Fabrinet to Acquire JDS Uniphase Operations in Fuzhou, China

    Business Editors/High-Tech Writers

    SAN FRANCISCO--(BUSINESS WIRE)--April 27, 2005--Fabrinet, an engineering and electromechanical manufacturing services company, announced its intention to purchase the JDS Uniphase (NASDAQ:JDSU) (TSX:JDU) manufacturing facilities located in Fuzhou, China. Under the terms of the arrangement, Fabrinet will acquire all assets and operations related to the Fuzhou plant including R&D and the manufacture of products such as crystals and precision optics. Subject to final documentation and customary closing conditions, the transfer to Fabrinet is expected to be completed prior to June 30, 2005. Terms of the agreement were not revealed.
    The 225,000 square foot Fuzhou plant employs over 500 engineers, technicians, and skilled operators, all of whom are expected to transfer to Fabrinet and continue their employment at the site. Fabrinet intends to utilize the existing core management and technical expertise at the site to grow its optical component business in China and in other regions the company serves.
    Fabrinet has been providing manufacturing services to JDS Uniphase since 2000. In December 2004, the company acquired JDS Uniphase manufacturing facilities in Singapore and Bintan, Indonesia. Earlier this month, JDS Uniphase announced its intent to divest manufacturing facilities in Ewing and Mountain Lakes, New Jersey to Fabrinet as part of broader cost-savings initiatives.
    "Transferring ownership of our facility and operations in Fuzhou, China, to our contract manufacturing partner, Fabrinet, is part of our ongoing strategy to decrease cost structure for profitability while streamlining our portfolio along strategic core product lines to increase our corporate agility," said Minoo Zohouri, VP of global materials for JDS Uniphase.
    "It is a natural evolution for Fabrinet to acquire the JDS Uniphase operation in Fuzhou," commented Tom Mitchell, founder and CEO of Fabrinet. "We have been manufacturing precision optical components since our inception and have had a long, successful relationship with JDS Uniphase. Expanding our Asian operations to China, and growing our optical component manufacturing operations in that market, will enable Fabrinet to provide greater flexibility and support to our existing customers and additional resources to attract new customers."

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include any anticipations or expectations as to the likelihood or timing of completion of the transactions described in this release. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the risk that the parties may not finalize transaction documentation or perform all actions, or satisfy all conditions, necessary to complete the transactions described in this release.

    About JDS Uniphase

    JDS Uniphase Corporation (NASDAQ:JDSU)(TSX:JDU) designs and manufactures products for markets where its core optics technologies provide innovative solutions for communications, commercial and consumer applications. The Company offers components, modules and subsystems for data communications, telecommunications and cable television, display, security, medical/environmental instrumentation, decorative, aerospace and defense applications. More information is available at www.jdsu.com.

    About Fabrinet

    Fabrinet is a manufacturing services company (EMS) specializing in the engineering and manufacture of complex optical, mechanical, and electronic components, modules, and subassemblies for a wide range of industries including communications, automotive & aeronautics, consumer electronics, and industrial sensing. Fabrinet utilizes manufacturing best practices to provide rigorous IP protection, a real-time internet tracking and information system, class 100 cleanrooms, and unmatched customer responsiveness. The company has received numerous quality and best supplier awards and has been named one of the Best Employers in Thailand for 2003 and 2005 by Hewitt Associates/Sasin Graduate Institute of Business Administration/The Nation newspaper and has been nominated for the TCCC 9th Annual Business Excellence Award in the category of Best Manufacturer. Fabrinet is ISO 9001:2000, 14001, and ISO/TS 16949:2002 certified. The company is based in Bangkok, Thailand with over 350,000 square feet of manufacturing and 3,600 employees, and maintains sales offices in the United States and Europe. For more information contact Mark Schwartz at 925-934-2048, mschwartz@fabrinet.com, or visit the website at www.fabrinet.com.

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CONTACT: Fabrinet (USA) Mark Schwartz, 925-934-2048 Fax: 815-333-3648 schwartz@fabrinet.th.com or Fabrinet Co., Ltd. Teera Achariyapaopan, Ph.D, 662-998-9956 Fax: 662-998-9957 teeraa@fabrinet.th.com or Fabrinet Europe Siriwan Kaewchansilp, +34 (93) 414 6852 Fax: +34 (93) 414 7121 siriwank@fabrinet.com or A R Marketing, Inc. Andrea Roberts, 858-451-8666 aroberts@san.rr.com

KEYWORD: CALIFORNIA CHINA INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: HARDWARE AUTOMOTIVE AEROSPACE/DEFENSE TELECOMMUNICATIONS MANUFACTURING MERGERS/ACQ SOURCE: Fabrinet

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