Circuit World Announces Update.

Business/Technology Editors

TORONTO--(BUSINESS WIRE)--July 10, 2001

Circuit World Corporation (TSE:CCW) announced today that it expects revenues for the second quarter ending June 30, 2001, will be approximately 3% lower than the record $7.9 million reported for the same quarter last year. In addition, the Company anticipates a profitable second quarter in 2001, although earnings will be lower than the record results achieved in the same quarter last year.

Circuit World has experienced a slowdown as a result of the overall weakness in the electronics industry. Management currently anticipates that growth will resume again during the latter part of the year. Cost control measures have been instituted and the Company is currently expanding its sales presence during this period.

Management is satisfied with the Company's performance relative to the industry, which in general is reporting revenue declines of up to 35%, stated Gordon Roseborough, President & C.E.O. of Circuit World. The large Aerospace and Prototype component of our business has definitely worked well for us during this period. Although we see the slowdown continuing through the third quarter, our customer base is expanding with over 10% of our current year's sales coming from new accounts. This should bode well for Circuit World when the economy recovers, Mr. Roseborough noted.

We anticipate additional industry capacity will come off line over and above the significant capacity which already has. This should leave those who have positioned themselves appropriately with new opportunities. We view this current economic situation as an opportunity to further establish our leadership position, added Mr. Roseborough.

The Company will release its second quarter results on Monday August 13, 2001.

Circuit World Corporation is a leading supplier and fabricator of high-technology, high-density, multi-layered printed circuit boards. Approximately 80% of its sales are derived from the Avionics, Telecommunications, Medical and Advanced Test industries in the U.S., with the remainder in Canada. The Company provides a comprehensive printed circuit board manufacturing service, including artwork, prototype and medium volume production as well as quick-turn service.

The Company's shares are traded on the Toronto Stock Exchange under the symbol CCW. Currently there are approximately 7.1 million shares outstanding.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Circuit World with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

For further information please contact:

John Bartkiw, CFO  Tel: [phone] Circuit World Corporation [e-mail]

Natasha Blackburn, Ellen Leesti or Jon W. Kieran, Investor Relations 

Tel: [phone] Hume, Kieran Inc. [e-mail]

Updates can be found at the company's web site www.circtwrld.com

The company welcomes calls from brokers and analysts wishing to learn more about Circuit World.

If you prefer to receive Circuit World press releases via e-mail, please advise Christina Osler at [e-mail]