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Parlex Corporation Files to Increase Shares

18 July 2000

Parlex Corporation Files to Increase Shares

    METHUEN, Mass. - Parlex Corporation announced today that it has filed a proxy statement with the Securities and Exchange Commission regarding its intention to hold a Special Meeting of Stockholders in order to vote to amend the Company's Restated Articles of Organization. This amendment will, if approved, increase the number of authorized shares of Common Stock from 10 million to 30 million. The Proxy Statement indicates that the shares will be used for corporate purposes which may include stock splits or stock dividends, the sale of stock to raise capital, the issuances of stock options or for strategic purposes such joint ventures or strategic alliances. Parlex currently has 6,656,952 shares of Common Stock outstanding or reserved for issuance under the Company's stock option plans. The Company recently completed a secondary public offering and sold 1,460,000 shares of its Common Stock.

    Parlex Corporation is a leading provider of flexible interconnect solutions to the automotive, telecommunications and networking, diversified electronics, aerospace and computer markets. The Company operates seven manufacturing facilities which are located in Massachusetts, New Hampshire, California, Rhode Island, China, Mexico, and the United Kingdom.