Celestica completes sale of senior subordinated notes

TORONTO, June 23 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a world leader
in electronics manufacturing services (EMS), today announced that it has
completed its previously announced sale of US$250 million aggregate principal
amount of 7.625% senior subordinated notes due 2013.
The net proceeds of the offering of the senior subordinated notes are
currently anticipated to be used for the repurchase of Liquid Yield Option
Notes, or LYONs.
Banc of America Securities LLC, Citigroup Global Markets Inc. and
Deutsche Bank Securities Inc. acted as joint book-running managers for
Celestica's notes offering.

About Celestica
---------------

Celestica is a world leader in the delivery of innovative electronics
manufacturing services (EMS). Celestica operates a highly sophisticated global
manufacturing network with operations in Asia, Europe and the Americas,
providing a broad range of integrated services and solutions to leading OEMs
(original equipment manufacturers). Celestica's expertise in quality,
technology and supply chain management, and leadership in the global
deployment of Lean principles, enables the company to provide competitive
advantage to its customers by improving time-to-market, scalability and
manufacturing efficiency.
For further information on Celestica, visit its website at
www.celestica.com.
The company's security filings can also be accessed at www.sedar.com and
www.sec.gov.

Celestica Safe Harbour and Fair Disclosure Statement
----------------------------------------------------
This news release contains forward-looking statements related to our
future growth, trends in our industry and our financial and operational
results and performance that are based on current expectations, forecasts and
assumptions involving risks and uncertainties that could cause actual  
outcomes and results to differ materially. These risks and uncertainties
include, but are not limited to: the challenges of effectively managing our
operations during uncertain economic conditions; the challenge of responding
to lower-than-expected customer demand; the effects of price competition and
other business and competitive factors generally affecting the EMS industry;
our dependence on the information technology and communications industries;
our dependence on a limited number of customers and on industries affected by
rapid technological change; component constraints; variability of operating
results among periods; and the ability to manage our restructuring and the
shift of production to lower cost geographies. These and other risks and
uncertainties and factors are discussed in the Company's various public
filings at www.sedar.com and http://www.sec.gov, including our Annual Report
on Form 20-F and subsequent reports on Form 6-K filed with the Securities and
Exchange Commission.
We disclaim any intention or obligation to update or revise any    
forward-looking statements, whether as a result of new information, future
events or otherwise.
As of its date, this press release contains all material information
associated with this event.
%SEDAR: 00010284E