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Circuit World Announces License of Channel Routing Technology from Nortel Networks

Jun 25, 2003

Toronto, June 10, 2003 � Circuit World Corporation (TSX: CCW) today announced that it is the first PCB (Printed Circuit Board) manufacturer to be licensed under Nortel Networks �Channel Routing� Technology Licensing Program to manufacture and market printed circuit boards utilizing PCB Channel Routing technology from Nortel Networks*.

PCB layout has become very challenging as Ball Grid Array (BGA) package densities and pin counts have increased the need to reduce line widths and spacing in order to �fan out� or escape BGAs, thereby impacting PCB layer count and manufacturability. The increasing number of layers in PCB designs drives up cost and complexity. The Nortel Networks PCB Channel Routing technology provides a solution to help reduce layout time, layer count and the resulting PCB product cost. Nortel Networks also has Channel Routing software available for license that works with a CAD tool to enable PCB designers to efficiently escape BGAs using Channel Routing.

�Being the first to obtain a Channel Routing Technology License under the Nortel Networks Licensing Program, and being able to offer manufacturing of PCBs that utilize this technology to the high end PCB market is a real milestone for PC World and clearly places the company as a leader in the manufacture of complex printed circuit boards,� said Gordon Roseborough, President and CEO of Circuit World.

�Using our patented Channel Routing technology, complex PCBs can be designed with fewer layers, thereby enabling even higher density products, improved manufacturing yields, and overall, a more cost effective PCB,� said Ryan Stark, Vice President, Advanced Technology Investments, Nortel Networks. �We believe Channel Routing can benefit those that are pushing the envelope in complex PCB design.�

�Under the current challenging market conditions, we are constantly seeking out ways to add value to our customer relationships. Channel Routing provides our customers with an engineering solution at a low entry price. It is a technology that reduces cost and pays for itself in less than one design,� said Bob Clarke, Vice President of Marketing and Sales for Circuit World.

Circuit World Corporation is a high-technology fabricator of 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. PC World is a wholly owned subsidiary of Circuit World Corporation.

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:

For Investor Relations

John Bartkiw, CFO

Circuit World Corporation

Tel: (416) 299-4000

johnb@circtwrld.com

For Channel Routing

Bob Clarke, VP Marketing and Sales

Circuit World Corporation

Tel: (416) 299- 4000

bclarke@circtwrld.com

Updates can be found at the company�s web site http://www.circtwrld.com

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

For further information on licensing Channel Routing Technology from Nortel Networks, please contact:

W. M. (Mike) Campbell

Technology and IPR Licensing

Nortel Networks

Tel: (905) 863-1119

wmcamp@nortelnetworks.com

* Nortel Networks is a trademark of Nortel Networks.

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