Joint Announcement: Shortening Of Payment Time for The Proposed Privatization of Nam Tai Electronic & Electrical Products Limited by Nam Tai Electronics, Inc.

By Way of a Voluntary Conditional General Cash Offer, by Yu Ming Investment Management Limited on Behalf of Nam Tai Electronics, Inc.

For All Issued Shares in Nam Tai Electronic & Electrical Products Limited (Other Than Those Shares Already Owned by Nam Tai Electronics, Inc.)

HONG KONG, March 23 /PRNewswire-Asia/ --

In response to Shareholders' enquiries, NTEI has shortened the payment time to 5 days (from 10 days originally) of the later of (i) the date on which the Offer becomes, or is declared, unconditional and (ii) the date of receipt of a duly completed form of acceptance and transfer from the Accepting Shareholders.

Reference is made to the composite offer document dated 14th March, 2009 ( http://www.namtaieep.com/news/3.1.html )jointly issued by Nam Tai Electronics, Inc. (NYSE: NTE) and Nam Tai Electronic & Electrical Products Limited (HKEx: 2633) (the "Offer Document"). Unless the context states otherwise, terms used herein shall have the same meanings as those defined in the Offer Document.

NTEEP has received enquiries from Shareholders on the acceptance procedure and the timing of payment under the Offer. Some Shareholders expressed their preference to receive payment soonest.

In the interests of the Shareholders, NTEI will shorten the payment time to 5 days (from 10 days originally) of the later of (i) the date on which the Offer becomes, or is declared, unconditional and (ii) the date of receipt of a duly completed form of acceptance and transfer from the Accepting Shareholders.

Save as the above, terms and conditions of the Offer remain unchanged.

As at the date of this announcement, the non-executive director of NTEEP is Mr. KOO Ming Kown, and the independent non-executive directors of NTEEP are Mr. Thaddeus Thomas BECZAK, Mr. CHAM Yau Nam, Mr. CHAN Tit Hee, Charles, Mr. CHOI Man Chau, Michael, Mr. LEUNG Wai Hung and Mr. Roger Simon PYRKE.

The directors of NTEEP jointly and severally accept full responsibility for the accuracy of the information contained in this announcement relating to NTEEP and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement relating to NTEEP have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

The directors of NTEI jointly and severally accept full responsibility for the accuracy of information contained in this announcement (other than those relating to NTEEP) and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement (other than those relating to NTEEP) have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statement in the announcement misleading.

    By order of the board of                    By order of the board of
    NAM TAI ELECTRONICS, INC.         NAM TAI ELECTRONIC & ELECTRICAL PRODUCTS
        Koo Ming Kown                                 LIMITED
         Chairman                                   Chan Bo Shan
                                                 Company Secretary

    Hong Kong, 20th March, 2009

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

    Media Contact:

     Mr. Anthony Chan
     Tel:   +852-2263-1018
     Email: anthony@namtai.com.hk

SOURCE Nam Tai Electronics, Inc. & Nam Tai Electronic & Electrical Products