Arrow Electronics Completes Acquisition Of Pioneer-Standard's Industrial Electronics Division.

Business Editors

MELVILLE, N.Y.--(BUSINESS WIRE)--Feb. 28, 2003

Arrow Electronics, Inc. (NYSE:ARW) announced that it has completed its previously-announced acquisition of Pioneer-Standard's Industrial Electronics Division ("IED"). The purchase price for IED is currently estimated to be approximately $230 million, subject to adjustment based upon an audit of the assets and liabilities being acquired.

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.