VANCOUVER, CANADA -- January 21, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI; NYSE Symbol: NTE (as of Jan 23/03); CBOE Symbol: QNA) today announced the appointment of Mr. Oshik Kong as Nam Tai’s Sales and Marketing Director for further business expansion. Mr. Kong will be responsible for marketing and business development. Mr. Kong has over 24 years of sales and marketing experience in electric, electronic and home appliance goods in the world’s leading Korean based electronics company, LG Electronics. He has a proven track record of establishing worldwide subsidiaries, management, strategic planning and business development in the United States, Europe, South America and Greater China.
Before joining Nam Tai, Mr. Kong served as the Vice President and General Manager of LG Electronics’ IT Overseas Sales Division. During his 24 years with LG Electronics, he held a variety of leadership positions in LG Electronics’ divisions and subsidiaries, which included Color Monitor Business Division, New Business Development Division and Europe Operation. He also held senior positions in a subsidiary of LG Electronics in the United Kingdom and its Hong Kong branch office. His outstanding performance assisted LG Electronics in securing various achievements in the industry including achieving in 2001 15% sales growth to reach an annual export sales record of US$3 Billion and doubling the sales volume of LG brand optical storage driver over the prior year period. As a result, LG Electronics’ No.1 market share position on color monitors and optical storage products increased from 7 countries in 2000 to 15 countries in 2001.
“Nam Tai is pleased to welcome Mr. Kong from Korea to join its big family. With his distinguished track record and extensive experience in sales and marketing electronics related products, we believe that Mr. Kong’s contribution will be a significant asset to a continually growing multinational company like Nam Tai,” commented Mr. Tadao Murakami, Nam Tai’s Chairman. “In line with our corporate strategy of business expansion, Nam Tai would like to invite more industry professionals and expertise from all over the world to further strengthen our multinational management team. An experienced multinational management team is definitely one of Nam Tai’s competitive advantages. We believe that utilizing the strengths of the individual cultures within our multinational expertise greatly benefits the Company. In addition, with the establishment of such a strong worldwide network, Nam Tai expects to further enhance both its horizontal and vertical business development in the future.”
Fourth Quarter Results and Analyst Conference Call
Nam Tai will release its unaudited fourth quarter results for the period ended December 31, 2002 and its planned decision for the 2003 dividend amount at the close of the market on Friday, February 14, 2003. The Company will hold a conference call on Tuesday, February 18, 2003 at 10:00 a.m. Eastern Time for analysts to discuss the fourth quarter results with management.
Analysts who wish to participate on this conference call should contact the Investor Relations Office at 1-800-661-8831 no later than 6:00 p.m. Eastern Time on Friday, February 14, 2003 to register and obtain the toll-free dial-in number.
Shareholders, media, and interested investors are invited to listen to the live conference call over the Internet by going to http://www.namtai.com/news/news.htm and clicking on the conference call link or over the phone by dialing 612-288-0318 just prior to its start time. Users will be asked to register with the conference call operator.
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, wireless communication terminals and their modules, 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 at www.namtai.com.