VANCOUVER, CANADA -- February 6, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW) today announced that for the nineth consecutive year it is increasing its dividend. The annual dividend will increase to $0.48 per share for 2002 up from $0.40 per share in 2001. The increase in the dividend is intended to show Nam Tai’s confidence for continued growth. The Company will pay quarterly dividends of $0.12 per share commencing with the first quarter dividend to be paid on or before April 21, 2002 to shareholders of record at the close of business on April 1, 2002.
Annual General Meeting Record Date
The Company will hold its Annual Shareholders Meeting on Friday, June 14, 2002 at 11:30 a.m. in Los Angeles. The record date is May 1, 2002.
Fourth Quarter Results Analyst Conference Call Replay
Shareholders, media, and interested investors who were not able to listen to Monday’s Fourth Quarter Results Analyst Conference Call are invited to listen to a replay of the call over the internet by visiting Nam Tai’s website at www.namtai.com or by clicking http://www.videonewswire.com/event.asp?id=2673.
Changes to Senior Management and the Board of Directors
The Company is pleased to announce that Mr. Tadao Murakami will again assume the position of Chairman of the Board following Mr. Takizawa’s retirement and resignation as a director. Mr. Takizawa will continue to support Nam Tai as a technical consultant, and director for two of Nam Tai’s subsidiary companies. Mr. Murakami previously served as Nam Tai’s Chairman from September 1998 until March 2001.
The Company is also pleased to announce the promotion of Mr. Joseph Li from the position of President to Chief Financial Officer. Mr. Li will supervise all financial controllers in the Nam Tai Group to handle daily finance and operating matters. Mr. Li replaces Mr. Koo who is retiring as the acting Chief Financial Officer. Mr. Koo will remain as an executive director.
The Company’s Chief Executive officer continues to be Mr. Toshiaki Ogi who joined Nam Tai in February 2001. Prior to joining Nam Tai Mr. Ogi was a senior director for Toshiba Battery Co., Ltd., Nam Tai’s joint venture partner in its rechargeable battery pack business. Mr. Ogi has 35 years of sales and marketing experience with Toshiba Corp. including 1.5 years with Toshiba Battery.
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, lithium ion rechargeable battery packs, transformers and LCD panels. The Company utilises advanced production technologies such as chip on board (COB), chip on glass (COG), 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.