VANCOUVER, CANADA -- March 31, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced that it has received notice from cellular phone maker Huizhou TCL Mobile Communication Co. Ltd. (“TCL Mobile”) that it has declared a dividend of $48.16 million for the year ended December 31, 2002. For the year ended December 31, 2002, TCL Mobile announced sales of approximately $1.0 billion (HK$7,875.8 million), an increase of 289% from the sales it reported for the year ended December 31, 2001 and an increase for 2002 in profit attributable to shareholders of 290% to approximately $153.6 million compared with such profit for the year ended December 31, 2001. With an effective 3.033% holding interest in TCL Mobile, Nam Tai expects to receive its share of the cash dividend of approximately $1.46 million.
“Being a shareholder and supplier of TCL Mobile, we are pleased to see TCL Mobile’s outstanding performance during 2002,” said Mr. Tadao Murakami, Chairman of Nam Tai. “We are confident that TCL Mobile will continue to grow and bring returns to its shareholders.”
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.