2 Disclaimer This powerpoint contains identifying important factors that could cause actual results to differ from the projected results. All statements,

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DisclaimerDisclaimer

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.

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Introduction of PresentersIntroduction of Presenters

Ms. Jessica ChanMs. Jessica ChanCompliance Officer

Mr. Martin PakMr. Martin Pak Chief Financial Officer

Mr. Henry WongMr. Henry WongDeputy Financial Officer

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AgendaAgenda

1.1. Company Overview Company Overview

2.2. Core Business & DevelopmentCore Business & Development

3.3. Competitive StrengthsCompetitive Strengths

4.4. Growth StrategiesGrowth Strategies

5.5. China Pearls and Jewelry City ProjectChina Pearls and Jewelry City Project

(“CP&J Project”) Development(“CP&J Project”) Development

6. Financial Highlights6. Financial Highlights

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Listed on AMEX (AMEX : MHJ)

Subsidiary called Man Sang International Limited – first pearl business listed company in HK (HKEx Stock Code : 938)

1. Company Overview1. Company Overview

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Company OverviewCompany 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

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Man Hing Industrial CityMan Hing Industrial City

Company OverviewCompany Overview

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Since 1993 , our Company owns and operates Man Hing Industrial City, Shenzhen, PRC

27 blocks of buildings with a total 75,530 m2

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 OverviewCompany Overview

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2. Core Business Development2. Core Business Development

PearlsPearlsOne of the World’s largest Pearl processors and merchants

Assembled Pearls and Non-pearl JewelryAssembled Pearls and Non-pearl JewelryVertically integrated

China Pearls and Jewelry City in Zhuji, ZhejiangChina Pearls and Jewelry City in Zhuji, Zhejiang – – The World’s Largest Pearl & Jewelry Trading Platform

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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 GlanceA. Pearls at Glance

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Different Types of Cultured PearlsDifferent Types of Cultured Pearls

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Pearl Processing FlowPearl Processing Flow

GradingGrading

DrillingDrilling

WaxingWaxing

PolishingPolishing

BleachingBleaching

Man Sang Techniques

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B. China Pearls and Jewelery City Project ( “CP&J Project”), 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.

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C. Some of our CustomersC. 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

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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

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Our Annual Processing CapacityOur 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.

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4. Our Growth Strategies4. 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

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Key Development MilestonesKey Development Milestones

1997 …2008

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

2005 200619961990’s

MSHI listed on AMEX under the symbol “MHJ”

1980’s

5. CP&J Project - Key Development Milestones 5. CP&J Project - Key Development Milestones

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

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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 m2:

CP&J Project – OverviewCP&J Project – Overview

1. Raw Material, Products and Tool Market-Place Area 2. Exhibition Area3. Manufacturing and Processing Area4. Business Services Area5. Supporting Facilities Area

Targeted Completion date of Market Centre by March 2008.

Grand Opening of CP&J Project in April 2008In conjunction with two major pearl trade event (China International Pearl Festival & Xishi Cultured Festival)

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CP&J Project - Key MilestonesCP&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)

2006 2007 2008

Market Centre under Phase I

28 Aug 07

Shops and booths in

Market Centre under phase I

offered for sales & lease

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CP&J Project – LocationCP&J Project – Location

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

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CP&J Project – Areas of Phase ICP&J Project – Areas of Phase I

Phase I750 acres

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CP&J Project – CP&J Project –

Floor plan of Market Centre under Phase IFloor plan of Market Centre under Phase I

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　 Market Centre Manufacturing

Processing areas

Residential areas Multi-complex

buildings

Construction Area (m2) 160,000 41,000 33,000 26,000

Sales / Leasable GFA (m2)

129,456 41,000 33,000 26,000

Proposed Selling Price (in the range of RMB/m2)

15,000 to25,000

3,000 to 5,000

4,000 to7,000

4,000 to 7,000

Proposed Monthly Effective Rental Rate (in the range of RMB/m2)

150 to230

25 to40

30 to 50

30 to50

Quantities(units/blocks/floors)

2,380 units 4 Blocks 21 Floors 8 Floors

Estimated DevelopmentCost (RMB/m2)

