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Jabil Files Offering

29 November 1999
St. Petersburg, Florida

Forward - Looking Statement

Jabil Circuit, Inc. (NYSE: JBL) announced today that it has filed a Registration Statement with the U.S. Securities and Exchange Commission with respect to a proposed underwritten public offering of 10,500,000 shares of its Common Stock (plus up to an additional 1,575,000 shares that may be issued to cover any over-allotments). Six million of the shares will be offered by the Company and 4,500,000 will be offered by certain stockholders of the Company. All of these share numbers have been adjusted for a two-for-one stock split of the Company's stock to be reflected on the New York Stock Exchange on February 18, 1999.

The offering will be led by Merrill Lynch & Co. and co-managed by Donaldson, Lufkin & Jenrette, Salomon Smith Barney, C.E. Unterberg, Towbin, and Thomas Weisel Partners LLC.

The net proceeds of the offering of shares sold by the Company 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. The Company will not receive any proceeds from the sale of shares by the selling shareholders.

About Jabil

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

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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 registration statement referenced herein and the Company's Form 10-K, filed with the Securities and Exchange Commission on December 7, 1998.