Johnson Electric Acquires Remaining 51% of Nihon Mini Motor for US$14.2m

HONG KONG, April 26, 2004; Johnson Electric Holdings Limited has agreed to acquire the remaining 51% of Nihon Mini Motor from a group of 24 shareholders, consisting of individuals, employees and corporations, for US$14.2 million.

In April 2003, Johnson Electric acquired 49% equity of Nihon Mini Motor from Mitsubishi Materials. After a year of successful integration, Nihon Mini Motor has developed several new products and acquired new customers.

Jim Dick, Senior Vice President Strategic Marketing at Johnson Electric, said, "This move is timely as Nihon Mini Motor has strengthened its position as the number one motor supplier to the digital camera market. Johnson Electric has supported this growth by leveraging its worldwide sales channels and competitive cost structure."

With the acquisition, Johnson Electric also introduces the "Johnson Nihon Mini" product brand for all Nihon Mini camera motor products. More information on this brand can be found in the Johnson Electric website, http://www.johnsonelectric.com/

The Johnson Electric Group is the motor industry's growth leader, providing micro motors and integrated motor systems to global customers in the automotive, power tools, home appliances, business equipment, audio-visual and personal care sectors. The group employs over 30,000 people in 14 countries, with the majority of the workforce engaged in production activities in China. Design engineering centers are located in Hong Kong, Italy, China, Japan and the USA. Johnson Electric Holdings Limited is listed on the Hong Kong Stock Exchange (code 179) and is a constituent of the Hang Seng Index.

  For more information, please contact:
  CT Hew
  Golin/Harris Forrest
  Hong Kong
  Tel: +852 2501-7963
  Fax: +852 2866-0090
  Email: ct.hew@golinharris.com