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September 2006

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SAFE HARBOR

This presentation may contain certain “forward-looking” statements concerning expectations for strong sales, success of the Company’s merchandising, marketing and retail initiatives, and continued growth. Actual results might differ materially from those projected in the forward-looking statements as they are subject to various risks and uncertainties. These risks and uncertainties include the Company’s ability to maintain strong sales throughout the remainder of the Fiscal year, the ability of the Company to maintain strong growth and profitability, the Company’s ability to keep costs low, the Company’s ability to compete with other jewelers, the success of the Company’s marketing initiatives, the Company’s ability to have a successful customer service program, and the Company’s ability to attract and retain its key personnel. Information concerning factors that could cause actual results to differ materially are set forth in the Company’s annual report on Form 20-F filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

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COMPANY OVERVIEW

• Birks & Mayors was formed through a combination of two powerful brands

• A strong heritage and reputation

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COMPANY OVERVIEW

• Distinctive styling in fine quality jewelry and timepieces

• Consistently superior customer service

• A compelling brand experience

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COMPANY OVERVIEW

• We operate 67 retail stores under two brand names

• Birks with 39 stores across Canada

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• Mayors with 28 locations in Florida and Georgia

COMPANY OVERVIEW

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For Fiscal Year ended March 2006

Ticker: BMJExchange: AMEXPrice: $7.25 (9/15/06)

Revenue of $274.3M, +15% increase over prior fiscal year

Comparable store sales increase of 11%

Operating profit $14.7M, +49% increase over prior year

COMPANY OVERVIEW

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BRIEF HISTORY

• Birks, established in 1879, is a premier designer, manufacturer and retailer of luxury jewelry, timepieces and giftware across Canada

• Mayors, founded in 1910, is a leading purveyor of fine quality jewelry, timepieces and giftware, in the southeastern U.S.

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THE JEWELRY INDUSTRY

• U.S. and Canadian markets account for $62.5 billion in jewelry and watch sales

• U.S. market growing at an average compounded annual rate of 4.5% over the past ten years

• Fragmented industry with top ten operators representing 25% of industry sales

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4. Superior Brand Experience

3. Vertical Integration

2. Distinctive Product Offerings

1. Powerful Retail and Product Brands

COMPETITIVE STRENGTHS

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• THE authority for bridal and fine jewelry in Canada

• The Amorique Diamond – Birks proprietary stone

COMPETITIVE STRENGTHSDistinctive Product Offerings

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• Signature Designers:

Esty, Toni Cavelti,

Jose Hess andMichele della Valle

• Position us to offer differentiated and exciting merchandise

COMPETITIVE STRENGTHSDistinctive Product Offerings

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Finest selection of

Swiss timepieces

COMPETITIVE STRENGTHSDistinctive Product Offerings

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Exclusivity in Canada

with Van Cleef & Arpels,

Roberto Coin, Kwiat,

and Vera Wang

COMPETITIVE STRENGTHSDistinctive Product Offerings

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Vertical Integration of Design, Manufacturing and Retail

• Strong quality control with exacting standards

• Capability to provide customized, uniquely designed jewelry

• Control over availability of core product

• Improved merchandise margin

• Facilities in Montreal, Vancouver, Rhode Island and Florida

COMPETITIVE STRENGTHS

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COMPETITIVE STRENGTHS

• Creating an emotional connection

• Offer personalized service

• Deliver a welcoming luxury environment

• Our retail brands represent trust and integrity to our clients

The Brand Experience

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GROWTH INITIATIVES

• Continue to implement initiatives in merchandising and marketing to drive sales

• Selectively expand store base

• Improve operating margins

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MERCHANDISING AND MARKETING STRATEGY

• Expand Birks product brand

• Further develop our branded products

• Emphasize exclusive third-party brands

• Cross merchandise proven assortments

Merchandising

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• Accelerated brand development

