VANCOUVER, CANADA -- September 23, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced that it has opened the new trade union building for the use of its workers in China. With a view to providing better recreational facilities and better benefits to the staff to enhance their sense of belonging, Nam Tai invested approximately $2 million last year to build the new trade union building to replace the old one and Nam Tai has equipped the building with some new recreational facilities. The new two-storey trade union building with approximately 35,000 square feet provides a full range of facilities such as Internet bar, library, gym room, chess room, karaoke room, ping-pong room, etc.
“Since 1992, Nam Tai has trained and educated its workers to build up their own trade union. With the great support from the Company, the Nam Tai Trade Union has become one of the most reputable trade unions in China. In addition, with its well-organised structure and system, Nam Tai Trade Union has received a number of awards from the government,” said Mr. Tadao Murakami, Chairman of Nam Tai. “Mr. Wang Xi Quan, Chairman of Nam Tai Trade Union, has further been appointed as a representative of the Shenzhen Municipal People’s Congress. His honored position has made a significant contribution to the development of Nam Tai Trade Union. Besides, the Nam Tai Trade Union also provides a great channel of smooth communication between the workers and the Company. So far up to now Nam Tai has gained full employees loyalty.”
With its mission of the “self-less giving and supportive service to others,” Nam Tai Trade Union has donated approximately $213,000 to a secondary school in Gui Zhou Province, PRC. The donation will be used for the students’ benefit, including but not limited to the installation of a multi-media learning system in the school, establishing a scholarship and constructing a student dormitory.
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, LCD modules, radio frequency modules, 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.
Certain statements in this press release are "forward-looking statements" within the meaning of U.S. federal securities laws. Nam Tai intends that these statements be covered by the safe harbors created under these laws. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Many of these factors are beyond Nam Tai's ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements, which only speak as of the date of this press release. Nam Tai does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.