IPC RELEASES BOOK-TO-BILL RATIO AND PCB BUSINESS REPORT FOR MAY 2002

NORTHBROOK, Ill., June 25, 2002--IPC—Association Connecting Electronics Industries® announced today the findings from its monthly Statistical Program.

Book-to-Bill Ratio

The U.S. Printed Circuit Board (PCB) Industry Book-to-Bill Ratio for May 2002 was 0.96. Sales billed (shipments) in May 2002 decreased 27.7% from May 2001 and orders booked decreased 14.1% from May 2001.

Compared to 2001, bookings of PCBs are down 25.0% year-to-date, while shipments of PCBs are down 35.9% year-to-date.

The ratio is calculated by averaging the number of orders booked over the past three months and dividing by the average sales billed during the same period.

PCB Business Report

The PCB Business Report, an IPC statistical report that tracks the dynamics of the U.S. PCB industry, reported the PCB shipment index was 125.8 and the PCB booking index was 121.2 for May 2002.

The IPC PCB shipment index in May 2002 decreased 4.6% from 131.9 in April 2002, and the IPC PCB booking index in May 2002 decreased 2.0% from 123.7 in April 2002.

The index shows how current PCB shipments and bookings relate to an index point. (In this case, 1992 was chosen as the index point because it was a stable growth year for U.S. PCB manufacturers.) A shipment index number of 117.0 indicates that shipments are 17% higher than average shipments for the same time period in 1992.

The indices are calculated by setting the base year (1992) equal to 100 and then multiplying the monthly growth rates of the actual shipments and bookings by the corresponding index number.

The information in IPC’s monthly industry statistics is based on data provided by both rigid and flexible PCB manufacturers that participate in IPC’s monthly Statistical Program. These companies represent 60% of the U.S. domestic printed circuit board market. IPC publishes the Book-to-Bill Ratio and the PCB Business Report each month. (Statistics for the previous month are not available until the last week of the following month.)

For more information, contact IPC Market Research Manager John Hassman at JohnHassman@ipc.org or 847-597-2820.

About IPC

IPC is a U.S.-based trade association dedicated to the competitive excellence and financial success of its more than 2,600 member companies which represent all facets of the electronic interconnection industry, including design, printed wiring board manufacturing and electronics assembly. As a member-driven organization and leading source for industry standards, training, market research and public policy advocacy, IPC supports programs to meet the needs of a $44 billion U.S. industry employing more than 400,000 people.