GemsTV

The Company was incorporated with limited liability in the Cayman Islands on 23 April 2001. The Group (comprising the Company and its subsidiaries) is an integrated manufacturer and television home shopping retailer of colored gemstone jewelry. It sells its own handcrafted gemstone jewelry directly to customers primarily via television, as well as over the Internet, through a "reverse auction'' system. The Group is UK's leading dedicated television home shopping retailer of colored gemstone jewelry, and currently operates its business through three principal operating subsidiaries, a manufacturing subsidiary in Thailand and television home shopping subsidiaries in the USA and the UK. The Group currently owns and operates two fully integrated production facilities in Thailand. It also owns and operates one dedicated jewelry home shopping channel in the USA and two dedicated jewelry home shopping channels in the UK through which it sells exclusively its own handcrafted gemstone jewelry and the jewelry it purchases from its outsource partners. It also sells its products on the Internet, through its own websites www.gemstv.com, www.gemstv.co.uk and www.thaigem.com, as well as on third-party websites such as eBay. The Group has plans to expand into Japan, the PRC and Germany. The Group's principal places of business are currently in the USA, UK and Thailand.