14 kt gold ring - Alexandrite?

by K.O.
(NH)

I have a 14 kt white gold Alexandrite ring.

There is a small diamond gem on the inside of the band. This is an actual diamond gem, I don't mean the shape of a diamond.

The letters " EI or E1 " are before the diamond. It also says 14kt.

I am wondering what the letters stand for, and if the diamond indicates anything. What are the chances the gem is a natural alexandrite?