FINLAY ENTERPRISES INC /DE
LETTER AGREEMENT
<DOCUMENT>
<TYPE>EX-10.22(A)
<SEQUENCE>3
<FILENAME>file002.txt
<DESCRIPTION>LETTER AGREEMENT
<TEXT>
<PAGE>

                                                                EXHIBIT 10.22(a)

                               DAVID B. CORNSTEIN
                             Pinnacle Advisors, Ltd.
                                529 Fifth Avenue
                              New York, N.Y. 10017
                                 (212) 382-7473



                                  March 8, 2004


Finlay Enterprises, Inc.
529 Fifth Avenue
New York, NY 10017

Re:  Sale of Shares of Common Stock of Finlay Enterprises, Inc.

Gentlemen:

     This letter confirms the agreement of David B. Cornstein ("Cornstein") to
sell to Finlay Enterprises, Inc. (the "Company") an aggregate of 100,000 shares
of the common stock of the Company (the "Shares"), on the terms set forth
herein.

     1. Simultaneously with the execution and delivery of this Agreement, (i)
the Company shall purchase from Cornstein, and Cornstein shall sell to the
Company, the Shares at a price of $16.25 per share, or an aggregate price of
$1,625,000 (the "Purchase Price"), and (ii) the Company shall deliver to
Cornstein the Purchase Price by wire transfer to an account designated by
Cornstein and Cornstein will either DWAC the Shares to the Company or deliver to
the Company one or more stock certificates representing the Shares, with stock
powers duly endorsed in blank attached thereto.

     2. Cornstein represents and warrants to the Company that (a) the Shares are
owned by Cornstein, (b) the Shares are being sold free and clear of all
encumbrances and liens of any kind whatsoever other than any restrictions
imposed by Federal and state securities law, (c) Cornstein is authorized to
enter into this Agreement and to consummate the transactions contemplated hereby
and (d) Cornstein is fully familiar with the financial condition of the Company
and has had an adequate opportunity to ask and have answered questions regarding
the financial and business conditions of the Company.

     3. The Company represents that as of the date of its execution of this
Agreement, all necessary corporate actions will have been taken to authorize the
transaction contemplated herein.

     4. This Agreement shall be governed by the laws of the State of New York
and may not be modified except by a writing executed by the parties hereto.

<PAGE>

     Please confirm your agreement to the foregoing by executing the enclosed
copy of this letter where indicated.


                                                  Very truly yours,


                                                  /s/ David B. Cornstein
                                                  -----------------------------
                                                  David B. Cornstein



Accepted And Agreed To:

FINLAY ENTERPRISES, INC.


By /s/ Arthur E. Reiner
   -------------------------
   Name:  Arthur E. Reiner
   Title: Chairman & CEO


</TEXT>
</DOCUMENT>
