Jabil to Offer Securities

22 January 1999
St. Petersburg, FL

Forward - Looking Statement

Jabil Circuit, Inc. (NYSE: JBL) announced today that it intends to file a registration statement with the U.S. Securities and Exchange Commission relating to an offering of shares of its common stock. The offering is currently expected to occur in the first calendar quarter of 1999. It is anticipated that the size of the offering will be approximately $375 million, of which approximately 60 percent will be sold by the Company and the remainder will be sold by certain selling stockholders.

The proceeds of the offering will be used for repayment of debt under the Company's credit facility, capital expenditures and for general corporate purposes, including working capital and possible acquisitions. There can be no assurance that the public offering will ultimately occur, or, if effected, will be successful.

The offering will be made only by means of a prospectus.

About Jabil

Jabil Circuit, Inc. is an electronic manufacturer of circuit board assemblies and systems for international original equipment manufacturers in the communications, personal computer, peripheral, consumer and automotive markets. Jabil offers product design, board design, mechanical and production design, prototype assembly, volume board assembly, system assembly and direct fulfillment services from eight manufacturing facilities in North America, Europe and Asia.

This release contains certain forward-looking statements, which are subject to a number of risks and uncertainties. Some factors that could cause actual results to differ materially include: business conditions and growth in the contract manufacturing industry and the general economy; variability of operating results; dependence on a limited number of customers; limited availability of components; dependence on certain industries; variability of customer requirements; and other risk factors described in the company's most recently filed SEC documents such as the Form 10-K, filed 12/7/98.