Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LOVATO JOHN P
  2. Issuer Name and Ticker or Trading Symbol
JABIL CIRCUIT INC [JBL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP, Regional Pres. - Europe
(Last)
(First)
(Middle)
10560 DR. MARTIN LUTHER KING JR. ST N
3. Date of Earliest Transaction (Month/Day/Year)
01/25/2006
(Street)

ST. PETERSBURG, FL 33716-3718
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (1) 01/25/2006   M   732 A $ 15 57,342 D  
Common Stock (1) 01/25/2006   M   948 A $ 12.95 58,290 D  
Common Stock (1) 01/25/2006   M   5,320 A $ 23.0938 63,610 D  
Common Stock (1) 01/25/2006   M   7,600 A $ 23.0938 71,210 D  
Common Stock (1) 01/25/2006   S   14,600 D $ 40 56,610 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) (1) $ 12.95 01/25/2006   M     948 04/17/2003(2) 10/17/2012 Common Stock 948 $ 0 (3) 21,592 D  
Employee Stock Option (right to buy) (1) $ 15 01/25/2006   M     732 03/21/2002(4) 09/21/2011 Common Stock 732 $ 0 (5) 0 D  
Incentive Stock Option (right to buy) (1) $ 23.0938 01/25/2006   M     5,320 04/20/2000(6) 10/20/2009 Common Stock 5,320 $ 0 (5) 0 D  
Non-Qualified Stock Option (right to buy) (1) $ 23.0938 01/25/2006   M     7,600 04/20/2000(6) 10/20/2009 Common Stock 7,600 $ 0 (5) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LOVATO JOHN P
10560 DR. MARTIN LUTHER KING JR. ST N
ST. PETERSBURG, FL 33716-3718
      SVP, Regional Pres. - Europe  

Signatures

 By: Robert L. Paver, Attorney-in-Fact For: John P. Lovato   01/31/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
(2) Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (10/17/02) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of, or consultant (as defined in the relevant stock incentive plan) to, the Company or a subsidiary.
(3) The derivative security is a stock option issued under the Issuer's 2002 Stock Incentive Plan. $0.00 has been inserted to satisfy the requirements to submit this form via the EDGAR system.
(4) Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (9/21/01) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of, or consultant to, the Company or a subsidiary.
(5) The derivative security is a stock option issued under the Issuer's 1992 Stock Option Plan. $0.00 has been inserted to satisfy the requirements to submit this form via the EDGAR system.
(6) Options shall vest at the rate of 12% of the shares upon the expiration of six (6) months after the Vesting Commencement Date (10/20/99) and 2% of the shares at the end of each month thereafter provided that the optionee is an employee of the Company.

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