-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SUmph54HdzTHV0hPqqBCaz67CeKip0QpJJ2FNIkFH21rUAz/yTekRnVKq9lN/KGB j8sgMFxp1i1uB1Z/enKRiw== 0000950124-99-003902.txt : 19990628 0000950124-99-003902.hdr.sgml : 19990628 ACCESSION NUMBER: 0000950124-99-003902 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990625 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLEXUS CORP CENTRAL INDEX KEY: 0000785786 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 391344447 STATE OF INCORPORATION: WI FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 000-14824 FILM NUMBER: 99651963 BUSINESS ADDRESS: STREET 1: 55 JEWELERS PARK DR CITY: NEENAH STATE: WI ZIP: 54957-0156 BUSINESS PHONE: 9207223451 MAIL ADDRESS: STREET 1: PLEXUS CORP STREET 2: 55 JEWELERS PARK DR CITY: NEENAH STATE: WI ZIP: 54957-0156 11-K 1 FORM 11-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11 - K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 1998 ---------------------------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from to ------------------ ------------------- Commission file number 000-14824 [Plexus Corp.] ----------------------------------------------- A. Full title of the plan and the address of the plan, if different from that of the issuer named below: PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: PLEXUS CORP. 55 JEWELERS PARK DRIVE NEENAH, WISCONSIN 54956 2 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN REPORT ON AUDITS OF FINANCIAL STATEMENTS AS OF DECEMBER 31, 1998 AND 1997 AND FOR THE YEAR ENDED DECEMBER 31, 1998 3 REPORT OF INDEPENDENT ACCOUNTANTS To the Participants and Administrator of the Plexus Corp. Employee Stock Savings Plan In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the Plexus Corp. Employee Stock Savings Plan (the "Plan") as of December 31, 1998 and 1997, and the changes in net assets available for benefits for the year ended December 31, 1998, in conformity with generally accepted accounting principles. These financial statements are the responsibility of the Plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in the schedules of assets held for investment purposes and reportable transactions is presented for purposes of additional analysis and is not a required part of the basic financial statements but is additional information required by the Employee Retirement Income Security Act of 1974. The fund information in the statements of net assets available for benefits and the statement of changes in net assets available for benefits is presented for purposes of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of each fund. The schedules and the fund information have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. Milwaukee, Wisconsin April 29, 1999 4 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN INDEX TO FINANCIAL STATEMENTS DECEMBER 31, 1998 AND 1997 - --------------------------------------------------------------------------------
Page ---- Report of Independent Accountants 1 Statements of Net Assets Available for Benefits with Fund Information as of December 31, 1998 and 1997 2 Statement of Changes in Net Assets Available for Benefits with Fund Information for the year ended December 31, 1998 Notes to Financial Statements 4-6 Schedules Required by the Department of Labor Rules and Regulations: * Form 5500, Item 27a, Schedule of Assets Held for Investment Purposes as of December 31, 1998 7 Form 5500, Item 27d, Schedule of Reportable Transactions for the year ended December 31, 1998 8
* Other schedules required by the Department of Labor have been omitted because they are not applicable. 5 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN STATEMENT OF CHANGES NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1998 - -------------------------------------------------------------------------------- 1998 Participant Directed - --------------------------------------------------------------------------------
