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Sheldahl, Inc. Secures $1.8 Million in New Capital

11 January 2000

Sheldahl, Inc. Secures $1.8 Million in New Capital

    NORTHFIELD, Minn., Jan. 11 -- Sheldahl, Inc.
today announced the infusion of $1.8 million in exchange for new preferred
equity from two of its current shareholders.  Molex Incorporated
is the lead investor, subscribing to purchase $1.3 million of
this new equity.  The $1.8 capital infusion will occur this month and will be
used for general working capital purposes.  Both investors have expressed
interest in further investments in the future.  Additional investments are
subject to Nasdaq rules and regulations.
    Terms on this new Series F 5% Convertible Preferred Stock call for a
conversion price of $5.46 per share and include warrants to purchase 55,800
shares of the Company's common stock at the conversion price.
    Molex Incorporated Chief Executive Officer, Fred Krehbiel, stated, "This
latest round of investment and commitment to Sheldahl is indicative of our
continuing confidence in the Company and its future.  We are pleased with the
growth and improvements made in the core business.  We stand by Sheldahl as a
major long-time customer, market partner and investor."
    Edward L. Lundstrom, President and Chief Executive Officer, commented,
"The long standing and positive relationship between the two companies, which
have accomplished business together over the past 10 years, is indicative of
Molex's management's belief and confidence in Sheldahl's strategic direction.
We welcome this additional investment in Sheldahl and believe this
strengthened relationship will ultimately benefit both companies."
    In July 1998, Molex and Sheldahl formed Origin, a joint venture of the two
companies to design, market and assemble modular interconnect systems products
for the automotive industry.  The joint venture is owned 60% by Molex and 40%
by Sheldahl.  Molex also was the lead investor in a July 1998 private
placement offering by Sheldahl and today owns approximately 4% of Sheldahl's
outstanding common stock.  After any future conversion of the preferred shares
just purchased, coupled with future conversion of the preferred shares
purchased in July 1998, Molex would own approximately 19% of Sheldahl common
stock.
    Sheldahl is a leading producer of high-density substrates, high-quality
flexible printed circuitry, and flexible laminates primarily for sale to the
automotive electronics and data communications markets. The Company, which is
headquartered in Northfield, Minnesota, has operations in Northfield;
Longmont, Colorado; Detroit, Michigan; South Dakota; Toronto, Ontario, Canada;
Philippines; and Chihuahua, Chih. Mexico. Its sales offices are located in
Hong Kong, China; Singapore; and Mainz, Germany. Sheldahl's common stock
trades on the Nasdaq National Market tier of the Nasdaq Stock Market under the
symbol: SHEL. Sheldahl news and information can be found on the World Wide Web
at http://www.sheldahl.com
    Molex Incorporated is a 60-year-old manufacturer of electronic, electrical
and fiber optic interconnection products and systems, switches and application
tooling.  Based in Lisle, Ill., USA, the Company operates 47 manufacturing
facilities in 21 countries and employs more than 12,000 people.  Revenues for
the fiscal year ended June 30, 1999, were $1.7 billion.