Jabil Registration Statement Declared Effective

5 March 1999
St. Petersburg, Florida

Forward - Looking Statement

Jabil Circuit, Inc. (NYSE: JBL) announced that its 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) was declared effective yesterday under the Securities Act of 1933. Six million shares were offered by the Company and 4,500,000 were offered by certain stockholders of the Company.

The shares were offered by Merrill Lynch & Co., Donaldson, Lufkin & Jenrette, Solomon Smith Barney, C.E. Unterberg, Towbin and Thomas Weisel Partners LLC at $30.00 per share.

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 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 11 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.