Avnet - Kent Merger Closer to Completion.

Business Editors/High-Tech Writers

PHOENIX--(BUSINESS WIRE)--May 3, 2001

Roy Vallee, chairman and chief executive officer of Avnet Inc. (NYSE:AVT) Thursday announced that the United States government has granted early termination of the Hart-Scott-Rodino (HSR) antitrust waiting period in connection with Avnet's planned merger with Kent Electronics (NYSE:KNT).

The two companies still await approval by their respective shareholders of record as of April 26, who will vote on the merger at special meetings to be held on June 6.

"We are very pleased to have quickly passed the HSR review period. We are hopeful that the shareholders of both companies will appreciate the value this merger brings and that they will vote to approve it," said Vallee. "With the expected shareholders' support, we plan to close the transaction on or about June 8."

Houston-based Kent Electronics is among the largest publicly traded specialty electronics distributors and network integrators, with sales of approximately $1 billion. Kent Components provides distribution and value-added services with a focus on interconnect, passive and electromechanical components.

Kent Datacomm provides complete end-to-end networking solutions, including design, consulting, source selection, product configuration and installation, warranty and technical support. Kent's Web site is located at http://www.kentelectronics.com.

Phoenix-based Avnet Inc., a Fortune 500 company with annual sales exceeding $12.3 billion, is one of the world's premier distributors of semiconductors, interconnect, passive and electromechanical components, computer products and enterprise solutions and embedded systems from leading manufacturers.

Serving customers in 63 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain management and engineering services. Avnet's Web site is located at http://www.avnet.com.