Oppenheimer Employer Ivy Money Quest Munder Unitized Market Ivy Bond Opportunity Index 500 Stock Fund Fund Fund Value Fund Fund ---------- ---- ---- ---------- ---- Investments, at fair value $27,167,894 $ 2,046,023 $ 625,190 $ 3,517,266 $ 3,928,634 ----------- ----------- ----------- ----------- ----------- Receivables: Employer's contribution 43,294 -- -- -- -- Participants' contributions 15,323 2,555 3,503 17,010 19,188 ----------- ----------- ----------- ----------- ----------- Total receivables 58,617 2,555 3,503 17,010 19,188 ----------- ----------- ----------- ----------- ----------- Net assets available for benefits $27,226,511 $ 2,048,578 $ 628,693 $ 3,534,276 $ 3,947,822 =========== =========== =========== =========== =========== EuroPacific AIM Seligman AIM Value Growth Constellation Frontier Fund Fund Fund Fund Total ---- ---- ---- ---- ----- Investments, at fair value $ 3,580,541 $ 2,009,632 $ 2,930,476 $ 1,810,754 $47,616,410 ----------- ----------- ----------- ----------- ----------- Receivables: Employer's contribution -- -- -- -- 43,294 Participants' contributions 19,699 13,328 19,441 13,378 123,425 ----------- ----------- ----------- ----------- ----------- Total receivables 19,699 13,328 19,441 13,378 166,719 ----------- ----------- ----------- ----------- ----------- Net assets available for benefits $ 3,600,240 $ 2,022,960 $ 2,949,917 $ 1,824,132 $47,783,129 =========== =========== =========== =========== ===========
1997 Participant Directed - --------------------------------------------------------------------------------
Oppenheimer Employer American Cash Quest Vanguard Unitized Management MFS Bond Opportunity Index 500 Stock Fund Fund Fund Value Fund Fund ---------- ---- ---- ---------- ---- Investments, at fair value $13,596,121 $ 479,825 $ 350,036 $ 2,703,277 $ 2,493,480 ----------- ----------- ----------- ----------- ----------- Receivables: Employer's contribution 37,431 -- -- -- -- Participants' contributions 15,671 1,671 3,114 15,505 14,743 ----------- ----------- ----------- ----------- ----------- Total receivables 53,102 1,671 3,114 15,505 14,743 ----------- ----------- ----------- ----------- ----------- Net assets available for benefits $13,649,223 $ 481,496 $ 353,150 $ 2,718,782 $ 2,508,223 =========== =========== =========== =========== =========== EuroPacific AIM Seligman AIM Value Growth Constellation Frontier Fund Fund Fund Fund Total ---- ---- ---- ---- ----- Investments, at fair value $ 1,948,501 $ 1,307,302 $ 1,789,560 $ 1,312,679 $25,980,781 ----------- ----------- ----------- ----------- ----------- Receivables: Employer's contribution -- -- -- -- 37,431 Participants' contributions 16,657 12,150 18,276 12,928 110,715 ----------- ----------- ----------- ----------- ----------- Total receivables 16,657 12,150 18,276 12,928 148,146 ----------- ----------- ----------- ----------- ----------- Net assets available for benefits $ 1,965,158 $ 1,319,452 $ 1,807,836 $ 1,325,607 $26,128,927 =========== =========== =========== =========== ===========
The accompanying notes are an integral part of these financial statements. -2- 6 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN STATEMENT OF CHANGES NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1998 - -------------------------------------------------------------------------------
Participant Directed ----------------------------------------------------------------------------------- Oppenheimer Employee Ivy Money American Cash MFS Quest Munder Unitized Market Management Ivy Bond Bond Opportunity Index 500 Stock Fund Fund Fund Fund Fund Value Fund Fund ----------- --------- ------------- ------- ---- ----------- --------- Additions Additions to net assets attributed to: Investment income (loss): Net appreciation (depreciation) in fair value of investments $16,259,513 $ -- $ -- $ (7,436) $ 10,235 $ 154,698 $ 412,987 Interest -- 35,005 250,423 -- -- -- -- ----------- ---------- -------- -------- -------- ---------- ---------- 16,259,513 35,005 250,423 (7,436) 10,235 154,698 412,987 Contributions: Participants' 467,301 57,209 2,285 86,945 2,180 443,944 455,134 Employer's 1,143,393 -- 887 -- 671 2,858 -- ----------- ---------- -------- -------- -------- ---------- ---------- 1,610,694 57,209 3,172 86,945 2,851 446,802 455,134 ----------- ---------- -------- -------- -------- ---------- ---------- Total additions 17,870,207 92,214 253,595 79,509 13,086 601,500 868,121 ----------- ---------- -------- -------- -------- ---------- ---------- Deductions Deductions from net assets attributed to: Benefits paid to participants (670,639) (227,099) (316) (12,078) (2,109) (89,231) (98,576) ----------- ---------- -------- -------- -------- ---------- ---------- Net increase (decrease) prior to interfund transfers 17,199,568 (134,885) 253,280 67,430 10,977 512,269 769,545 Interfund transfers (3,622,280) 2,183,463 (734,776) 561,263 (364,127) 303,225 3,178,277 ----------- ---------- -------- -------- -------- ---------- ---------- Net increase (decrease) 13,577,288 2,048,578 (481,496) 628,693 (353,150) 815,494 3,947,822 Net asset available for benefits: Beginning of year 13,649,223 -- 481,496 -- 353,150 2,718,782 -- ----------- ---------- -------- -------- -------- ---------- ---------- End of year $27,226,511 $2,048,578 $ -- $628,693 $ -- $3,534,276 $3,947,822 =========== ========== ======== ======== ======== ========== ==========