• Targeted and integrated marketing plan

• Compelling public relations program

MarketingMERCHANDISING AND MARKETING STRATEGY

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STORE EXPANSION

• Expand square footage by 2-3% per year

• Evaluate acquisition opportunities

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GROSS MARGIN EXPANSION

Gross margin opportunities– Products are designed, developed and manufactured

internally

– Emphasize higher margin merchandise categories

– Leverage manufacturing operations

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LONG TERM GOALS

– Increase comparable store sales– Expand square footage– Expand operating margins– Reinvest cash flows– Reduce debt

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Thomas A. AndruskevichPresident and CEO

Joseph A. Keifer, IIIEVP and Chief Operating Officer

Executive

Daisy Chin-LorEVP and Chief Marketing Officer

Michael RabinovitchSVP and Chief Financial Officer

John OrricoSVP and Chief Supply Chain Officer

34 years

34 years

Experience

26 years

14 years

17 years

10 years

9 years

Current Tenure

1.5 years

1 year

3 years

Mondi of America, Tiffany & Co.

Montgomery Ward, Zales, Bailey,Banks & Biddle

Prior Experience Includes

Elizabeth Arden Spas, Chanel, Avon

Claire’s Stores, Price Waterhouse LLP

Tiffany & Co., Krementz

EXPERIENCED MANAGEMENT TEAM

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FINANCIAL OVERVIEW

Mike Rabinovitch, CFO

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FINANCIAL OVERVIEW

Sales$ in Millions

$274.3

$239.3$216.3

$0

$100

$200

$300

2004 2005 2006

Comparable Store Sales Growth

11%

7%

10%

0%

5%

10%

15%

2004 2005 2006

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Gross Margin

47.2%

45.7%

45.0%

42%

44%

46%

48%

2004 2005 2006

Net Income$ in Millions $5.7

$1.2

($2.2)

-$3.0

$0.0

$3.0

$6.0

2004 2005 2006

FINANCIAL OVERVIEW

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FISCAL 2006 FINANCIAL REVIEW

Fiscal Year Fiscal Year Ended Ended March 25, March 26, 2006 2005 (In thousands except per share data) Net sales $ 274,323 $ 239,301 Comparable store sales growth 11% 7% Gross Profit $ 129,514 $ 109,264 Gross margin 47.2% 45.7% Total operating expenses $ 114,832 $ 99,432 Operating income $ 14,682 $ 9,832 EBITDA $ 20,303 $ 14,581 Net income $ 5,712 $ 1,167 Net income per diluted share $ 0.57 $ 0.17

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FIRST QUARTER FISCAL 2007 FINANCIAL REVIEW

Fourteen Thirteen Weeks Ended Weeks Ended July 1, June 25, 2006 2005 (In thousands except per share data) Net sales $ 68,557 $ 56,239 Comparable store sales growth 9% 6% Gross Profit $ 32,824 $ 26,825

Gross Margin 47.9% 47.7% Total operating expenses $ 31,288 $ 25,905 Operating income $ 1,536 $ 920 EBITDA $ 3,230 $ 2,139 Net loss $ (913) $ (1,288) Net loss per diluted share $ (0.08) $ (0.18)

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FIRST QUARTER BALANCE SHEET Fourteen Thirteen Weeks Ended Weeks Ended July 1, June 25, 2006 2005 (In thousands) ASSETS Current assets: Cash and cash equivalents $ 1,607 $ 1,475 Accounts receivable, net 10,443 7,987 Inventories 161,622 144,328 Other current assets 5,516 3,039 Total current assets 179,188 156,829 Property, net 33,988 30,284 Goodwill and intangible assets 30,268 15,866 Other assets 1,505 2,140 Total assets $ 244,949 $ 205,119

LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Total current liabilities 156,617 123,109 Long-term debt 17,593 29,802 Convertible notes - 5,000 Other long term liabilities 3,902 4,221 Total long term liabilities 21,495 39,023 Convertible preferred stock - 5,050 Total stockholders' equity 66,837 37,937 Total liabilities and stockholders' equity $ 244,949 $ 205,119

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WHY BIRKS & MAYORS?

• Strong market position

• Significant growth opportunities

• Experienced and motivated team

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