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                                                                    EXHIBIT 99.1
                                                                    ------------

FOR IMMEDIATE RELEASE:                      CONTACT:  Nancy J. Sterling, APR
January 25, 2002                                      ML Strategies, LLC
                                                      (617) 348-1811



                        ACT MANUFACTURING, INC. RECEIVES
                         ADDITIONAL DIP FINANCING TODAY

         Hudson, MA--After a preliminary hearing today in Federal Bankruptcy
Court in Worcester, Massachusetts, ACT Manufacturing, Inc. announced it received
$20 million of Debtor in Possession (DIP) financing under Chapter 11. The Judge
handling the case is the Honorable Joel Rosenthal.

         The company filed for reorganization on December 21, 2001. The funds
approved today, subject to a final hearing, are through June 2002 and would
allow ACT to continue to service customers and maintain day-to-day operations.
The firm believes that the multi-month DIP, along with the ongoing cash
collateral, would be sufficient to meet ACT's operational needs.

         ACT has operations in California, Georgia, Massachusetts, Mississippi,
France, England, Ireland, Mexico, Singapore, Taiwan and Thailand. ACT's overseas
operations are unaffected by the Chapter 11 filing.

         The company, headquartered in Hudson, Massachusetts, provides
value-added electronics manufacturing services to original equipment
manufacturers in the networking and telecommunications, computer and industrial
and medical equipment markets. The Company provides OEMs with complex printed
circuit board assembly primarily utilizing advanced surface mount technology,
electro-mechanical subassembly, total system assembly and integration,
mechanical and molded cable and harness assembly and other value-added services.

         This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that are neither
guarantees nor promises, but which are subject to risks and uncertainties that
could cause actual results to differ materially from those anticipated. We
caution you not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. Forward-looking statements relate, among
other things, to ACT's role in the electronics manufacturing services market,
the results of actions taken by management, the strength of our customers'
markets and the outsourcing model in the electronics industry, expected
operating and financial results, sources of liquidity and capital resources,
effects of our cash management plan, negotiations with lenders and other
parties, anticipated results of restructuring efforts, developments within the
customer base and market opportunities, future customer shipments, and the plans
and objectives of management. Those risks and

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uncertainties include, among others: changes or anticipated changes in economic
conditions; trends in the electronics industry; the strength of our customers'
markets and future customer demands; the financial condition of our customers;
the inability to achieve satisfactory financial arrangements with bank lenders
and other financial sources; the inability to successfully integrate acquired
businesses, the inability to achieve expected synergies and cost associated with
acquisitions; the effectiveness of managing manufacturing processes; increased
competition and its effects on pricing, revenues and gross margins, and our
customer base; our ability to timely complete, configure and ship products; and
changes, reductions, delays or cancellations of customer orders. In addition,
our business and results of operations are subject to numerous additional risks
and uncertainties, including the short-term nature of customer orders,
customers' announcements and introductions of new products or new generations of
products, evolutions in the life cycles of customers' products, inventory
obsolescence and currency exchange rate movements. For a more detailed
discussion of the risks and uncertainties of our business, please refer to our
periodic reports filed with the Securities and Exchange Commission, including
our Annual Report on Form 10-K for the period ended December 31, 2000 and our
Quarterly Reports on Form 10-Q for the periods ended March 31, 2001, June 30,
2001 and September 30, 2001.




