Starts New Business Manufacturing Color LCD Modules for Mobile Phones

VANCOUVER, CANADA -- November 11, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW) today announced it has received new orders to produce color LCD modules for mobile phones.

“Mobile phones with color displays is the global trend,” said Mr. Tadao Murakami, Chairman of Nam Tai. “It is anticipated that more and more leading mobile phone manufacturers will switch from monochrome displays to color displays in 2003. Nam Tai is proud to continue upgrading its technology to successfully participate in this global trend which is expected to strengthen our competitive position in the mobile phone components manufacturing industry. Nam Tai is dedicated to becoming the preferred supplier of components for leading manufacturers of mobile phones.”

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 and radio frequency modules, both for mobile phones, transformers and LCD panels. The Company utilizes advanced production technologies such as chip on board (COB), chip on glass (COG), chip on film (COF), 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 web site at www.namtai.com.

Except for the historical information contained herein, matters discussed in this press release are forward-looking statements. For example, the statement regarding Nam Tai’s competitive position is a forward looking statement dependant upon many factors including introduction of new technologies by competitors and end user demand for color screen mobile phones. Other factors that might cause differences in these and the other forward looking statements, include those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time, such as the factors set forth in Item 3 "Key Information - Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 2001.