History of Renaissance Jewellery Ltd.

We were originally incorporated on December 04, 1989 as Mayur Gem & Jewellery Export Private Limited & were engaged in the business & manufacture of jewellery. Mr. Chandrakant Dhanak & Mrs. Darshana Dhanak were the original promoters of our Company. In the year 1995, Mr. Niranjan A. Shah & family acquired the entire shareholding of Mayur Gem & Jewellery Export Private Limited.

With effect from April 16, 1997 our Company name was changed from Mayur Gem and Jewellery Export Private Limited to Rinaissance Gem and Jewellery Export Private Limited.

Merger of Sur Style Jewellery Private Limited with Renaissance Jewellery Limited

With effect from April 1, 1998 effective date the business of Sur Style Jewellery Private Limited Sur Style engaged in manufacture & export of studded jewellery was merged into our Company under the provisions of Section 395[4As] of the Companies Act, 1956. The Scheme of Merger was registered with the Registrar of Companies, Mumbai at Maharashtra on July 1, 1999. Vide the said scheme, all assets & liabilities of Sur Style were taken over by our Company. Pursuant to the same, our Comp. issued three Equity Shares of Rs. 100/ each to the shareholders of Sur Style for every two Equity Sharesof Rs. 100/- each held by them in Sur Style. The paid-up share capital of Sur Style was Rs.49,96,000 divided into 49,960 Equity Shares of Rs 100 each, consequently 74,940 Equity Shares were issued by our Comp. to the shareholders of Sur Style. Further, as per the requirements of Section 395[4As] of Companies Act, 1956 our application for striking off the name of Sur Style under section 560 of Companies Act was accepted & with effect from April 20, 2006 the name of Sur Style has been struck off from the Register of Companies.

With effect from July 1, 2000 our Comp. became a deemed public Comp. under section 43A [1As] of the Companies Act,1956 on achieving average annual turnover of more than 25 crores for the last 3 consecutive preceding years. Pursuant to the Companies [Amendments] Act, 2000 our Comp. made an application vide its letter dated February 21, 2001 to the Registrar of Companies, Maharashtra at Mumbai for conversion from deemed public Comp. to private company under section 43A[2As] of Act. Our Company's name was thereafter changed to Renaissance Jewellery Private Limited with effect from April 5,2002.

On December 20, 2005, our Comp. was converted to a public limited Comp. from private limited Comp. & our name was changed to Renaissance Jewellery Limited. In September 2007 Renaissance Jewelry New York Inc [RJNYs], a venture promoted by our Promoters, which has been incorporated under the US laws, issued 100 fully paid up & non-assessable shares of RJNY out of its total authorized issue of 200 shares without par value common stock. The total consideration for the purchase of common stock was $10,000 at a price of $ 100/- per share of Corporation. By virtue of this allotment of common stock of RJNY, RJNY has become our100% foreign subsidiary with effect from September 12, 2007.

In July 2007, we also commenced exports of loose diamonds from our facility situated at Opera House, Mumbai.

The main objects of our Comp. are as follows: To carry on the business of Jewellery, ornamentalists, and to manufacture,buy, sell, import export or otherwise trade & deal in, jewellery, ornament, artifacts, china, curious, antiquesidols & other obiects of every type whatsoever made from or composed either wholly or in part of gold, silver, platinum brass, copper diamonds & other precious, nonprecious semi-precious metals & stones. Our Comp. had filed its DRHP document on one occasion, with SEBI & the Stock Exchanges. We had initially filed our Draft Red Herring Prospectus with SEBI, BSE & NSE on April 28, 2006 for a public issue of 35,10,000 Equity Shares of Rs. 10/- each. NSE & BSE vide their letters dated June 22, 2006 & June 5, 2006 respectively, had given in-principle approvalfor listing. SEBI had issued its observation vide its letter No. CFD/DIL/NB/JAK/72591/2006 dated July 27, 2006. However, on Acc. of unfavourable market conditions, we did not proceed with the Issue.

Year Description 1989 Incorporated as Mayur Gem & Jewellery Export Private Limited

1995 Current Management acquired Mayur Gem & Jewellery Export PrivateLimited on a going concern basis.

1999 Merger Of Sur Style Jewellery Private Limited with our Comp. witheffect from April 1, 1998

2000 Purchased the facility & commenced business at Plot 36A-37 measuring 40,000 sq.ft. from Saha Electronics.

2001 Received Export Performance Award from SEEPZ-SEZ as SEEPZ-SE Star 2000-2001 for export of over Rs 75 crores from the zone in the GemAnd Jewellery Sector during 2001

2002 Certification of facility[36A and 37s] by Wal-Mart and commenced business with Wal-Mart

2004 Commenced business with Zales Corporation-the largest speciality jewellery chain in North America

2005 Received `International Supplier of Year' award from Wal-Mart for year 2004 Set-up a 100% EOU in Bhavnagar, Gujarat in a facility measuring 64,000 sq.ft. & commenced businessReceived Business Excellence Model [BEMs] Certification as a Certified Diamond Jewellery Manufacturerfrom Rio Tinto Diamonds- An Australian mining companyConversion of our Comp. from private to public limited.

2006 Renaissance Retail Venture Private Limited & Verigold Fine Jewellery Private Limited became ourCompany wholly-owned subsidiaries. Certificate of Merit by GJEPC for being the second largest exporterof studded precious metal jewellery f rom SEEPZ-SEZ for year 2005-06

2007 Recognition as Three Star Export House Setting up of Renaissance Jewelry New York, Inc, a 100% subsidiary of our Company.