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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: lindalib who wrote (15503)	6/11/1999 2:53:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 43080

06/08 17:31 Nam Tai Electronics, Inc. Corporate Update <NTAI.O><NTAIW.O> Nam Tai Electronics, Inc. Corporate Update VANCOUVER, British Columbia, June 8 /PRNewswire/ -- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (Nasdaq: NTAI, NTAIW) today announced a general corporate update and positive outlook for future business. Stock Price There are no corporate developments to account for the recent weakness in the share price. The Company's business is proceeding as usual. Nam Tai's Chairman, Mr. Murakami, commented, "Trading volume on the stock has increased but the Company's finances, management team, relationships with customers and future prospects remain unchanged. Our business plan for 1999 is proceeding on schedule and we continue to expect a strong rebound in sales and profits in 1999." Update on Albatronics Restructuring In the event that Albatronics ceases operations, Namtai is interested in acquiring certain of the assets of that company to expand its manufacturing capacity. The Company's investment in Albatronics was fully written off in 1998 and the cessation of business by Albatronics is not expected to negatively impact Namtai's results as Nam Tai has not provided guarantees for any of Albatronics' debts. Upcoming Analyst Trip to Hong Kong and China The Company will be hosting a trip to Hong Kong and Shenzhen China to visit Nam Tai's facilities. The trip is being organized for the middle of August 1999. Interested analysts and investors are encouraged to contact the Company for further details about attending the trip. Dividend As previously announced, the record date for the second quarter dividend of $0.08 per share is June 30, 1999 and the payment date is on or before July 16, 1999. Annual General Meeting As previously announced, Nam Tai's Annual Meeting of Shareholders will be held at 11:30 a.m. on June 11, 1999 at the Peninsula Hotel, 700 5th Avenue at 55th Street, New York, New York. The record date for the annual meeting was April 26, 1999. 1998 Corporate Materials The 1998 annual report is available to interested investors. Also available is the Company's corporate video on VHS or CD ROM. These materials can be requested by contacting Nam Tai's Investor Relations Department by toll free telephone/facsimile at 800-661-8831, or by e-mail through investor@namtai.com. Nam Tai Electronics, Inc. is a consumer electronics design and manufacturing service provider to some of the world's leading original equipment manufacturers. Products manufactured by Nam Tai include palm-sized PCs, personal organizers, personal digital assistants, linguistic products, calculators, smart card readers and various components which are used in telecommunication products, electronic toys and household appliances. Further information is available from Nam Tai's web site at namtai.com. Except for the historical information contained herein, matters discussed in this press release are forward-looking statements. For example, the Company's expectations regarding the strong rebound in sales and profits are forward-looking statements the results of which are uncertain and dependant upon many factors including changes in customer orders, sales mix, competitive pressures, material costs, and currency exchange rates. Other factors that might cause differences in this and other forward-looking statements include those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time, such as the factors set forth in Item 1 "Description of Business - Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 1998. SOURCE Nam Tai Electronics, Inc. -0- 06/08/99 /CONTACT: Wendy Wiseman, Investor Relations Secretary of Nam Tai Electronics, Inc., 800-661-8831/ /Web site: namtai.com -- NYTU094 -- 5387 06/08/99 17:00 EDT prnewswire.com Copyright PR Newswire 1998. All rights reserved. Thats all the news I have