VANCOUVER, CANADA -- November 4, 2002 – Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today announced a special dividend of $1.00 per common share. The special dividend will be paid on December 6, 2002 to shareholders of record at the close of business on November 29, 2002.
As a result of the gain from the legal case and the gain from the investment in Huizhou TCL Mobile Communication Limited, which added over $13 million to the balance sheet of the Company, the Board of Directors is pleased to announce that it has decided to declare a special dividend of $1.00 per share to benefit the shareholders following its usual practice in respect of extraordinary income.
Regular Quarterly Dividend
In addition to today’s announcement of a special dividend of $1.00 per share, the Company will pay the regular fourth quarter dividend of $0.12 per share to shareholders of record at the close of business on December 31, 2002 with a payment date of January 21, 2003.
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.