Solectron Announces Pricing of Adjustable Conversion-Rate Equity Security Units Offering

		SOLECTRON LOGO Solectron (www.solectron.com), the world's leading supply-chain facilitator, provides a full range of manufacturing and supply-chain management services to the world's premier high-tech electronics companies. Solectron's offerings include new-product design and introduction services, materials management, high-tech product manufacturing, and product warrantyand end-of-life support. Solectron, based in Milpitas, Calif., is the first two-time winner of the Malcolm Baldrige National Quality Award for manufacturing. (PRNewsFoto)[AG JL] MILPITAS, CA USA

MILPITAS, Calif., Dec. 21 /PRNewswire/ -- Solectron Corporation (NYSE: SLR), the world's leading provider of electronics manufacturing and supply-chain services, today announced that it has priced its public offering of $1 billion, or 40 million units, of Adjustable Conversion-Rate Equity Securities, or ACES(SM), at a price of US$25 per unit with an interest rate of 7.25 percent and an 18 percent conversion premium. (Photo: http://www.newscom.com/cgi-bin/prnh/20001201/SLRLOGO ) The units consist of three-year forward-purchase contracts to purchase a variable number of shares of Solectron common stock and five-year notes. This news release is not an offer to sell or a solicitation of an offer to buy ACES, and they will not be sold in any state or jurisdiction in which an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. The offering may be made only through a prospectus, which may be obtained by contacting Goldman, Sachs & Co., Prospectus Department, 85 Broad St., New York, NY 10004. The ACES were offered under the company's shelf registration statement declared effective Aug. 29, 2001, by the Securities and Exchange Commission. The offering is expected to close on December 27, 2001. About Solectron Solectron (http://www.solectron.com) provides a full range of global manufacturing and supply-chain management services to the world's premier high-tech electronics companies. Solectron's offerings include new-product design and introduction services, materials management, high-tech product manufacturing, and product warranty and end-of-life support. The company is based in Milpitas, Calif. Safe Harbor This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve a number of risks and uncertainties. In particular, while Solectron has completed pricing of the ACES offering, there can be no assurance that the offering will be successfully completed. Other potential risks that could cause actual events to differ materially are included in filings with the Securities and Exchange Commission filings, including Forms 8-K, 10-K, 10-Q, S-3 and S-4 for Solectron Corporation. Solectron disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Analysts Contact: Thomas Alsborg, Solectron Corporation, 408-956-6614 (U.S.), or thomasalsborg@ca.slr.com. Media Contact: Kevin Whalen, Solectron Corporation, 408-956-6854 (U.S.), or kevinwhalen@ca.slr.com.