TA-I Technology, King Core Electronics decide on 2002 dividends

Taipei, May 29, 2003 (CENS)--TA-I Technology Co., Ltd. And King Core Electronics Inc., two local manufacturers of electric passive devices, will distribute a dividend per share of NT$1.5 and that of NT$2.0, respectively, for their operation in 2002.

Listed on the Taiwan Stock Exchange, TA-I Technology produces resistors of several kinds. King Core Electronics is listed on the local over-the-counter bourse and specializes in production of inductors. The two companies had the respective dividend distribution passed by shareholders at the meetings for this year on May 27.

TA-I Technology's dividend per share for last year's operation consists of NT$1.0 in stock and NT$0.5 in cash.

TA-I Technology's main product is chip resistors of 0603 specification currently. As more and more manufacturers of cellular phones, digital still cameras, and notebook PCs replace 0603 chip resistors with 0402 model, the company will expand its monthly production capacity of the latter at its factory in mainland China from 6 billion resistors at present to 8 billion units at the end of this year and further to 10 billion units next year.

King Core Electronics will deal out a stock dividend of NT$1.5 and a cash dividend of NT$0.5 per share. The shareholders also authorized the company's board of directors to float secured convertible bonds for the first time and unsecured convertible bonds for the second time as well as passed additional investment of US$1 million in the company's subsidiary manufacturer in Suzhou of Jiangsu Province, mainland China. The additional investment will increase the subsidiary's capital to US$3.25 million.

King Core Electronics projects pretax profit of NT$150 million and earnings per share of NT$4.03 based on the current capital of NT$372 million for this year.