VANCOUVER, CANADA -- January 31, 2005 -- 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 it has received a new customer order from RadioScape® Ltd. (“RadioScape”), one of the world leaders in Software Defined(TM) Solutions for Digital Radio applications, to build the Digital Audio Broadcast (“DAB”) modules.
DAB modules are designed into digital radio products such as home tuners, kitchen radios, in-car receivers, PCI cards, CD players, clock radios, boomboxes, midi-systems and handheld portable devices.
“We are very pleased to be offered an opportunity to manufacture this new product, the DAB module for RadioScape. The addition of RadioScape as our new customer shows Nam Tai’s success in further diversifying both of its product mix and customer base into the digital radio industry,” said Mr. Joseph Li, Chief Executive Officer of Nam Tai. “We will continue our aggressive marketing strategies in the global electronics market to further expand our customer base. Coupled with our strong manufacturing technology know-how and continued expansion of state-of-the-art manufacturing facilities, we are well positioned for continuous growth in our range of products and services as well as our customer base.”
RadioScape® Ltd. is one of the world leaders in Software Defined(tm) solutions for Digital Radio applications. RadioScape simplifies the creation of wireless receivers and transmission infrastructure for digital radio, partners with Texas Instruments to create digital radio chips for consumer products, and designs its own family of DAB/FM modules including the RadioScape RS200(tm), RS200L(tm), RS201(tm), RS350A, RS300L and RS250H(tm). Founded in 1996, RadioScape's investors include Royal Bank Ventures, Atlas Venture, Scottish Equity Partners, JAFCO, Texas Instruments, Yasuda Enterprise Development, iGlobe Partners, Psion and NTL. RadioScape is headquartered in London, England with offices in Singapore and Hong Kong. For more information, please visit http://www.radioscape.com
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.