Jabil Completes Acquisition of Repair Services Operation

1 September 1999
St. Petersburg, FL

Forward - Looking Statement

Jabil Circuit, Inc. (NYSE: JBL) today announced it has completed the purchase of EFTC Services, Inc., an electronic product service and repair business. Jabil Global Services will continue to offer repair and warranty services for existing and future customers from its hub-based operations in Memphis, Tennessee; Louisville, Kentucky; and Tampa, Florida. The purchase price of approximately $30 million was paid in cash. Other financial terms of the proposed transaction were not disclosed.

"The ability to seamlessly service our OEM partners product following completion of the traditional manufacturing and fulfillment process is an exciting new service and rounds out our virtual manufacturing model," said Timothy L. Main, president, Jabil Circuit, Inc.

All EFTC Services employees as well as key management have been retained, including Allen Braswell, who will serve as President of Jabil Global Services.

"The natural synergy between Jabil's current customers and the existing repair and services business customers is strong. We intend to capitalize on Jabil's proven operational strengths and worldwide facilities in expanding and growing this business," said Allen Braswell, President, Jabil Global Services.

About Jabil

Jabil Circuit, Inc. is an electronic manufacturer of circuit board assemblies and systems for communications, personal computers, peripherals, automotive and consumer products. Jabil offers circuit design, board design from schematic, prototype assembly, volume board assembly and system assembly services from automated manufacturing facilities in four U.S locations, Europe, Asia and Mexico. Information about Jabil can be found on the World Wide Web at http://www.jabil.com.

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.