Jabil Announces Sale of $300 Million of Convertible Subordinated Notes

April 26, 2001
Jabil Announces Sale of $300 Million of Convertible Subordinated Notes26 April 2001
St. Petersburg, FL

Forward - Looking Statement

Jabil Circuit, Inc. (NYSE:JBL) announced today that it intends to sell in a public offering $300 million aggregate principal amount of Convertible Subordinated Notes due 2021 ($345 million if an option for an additional $45 million is exercised in full by the underwriter). The offering is pursuant to Jabil's effective universal shelf registration statement filed with the Securities and Exchange Commission. The registration statement permits Jabil to publicly offer now and in the future up to $1.5 billion of debt and equity securities. The Convertible Subordinated Notes are being purchased by Salomon Smith Barney, who is re-offering the securities to the public.

The notes will be convertible into Jabil's common stock at the option of the holder, at a price of $41.038 per share, subject to adjustment in certain circumstances. The offering is expected to close on May 2, 2001. The specific terms of other securities that may be issued under the universal shelf registration statement will be determined at the time of each issuance.

The net proceeds of the offering will be used for general corporate purposes and may be used to partially fund acquisitions.

About Jabil

Jabil Circuit, Inc. is an electronic manufacturing services provider for international electronics companies in the communications, personal computer, peripheral, consumer and automotive markets. Jabil offers circuit design, board design from schematic, prototype assembly, volume board assembly, system assembly, repair and warranty services from facilities in North America, Europe, Asia and Latin America.

This press release contains certain forward-looking statements, which are subject to a number of risks and uncertainties. The ultimate correctness of these forward-looking statements is dependent upon a number of known and unknown risks and events, and is subject to various uncertainties and other factors that may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. For a list and description of various risks, relevant factors and uncertainties that could cause future results or events to differ materially from those expressed or implied in our forward-looking statements, see our Annual Report on Form 10-K for the fiscal year ended August 31, 2000, any subsequent Reports on Form 10-Q and Form 8-K and our other securities filings.

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