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Parlex Executive Retires

7 December 2000

Parlex Executive Retires

    METHUEN, Mass.--Dec. 7, 2000--Parlex Corporation today announced that Steven M. Millstein, vice president and treasurer, has retired effective November 30, 2000. Mr. Millstein, who has been with Parlex since 1977 and a corporate officer since 1978, will remain as a consultant to the Company through December 2001. Mr. Millstein has had a long and successful career at Parlex Corporation spanning more than 20 years.
    Peter J. Murphy, president and chief executive officer, stated, "For over twenty years Steve has been a key member of the management team. During his tenure the company has grown from under $10 million to over $100 million in revenues. He established the Company's financial systems and was instrumental in our initial public offering and the acquisition of several other flexible interconnect entities. We wish him the very best in retirement."
    Robert A. Rieth, senior vice president and chief financial officer, will assume the additional duties of treasurer.
    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.

    The foregoing contains certain forward-looking statements. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of various factors beyond its control, including economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change. For a detailed discussion of these and other cautionary statements, please refer to Parlex's filings with the Securities and Exchange Commission.

    NASDAQ SYMBOL "PRLX"