Participant Directed ----------------------------------------------------------------------------- Vanguard EuroPacific AIM Seligman Index 500 AIM Value Growth Constellation Frontier Fund Fund Fund Fund Fund Total --------- --------- ----------- ------------- -------- ----- Additions Additions to net assets attributed to: Investment income (loss): Net appreciation (depreciation) in fair value of investments $ 341,793 $ 729,221 $ 176,371 $ 378,524 $ (14,553) $18,441,353 Interest -- -- -- -- -- 285,428 ---------- ---------- ---------- ---------- ---------- ----------- 341,793 729,221 176,371 378,524 (14,553) 18,726,781 Contributions: Participants' 20,142 504,500 341,992 494,072 336,294 3,211,998 Employer's 2,540 2,735 1,896 2,357 1,885 1,159,222 ---------- ---------- ---------- ---------- ---------- ----------- 22,682 507,235 343,888 496,429 338,179 4,371,220 ---------- ---------- ---------- ---------- ---------- ----------- Total additions 364,475 1,236,456 520,259 874,953 323,626 23,098,001 ---------- ---------- ---------- ---------- ---------- ----------- Deductions Deductions from net assets attributed to: Benefits paid to participants (135) (101,919) (57,913) (101,114) (82,670) (1,443,799) ---------- ---------- ---------- ---------- ---------- ----------- Net increase (decrease) prior to interfund transfers 364,340 1,134,537 462,346 773,840 240,955 21,654,202 Interfund transfers (2,872,563) 500,545 241,162 368,241 257,570 -- ---------- ---------- ---------- ---------- ---------- ----------- Net increase (decrease) (2,508,223) 1,635,082 703,508 1,142,081 498,525 21,654,202 Net asset available for benefits: Beginning of year 2,508,223 1,965,158 1,319,452 1,807,836 1,325,607 26,128,927 ---------- ---------- ---------- ---------- ---------- ----------- End of year $ -- $3,600,240 $2,022,960 $2,949,917 $1,824,132 $47,783,129 ========== ========== ========== ========== ========== ===========
The accompanying notes are an integral part of these financial statements. - 3 - 7 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1998 AND 1997 - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN The following description of the Plexus Corp. Employee Stock Savings Plan (the "Plan") provides only general information. Participants should refer to the plan agreement for a more complete description of the Plan's provisions. GENERAL The Plan, effective January 1, 1989, is a contributory defined contribution plan covering all employees of Plexus Corp. (the "Company") who have completed 90 days of service. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). CONTRIBUTIONS Employee pre-tax contributions are based on voluntary written elections by the participants directing the Company to defer a stated amount from the participant's compensation. Participants may elect to defer up to 15% of their annual compensation. The Company will make a matching contribution on behalf of a participant equal to 100% of the first 2.5% of the participant's elective deferrals for participants who have completed one year of service. Substantially all Company matching contributions are allocated to the Employer Stock Fund. Contributions are limited by Section 401(k) of the Internal Revenue Code. INVESTMENT ALTERNATIVES Plan participants may direct contributions and their account balances in 1% increments in any of nine investment options maintained by Riggs National Bank of Washington, D.C., the trustee of the Plan. The investment funds available at December 31, 1998 were: Ivy Money Market Fund - A mutual fund which seeks to obtain as high of a level of current income as is consistent with the preservation of capital and liquidity by investing in high-quality, short-term securities. Ivy Bond Fund - A mutual fund which seeks a high level of current income by investing primarily in (i) investment grade corporate bonds (those rated Aaa, Aa, A or Baa by Moody's Investors Services, Inc. ("Moody's") or AAA, AA, A or BBB by Standard & Poor's Corporation ("S&P"), or, if unrated, are considered by the fund manager