Flextronics Announces Redemption and Change of Control Repurchase Offer for Solectron 8.00% Senior Subordinated Notes and Planned Change of Control Repurchase Offer for Solectron's 0.50% Senior Convert...( SINGAPORE Oct. 3 /- Flextronics I...),Health

SINGAPORE, Oct. 3 /PRNewswire-FirstCall/ -- Flextronics International Ltd. (Nasdaq: FLEX) today announced that, in connection with Flextronics's previously-announced acquisition of Solectron Corporation on October 1, 2007, Solectron Global Finance Ltd. notified holders of its outstanding 8.00% Senior Subordinated Notes due 2016 ("8% Notes") that it is exercising its right to redeem the 8% Notes prior to maturity pursuant to the optional redemption procedures provided for under the indenture governing the 8% Notes. The 8% Notes will be redeemed at 100% of the principal amount of the 8% Notes, plus (i) accrued and unpaid interest to, but not including, the date of redemption, and (ii) the make-whole premium provided for under the indenture. The redemption date will be October 31, 2007. Separately, Solectron Global Finance Ltd. has notified holders of the 8% Notes that it will repurchase any 8% Notes delivered for repurchase pursuant to a change of control offer to repurchase at a price of 101% of their aggregate principal amount, plus accrued and unpaid interest to the date of repurchase. Solectron Global Finance Ltd. will repurchase all 8% Notes tendered pursuant to this offer on October 31, 2007. Any 8% Notes that are not repurchased pursuant to the repurchase offer will be redeemed on October 31, 2007.

U.S. Bank National Association is acting as the paying agent for the repurchase offer for the 8% Notes and the redemption agent for the redemption.

As a result of Flextronics's acquisition of Solectron, Flextronics intends to deliver notice on October 31, 2007 of a change in control purchase offer for all of Solectron's outstanding 0.50% Convertible Senior Notes due 2034 (the "Original Notes") and Solectron
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