<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a2067512zex-99_1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<PAGE>


Exhibit 99.1
Press Release


[NEC logo]                                                      [Celestica logo]

Media Contact:

Akiko Shikimori / Ken Fukuchi                    Laurie Flanagan
NEC Corporation                                  Celestica Inc.
Tel: 81-03-3798-6511                             Tel: 416-448-2200
Fax: 81-03-3457-7249                             Fax: 416-448-5527
E-mail: a-shikimori@ay.jp.nec.com                E-mail: flanagan@celestica.com



                           NEC AND CELESTICA ANNOUNCE
                             SIGNIFICANTLY EXPANDED
                       STRATEGIC OUTSOURCING RELATIONSHIP


TOKYO,  JAPAN AND  TORONTO,  CANADA,  JANUARY 8, 2002 -- NEC  Corporation  (NEC)
(NASDAQ:  NIPNY) (FTSE: 6701q.l) and Celestica Inc. (Celestica) (NYSE, TSE: CLS)
today  announced that they have entered into an agreement  regarding a strategic
outsourcing relationship under which the companies will, on closing,  commence a
five-year supply agreement, with total estimated revenue of approximately US$2.5
billion.

As part of the  transaction,  Celestica  will assume  supply  chain  management,
sub-assembly, final assembly, integration and testing for a broad range of NEC's
optical backbone and broadband access equipment.

Highlights of the transaction are as follows:

o    Under the terms of the  agreement,  Celestica will expand its operations in
     Japan by acquiring  certain of NEC's advanced  manufacturing  facilities in
     Miyagi and  Yamanashi,  Japan.  NEC's Miyagi and Yamanashi  facilities  are
     engaged  in  the  development  and   manufacturing   of  advanced   optical
     transmission  systems,  including  wavelength division  multiplexing system
     (WDM)  and  SONET/SDH,  as  well as  access  network  systems  such as xDSL
     (DSLAM).

o    Approximately 1,200  highly-skilled  manufacturing  specialists and related
     support staff, including 800 from NEC's Miyagi operation and 400 from NEC's
     Yamanashi operation, will join Celestica.

o    The  transaction is expected to close by March 31, 2002,  subject to normal
     closing conditions,  including regulatory approvals. Further details of the
     deal were not disclosed.

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o    The design and development functions currently performed by NEC Miyagi will
     remain  with NEC and NEC Miyagi will  continue  as a  developer  of optical
     transmission  systems.  The development and manufacturing  operation of NEC
     Yamanashi's Otsuki Plant, that is involved in manufacturing optical devices
     and optical submarine cable systems, will also remain with NEC.

"NEC's  growing  partnership  with  Celestica  will  allow  us  to  improve  our
competitive  positioning by further  leveraging our  leading-edge  R&D,  product
development and manufacturing  expertise with Celestica's  global  manufacturing
capabilities  and supply chain management  expertise,"  said Kaoru Yano,  Senior
Vice President of NEC and Company Deputy President of NEC Networks. "Through the
alliance  with  Celestica,   NEC  intends  to  improve  price   competitiveness,
production   lead-times  and  supply  chain   flexibility  to  optimize  overall
manufacturing  efficiency.  NEC also chose to work with  Celestica  based on its
reputation  for  providing  global,  advanced  manufacturing   capabilities  and
cost-effective  supply chain solutions for the world's best  communications  and
information technology companies."

"Celestica is extremely  pleased and honoured to enhance its operations in Japan
through  this  expanded  strategic  relationship  with NEC, a  respected  market
leader," said Eugene  Polistuk,  Chairman and CEO,  Celestica.  "Celestica is an
organization that prides itself on the quality of its employees and the advanced
supply  chain and  manufacturing  capabilities  it  offers  its  customers.  The
addition of NEC's  technologically  advanced operations in Miyagi and Yamanashi,
and the accompanying  highly-skilled  human resources,  complements our existing
Japanese  service  offering and demonstrates our commitment to building a strong
presence in Japan to meet the growing  needs of NEC and other  valued  customers
into the future."

NEC Corporation is being advised by Deutsche Bank in this transaction.

