2. 2 Disclaimer This powerpoint contains identifying important factors that could cause actual results to differ from the projected results. All statements, other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made in this powerpoint are forward looking. Words such as “may,” “believes,” “will,” “expects,” “project,” “estimate,” and “intend” “anticipate.” “plan,” “continue,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to: our future performance, our expansion efforts, demand for our products; the state of economic conditions and our markets; currency and exchange rate fluctuations; and our ability to meet our liquidity requirements. These forward-looking statements are based on assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe to be appropriate in particular circumstances. However, whether actual results and developments will meet our expectations and predictions depend on a number of known and unknown risks and uncertainties and other factors, any or all of which could cause actual results, performance or achievements to differ materially from our expectations, whether expressed or implied by such forward-looking statements (which may relate to, among other things, the Company’s sales, costs and expenses, income, inventory performance, and receivables). Primarily engaged in the processing and trading of pearls and pearl jewelry products, and in real estate investment, our ability to achieve our objectives and expectations are derived at least in part from assumptions regarding economic conditions, consumer tastes, and developments in our competitive environment. The following assumptions, among others, could materially affect the likelihood that we will achieve our objectives and expectations communicated through these forward-looking statements: (i) that low or negative growth in the economies or the financial markets of our customers, particularly in the United States and in Europe, will not occur and reduce discretionary spending on goods that might be perceived as “luxuries”; (ii) that the Hong Kong dollar will remain pegged to the U.S. dollar at US$1 to HK$7.8; (iii) that customer’s choice of pearls vis- à-vis other precious stones and metals will not change adversely; (iv) that we will continue to obtain a stable supply of pearls in the quantities, of the quality and on terms we require; (v) that there will not be a substantial adverse change in the exchange relationship between the Renminbi and the Hong Kong dollar or U.S. dollar; (vi) that there will not be a substantial increase in the tax burdens of our subsidiaries operating in the PRC; (vii) that there will not be a substantial change in climate and environmental conditions at the source regions of pearls that could have a material adverse effect on the supply and pricing of pearls; and (viii) that there will not be a substantial adverse change in the real estate market conditions in the PRC and in Hong Kong. The following discussion of our results of operation, and liquidity and capital resources should be read in conjunction with the financial statements and the notes thereto included elsewhere in this powerpoint and this powerpoint, which contains a further description of risks and uncertainties related to forward-looking statements, as well as other aspects of our business. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this powerpoint. We will not publicly release any revisions to these forward-looking statements after the date hereof. Readers are urged, however, to review the factors set forth in periodic reports that we file from time to time with the Securities and Exchange Commission.

3. 3 Introduction of Presenters Ms. Jessica Chan Compliance Officer Mr. Martin Pak Chief Financial Officer Mr. Henry Wong Deputy Financial Officer

4. 4 Agenda 1. Company Overview 2. Core Business & Development 3. Competitive Strengths 4. Growth Strategies 5. China Pearls and Jewelry City Project (“CP&J Project”) Development (“CP&J Project”) Development 6. Financial Highlights

5. 5

6. 6 Listed on AMEX (AMEX : MHJ) Subsidiary called Man Sang International Limited – first pearl business listed company in HK (HKEx Stock Code : 938) 1. Company Overview

7. 7 Company Overview Diversified business consisting of purchasing, assembling, merchandising and wholesale distribution of pearls and jewelry products Owns and operates pearl and jewelry trading platform Has over 1,000 employees, majority being PRC employees One of the world’s largest pearl merchants One of the world’s largest purchasers & processors of saltwater pearls

8. 8 Man Hing Industrial City Company Overview

9. 9 Since 1993, our Company owns and operates Man Hing Industrial City, Shenzhen, PRC 27 blocks of buildings with a total 75,530 m 2 In April 12, 2007, our Company further acquired 6% equity interest in China Pearls and Jewellery City Holdings Limited (“CP&J City”). Immediately after the acquisition, our Company owned a total 55% equity interest. Company Overview

10. 10

11. 11 2. Core Business Development Pearls One of the World’s largest Pearl processors and merchants Assembled Pearls and Non-pearl Jewelry Vertically integrated China Pearls and Jewelry City in Zhuji, Zhejiang – China Pearls and Jewelry City in Zhuji, Zhejiang – The World’s Largest Pearl & Jewelry Trading Platform

