VANCOUVER, CANADA -- April 7, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced that it has received a new order to manufacture 50,000 attachable cameras for cellular phones from a new customer. These attachable cameras are the video graphics array (VGA) resolution digital camera accessory products of 300,000 pixels that can be supported by cellular phones. Nam Tai expects to deliver the attachable cameras during the second quarter of 2003.
“Besides manufacturing snap-on cameras for an existing customer, we are pleased to be offered an opportunity to manufacture attachable cameras for cellular phones of another customer. This new order demonstrates that customers have recognized Nam Tai’s manufacturing technology and capability. We also believe it illustrates Nam Tai’s ability to compete in this market segment of the electronics industry,” said Mr. Tadao Murakami, Chairman of Nam Tai. “We believe that the demand for cellular phones with digital cameras is giving a boost to the electronic manufacturing industry and that Nam Tai will benefit from the business opportunities arising in this area.”
Atypical Pneumonia or SARS
There has been a recent outbreak of atypical pneumonia, which is being referred to as severe acute respiratory syndrome or SARS, in Hong Kong and China where our operations are located. This outbreak is being investigated by the World Health Organization and several other health agencies and has been widely reported by news services around the world. To date, we are not aware that any of our employees have contracted this illness. For the personal safety of our employees, we have issued directions to our employees, to minimize business travel so as to reduce the possibility of contracting SARS. We have also distributed N95 particulate filter respiratory masks to our employees in Hong Kong and China. We currently do not believe that this condition has had a material impact on our operations or financial results of the first quarter and second quarter to date. A prolonged outbreak or further limitations on our business activities however could negatively impact our future operating results.
About Nam Tai
We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, transformers, LCD modules and radio frequency modules. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys and microwave ovens. We also manufacture finished products, including cordless phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones. Further information is available at www.namtai.com.