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                      JABIL CIRCUIT COMPLETES ACQUISITION

                     OF HEWLETT-PACKARD LASERJET FORMATTER

                            MANUFACTURING OPERATIONS

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 12/1/97.

St. Petersburg, FL - August 4, 1998-- Jabil Circuit, Inc. (NYSE: JBL) has
completed the purchase of the manufacturing assets of the Hewlett-Packard
(NYSE: HWP) LaserJet Solutions Group Formatter Manufacturing Organization
(FMO). The acquisition of the FMO includes all of the printed circuit assembly
assets located in Boise, Idaho and Bergamo, Italy. Jabil originally announced
its intent to purchase the FMO assets on May 11, 1998. Financial terms of the
transaction were not disclosed.

The newly acquired Jabil facilities will produce the printed circuit board
assemblies for all laser printers sold by HP. Jabil will lease the HP
facilities where FMO operations were previously conducted until Jabil
constructs new facilities in both Boise and Bergamo.

The Boise operation consists of seven newly equipped surface mount technology
manufacturing lines supporting leading edge interconnect processes. In
addition, Jabil has hired 400 former HP manufacturing employees. The Jabil
operation will be managed by Randy Della, who previously served as production
manager at the HP operation in Boise.

In Bergamo, the new Jabil operation consists of four newly equipped surface
mount technology manufacturing lines and 200 former HP employees. The Jabil
operation will be managed by Carlo Scocco, formerly factory technical support
manager at the HP Bergamo operation.

"The acquisition of Hewlett-Packard's Formatter Manufacturing Organization is a
significant step forward for Jabil," commented Scott D. Brown, Jabil's vice
president, Corporate Development. "Through this acquisition, we add a group of
talented and experienced manufacturing employees to our existing resources, and
strengthen our association with Hewlett-Packard, the unquestioned leader in the
laser printer industry."

"As we have worked with Jabil on the acquisition of the Formatter Manufacturing
Organization, we have gained great confidence they are the right strategic
supplier for the LaserJet Solutions Group," said Hatem Mostafa, HP's general
manager, Department Color LaserJet Operations. "We are also pleased with
Jabil's aggressive approach to closing this acquisition and are delighted to
close this transaction in just 10 weeks. Jabil's solid understanding of
manufacturing and the transition process will allow us uninterrupted product
flow. In addition, we were able to gain significant comfort by the enthusiasm
the current Formatter Manufacturing Organization management team exhibited in
assuming the key role in Jabil's transition plan."

Jabil Circuit, Inc. (http://www.jabil.com) is an electronic manufacturer of
circuit board assemblies and systems for products in the communication,
personal computer, peripheral, automotive and 



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consumer industries. Jabil offers a range of manufacturing services, including
circuit design, board design from schematic, prototype assembly, volume board
assembly and system assembly services.

Jabil has approximately 5,000 employees in eight worldwide high-volume
manufacturing locations. Revenues for the fiscal year ended August 31, 1997
were $978 million.

CONTACT: Beth Walters, (813) 577-9749 or beth_walters @ jabil.com