[For Immediate Release]

Man Sang International 2002/03 1^st Quarter Results

Net Profit Surges 97.4% to HK$8.8Million

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Strengthens Market Expansion in the PRC

(Hong Kong, August 14, 2002) – Man Sang International Limited (“Man Sang”) (stock code: 938) today announced its first quarter results for the three months ended June 30, 2002.

In the first quarter, the Group adopted an aggressive marketing strategy, resulting in an increase of 4.8% in turnover to approximately HK$76.8 million as compared to the corresponding period last year. Profit attributable to shareholders also increased by 97.4% to approximately HK$8.8 million as compared to the same period last year.

Cheng Chung Hing, Chairman of Man Sang said, “During the reporting period, the improvements in market sentiment have boosted the Group’s business growth, in particular, there was relatively significant growth in the Asian (including the PRC and Thailand) and North American markets.”

Cheng Chung Hing continued, “At present, the global economy has not settled into any steady trend and the economies in the Group's major markets are yet to show clear signs of recovery or growth in the near term. Man Sang will remain responsive to market conditions, and continue to undertake measures to control operating costs, improve the quality of products and enlarge the customer base. With the PRC’s entry into the World Trade Organization, the government will gradually release constraints in the pearl and pearl jewelry retail industry, allowing more regulated development. Prospects of the pearl and pearl jewelry retail industry in the PRC therefore remain bright. The Group will accordingly take steps to enhance its participation in the pearl and pearl jewelry wholesale and retail businesses in the PRC and strengthen its development there.”

Man Sang will continue to adopt prudent yet aggressive operating strategies, and be well prepared to capture every opportunity for further expansion in the forthcoming recovery.

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Man Sang International Announces 1^st Quarter Results

August 14, 2002 / P.2

About Man Sang International Limited:

Man Sang was listed on the Hong Kong Stock Exchange in 1997. It is the first pearl company to be listed in Hong Kong. Its principal activities include the purchasing, processing, assembling, merchandising and wholesale distribution of pearls and pearl products, including Chinese cultured pearls, Chinese freshwater pearls, Japanese cultured pearls, Tahitian and South Sea pearls. It operates its own pearl processing facilities in Shenzhen, the PRC.

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