to be of comparable quality) and (ii) U.S. Government Securities (including mortgage-backed securities issued by U.S. Government agencies or instrumentalities) that mature in more than 13 months. Oppenheimer Quest Opportunity Value Fund - A mutual fund which seeks capital appreciation through investment securities of companies believed to be undervalued in the marketplace. This fund invests primarily in common stock, convertible securities and fixed-income securities. Munder Index 500 Fund - A mutual fund which invests in equity securities which include common stocks, preferred stocks, warrants and other securities convertible into common stocks, including convertible bonds and convertible preferred stock. AIM Value Fund - A mutual fund which seeks to achieve long-term growth of capital by investing primarily in equity securities judged by the fund to be undervalued relative to the appraisal of the companies' current or projected earnings or relative to the equity market in general. -4- 8 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED DECEMBER 31, 1998 AND 1997 - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN, CONTINUED EuroPacific Growth Fund - A mutual fund which seeks to achieve long-term growth of capital by investing in securities of issuers located outside the U.S. The fund invests in common stock of both small and large companies of major world markets, as well as in smaller developing countries. AIM Constellation Fund - A mutual fund which seeks to achieve capital appreciation by investing principally in common stocks with emphasis on medium-sized and smaller emerging growth companies. Seligman Frontier Fund - A mutual fund which seeks to achieve capital appreciation through investing in common stocks of small-sized to medium-sized companies with annual revenues of $400 million or less. The fund may also invest in U.S. government securities, corporate debt securities rated AA or higher, prime commercial paper, and certificates of deposit issued by the 100 largest domestic and 50 largest foreign banks. Employer Unitized Stock Fund - Investment which consists primarily of the common stock of the Company which is traded on the NASDAQ exchange. Participants may change their investment options on a daily basis. PARTICIPANT ACCOUNTS AND ALLOCATIONS Each participant's account is credited with the participant's contributions and allocations of Company contributions and plan earnings. Allocations of plan earnings are based on participant account balances in relation to total fund account balances, as defined by the plan document. Participants in the Employer Stock Fund are allocated an undivided interest in the shares held by the fund. At December 31, 1998 and 1997, the Employer Stock Fund held 800,527 and 867,897 shares of Plexus Corp. common stock valued at $33.9375 and $15.6655 per share, respectively. VESTING AND DISTRIBUTIONS Participants immediately vest in all contributions made to the Plan. Participant accounts are distributable in the form of a lump sum payment of cash or in whole shares of Company securities as elected by the participant upon a participant's retirement, termination of employment, death, disability, financial hardship or attainment of age 59-1/2. In addition, participant accounts can be rolled over into an individual retirement account ("IRA") or another qualified defined contribution plan. Participant distributions may not be deferred past April 1 of the calendar year following the year in which the participant attains age 70-1/2. Forfeitures of unclaimed distributions are used to reduce Company matching contributions. -5- 9 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED DECEMBER 31, 1998 AND 1997 - -------------------------------------------------------------------------------- 2. SUMMARY OF ACCOUNTING POLICIES ACCOUNTING METHOD The financial statements of the Plan are prepared under the accrual method of accounting. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. INVESTMENT VALUATION AND INCOME RECOGNITION Investments are stated at fair value based on the quoted asset values on the last business day of the plan year. Since the Plan's assets are reported at fair value in the financial statements, the statement of changes in net assets available for benefits reflects both realized gains and losses and unrealized appreciation and depreciation of plan assets. Interest income is recognized when earned. ADMINISTRATIVE EXPENSES Certain expenses incurred in the administration of the Plan are paid by the Company and are not reflected within these financial statements. 