VANCOUVER, CANADA -- August 18, 2004 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange Symbol: 884852) announced that Ming Kown Koo, Nam Tai’s Chief Financial Officer, between Aug 4, 2004 and today, purchased 565,400 common shares of the Company at an average price of $17.64 per share for a total consideration of approximately $10.0 million. This follows Mr. Koo’s purchase of 564,000 common shares in early May, 2004 at a consideration of $10.0 million, resulting in a combined total investment of approximately $20.0 million for 1,129,400 common shares. As a result of the above purchases Mr. Koo’s ownership interest in Nam Tai has increased to approximately 15.1% of the Company’s outstanding common shares.
The record date for the third quarter dividend of $0.12 per share is September 30, 2004 and the payment date is October 21, 2004.
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.