Purchases Land to Expand Manufacturing Complex

VANCOUVER, CANADA -- May 28, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today announced that with the support of the government of Baoan County, Shenzhen, China, the Company purchased a 160,000 square feet vacant lot bordering its existing manufacturing complex at a favourable price of approximately US$220,000. Together with another vacant adjacent lot purchased in April 1999, the Company now has 440,000 square feet of available industrial land for future expansion. Nam Tai is very excited to have the opportunity of acquiring this land, and will reserve for planning the construction of more manufacturing facilities for continuous business growth.

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 utilises 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.