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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1. Name and Address of Reporting Person * MURPHY LAWRENCE J   2. Issuer Name and Ticker or Trading Symbol JABIL CIRCUIT INC [JBL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 10560 DR. MARTIN LUTHER KING JR. ST N 3. Date of Earliest Transaction (Month/Day/Year) 01/26/2006 (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 01/26/2006   M   40,000 A $ 15.125 53,500 D   Common Stock 01/26/2006   S   4,100 D $ 40.2 49,400 D   Common Stock 01/26/2006   S   4,500 D $ 40.25 44,900 D   Common Stock 01/26/2006   S   9,200 D $ 40.26 35,700 D   Common Stock 01/26/2006   S   1,400 D $ 40.27 34,300 D   Common Stock 01/26/2006   S   9,900 D $ 40.28 24,400 D   Common Stock 01/26/2006   S   600 D $ 40.31 23,800 D   Common Stock 01/26/2006   S   200 D $ 40.32 23,600 D   Common Stock 01/26/2006   S   100 D $ 40.33 23,500 D   Common Stock 01/26/2006   S   9,800 D $ 40.41 13,700 D   Common Stock 01/26/2006   S   200 D $ 40.46 13,500 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

Non-Qualified Stock Option (right to buy) (1)

$ 15.125

01/26/2006

M

40,000

03/08/1998(2)

09/08/2007

Common Stock

40,000

$ 0 (3)

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MURPHY LAWRENCE J 10560 DR. MARTIN LUTHER KING JR. ST N ST. PETERSBURG, FL 33716-3718	X

Signatures

By: Robert L. Paver, Attorney-in-Fact For: Larry Murphy		01/30/2006
**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)	The reporting person filed a Form 4 on October 9, 1997 which inadvertently referenced a grant date of September 5, 1997 instead of September 8, 1997 and an expiration date of September 5, 2007 instead of September 8, 2007.
(2)	Option vests at a rate of 1/3 of the shares granted on each anniversary of the Vesting Commencement Date.
(3)	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.

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