Wins Ericsson As New Customer

VANCOUVER, CANADA -- May 29, 2001 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today announced Ericsson as a new customer. Ericsson has requested Nam Tai to manufacture a digital camera accessory product, model CommuniCam MCA-10, for use with GSM and GPRS mobile phones. Production is scheduled to commence in the third quarter.

Ericsson is the world's leading supplier in telecommunications with the largest customer base, including the world's top 10 operators. Ericsson provides total solutions covering everything from systems and applications to mobile phones and other communications tools.

By producing this type of mobile phone peripheral product for Ericsson Nam Tai can demonstrate its high quality, low cost manufacturing capabilities to one of the world’s leading telecommunication providers. The addition of Ericsson shows Nam Tai success in diversifying both its product mix and customer base into the telecommunication sector of the electronics industry.

According to AC Nielsen, digital image capturing products are expected to be one of the most popular consumer electronics devices in the next 12 months. Nam Tai’s success in winning a contract from Ericsson to manufacture a digital camera accessory for mobile phones illustrates Nam Tai’s ability to compete in this growth market segment of the electronics industry.

Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world’s leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules for cellular phones, lithium ion rechargeable battery packs, transformers and LCD panels. The Company utilises advanced production technologies such as chip on board (COB), chip on glass (COG), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai’s website at www.namtai.com.