ABOUT NEC CORPORATION
NEC  Corporation  (NASDAQ:  NIPNY)  (FTSE:  6701q.l)  is a leading  provider  of
Internet solutions,  dedicated to meeting the specialized needs of its customers
in the key  computer,  network  and  electron  device  fields  through its three
market-focused in-house companies:  NEC Solutions, NEC Networks and NEC Electron
Devices.  NEC Corporation,  with its in-house companies,  employs  approximately
150,000 people  worldwide and saw net sales of 5,409 billion Yen (approx.  US$43
billion) in fiscal year 2000-2001. For further information, please visit the NEC
home page at: http://www.nec.com

ABOUT CELESTICA
Celestica  is a world leader in  electronics  manufacturing  services  (EMS) for
industry leading original  equipment  manufacturers  (OEMs).  With facilities in
North America, Europe, Asia and Latin America,  Celestica provides a broad range
of services including design, prototyping, assembly, testing, product assurance,
supply chain management, worldwide distribution and after-sales service.

For    further    information    on    Celestica,    visit   its    website   at
http://www.celestica.com. The company's security filings can also be accessed at
www.sedar.com.
                                      ***

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CELESTICA SAFE HARBOUR AND FAIR DISCLOSURE STATEMENT

STATEMENTS  CONTAINED IN THIS PRESS RELEASE WHICH ARE NOT  HISTORICAL  FACTS ARE
FORWARD-LOOKING  STATEMENTS  WHICH  INVOLVE RISK AND  UNCERTAINTIES  WHICH COULD
CAUSE  ACTUAL  RESULTS  TO  DIFFER   MATERIALLY  FROM  THOSE  EXPRESSED  IN  THE
FORWARD-LOOKING  STATEMENTS.  AMONG  THE  KEY  FACTORS  THAT  COULD  CAUSE  SUCH
DIFFERENCES  ARE: THE LEVEL OF OVERALL GROWTH IN THE  ELECTRONICS  MANUFACTURING
SERVICES  (EMS)  INDUSTRY;   LOWER-THAN-EXPECTED   CUSTOMER   DEMAND;  COMPONENT
CONSTRAINTS;  VARIABILITY OF OPERATING RESULTS AMONG PERIODS;  DEPENDENCE ON THE
COMPUTER  AND  COMMUNICATIONS  INDUSTRIES;  DEPENDENCE  ON A  LIMITED  NUMBER OF
CUSTOMERS;   AND  THE  ABILITY  TO  MANAGE  EXPANSION,   CONSOLIDATION  AND  THE
INTEGRATION OF ACQUIRED BUSINESSES. THESE AND OTHER FACTORS ARE DISCUSSED IN THE
COMPANY'S VARIOUS PUBLIC FILINGS AT http://www.sedar.com and http://www.sec.gov

AS OF ITS DATE, THIS PRESS RELEASE CONTAINS ALL MATERIAL INFORMATION  ASSOCIATED
WITH THIS EVENT.


NEC CAUTIONARY STATEMENT:

THE  STATEMENTS IN THIS MATERIAL  WITH RESPECT TO NEC'S PLANS,  STRATEGIES,  AND
BELIEFS,  AS  WELL  AS  OTHER  STATEMENTS  THAT  ARE NOT  HISTORICAL  FACTS  ARE
FORWARD-LOOKING  STATEMENTS  INVOLVING  RISKS AND  UNCERTAINTIES.  THE IMPORTANT
FACTORS  THAT  COULD  CAUSE  ACTUAL  RESULTS  TO  DIFFER  MATERIALLY  FROM  SUCH
STATEMENTS INCLUDE, BUT ARE NOT LIMITED TO, GENERAL ECONOMIC CONDITIONS IN NEC'S
MARKETS,  WHICH ARE PRIMARILY JAPAN, NORTH AMERICA, ASIA AND EUROPE; DEMAND FOR,
AND  COMPETITIVE  PRICING  PRESSURE  ON,  NEC'S  PRODUCTS  AND  SERVICES  IN THE
MARKETPLACE;  NEC'S  ABILITY TO CONTINUE TO WIN  ACCEPTANCE  OF ITS PRODUCTS AND
SERVICES IN THESE HIGHLY COMPETITIVE MARKETS; AND MOVEMENTS OF CURRENCY EXCHANGE
RATES,  PARTICULARLY  THE RATE BETWEEN THE YEN AND THE U.S.  DOLLAR IN WHICH NEC
MAKES  SIGNIFICANT  SALES.  AMONG  OTHER  FACTORS,  A  WORSENING  OF THE ONGOING
DOWNTURN  IN THE IT  MARKETS  WOULD  CAUSE  ACTUAL  RESULTS  TO DIFFER  FROM THE
FORWARD-LOOKING STATEMENTS ABOVE.


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