VANCOUVER, CANADA -- December 9, 2004 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange Symbol: 884852) announced that its shares have been included in the PowerShares Golden Dragon Halter USX China Portfolio, an exchange traded fund (ETF) based on the Halter USX China Index. Trading of this ETF began today on the American Stock Exchange under the ticker symbol PGJ.
The Halter USX China IndexSM is calculated by the American Stock Exchange (Amex®). It is comprised of companies whose common stock is publicly traded in the United States and the majority of whose business is conducted within the People's Republic of China. The Halter USX China IndexSM was created in response to the unique economic opportunities taking place in China, as well as the current dynamics in the United States capital markets. While there is strong demand for Chinese equity, many U.S. investors still seek and prefer the transparency offered with a U.S. listing.
For a company to be included in the Halter USX China IndexSM it must have an average market capitalization of more than $50 million for the preceding 40 days, trade on the NYSE, Nasdaq or Amex® and must be approved by the Selection Committee. Nam Tai’s weight on the index as of December 7, 2004 was 1.52%.
About Nam Tai Electronics, Inc.
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, LCD modules, radio frequency modules, flexible printed circuit sub-assemblies and image sensors. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones.
Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited (“NTEEP”) and J.I.C. Technology Company Limited (“JIC”). Interested investors may go to the website of The Stock Exchange of Hong Kong at www.hkex.com.hk to obtain the information. The stock code of NTEEP and JIC in The Stock Exchange of Hong Kong are the 2633 and 987 respectively. Investors are reminded to exercise caution when assessing such information and not to deal with the shares of the Company based solely on reliance of such information. The results of NTEEP and JIC only represent a part of the results of the Company and there are GAAP differences in the financial statements of NTEEP and JIC, when compared with the financial statements of the Company. Furthermore, different subsidiaries of the Company may have a different peak season during a year.