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SSI Extends Tender Offer For Outstanding Shares Of Smartflex

11 August 1999

SSI Acquisition Corp. Extends Tender Offer For All Outstanding Shares Of Smartflex Systems, Inc.

    AUBURN HILLS, Mich., Aug. 10 -- SSI Acquisition Corp., a
wholly-owned subsidiary of Saturn Electronics & Engineering, Inc., announced
today that it has extended to 12:00 Midnight, New York City time on Wednesday,
August 25, 1999, the expiration date of its offer to purchase all of the
issued and outstanding shares of common stock of Smartflex Systems, Inc.
, for $10.50, net to the seller in cash.  The tender offer was
previously scheduled to expire at 12:00 Midnight, New York City time on
Wednesday, August 11, 1999.
    As of Tuesday, August 10, 1999, 2,766,446 Smartflex Systems, Inc. shares
had been tendered, representing 42.6% of the outstanding common stock.
    Saturn Electronics & Engineering, Inc., whose corporate headquarters are
located in Auburn Hills, Michigan, is a privately-held company providing
electronic and electromechanical systems for automotive and non-automotive
applications.  Saturn's worldwide facilities include its headquarters,
Innovation Center (Tech Center), sales offices and manufacturing facilities in
Auburn Hills, Rochester Hills, Oxford and Coopersville, Michigan; Rocky Mount,
North Carolina; Marks, Mississippi; and Juarez and Monterrey, Mexico.  Based
in Tustin, California, and founded in 1985, Smartflex is an electronics
manufacturing services expert in precision, automated manufacturing.
Smartflex serves customers worldwide from its factories and technology centers
in Cebu, Phillippines; Monterrey and Guadalajara, Mexico; Singapore; West Long
Branch, New Jersey; Hudson, New Hampshire; and Santa Clara, Fremont and
Tustin, California.  Smartflex's common stock is traded on the Nasdaq Stock
Market under the ticker symbol SFLX.