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Technology Stocks : Nam Tai Elec. (NTAI) -- Ignore unavailable to you. Want to Upgrade?

To: M. Merriam who wrote (1570)	4/8/1999 9:03:00 AM
From: lindalib	Read Replies (2) \| Respond to of 1696

[B] FULL: Nam Tai Elec boosts buyback program to 3 mln shrs from 2 mln By Bridge News New York--Apr 8--Nam Tai Electronics Inc.'s board authorized an increase in the company's share repurchase program to three million shares from two million shares. The program was extended to Dec. 31. * * * The following is the text of today's announcement with emphasis added by Bridge News. BridgeStation links to company data have been inserted at the end: NAM TAI ELECTRONICS, INC. ("NAM TAI" OR THE "COMPANY") (NASDAQ: NTAI; NTAIW) TODAY ANNOUNCED THAT ITS BOARD OF DIRECTORS HAS INCREASED THE MAXIMUM NUMBER OF COMMON SHARES THAT MAY BE REPURCHASED UNDER THE COMPANY'S REPURCHASE PROGRAM FROM 2,000,000 TO 3,000,000 COMMON SHARES. IN ADDITION, THE SHARE REPURCHASE PROGRAM IS EXTENDED TO DECEMBER 31, 1999. On January 13, 1998 Nam Tai announced the Board of Directors had approved a share repurchase program to buy-back up to an aggregate of 1,000,000 common shares of the Company in the open market, from time to time, at prevailing market prices. On July 2, 1998, the Company increased the maximum number to 2,000,000 common shares. On January 7, 1999, the Company announced the extension of the repurchase program for an additional six months. Today's announcement is an extension of the previous announcements. To date, the Company has repurchased 1,831,200 common shares. The share repurchase program is expected to continue until December 31 1999, in accordance with SEC Rule 10b-18, u nless extended or shortened by the Board of Directors. "The Company's share repurchase program is being increased and extended because the Board of Directors do not believe the current market price of the common shares reflects the long-term potential of the Company" commented Tadao Murakami, Chairman of the Company. 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 PC's, personal organizers, personal digital assistants, linguistic products, calculators, smart card readers and various components which are used in telecommunication products, electronic toys, and household products. Further information is available from Nam Tai's web site at namtai.com. SOURCE Nam Tai Electronics, Inc. /CONTACT: Mark Waslen of Nam Tai Electronics, Inc., 604-669-7800, or fax,604-669-7816, or 800-661-8831, investor@namtai.com/ /Web site: namtai.com End For charts and historical stories on this company, double-click the following (BridgeStation and Telerate only): First Call Consensus Earnings Estimate Media://Analytics/Pages:NTAI-Earnings-Estimate:/cmd=US;NTAI/CF/EST 60-day Price History Media://Analytics/Pages:NTAI-Price-History:/cmd=US;NTAI[1099ID;60;20]/NVO Two-day intraday price chart Media://Analytics/Pages:NTAI-intraday:/cmd=US;NTAI[7334ID2] Trailing 12 months Earnings per Share Media://Analytics/Pages:NTAI-EPS:/cmd=US;NTAI[1584EPS] News stories on this company from Bridge News Media://NewsSearch::/Source=[B]/Symbol=US;NTAI/go/newest/Search News stories from all vendors Media://NewsSearch::/Symbol=US;NTAI/go/Search Bridge News, Tel: (212) 372-7571 Send comments to Internet address: equity@bridge.com [symbols:US;NTAI] Apr-08-1999 06:22 GMT Symbols: US;NTAI Source [B] BridgeNews Global Markets Categories: R/US S/BBK CAP/STOCKS CAP/INDEX MR/NEWS