VANCOUVER, CANADA -- April 12, 2007 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE) today announced that it is accepting, with regret, the resignation of Mr. Warren Lee as Nam Tai’s Chief Executive Officer, effective May 31, 2007, so that Mr. Lee can accept the position of Managing Director of Yu Ming Investments Limited (“Yu Ming”).
Yu Ming is an investment company listed in Hong Kong, engaged in investments of property, private equity, structured financing and listed securities. Before joining Nam Tai, Mr. Lee had served Yu Ming since July 1992.
“I was asked personally by the person-in-charge of Yu Ming to succeed him,” Warren Lee said, “and it is a gesture I just could not decline. During my short tenure at Nam Tai, I have come to appreciate its business ethic and the dedication of its management team. It is truly an organization of which to be proud.”
“Mr. Lee has brought with him a new perspective for Nam Tai’s management. His presence with us, although of short duration, has been positive and he has made a valuable contribution to Nam Tai. We regret but understand his decision,” said Mr. M. K. Koo, Nam Tai’s Chairman and founder, “and wish him every good fortune in his new challenge.”
Pending the identification or recruiting of a suitable successor for Mr. Lee, Mr. Koo will assume the duties and responsibilities as Nam Tai’s Chief Executive Officer.
ABOUT NAM TAI ELECTRONICS, INC.
We are an electronics manufacturing and design services provider to a select group of the world’s leading OEMs of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and sub-assemblies, including LCD panels, LCD modules, RF modules, FPC sub-assemblies and image sensors modules. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including personal digital assistants, electronic dictionaries, calculators, digital camera accessories and BluetoothTM wireless headsets for use with cellular phones.
Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited (“NTEEP”) and J.I.C. Technology Company Limited (“JIC”). Interested investors may visit the website of The Stock Exchange of Hong Kong at www.hkex.com.hk to obtain the information. The stock codes of NTEEP and JIC registered with The Stock Exchange of Hong Kong are 2633 and 987 respectively. Investors are reminded to exercise caution when assessing such information and not to deal the shares of the Company based solely on such information.