Jabil Circuit, Inc. (NYSE:JBL), announced today the commencement of a cash tender offer for any and all of its outstanding 5.875% Senior Notes due 2010 (the "Notes"). There is currently $300.0 million aggregate principal amount of the 2010 Notes outstanding. The tender offer (the "Offer") is being made pursuant to an Offer to Purchase and a related Letter of Transmittal, each dated as of July 28, 2009. The Offer will expire at 12:00 midnight, New York City time, on August 24, 2009, unless extended or earlier terminated (the "Expiration Time").

Holders who validly tender (and do not withdraw) their Notes on or prior to the early tender deadline of 5:00 p.m., New York City time, on August 10, 2009, unless extended (the "Early Tender Deadline"), and whose Notes are accepted for payment, will receive the total consideration equal to $1,031.25 per $1,000 principal amount of the Notes (the "Total Consideration"), plus any accrued and unpaid interest on the Notes up to, but not including, the payment date. The Total Consideration includes an early tender premium of $31.25 per $1,000 principal amount of the Notes.

Holders who validly tender (and do not withdraw) their Notes after the Early Tender Date, but on or prior to the Expiration Time, and whose Notes are accepted for payment, will receive the base consideration equal to $1,000.00 per $1,000 principal amount of the Notes (the "Base Consideration"), plus any accrued and unpaid interest on the Notes up to, but not including, the payment date. Holders of Notes who tender after the Early Tender Deadline will not receive an early tender premium.

Holders who tender Notes on or prior to the Early Tender Deadline may withdraw such Notes at any time on or prior to the Early Tender Deadline. Holders who tender Notes after the Early Tender Deadline, but on or prior to the Expiration Time, may withdraw such Notes at any time on or prior to the Expiration Time.

The Offer is subject to customary conditions, including, among other things, a financing condition.

Provided that the conditions to the Offer have been satisfied or waived, Jabil will pay for Notes purchased in the Offer, together with accrued interest, on either the initial payment date or the final payment date, as applicable.