Sanmina-SCI calls for redemption of 4 1/4% convertible subordinated notes

Sanmina-SCI Corporation (Nasdaq: SANM) is calling for redemption on August 7, 2003, of all of its 4 1/4% Convertible Subordinated Notes due 2004 (the "Notes"). The aggregate principal amount outstanding of the Notes is approximately $263.6 million. The CUSIP number for the Notes is 800907 AB3.Prior to 5:00 p.m., Eastern Time, on August 6, 2003, holders may convert their Notes into shares of Sanmina-SCI common stock at a price of $22.167 per share, or approximately 45 shares of Sanmina-SCI common stock per $1,000 principal amount of Notes. Cash will be paid in lieu of fractional shares. On July 7, 2003, the last reported sale price of Sanmina-SCI common stock on the Nasdaq National Market was $7.330 per share.Notes not converted will be redeemed on August 7, 2003. Upon redemption, holders will receive a total of $1,019.83 per $1,000 principal amount of Notes (consisting of the redemption price of $1,008.50 per $1,000 principal amount of Notes, plus accrued and unpaid interest thereon from May 1, 2003 up to but not including August 7, 2003, of approximately $11.33). Any Notes not converted on or before 5:00 p.m., Eastern Time, on August 6, 2003, will be automatically redeemed on August 7, 2003, and no further interest will accrue.A Notice of Redemption is being mailed to all registered holders of the Notes. Copies of the Notice of Redemption may be obtained from Wells Fargo Bank Minnesota, N.A., the Conversion Agent and Paying Agent, by calling Michael Lechner at 612-316-4305. The address of Wells Fargo Bank Minnesota, N.A. is Sixth and Marquette, Minneapolis, Minnesota 55479.Source: PCBnewsline