VANCOUVER, CANADA -- November 5, 2002 -- Nam Tai Electronics, Inc., (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today announced that recent Rule 144 filings filed on behalf of its Chairman, Mr. Tadao Murakami, and its Chief Financial Officer, Ming Kown Koo by their broker relates to a sale of shares which was made without their instructions. As a result of a mistaken understanding by the broker 42,250 shares were sold in error for the accounts of Mr. Murakami and Mr. Koo respectively. Both Mr. Murakami and Mr. Koo had recently opened accounts with the broker but neither Mr. Murakami nor Mr. Koo provided the broker with any selling instructions and are requesting that the transactions be reversed.
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 RF 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.