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

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6. 6 Listed on AMEX (AMEX : MHJ) Subsidiary called Man Sang International Limited – first pearl business listed company in Hong Kong (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 Sang Industrial City Company Overview

9. 9 Since 1993, our Company owns and operates Man Sang Industrial City, Shenzhen, PRC 27 blocks of buildings with a total 75,530 m 2 On 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. On April 18, 2008, Grand Opening of CP&J Project In conjunction with two major pearl trade event (China International Pearl Festival & Xishi Cultured Festival) Company Overview

10. 10 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 Key Development Milestones

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12. 12 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

13. 13 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

14. 14 Different Types of Cultured Pearls Different Types of Cultured Pearls

15. 15 Pearl Processing Flow Grading Drilling Waxing Polishing Bleaching Man Sang Techniques

16. 16 B. China Pearls and Jewelry 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 Largest freshwater pearls trading centre in Zhuji

17. 17 C. Some of our Customers America’s Collectibles Network More than 600 customers worldwide, with some having over 10 years of history with us

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19. 19 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. Competitive Strengths

20. 20 Annual Processing Capacity Approximately 25,000kg of freshwater pearls Approximately 3,000kg of saltwater pearls Approximately 1,600,000 pieces of finished jewelry products Based on our annual processing capacity, we are one of the leaders in the industry.

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22. 22 4. 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

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24. 24 CP&J Project – World’s Largest Pearls & Jewelry Trading Platform Phase I Market Centre B. Residential Area A. Multi-complex Building C. Manufacturing and processing areas Master layout plan

25. 25 CP&J Project – Location

26. 26 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 On 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. On April 18, 2008, Grand Opening of CP&J Project - In conjunction with two major pearl trade event (China International Pearl Festival & Xishi Cultured Festival)

27. CP&J City – Photos of Grand Opening of Phase I Market Centre 27

28. 28 CP&J Project - Key Milestones April 18 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 Development Progress of CP&J City 28 Aug 07 Shops and booths in Market Centre under phase I offered for sales & lease 2008 Commencement of the construction of stage 2 of Phase I CP&J Project including: i. manufacturing and processing areas, ii. residential areas III. multi-complex buildings

29. 29 CP&J Project – Business Strategy

30. 30 CP&J Project – Areas of Phase I Phase I 750 acres

31. 31 CP&J Project – Floor plan of Market Centre under Phase I

32. CP&J Project – Development Progress of Manufacturing and Processing areas, Residential areas, Multi-complex buildings under Phase I 32 Planned construction area (m 2 ) ProgressEstimated Completion Date 4 Blocks of Manufacturing and Processing areas41,000 Completion of 4 blocks superstructure The end of 2008 to the mid of 2009 Residential Areas33,000 Completion of foundation The end of 2008 to the mid of 2009 Multi-complex Building26,000 Completion of superstructure The end of 2008 to the mid of 2009 Total100,000

33. CP&J Project – Photos of Multi-complex building, Residential area and Manufacturing and Processing area under Phase 1 A. Multi-complex Building B. Residential Area 33 Latest photo Artist Impression

34. CP&J Project – Photos of Multi-complex building, Residential area and Manufacturing and Processing area under Phase 1 C. Manufacturing and processing areas Factory Building No. 1 Factory Building No. 2 Factory Building No. 3 Factory Building No.4 Factory Building No. 3 34 Latest photo Artist Impression

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36. 6. Financial Performance Net Sales of the year ended 31-March for Pearls and Real Estate Segments 36

37. 37 Net Sales for Pearls and Real Estate Segments 6. Financial Performance (continued) Net Sales decreased by US$1.4 million or 10.9% from US$12.9 million for three months ended June 30, 2007 to US$11.5 million for three months ended June 30, 2008.

38. 38 6. Financial Performance (continued) Operating Income

39. 39 6.Financial Performance (continued) Net Income after Minority Interest and income tax expense * 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

40. 40 2007/08 (1 st Quarter) Saltwater Pearls Freshwater Pearls Assembled Jewelry Product Net Sales by Product for Pearls and Jewelry 2006/07 (1 st Quarter) 43.8% 10.0% 46.2% 43.6% 6.5% 49.9% Financial Performance (continued) 2008/09 (1 st Quarter) 61.4% 34.7% 3.9%

41. 41 2006/07 (1st Quarter ) 2007/08 (1 st Quarter) 2008/09 (1 st Quarter ) %% Hong Kong 7.0 8.3 6.9 Europe 33.130.344.1 North America 25.033.922.4 Other Asian Countries 27.521.216.9 Others 7.46.39.7 Total 100.0 Net Sales by Region for Pearls and Jewelry Diversified customer base from around the world Comprehensive range of pearls and other jewelry offers one-stop trading Financial Performance (continued)

42. 42 Gross Profit Margin is continuously enhancing. Highlights Net sales decreased by US$1.4 million or 10.9% Gross profit increased by US$0.2 million or 4.3% Gross profit margin increased by 6.1% from 34.8 % to 40.9% Overall performance for the year ended June 30, 2008 while compared with the same period in 2007 Return on capital employed (annualized net income/capital employed) decreased from 8.6% to 4.0%. Steady growth on Return On Capital for Shareholders Net income after minority interest has dropped by US$0.6million to US$0.5million

43. 43 Thank You