Nam Tai's Offer to Privatize NTEEP Successful

HONG KONG, July 7 /PRNewswire-FirstCall/ -- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTE) today announced that as of 4:00 pm Hong Kong time on July 6, 2009, the Company had received valid acceptances in respect of 200,567,867 shares of Nam Tai Electronic & Electrical Products Limited ("NTEEP") held by NTEEP's minority shareholders, representing approximately 90.57% of the public float shares of NTEEP. As Nam Tai's offer and the resulting privatization of NTEEP were conditional upon Nam Tai receiving acceptances totalling at least 90% of the public float shares of NTEEP, Nam Tai is pleased to announce that its offer has become unconditional in all respects. Pursuant to the securities laws of Hong Kong, Nam Tai's offer to NTEEP's minority shareholders will remain open for acceptance until July 22, 2009.

After receiving any remaining NTEEP shares yet to be tendered by NTEEP's minority shareholders through July 22, 2009, Nam Tai intends to exercise compulsory acquisition rights to acquire any remaining NTEEP shares that it did not acquire in accordance with its offer and then withdraw the listing of NTEEP from the Stock Exchange of Hong Kong.

For more information regarding this matter, please access the Joint Announcement of Nam Tai and NTEEP, which was published in Hong Kong on June 6, 2009 and is available from the website of NTEEP at www.namtaieep.com.

ABOUT NAM TAI ELECTRONICS, INC.

We are an electronics manufacturing and design services provider to a select group of the world's leading OEMs of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, RF modules, DAB modules, FPC subassemblies and image sensors modules and PCBAs for headsets containing Bluetooth* wireless technology. These components are used in numerous electronic products, including mobile phones, laptop computers, digital cameras, electronic toys, handheld video game devices, and entertainment devices. We also manufacture finished products, including mobile phone accessories, home entertainment products and educational products. We assist our OEM customers in the design and development of their products and furnish full turnkey manufacturing services that utilize advanced manufacturing processes and production technologies.

* The Bluetooth(R) word mark and logos are owned by the Bluetooth SIG, Inc. and any use of such marks by Nam Tai is under license.

SOURCE Nam Tai Electronics, Inc.