VANCOUVER, CANADA -- March 4, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced the appointment of Mr. Guy Bindels as its Research and Development Director with immediate effect. Mr. Bindels will be in charge of Nam Tai’s research and development department. In his new job, he will be responsible for formulating R&D strategies and spearheading the Company to keep abreast of the latest development in global manufacturing technology as well as strengthen its R&D division.
Mr. Bindels has over 19 years experience in the research and development for telecommunications products in Alcatel, a leading supplier of telecommunication infrastructures. Before joining Nam Tai, he was the Product Development Manager of Atlinks Hong Kong, a subsidiary of the Alcatel /Thomson multimedia joint venture company, in charge of the telecommunication product development for all markets in the world (except US and Canada market). Prior to that, Mr. Bindels held other positions of heightened responsibilities in Alcatel, including R&D Program Manager and Product Development Manager. Mr. Bindels, a native of France, graduated in France with a Masters degree in Electronics Engineering in 1983.
“We are pleased to appoint Mr. Guy Bindels as Nam Tai’s Research and Development Director,” said Mr. Tadao Murakami, Chairman of Nam Tai. “Mr Bindels will be invaluable in assisting us in the high end telecommunication product market in which we operate today and providing guidance at the Board level on the advanced technology product development. With his expertise in research and development of telecommunication products, we believe that Mr. Bindels will bring a broad array of skills and professional experience to the direction of our products development and diversification to meet the continued increase of demands from our clients.”
Mr. Tadao concluded, “We are strengthening our senior management team to support the continued growth of Nam Tai. We believe that Mr. Bindels will bring substantial experience and knowledge to this demanding position, and we look forward to benefiting from his contribution.”
The Company will pay the first quarter 2003 dividend of $0.15 per share on April 21, 2003 to shareholders of record at the close of business on March 31, 2003. On February 14, 2003 the Company announced, for the tenth consecutive year, an increase in its dividend. The annual dividend was increased to $0.60 per share for 2003 up from $0.48 per share in 2002.
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 PC’s, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones. Further information is available at www.namtai.com.