VANCOUVER, CANADA -- October 12, 2004 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange Symbol: 884852) is pleased to announce that Ms. Wong Kuen-ling, Karene, Chairman of Nam Tai Electronic & Electrical Products Limited (“NTEEP” ) (HKEX Stock Code: 2633), a subsidiary of the Company, has received the Young Industrialist Awards of Hongkong 2004, organised by the Federation of Hong Kong Industries.
Ms. Wong joined the Nam Tai Group in 1989 and became a director of Namtai Electronic (Shenzhen) Co., Ltd. (“NTSZ”), a subsidiary of NTEEP in 1998, where she was instrumental in securing as customers some of the world’s leading brand owners of consumer electronics and communications products including Sony Ericsson, Sony Computer Entertainment, OmniVision and Appeal Telecom. She became Managing Director of NTEEP in 2001 and subsequently Chairman in 2003.
Ms. Wong pioneered the diversification of NTEEP’s business to include the production of high growth and large volume products such as optical devices, home entertainment devices, mobile phone accessories and educational products. NTEEP’s turnover grew by a CAGR of 32.5% between 2001 and 2003, and reached US$128 million in 2003. Ms. Wong is responsible for overseeing strategic planning and development, marketing strategy, and the overall management of NTEEP and its subsidiaries.
Nam Tai’s Chairman, Mr Tadao Murakami said, “We are extremely proud of Karene’s achievements and the successful manner in which she has led NTEEP’s business growth. Her award is recognition that every member of Nam Tai can also be proud to share. Nam Tai will continue to develop talented individuals to take on greater responsibility and to lead our Company towards an even brighter future.”
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 on 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 different peak season during a year.