Man Sang Holdings, Inc. Announces The Appointment of New Chief Financial Officer.

Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 7, 2003

Man Sang Holdings, Inc. (OTC Bulletin Board: MSHI - news) today announced the appointment of Mr. Au Moon Ying, Henry as Chief Financial Officer on August 6, 2003.

Mr. Au has served as Group Financial Controller of Man Sang since October, 2002. He has over 15 years financial management, accounting, auditing, business planning and development experience in a blue chip listed conglomerates in Hong Kong and in international accounting firm. He is a Certified Public Accountant in Hong Kong, a fellow member of the Chartered Association of Certified Accountants, an associate member of the Hong Kong Society of Accountants, an associate member of the Institute of Canadian General Accountants and an associate member of Association of Business and Administrative Computing.

Simultaneously to the appointment of Mr. Au, Mr. Cheng Chung Hing, Ricky resigned as Chief Financial Officer of the Company. Mr. Ricky Cheng is still Man Sang's Chairman of the Board, President and Chief Executive Officer.

Man Sang, founded in the early 1980's, is one of the world's largest purchasers and processors of Chinese cultured and freshwater pearls. The Company owns and operates an industrial city in Shenzhen, the PRC, which houses its pearls and jewelry processing facilities. It distributes both its pearls and jewelry products to customers worldwide.