Jabil Circuit, Inc. (NYSE:JBL) announced today the closing of its offering of $312.0 million 7.75% senior unsecured notes due 2016 (the "Offering"). The Offering resulted in net proceeds to the Company, after deducting underwriting discounts and estimated expenses, of approximately $293.0 million.

Jabil also announced today that it has accepted for purchase $294.9 million aggregate principal amount of its 5.875% Senior Notes due 2010 (the "5.875% Notes"), or 98.3% of the total outstanding, which were validly tendered prior to the early tender deadline of 5:00 p.m., New York City time, on August 10, 2009 (the "Early Tender Deadline"), pursuant to Jabil's previously announced cash tender offer (the "Tender Offer"). Jabil's total obligations for the Tender Offer equal $305.4 million (the "Total Consideration"), and consist of: (i) $294.9 million of base consideration for the aggregate principal amount of the 5.875% Notes tendered pursuant to the Tender Offer; (ii) $1.3 million of accrued and unpaid interest on the tendered 5.875% Notes; and (iii) $9.2 million of early tender premium. Jabil used all of the Offering's net proceeds, together with cash on hand, to pay the Total Consideration.

As previously announced, the Tender Offer will expire at 12:00 midnight, New York City time, on August 24, 2009, unless extended or earlier terminated. Also as previously announced, those who tender their 5.875% Notes prior to the expiration of the Tender Offer will receive any accrued and unpaid interest on the 5.875% Notes up to, but not including, the payment date, but only those who tendered their 5.875% Notes prior to the Early Tender Deadline received an early tender premium of $31.25 per $1,000 principal amount of the 5.875% Notes.

J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and RBS Securities Inc. acted as joint book-running managers for the Offering.

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell with respect to any securities. The Tender Offer is only being made pursuant to the terms of the Offer to Purchase and the related Letter of Transmittal, each dated as of July 28, 2009. The Tender Offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.