT></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an annual option to purchase 2,250 shares of the Company&#146;s common stock (or a prorated
amount of such number to account for any whole calendar quarters in the prior year that the
director did not serve on the Board of Directors) on the date following each annual meeting
of stockholders, which vests monthly for one year.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A copy of the press release announcing Potter and Scheid&#146;s election is attached as Exhibit
99.1 to this Form 8-K and is incorporated herein.
</DIV>



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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>EXHIBIT</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>NUMBER</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>DESCRIPTION</B></TD>
</TR>

<!-- End Table Head -->
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<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated November&nbsp;1, 2007 announcing the appointment of two new Board members</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;<BR>
<BR>
BLUE NILE, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Diane M. Irvine
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Diane M. Irvine&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated: November&nbsp;2, 2007
</DIV>


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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v35163exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 99.1</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">For more information, contact:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Nancy Shipp (Investors) 206.388.3136</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">nancys@bluenile.com</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Liz Powell (Media) 206.336.6755</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">lizpo@bluenile.com</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Blue Nile Announces Appointment of Two New Board Members</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">SEATTLE, November&nbsp;1, 2007 &#151; Blue Nile, Inc. (Nasdaq: NILE) today announced the addition of Michael
Potter and Steve Scheid to its Board of Directors. In connection with these appointments, the Board
was expanded to eight members.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;We are delighted that Mike and Steve are joining our Board of Directors. Both are talented
individuals who bring a broad range of strategic and leadership experience to our Board. This will
be extremely valuable to our business as Blue Nile continues to grow in the years ahead,&#148; said Mark
Vadon, Blue Nile&#146;s Chairman and Chief Executive Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Potter brings extensive experience in retail management, strategic planning and finance to the
Board. He served as the Chairman and Chief Executive Officer of Big Lots, Inc., a Fortune 500
retailer, from June&nbsp;2000 through June&nbsp;2005. Prior to serving as CEO, Potter held various positions
at Big Lots, including the role of Chief Financial Officer. Prior to Big Lots, Potter&#146;s retail
experience included The Limited, Inc., May Department Stores, and Meier &#038; Frank. Potter currently
serves on the Board of Directors of Coldwater Creek, Inc., a triple channel retailer of women&#146;s
apparel, gifts and accessories. He holds an MBA from Capital University in Ohio and a B.S. in
Finance and Management from the University of Oregon.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Scheid joins the Board with significant expertise in finance, retail strategies, risk management
and investment services. He currently serves as the Chairman of Janus Capital Group, Inc., one of
the largest investment management companies in the U.S. From April&nbsp;2004 to December&nbsp;2005, Scheid
held the role of Chairman and Chief Executive Officer at Janus. Prior to his tenure at Janus, he
held various executive positions at Charles Schwab &#038; Co., including the role of Vice Chairman of
The Charles Schwab Corporation and President of Schwab&#146;s retail group. Scheid currently serves on
the Board of Directors of PMI Group, Inc., an international provider of credit enhancement
products. He holds a B.S. from Michigan State University.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Blue&nbsp;Nile, Inc.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Blue Nile, Inc. is the leading online retailer of diamonds and fine jewelry.&nbsp; The Company delivers
the ultimate customer experience, providing consumers with a superior way to buy engagement rings,
wedding rings and fine jewelry.&nbsp; Blue Nile offers in-depth educational materials and unique online
tools that place consumers in control of the jewelry shopping process.&nbsp; 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.&nbsp; Blue Nile can be found online
at www.bluenile.com, www.bluenile.ca and www.bluenile.co.uk.&nbsp; Blue Nile&#146;s shares are traded on the
Nasdaq Stock Market LLC under the symbol NILE.
</DIV>



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