Sheldahl, Inc. Reviewing Irwin Jacobs Investor Group Offer Letter

28 February 2000
Sheldahl, Inc. Reviewing Irwin Jacobs Investor Group Offer Letter
    NORTHFIELD, Minn., Feb. 25 -- Sheldahl, Inc.
announced today that it has received an acquisition offer letter from the
Irwin Jacobs Investor Group with an indicated offer price of $8.50 per share
to acquire Sheldahl.  This latest offer is being reviewed by the Company.
    "If appropriate, our Board of Directors will respond when they have
sufficient information regarding this proposal," said Edward L. Lundstrom,
President and Chief Executive Officer.  "Until such time we will have no
further comment."
    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, Minn., has operations in Northfield; Longmont,
Colo.; Detroit, Mich.; South Dakota; Toronto, Ontario, Canada; and Chihuahua,
Chih., Mexico.  Its sales offices are located in Hong Kong, China; Singapore;
and Mainz, Germany.  As of January 31, 2000, Sheldahl employed approximately
870 people.  Sheldahl's common stock trades on the Nasdaq National Market tier
of the Nasdaq Stock Market under the symbol: SHEL.  In its' fiscal year ended
August 27, 1999, Sheldahl reported revenues of $122.1 million.  Sheldahl news
and information can be found on the World Wide Web at http://www.sheldahl.com
    The discussion above contains statements within the meaning of the Private
Securities Litigation Reform Act of 1995.  These statements by their nature
involve substantial risks and uncertainties as described by Sheldahl's
periodic filings.  Actual results may differ materially depending on a variety
of factors, including but not limited to the following:  Sheldahl not entering
into an agreement with respect to a transaction; or any such transaction not
being consummated and Sheldahl successfully defending and ultimately
prevailing on the action brought by a Sheldahl shareholder.  Additional
information with respect to the risks and uncertainties faced by Sheldahl may
be found in, and the prior discussion is qualified in its entirety by, the
Risk Factors contained in the Company's filings with the Securities and
Exchange Commission, including Sheldahl's Annual Report, Form 10-K for the
fiscal year ended August 27, 1999, Forms 10-Q for the quarters ended November
27, 1998; February 26, 1999 and May 28, 1999, and other SEC filings.
    Sheldahl does not undertake any obligation to update any such factors or
to publicly announce developments or events relating to the matters described
herein.