CONSHOHOCKEN, PA -- (MARKET WIRE) -- 02/28/07 -- Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of persons who purchased or otherwise acquired publicly traded securities of Celestica, Inc. ("Celestica" or the "Company") (NYSE: CLS) between July 27, 2006 and December 12, 2006, inclusive (the "Class Period"). The lawsuit was filed against Celestica and certain officers and directors ("Defendants").

If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at info@gsk-law.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than March 13, 2007 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel.

The complaint alleges that Defendants violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that the Company failed to disclose and misrepresented that: (1) demand for products produced by its Information Technology and Communications Divisions was declining due to a drop off in orders placed by its key customers; (2) inventory at the Company's Monterrey, Mexico facility built up to the level where much of it had to be written off; (3) that the Company lacked adequate internal controls; and (4) as a result, the Company's statements about its financial health and future business prospects were lacking any reasonable basis.

On December 12, 2006, in contrast to its prior statements, the Company announced that it was drastically lowering its financial guidance for the fourth quarter of 2006. In reaction to this news, Celestica shares fell $1.14 per share, or 12% to close on December 12, 2006 at $8.23 per share.

If you bought Celestica securities between July 27, 2006 and December 12, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 753-2796 or email info@gsk-law.com to speak with an advisor.

Contact:
Mark S. Goldman, Esq.
(888) 753-2796