12. 12 Usually referred to as “Cultured Pearl” “Irritant” (nucleus or tissue) is implanted into an oyster Oyster produces nacre around the irritant Cultured Pearl is created when ready for harvesting Growing duration vary from 5 months to 5 years 3rd commonly used material for jewelry A. Pearls at Glance

13. 13 Different Types of Cultured Pearls Different Types of Cultured Pearls

14. 14 Pearl Processing Flow Grading Drilling Waxing Polishing Bleaching Man Sang Techniques

15. 15 B. China Pearls and Jewelery City Project ( “CP&J Project”), CP&J City Project : A major project at both municipal and provincial levels Strongly supported by the local Government of Zhuji Jointly invested by our Company and six PRC major pearl and jewelry players Located in strategic location of Yangtze River Delta, PRC In 2005, over 90% of USD1.00 billion worth of China freshwater pearls were nurtured, processed or traded in Zhuji. Over 65% of the freshwater pearls or pearls products were for PRC local sales and 35% were for export.

16. 16 C. Some of our Customers America’s Collectibles Network More than 600 customers worldwide, with some of them having over 10 years of history with us

17. 17

18. 18 Excellent reputation with over 25 years of proven experience Well-experienced management team Stable and long-term relationships with suppliers and customers Well-established & long history of diversified customers First pearl company in China to obtain “ISO 9001” Quality System Standard Certification Sound financial position for continuous growth Comprehensive range of pearls and as well as assembled pearl and jewelry products Advanced pearl processing and jewelry assembling techniques Bulk purchasing power and lower processing costs Offering “one-stop solution” to all customers 3. Our Competitive Strengths

19. 19 Our Annual Processing Capacity Approximately 29,000 kg of freshwater pearls Approximately 10,000 kg of saltwater pearls Approximately 1,500,000 pieces of finished jewelry products Based on our annual processing capacity, we are one of the leaders in the industry.

20. 20

21. 21 4. Our Growth Strategies Vertical expansion of customer segment from pearls to assembled pearls and jewelry product Creation of our own product brand – Dear Pearls & MS Collection. Enhancement on the scope of marketing & distribution services offer “one stop solution” to customers Creating solutions & reducing costs Committed to innovation

23. 23 Key Development Milestones 1997 …200 8 Investment Project at Zhuji Man Sang Industrial City established in Shenzhen Man Sang Int’l Ltd (stock code 938), subsidiary of MSHI listed on HKEX MSHI listed on OTC Bulletin Board with ticker “MSHI.OB” Man Sang founded in early 80’s 200520061996 1990’ s MSHI listed on AMEX under the symbol “MHJ” 1980’s 5. CP&J Project - Key Development Milestones

24. 24 CP&J Project – World’s Largest Pearls & Jewelry Trading Platform

25. 25 Commenced sales and leasing of shops and booths in Market Centre under Phase I beginning August 28, 2007 Five major areas with planned site area of approximately 1.2 million m 2: CP&J Project – Overview 1. 1.Raw Material, Products and Tool Market-Place Area 2. 2.Exhibition Area 3. 3.Manufacturing and Processing Area 4. 4.Business Services Area 5. 5.Supporting Facilities Area Targeted Completion date of Market Centre by March 2008. Grand Opening of CP&J Project in April 2008 In conjunction with two major pearl trade event (China International Pearl Festival & Xishi Cultured Festival)

26. 26 CP&J Project - Key Milestones April 2008 Grand Opening of CP&J City 18-Jan-06 China Pearls and Jewellery City Holdings Ltd founded (Hong Kong) Jul 06 Acquired land- use rights from Zhuji Govt Dec 06 Construction of Phase I of CP&J City commenced Oct 06 Formalities of 283 acreage land use right completed Jun-Jul 07 63 acreage of commercial/ residential land-use right obtained Apr-May 07 170 acreage of industrial land- use right obtained 23-Mar-06 China Pearls and Jewellery Int’l City Co. Ltd. established (PRC) 200620072008 Market Centre under Phase I 28 Aug 07 Shops and booths in Market Centre under phase I offered for sales & lease

