RAJESH EXPORTS LIMITED

1. 1 RAJESH EXPORTS LIMITED All that glitters is…… Gold

2. 2 Important Notice This document contains selected information regarding Rajesh Exports Limited (the “Company”). It does not purport to be comprehensive or to contain all of the information that a prospective investor may desire in investigating the Company or the securities; hence each prospective investor should conduct its own independent due diligence in connection with any transaction involving the securities and seek the advice of its own professional advisors. The information contained in this document has not been independently verified. Neither the Company nor any of its affiliates, advisers, officers, representatives or agents make or will make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and any and all legal liability or responsibility is expressly disclaimed based on or relating to: (i) information contained in, or errors in or omissions from this document, or (ii) the recipient’s use of this presentation, or (iii) any other written or oral communications transmitted to the recipient or its affiliates, advisers, officers, representatives or agents in the course of its evaluation of the Company or its securities. Accordingly, no information contained in this document or any written or oral communication transmitted or made available to a recipient of this document: (i) is, or shall be relied upon, as a promise or representation, whether as to the past or future performance; or (ii) will form the basis of any contract. This presentation includes statements which may constitute forward-looking statements. Although the Company believes that the expectations contained in such forward–looking statements are conservative and reasonable, they involve many subjective assumptions and are subject to risks and uncertainties which could cause actual results to differ materially. Such statements are not guarantees of future performance. Accordingly, the Company and its respective affiliates, advisers, officers, representatives or agents give no (and will not give any) assurances, and no representation or warranties can be or will be made, as to the accuracy or attainability of such projections, estimates or other forward-looking statements. This document is neither an offering memorandum nor an offer or an invitation for the sale or purchase of any securities of the Company or a recommendation in relation to the foregoing. It is not intended to form, and should not be treated as, the basis of any investment decision.

3. 3 Contents

4. 4 COMPANY OVERVIEW

5. 5 Snapshot

6. 6 Manufacturing Process

7. 7 Manufacturing Process

8. 8 Saga of Rapid Growth

9. 9 Consistent Profitability Our topline has been growing impressively in line with the growing demand for Ductile Iron Pipes However, the profitability / EBITD margin has been impacted in recent years on account of rising input prices We are undertaking various cost saving initiatives to protect and grow our EBITDA margins going forward. Details of these cost saving initiatives are discussed later in our presentationOur topline has been growing impressively in line with the growing demand for Ductile Iron Pipes However, the profitability / EBITD margin has been impacted in recent years on account of rising input prices We are undertaking various cost saving initiatives to protect and grow our EBITDA margins going forward. Details of these cost saving initiatives are discussed later in our presentation

10. 10 Summarized Profitability Statement

11. 11 I, II & III QUARTER 2007-08 SUMMARISED PROFIT STATEMENT

12. 12 Achievements & Awards Ranked No. 1 Investor Friendly Company in a National Survey by Business Today The only “Premier Trading House” in Jewellery Sector in India “Overall Excellence in the category of Gold Exports” by the “Gem & Jewellery Export Promotion Council” for 13 consecutive year Karnataka State Government Best Exporter Award for past 9 years Awarded Gold Trophy for exports by Federation of Imports & Exports Accorded ‘Nominated Agency‘ status to import gold for domestic consumption. Ranked No. 1 in the Gems & Jewellery sector in India by Dun & Bradstreet Ranked as the ‘Second Fastest Growing Company’ in the Large Scale Sector. Accorded as the “Jeweller of the Year” Award by Jewellers Association, Bangalore

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14. 14 Rajesh Exports ranked as India’s second fastest growing company

15. 15 Management Team

16. 16 JEWELLERY MARKET

17. 17 World Market Current global gems and jewellery industry: US$ 85 billion (Gold demand is growing at 8-10% p.a. CAGR) Global gold market: 3,300 tonnes Major producers: South Africa, USA and Australia (45% of total output) Major consumers: India, USA (2/3 of India), China (1/3 of India)

18. 18 Indian Market India is world’s largest consumer of gold: At 850 tonnes p.a. Valued at US$ 18 billion Growing at 10% pa Indian gold demand is firmly embedded in cultural and religious traditions (Stridhan)

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20. 20 Mission 2007-2012

21. 21 Growth Engine #1 White-labelled jewellery Margin 15% Global market size: US$ 30-35 billion Target share: 2% Status: 1,300 exclusive designs developed Prototypes approved by large chain-storesacross the world, White labelled jewellery sales commenced from Q1 /2007/08.

