(All amounts in U.S. dollars) TORONTO, March 26 /PRNewswire-FirstCall/ -- Celestica Inc. ("Celestica") (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced the expiration of its previously announced modified "Dutch Auction" tender offer (the "Offer") for a portion of its outstanding 7.875% Senior Subordinated Notes due 2011 (the "Notes") and released information regarding final results of the Offer. The Offer expired today at 5:00 p.m., New York City time with valid tenders (that were not validly withdrawn) by holders of $419.7 million in aggregate principal amount of Notes in connection with the Offer. Celestica accepted for purchase $150,000,000 in aggregate principal amount of Notes, which is an amount equal to the Tender Cap (as defined in the Offer to Purchase). Because the Offer was oversubscribed, Celestica accepted all Notes tendered below the Clearing Price (as defined in the Offer to Purchase) and accepted Notes tendered at the Clearing Price on a pro rata basis, as provided in the Offer to Purchase with a proration factor of 61.89%. Holders, whose Notes have been accepted for purchase and who tendered such Notes at, or before, the Early Tender Date of 5:00 p.m., New York City Time, on March 11, 2009, will receive $1,000 per $1,000 principal amount of the Notes that Celestica accepts for purchase, which includes the Early Tender Premium of $20 per $1,000 principal amount. Holders, whose Notes have been accepted for purchase and who tendered such Notes after the Early Tender Date but at, or before, the expiration of the Offer, will receive $980 per $1,000 principal amount of the Notes that Celestica accepts for purchase. Holders of Notes accepted for purchase will also be paid any accrued and unpaid interest on such Notes calculated up to, but excluding, the date of payment (the "Settlement Date"). The Settlement Date for the Offer is expected to be March 27, 2009. All Notes purchased in the Offer will be retired. All Notes tendered but not accepted for purchase, including Notes not accepted for purchase because of proration, will be returned promptly to the holders of such Notes at the expense of Celestica and will remain outstanding. Banc of America Securities LLC, Global Debt Advisory Services, was the Dealer Manager for the Offer. Global Bondholder Services Corporation was the depositary and information agent. Questions regarding the Offer may be directed to Banc of America Securities LLC at 888-292-0070 (U.S. toll-free) and 704-388-9217 (collect). Copies of the Offer to Purchase and Letter of Transmittal may be obtained from Global Bondholder Services Corporation at 866-389-1500 (U.S. toll-free) and 212-430-3774 (collect). This press release is for informational purposes only. This announcement does not constitute an offer to purchase or a solicitation of any offer to sell the Notes or any other securities. The Offer is being made solely by the Offer to Purchase, dated February 26, 2009, and the related Letter of Transmittal. The Offer does not constitute an offer to purchase Notes in any jurisdiction in which it is unlawful to make such offer under applicable securities or blue sky laws. In any jurisdiction in which the securities laws or blue sky laws require the Offer to be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Celestica, as the case may be, by the Dealer Manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. About Celestica --------------- Celestica is dedicated to delivering end-to-end product lifecycle solutions to drive our customers' success. Through our simplified global operations network and information technology platform, we are solid partners who deliver informed, flexible solutions that enable our customers to succeed in the markets they serve. Committed to providing a truly differentiated customer experience, our agile and adaptive employees share a proud history of demonstrated expertise and creativity that provides our customers with the ability to overcome any challenge. Safe Harbour and Fair Disclosure Statement ------------------------------------------ Statements contained in this press release which are not historical facts are forward-looking statements. Such forward-looking statements are predictive in nature, and may be based on current expectations, forecasts or assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially from the forward-looking statements themselves. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions, or may employ such future or conditional verbs as "may", "will", "should," or "would," or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities legislation. Forward looking statements are not guarantees of future performance. Risks and uncertainties, as well as other information related to Celestica, are discussed in Celestica's various public filings at http://www.sedar.com/ and http://www.sec.gov/, including our Annual Report on Form 20-F and subsequent reports on Form 6-K filed with the Securities and Exchange Commission and our Annual Information Form filed with the Canadian Securities Commissions. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. DATASOURCE: Celestica Inc. CONTACT: Laurie Flanagan, Celestica Global Communications, (416) 448-2200, ; Paul Carpino, Celestica, Investor Relations, (416) 448-2211,

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