Avnet Files Form S-3 Shelf Registration Statement.

Business Editors/High-Tech Writers

PHOENIX--(BUSINESS WIRE)--Oct. 2, 2000

Avnet Inc. (NYSE:AVT) filed a Form S-3 shelf registration statement with the Securities and Exchange Commission, which became effective on Sept. 29, 2000, pursuant to which it may issue up to $1.5 billion of debt or equity securities.

The company intends initially to issue debt securities under the registration statement in order to help finance the previously announced $740 million (estimated) acquisition of EBV, WBC, Atlas Europe and RKE Systems and to provide funds for increases in working capital to support additional growth in business.

The company believes the amount of securities being registered will be sufficient to meet its capital needs for the foreseeable future.

Phoenix-based Avnet Inc. 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 and engineering design services. A Fortune 500 company, Avnet's sales exceed $9 billion. The company's web site is located at www.avnet.com.