Avnet Announces Strategic Partnership with Arizona State University; $1 Million Endowment Forges Relationship Between Global Technology Marketer and ASU's Manufacturing Institute.

Business Editors

PHOENIX--(BUSINESS WIRE)--Aug. 15, 2000

Avnet Inc. (NYSE:AVT) has pledged $1 million to Arizona State University's Manufacturing Institute and its College of Business and College of Engineering and Applied Sciences to support two endowed professorships in Supply-Chain Management.

Roy Vallee, Avnet's chairman and chief executive officer, Tuesday announced the strategic partnership, in conjunction with the grand opening of Avnet's Computer Marketing operating group's new headquarters at the ASU Research Park in Tempe, Ariz. The endowment pledge resulted from a series of meetings between Avnet executives and ASU educators.

"With Avnet's leadership position in the electronics and computer products industries as a supply-chain integrator and ASU's innovative research in supply-chain issues, this partnership is a natural fit," Vallee said. "ASU is recognized for its leading Supply-Chain Management academic program, which attracts outstanding faculty and students.

"By creating this partnership, ASU is not only gaining Avnet support, but the peripheral support of all the companies with which we do business," Vallee said. "In supply chain-centric businesses that comprise the electronics and computer products industries, where time-to-market and low cost are key issues, companies go to market only as fast as the slowest member of their supply chain.

"And the quality of the products and services delivered is only as good as that generated by the weakest link in the chain."

"The ASU Manufacturing Institute's research team recognizes that supply-chain management is widely regarded today as an effective means of creating long-term, sustainable competitive advantage," explained Lattie Coor, ASU president. "A well-planned and well-executed supply chain will deliver products more quickly, with higher profitability.

"The research team's goal is to develop appropriate models for improving the supply chain -- models with industry applications that are expected to ultimately create greater shareholder value," Coor added.

According to Coor, ASU has demonstrated that the interaction between a strategically aligned faculty member and an industry expert provides the foundation for a powerful and binding university/industry relationship -- one that is distinguished by ongoing collaboration and high-level information exchange. The advantages extend to the faculty/student relationship as well, Coor notes.

"The best and brightest students often depend on faculty recommendations as they determine their career choices. An Avnet professor will certainly provide students with opportunities to interact with Avnet professionals, to participate in intern programs and to generate interest in Avnet's global business.

"We look forward to a long and mutually satisfying partnership with Avnet," Coor said. "We recognize and appreciate Avnet's foresight in contributing to the preparation of a well-trained future workforce."

Phoenix-based Avnet Inc., a Fortune 500 company with annual sales exceeding $9 billion, is one of the world's largest distributors of semiconductors, interconnect, passive and electromechanical components and computer products from the industry's leading manufacturers.

Serving customers in 60 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain integration, engineering design and technical services. The company's Web site is located at www.avnet.com