22. 22 Growth Engine #2 Diamond studded jewellery Margin 25% Global market size: US$ 5 billion Target share: 5% USP: Honest pricing, Global Designs and Finish Launched Harmony, Eternal, Solitaire, I-teen, Filigree, Southern, Ghazal, Aishwarya and Sushmita brands of Diamond Jewellery in the domestic and International markets 700 exclusive designs have been launched

23. 23 Growth Engine #3 Retailing Retailing in India (to be followed by global rollout)Margin 10%; Indian Market size: US$ 18 billion; Target share: 4% Shubh – for mass market, to replace traditional jewellers Laabh – for up-market and elite clientele Oyzterbay – for the fashion conscious

24. 24 Jewellery Retail – India 96% is in unorganised sector (globally 70% is unorganised) Very highly fragmented (no pan-India stores) Over 400,000 small retailers and 850,000 goldsmiths Branded gold jewellery is a very recent phenomenon Branded jewellery accounts for only 4% of total jewellery market, but growing at 30-40% pa and is slated to constitute 10% of total jewellery market by 2009 Quality, consistency and variety of designs hold the key to retailing success

25. 25 Retail Venture USP Punch Mantra (the five doctrines) 22K GuaranteeBacked by life-time buyback guarantee Largest RangeBacked by proprietary library of 29,000 active designs TechnologyProprietary technology to ensure standardization, consistency, color, Tarnish free etc. Competitive PricingPowered by economies of scale, lowest manufacturing costs, lowest finance cost, technology resulting in lower use of gold for same design ServicePan-India network of retail showrooms providing life-time free repair service at any store

26. 26 24K Retail For sharper focus:All retailing ventures put under 100% subsidiary: 24K Retail Limited Team (ex-Oyzterbay, ex-Titan)Pioneers in creating branded retail jewellery in India with over 50 man-years of experience Team that created ‘super brands’ – Titan, Tanishq, Oyzterbay – are now part of the team at Rajesh Exports

27. 27 Shubh Shubh means ‘auspicious’ VFM platform (Value for Money) For mass market To replace mainstream urban and rural jewellery stores Consolidation play MOU signed to acquire circa 100 existing jewelry retail stores,many under no-purchase notice,to be re-launched under “Shubh” branded retail stores. First Phase Launch in Karnataka has already started with 8 stores launched 5,000 exclusive designs available at Shubh stores To expand to 450 stores over next 3 years

28. 28 Laabh Laabh means ‘profit’ Exquisite jewellery for up-market clientele Signature range of 3,000 individual jewellery designs Contemporary and modern designs in wide spectrum of plain gold jewelry, diamond jewelry, gold coins and solitaires To target a major share of the upcoming branded retailing Mainly urban centric in tier I cities 30 Laabh stores have been launched in 23 cities across India To expand to 150 stores in next 3 years

29. 29 Oyzterbay Oyzterbay – Jewellery for the Living ‘International Lifestyle’ platform – I own it! Targeted at youth and rapidly growing upwardly mobile economic strata To offer jewellery, watches, and accessories 1,200 exclusive pieces of jewellery designed for the Oyzterbay Collections To launch 30 stores in malls and shop in shops during Q1 of 2008-09 To expand to 150 stores in next 3 years

30. 30 Profile transformation

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33. 33 Corporate Structure

34. 34 Bangalore Infra To monetise land-bank owned by REL of 170,458.16 sq. ft of prime commercial space and 137 acres of land outside the city municipal zone Acquisition cost: US$ 25 million Estimated market value: US$ 200 million Post-development value: US$ 350 million Land bank, primarily in Bangalore – foremost technology growth engine of India Exponential appreciation in land bank value, due to low historic value To be managed by highly experienced industry professionals

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36. 36 Key Points …

37. 37 Market Snapshot

38. 38 Thank You!