SANM Sanmina Corporation

SAN JOSE, Calif., Feb. 14 /PRNewswire-FirstCall/ -- Sanmina-SCI Corporation (NASDAQ:SANM) (the "Company") announced today the pricing terms of its previously announced tender offer and consent solicitation (the "Offer") for its 10.375% Senior Secured Notes due 2010 (CUSIP Nos. 800907AF4 and 800907AE7) (the "Notes") pursuant to the Offer to Purchase and Consent Solicitation Statement dated January 31, 2006 (the "Offer to Purchase"). In addition, the Company announced today that as of 5:00 p.m., New York City time, on February 13, 2006 (the "Consent Payment Deadline"), which was the deadline for holders to tender their Notes in order to receive the consent payment in connection with the Offer, it had received tenders and consents from holders of approximately $721.5 million in aggregate principal amount of the Notes, representing approximately 96.2% of the outstanding Notes. The total consideration for each $1,000 principal amount of Notes validly tendered and not withdrawn prior to the Consent Payment Deadline is $1,094.52, which includes a consent payment of $30.00 per $1,000 principal amount of Notes. The total consideration was determined by reference to a fixed spread of 50 basis points over the yield of the 3% U.S. Treasury Note due December 31, 2006, which was calculated at 2:00 p.m., New York City time, on February 13, 2006. The reference yield and tender offer yield are 4.765% and 5.265%, respectively. Holders whose Notes are validly tendered and not withdrawn on or before the Consent Payment Deadline and are accepted for purchase by the Company will receive accrued and unpaid interest on the Notes up to, but not including, the initial payment date for the Offer, which is expected to be on February 15, 2006. Holders whose Notes are validly tendered after the Consent Payment Deadline, but on or prior to 5:00 p.m., New York City time, on February 28, 2006 (the "Expiration Date") and accepted for purchase by the Company will receive the tender offer consideration of $1,064.52 per $1,000 principal amount of Notes tendered, but will not receive the consent payment, and will receive accrued and unpaid interest on the Notes up to, but not including, the final payment date for the Offer, which is expected to be on or about March 1, 2006. The supplemental indenture effecting the proposed amendments to the indenture governing the Notes will be executed on February 14, 2006. Adoption of the proposed amendments required the consent of holders of at least a majority of the aggregate principal amount of the outstanding Notes. The proposed amendments, however, will become operative only when the validly tendered Notes are accepted for purchase by the Company pursuant to the terms of the Offer. In accordance with the terms of the Offer, tendered Notes may no longer be withdrawn and delivered consents may not be revoked, unless the Company makes a material change to the terms of the Offer or is otherwise required by law to permit withdrawal or revocation. The Offer remains open and is scheduled to expire on the Expiration Date, unless extended or earlier terminated. The tender offer and consent solicitation are subject to the satisfaction of certain conditions, including the receipt of sufficient financing to consummate the tender offer and consent solicitation on terms satisfactory to the Company and certain other customary conditions. The complete terms and conditions of the tender offer and consent solicitation are described in the Offer to Purchase, copies of which may be obtained by contacting D. F. King and Co., Inc., the depositary and information agent for the Offer, at 212-269-5550 (collect) or 800-659-5550 (U.S. toll-free). The Company has engaged Banc of America Securities LLC to act as the exclusive dealer manager and solicitation agent in connection with the Offer. Questions regarding the Offer may be directed to Banc of America Securities LLC, High Yield Special Products, at 888-292-0070 (US toll-free) and 704-388-9217 (collect). This press release does not constitute an offer to sell or a solicitation of an offer to buy any Securities, nor shall there be any sale of any Securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This announcement is also not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any securities. The tender offer and consent solicitation are being made solely by the Offer to Purchase and Consent Solicitation Statement dated January 31, 2006. SANMF FCMN Contact: paige.bombino@sanmina-sci.com DATASOURCE: Sanmina-SCI Corporation CONTACT: Paige Bombino, Investor Relations of Sanmina-SCI, +1-408-964-3610 Web site: http://www.sanmina-sci.com/

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