Arrow Electronics Successfully Negotiates $1.25 Billion in New Credit Facilities.

Business Editors

MELVILLE, N.Y.--(BUSINESS WIRE)--Feb. 27, 2001

Arrow Electronics, Inc. (NYSE:ARW) announced that it has refinanced its two principal bank credit facilities scheduled to mature during 2001.

The company successfully closed a new $625 million 364-day credit facility and a $625 million 3-year credit facility, both of which were arranged by JP Morgan, a division of Chase Securities, Inc. Bank of America acted as syndication agent for the new facilities, and FleetBoston Financial serves as the documentation agent. These new credit facilities, aggregating $1.25 billion, replaced a 364-day credit facility that was to expire on March 23, 2001 and a medium-term credit facility that was to expire on September 30, 2001.

"We are gratified by the support Arrow continues to receive from our entire bank group," stated Francis M. Scricco, President and Chief Executive Officer of Arrow, "and are especially pleased by the leadership positions taken by JP Morgan, Bank of America, and FleetBoston. Many of these banks have been long-term supporters of Arrow, providing a good deal of our working capital and acquisition financing over the years, and contributing to our success."

Arrow Electronics is the world's largest distributor of electronic components and computer products, with 2000 sales of $13 billion. Headquartered in Melville, New York, Arrow serves as a supply channel partner for more than 600 suppliers and 175,000 original equipment manufacturers, contract manufacturers, and commercial customers through more than 225 sales facilities and 19 distribution centers in 38 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 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.