Sanmina-SCI announces proposed settlement

March 9, 2009

OWEGO San Jose, Calif.-based Sanmina-SCI Corp., which operates a printed circuit board
plant in Owego, announced it has reached a proposed settlement of
federal and state derivative litigation, filed in 2006 relating to
certain prior option grant practices.

Sanmina-SCI
would get a direct financial benefit of more than $16.5 million,
consisting of the repricing and cancellation of certain defendants'
stock options and cash
payments to the company. The settlement also would allow the company to
adopt various corporate governance measures, including enhanced stock
option granting and compliance procedures that relate to and address
many of the underlying issues in the actions.

In addition, Sanmina would pay $4 million in plaintiffs' counsel's attorney fees and expenses.

The settlement is subject to final approval at a hearing scheduled for May 1.

http://www.pressconnects.com/article/20090309/BUSINESS/903090337