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Plexus Introduces Stock Repurchase Plan

NEENAH, Wis. — Plexus Corp. (Nasdaq: PLXS) announced today that its Board of Directors has approved a new stock repurchase program under which the Company is authorized to repurchase up to $200 million of its common stock. The Board has also authorized the Company to fund the stock repurchase program with existing cash and new long-term debt of up to $200 million. This borrowing transaction is expected to close by the end of the Company’s fiscal third quarter, subject to entry into definitive lending agreements.

“This new stock repurchase program and related financing reflects our ongoing commitment to our shareholders’ total return,” stated Ginger Jones, Senior Vice President and Chief Financial Officer. “We successfully completed a repurchase program in 2008, and we believe that conditions are again right for a potential repurchase of our shares. We believe that repurchasing Plexus stock at current market prices is an attractive use of our capital resources, with the opportunity to create significant shareholder value. We remain optimistic about achieving our long-term financial and business goals, and believe that this stock repurchase program will help support those objectives.”

The Company does not have a specific schedule or commitment for the repurchase of these shares; however, subject to market factors, the Company expects to complete the authorized repurchases by the end of calendar 2011.

{complink 4345|Plexus Corp.}

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