4,000 2,000 3,000 3,000

Estimated CompletionDate

Mar-2008 Jun-2008 Dec-2008 Jul-2008

ExpectedSales/Leasing Date

Aug-2007 4th of quarter 2008 4th of quarter 2008 4th of quarter 2008

CP&J Project – Phase ICP&J Project – Phase I SummarySummary

CP&J Project’s area under Phase 1 (Executing): Approximate 260,000 m2 (390 acres) Phase 1 (Planning): Approximate 240,000 m2 (360 acres)

Remark: The information above as at today’s estimation

CP&J Project – CP&J Project – Sales Progress of Market Centre under Phase ISales Progress of Market Centre under Phase I

Phase I sales progress summary

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As at 31-Dec-2007

　 　 Sold units 　

　Total

saleablearea (m2)

No. of units

Area (m2)

Percentage of sold unitsto total units

　 (A) 　 (B) (B)/(A)

3-storyshop

16,852 28 4,673 28%

2-storyshop

34,385 220 14,621 43%

TotalTotal 51,23751,237 248248 19,29419,294 38%38%

Phase I leasing progress summary

CP&J City Project – CP&J City Project – Leasing Progress of Market centre under Phase ILeasing Progress of Market centre under Phase I

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As at 31-Dec-2007

　 　 Leased units 　

　 Total Leasable area (m2)

No. of units

Area (m2)

Occupancy Ratio

　 (X) 　 (Y) (Y)/(X)

3-storyshop

16,852 14 2,507 15%

2-storyshop

34,385 36 2,356 7%

Booth 27,072 405 9,323 34%

TotalTotal 78,30978,309 455455 14,18614,186 18%18%

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

CP&J Project – Development Progress of Manufacturing and CP&J Project – Development Progress of Manufacturing and Processing areas, Residential areas, Multi-complex buildings Processing areas, Residential areas, Multi-complex buildings under Phase I under Phase I

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Planned Planned construction area construction area

(m(m22))

ProgressProgress EstimatedEstimated

Completion DateCompletion Date

4 Blocks of Manufacturing and Processing areas

41,00041,000 StartedStarted June-08June-08

Residential Areas

33,00033,000 StartedStarted Dec-08Dec-08

Multi-complex Buildings 26,00026,000 Half of total story Half of total story

units completed units completed July-08July-08

Total 100,000

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CP&J Project – Phase IICP&J Project – Phase II

Phase II900 acresPhase II

900 acres

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Net Sales

35.2

48.5

40.5

52.9

38.7

49.0

38.5

51.1

40.9

0

10

20

30

40

50

60

US$ Million

2003/04 2004/05 2005/06 2006/07 2007/08

3rd Q

Annual

6. Financial Performance6. Financial Performance

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

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0.9

2.53.4

3.02.5

0

1

2

3

4

5

6

7

US$ Million

2003/04 2004/05 2005/06 2006/07 2007/08

Annual Result

3rd Q

Financial Performance (continued)Financial Performance (continued)

4.1 3.7 3.4

2.7

Operating Income

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Financial Performance (continued)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

0.4

$0.42.9

$3.5*

1.4

$2.3

1.8

$3.6

2.2

0

1

2

3

4

5

6

7

US$Million

2003/04 2004/05 2005/06 2006/07 2007/08

Annual

3rd Q

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Net SalesNet Sales

2007/082007/08(9 months)(9 months)

38.2%

5.3%

56.5%

Saltwater Pearls

Freshwater Pearls

Assembled Pearl Jewelry

56.2%37.5%

6.3%

2003/042003/04(12 months)(12 months)

45.8%

45.7%

8.5%

2004/052004/05(12 months)(12 months)

2005/062005/06(12 months)(12 months)

43.0%

10.2%

46.8%

2006/072006/07(12 months(12 months))

41.0%

7.1%

51.9%

Net Sales by Product

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Net Sales (continued)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 38.9 37.6

North America 35.2 28.9 28.7 27.5

Other Asian Countries 29.8 35.3 19.9 19.8

Others 3.6 5.2 5.0 6.3

Total 100.0 100.0 100.0 100.0

Net Sales by Region

Diversified customer base from around the world

Comprehensive range of pearls and other jewelry offers one-stop trading

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Gross Profit Margin is continuously enhancing

HighlightsHighlights

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

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Thank YouThank You