3. TAX STATUS The Internal Revenue Service has determined and informed the Company by a letter dated May 6, 1998, that the Plan is designed in accordance with applicable sections of the Internal Revenue Code. 4. PLAN TERMINATION Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. 5. EMPLOYER UNITIZED STOCK FUND The Employer Unitized Stock Fund is accounted for on a unitary basis. At December 31, 1998, there were 1,112,207.572 units in the fund with a unit value of $24.427 per unit. At December 31, 1997, there were 1,227,640.700 units in the fund with a unit value of $11.075 per unit. -6- 10
PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN FORM 5500, ITEM 27A, SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1998 - ------------------------------------------------------------------------------------------------------------------------------- Identity of Issuer, Borrower, Lessor Current or Similar Party Description of Investment Cost Value - ---------------------------------------------- ----------------------------------- ----------------------- -------------------- Employer Unitized Stock Fund Plexus Corp. Common Stock (*) $ 8,364,289 $ 27,167,894 Ivy Money Market Fund Mutual Fund 2,046,023 2,046,023 Ivy Bond Fund Mutual Fund 649,022 625,190 Oppenheimer Quest Opportunity Value Fund Mutual Fund 3,350,064 3,517,266 Munder Index 500 Fund Mutual Fund 3,588,793 3,928,634 AIM Value Fund Mutual Fund 3,150,698 3,580,541 EuroPacific Growth Fund Mutual Fund 2,006,870 2,009,632 AIM Constellation Fund Mutual Fund 2,668,605 2,930,476 Seligman Frontier Fund Mutual Fund 1,831,076 1,810,754 --------------------- $ 47,616,410 =====================
* Party-in-interest transactions, which are exempt from prohibited transaction rules under Section 408(b) of ERISA. -7- 11 PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN FORM 5500, ITEM 27D, SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1998 - --------------------------------------------------------------------------------
Expense Current Value incurred of asset on Identity of Issue, Purchase Selling with Cost of Transaction lessor or similar party Description of Asset Price Price transaction Asset Date - ------------------------- ---------------------- --------------- -------------- ------------ ------------ -------------- Employer Unitized Stock Fund 429 Purchases 2,868,472 -- na 2,868,472 2,868,472 652 Sales -- 5,472,601 na 1,199,460 5,472,601 Ivy Money Market Fund 191 Purchases 3,704,578 -- na 3,704,578 3,704,578 249 Sales -- 1,658,548 na 1,658,548 1,658,548 Oppenheimer Quest Opportunity Value Fund 313 Purchases 1,210,896 -- na 1,210,896 1,210,896 350 Sales -- 405,856 na 302,350 405,856 Munder Index 500 Fund 305 Purchases 4,230,904 -- na 4,230,904 4,230,904 341 Sales -- 652,340 na 642,090 652,340 AIM Value Fund 386 Purchases 1,530,276 -- na 1,530,276 1,530,276 331 Sales -- 403,566 na 322,645 403,566 EuroPacific Growth Fund 385 Purchases 1,176,038 -- na 1,176,038 1,176,038 334 Sales -- 192,933 na 178,628 192,933 AIM Constellation Fund 361 Purchases $ 1,200,809 $ -- na $ 1,200,809 $ 1,200,809 339 Sales -- 405,804 na 378,247 405,804 Vanguard Index 500 Fund 88 Purchases 149,812 -- na 149,812 149,812 69 Sales -- 2,978,774 na 2,188,042 2,978,774 Identity of Issue, Net lessor or similar party Gain (loss) - ------------------------- ------------- Employer Unitized Stock Fund -- 4,273,141 Ivy Money Market Fund -- -- Oppenheimer Quest Opportunity Value Fund -- 103,506 Munder Index 500 Fund -- 10,250 AIM Value Fund -- 80,921 EuroPacific Growth Fund -- 14,305 AIM Constellation Fund $ -- 27,557 Vanguard Index 500 Fund -- 790,732
-8- 12 SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. PLEXUS CORP. EMPLOYEE STOCK SAVINGS PLAN Date: June 25, 1999 __________________ Joseph D. Kaufman Employee Stock Savings Plan Fiduciary Committee Member EX-23 2 PRICEWATERHOUSECOOPERS LLP 1 EXHIBIT 23 [PRICEWATERHOUSECOOPERS LLP LETTERHEAD] CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (File No. 33-23490 and File No. 333-06469) of Plexus Corp. of our report dated April 29, 1999 appearing on page 1 of the Financial Statements of Plexus Corp. Employee Stock Savings Plan included in this Annual Report on Form 11-K. /s/ PricewaterhouseCoopers LLP Milwaukee, Wisconsin June 25, 1999 -----END PRIVACY-ENHANCED MESSAGE-----