27. 27 CP&J Project – Location

28. 28 CP&J Project – Creating solutions and reducing costs for all tenants

29. 29 CP&J Project – Areas of Phase I Phase I 750 acres

30. 30 CP&J Project – Floor plan of Market Centre under Phase I

31. 31 Market Centre Manufacturing Processing areas Residential areas Multi-complex buildings Construction Area (m 2 )160,00041,00033,00026,000 Sales / Leasable GFA (m 2 ) 129,45641,00033,00026,000 Proposed Selling Price (in the range of RMB/m 2 ) 15,000 to 25,000 3,000 to 5,000 4,000 to 7,000 4,000 to 7,000 Proposed Monthly Effective Rental Rate (in the range of RMB/m 2 ) 150 to 230 25 to 40 30 to 50 30 to 50 Quantities (units/blocks/floors) 2,380 units4 Blocks21 Floors8 Floors Estimated Development Cost (RMB/m 2 ) 4,0002,0003,000 Estimated Completion Date Mar-2008Jun-2008Dec-2008Jul-2008 Expected Sales/Leasing Date Aug-20074th of quarter 2008 CP&J Project – Phase ISummary CP&J Project – Phase I Summary CP&J Project’s area under Phase 1 (Executing): Approximate 260,000 m 2 (390 acres) Phase 1 (Planning): Approximate 240,000 m 2 (360 acres) Remark: The information above as at today’s estimation

32. CP&J Project – Sales Progress of Market Centre under Phase I Phase I sales progress summary 32 As at 31-Dec-2007 Sold units Total saleable area (m 2 ) No. of units Area (m 2 ) Percentage of sold units to total units (A) (B)(B)/(A) 3-story shop 16,852284,67328% 2-story shop 34,38522014,62143% Total51,23724819,29438%

33. Phase I leasing progress summary CP&J City Project – Leasing Progress of Market centre under Phase I 33 As at 31-Dec-2007 Leased units Total Leasable area (m 2 ) No. of units Area (m 2 ) Occupancy Ratio (X) (Y)(Y)/(X) 3-story shop 16,852142,50715% 2-story shop 34,385362,3567% Booth27,0724059,32334% Total78,30945514,18618%

34. 34 CP&J City – Phase I (Market Centre)

35. CP&J Project – Development Progress of Manufacturing and Processing areas, Residential areas, Multi-complex buildings under Phase I 35 Planned construction area (m 2 ) ProgressEstimated Completion Date 4 Blocks of Manufacturing and Processing areas41,000StartedJune-08 Residential Areas33,000StartedDec-08 Multi-complex Buildings26,000 Half of total story units completed July-08 Total100,000

36. 36 CP&J Project – Phase II Phase II 900 acres Phase II 900 acres

37. 37

38. 38 Net Sales 6. Financial Performance Net Sales of the 3rd quarter 2007/08 increased by $2.4 million or 6.2% compared to the last corresponding period.

39. 39 Financial Performance (continued) 4.1 3.7 3.4 2.7 Operating Income

40. 40 Financial Performance (continued) Net Income after Minority Interest * Includes a gain on sale of a real estate investment amounting to US$4.4m The translations of HK$ into US$ have been made at the exchange rate of HK$7.80 for US$1 for reference purpose

41. 41 Net Sales 2007/08 (9 months) 38.2% 5.3% 56.5% Saltwater Pearls Freshwater Pearls Assembled Pearl Jewelry 56.2%37.5% 6.3% 2003/04 (12 months) 45.8% 45.7% 8.5% 2004/05 (12 months) 2005/06 43.0% 10.2% 46.8% 2006/07 (12 months) 41.0% 7.1% 51.9% Net Sales by Product

42. 42 Net Sales (continued) 2004/05 (12 Months) 2005/06 (12 Months) 2006/07 (12 Months) 2007/08 (9 months) %% Hong Kong 10.9 10.2 7.5 8.8 Europe 20.5 20.4 38.937.6 North America 35.2 28.9 28.727.5 Other Asian Countries 29.8 35.3 19.919.8 Others 3.6 5.2 5.06.3 Total 100.0 Net Sales by Region Diversified customer base from around the world Comprehensive range of pearls and other jewelry offers one-stop trading

43. 43 Gross Profit Margin is continuously enhancing Highlights Net sales increased by US$2.4 million or 6.2% Gross profit increased by US$3.1 million or 28.6% Gross profit margin increased by 5.8% from 27.8% to 33.6% For the nine-month ended December 31, 2007 compared to the same period in 2006 Return on capital employed (annualized net income/capital employed) maintained at 5.8%. Return On Capital continued to grow Net income after minority interest has been raised from US$1.8 million to US$2.2 million

44. 44 Thank You