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DIRECTORS EXERCISE OPTIONS IN DESWELL INDUSTRIES, INC. HONG KONG (March 5, 2001) - Deswell Industries, Inc. (Nasdaq Symbol: DSWL) ("the Company') today announced that its directors and senior executives, Richard Lau, C.P. Li and C.W. Leung exercised options totaling 240,000 Common Shares of the Company on February 24, 2001. Proceeds to Deswell totaled $2.6 million, which will be used for working capital and general corporate purposes. The directors have advised the Company that they anticipate exercising an additional 180,000 options on or before June 2001. On September 26, 2000, Nam Tai Electronics (Nasdaq Symbol: NTAI) purchased 500,000 Common Shares of Deswell from Lau, Li and Leung. The directors indicated at that time their intention to utilize proceeds from the transaction to exercise outstanding options to purchase 420,000 shares of Deswell's common stock. Deswell manufactures injection-molded plastic parts and components, electronic products and subassemblies, and metallic products for original equipment manufacturers ("OEMs") and contract manufacturers at its factories in the People's Republic of China. The Company produces a wide variety of plastic parts and components used in the manufacture of consumer and industrial products; printed circuit board assemblies using surface mount ("SMT"), and pin-through hole ("PHT") interconnection technologies; and finished products such as telephones, telephone answering machines, sophisticated studio-quality audio equipment and computer peripherals. The Company's customers include Kyocera Mita Industrial Co. (H.K.) Limited, Epson Precision (H.K.) Ltd., Namtai Electronics (Shenzhen) Co. Ltd., Inter-Tel Incorporated, Vtech Communications Ltd., Peavey Electronics Corporation and Emerson. Contact: |
