Begins New Business Manufacturing RF Modules for Mobile Phones

VANCOUVER, CANADA -- October 8, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW) announced that in addition to its existing business of manufacturing LCD modules for mobile phones, Nam Tai has received orders from a new customer to produce radio frequency, or RF, modules, another key component for mobile phones. Nam Tai is setting up new production lines for this new business temporarily in its existing factory. In order to handle future orders, Nam Tai has reserved another two floors for clean room facilities in its new factory building, which it expects will be completed soon.

“Nam Tai is pleased that it is being afforded the opportunity to advance its manufacturing technology in order to produce RF modules. This new product complements Nam Tai’s production of LCD modules and expands Nam Tai’s services for OEM customers in the mobile phone market,” commented Mr. Tadao Murakami, Nam Tai’s Chairman.

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, 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 statements regarding future orders and Nam Tai’s completion of its new factory building soon are forward looking statements that are subject to the actual receipt of those orders and completion of its factory premises in a timely manner. 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.