Arrow Electronics Comments On Second Quarter Estimates; Schedules Second Quarter Conference Call.

Business Editors

Arrow Electronics, Inc. (NYSE:ARW) today announced that sales from continuing operations for the second quarter of 2002 would be approximately $1.84 billion, flat with sales from continuing operations in the first quarter.

First quarter sales, as reported, included $108 million attributable to the Gates/Arrow commodity computer products business which was sold in the second quarter of 2002. The company currently expects that earnings (before certain one-time items) will be between breakeven and the published Wall Street consensus of $.06 per share.

As anticipated, Arrow's second quarter results will also reflect certain one-time items such as the write-off of goodwill as required by FAS 142, losses associated with the previously-announced disposal of Gates/Arrow, and costs relating to the separation of the company's former chief executive officer.

Arrow announced that it will report second quarter 2002 earnings on Tuesday, July 30, and will host a conference call to discuss the earnings at 11:00 AM Eastern time on the same day.

In order to participate in the call, participants in the U.S. should dial: 877-715-5318. International participants should dial: 973-582-2788. Please ask for the Arrow Electronics call with Robert Klatell.

A replay of the call will be available starting at 6:00 PM Eastern Time on July 30 and continuing through 6:00 PM on August 6, 2002. The replay numbers are: 877-519-4471 (domestic) and 973-341-3080 (international). The access code is 3381132.

Arrow Electronics is one of the world's largest distributors of electronic components and computer products and a leading provider of services to the electronics industry. Headquartered in Melville, New York, Arrow serves as a supply channel partner for more than 600 suppliers and over 175,000 original equipment manufacturers, contract manufacturers, and commercial customers through more than 200 sales facilities and 23 distribution centers in 40 countries. Detailed information about Arrow's operations can be found at www.arrow.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release contains forward-looking statements that are subject to certain risks and uncertainties which could cause actual results or facts to differ materially from such statements for a variety of reasons including, but are not limited to: industry conditions, changes in product supply, pricing, and customer demand, competition, other vagaries in the computer and electronic components markets, changes in relationships with key suppliers and the other risks described from time to time in the company's reports to the Securities and Exchange Commission (including the company's Annual Report on Form 10-K). Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any forward-looking statements.