Avnet Named to 100 Best Companies for Working Mothers.

Business Editors

PHOENIX--(BUSINESS WIRE)--Sept. 24, 2002

Avnet Inc. (NYSE:AVT) has been honored with a spot on Working Mother magazine's 17th Annual list of the 100 Best Companies for Working Mothers.

"To be recognized by Working Mother is indeed a top honor for Avnet as a corporation and for its employees who define the culture that is Avnet," said Roy Vallee, chairman and CEO of Avnet Inc. "We know that to attract and retain the best and brightest people, we must offer not only competitive compensation, but also work/life benefits that reflect today's diverse lifestyles and the demands placed on working moms," Vallee continued. "This recognition by Working Mother tells us that we're moving in the right direction, and also reminds us that we must continuously monitor and evaluate our efforts to retain our status as an employer of choice."

"In this era when corporate scandals dominate the national news, it's comforting for me and my husband, Glenn, who is also an Avnet employee, to know that we are working for a company that's managed with integrity and ethics and where working parents' and their unique families' needs are respected," said Terry Bassett, director, global strategy, planning & development, Avnet Electronics Marketing -- and mother of a 2-year-old girl. "Avnet works hard to retain its valuable contributors -- whether they're parents or not. Those employees who have proven their worth will find that the company is respectful of work/life needs. Avnet tries hard not to impose a one-size-fits-all solution."

According to Working Mother magazine, this year's application process for the "100 Best" focused on how well companies are advancing women and providing specific benefits critical for working moms. Editor-in-Chief Jill Kirschenbaum: "Companies find that paying increased attention to the needs of working mothers -- and increasingly, fathers as well -- pays off in recruiting and keeping the best talent." Each year, Working Mother raises the bar, Kirschenbaum claims, as it examines companies to determine the availability of child care, flexible schedules, leave for new parents, and programs that support the advancement of women.

Avnet won its place on Working Mother's list through its efforts as a good corporate citizen, its diversity initiatives, work/life benefits and programs encouraging women to advance. For example, Avnet offers an e-learning platform, executive development program, tuition reimbursement, college scholarships for employees' children and on a case-by-case basis, flexible work options including flexible hours, telecommuting, work at home and part-time employment. Further, the company offers a comprehensive employee advisory resource and information service called LifeWorks, which includes counseling and referral services for issues such as child care, elder care, education, midlife and retirement, disability, financial and legal, managing people, emotional well-being, addiction and recovery.

The company also provides a variety of benefits and assistance programs for spouses and spousal equivalents, as well as wellness screening in major locations, adoption assistance and travel expense reimbursement covering the cost of dependent care -- including pets -- while the employee is traveling on Avnet business.

About Avnet Inc.

Phoenix-based Avnet Inc., a Fortune 500 company with annual sales of $8.9 billion (fiscal 2002 year ended June 29, 2002), is one of the world's largest technology marketing and services providers. Via its three operating groups, the company distributes semiconductors, interconnect, passive and electromechanical components, embedded systems and computer products from leading manufacturers. Serving customers in 63 countries, Avnet delivers services such as inventory management, supply-chain services, bill-of-material analysis, systems integration and engineering design assistance. Its Web site is located at www.avnet.com.

About Working Mother

Working Mother magazine, founded in 1979, reaches more than 3 million readers and is the only national magazine for career-committed mothers. Its 17-year signature "100 Best Companies for Working Mothers" serves as a benchmark for work/life practices in corporate America. The magazine is part of Working Mother Media (WMM), which also owns the National Association for Female Executives (NAFE), Executive Females, and the annual 100 Best Companies Work/Life Conference. In 2002, WMM launched a new initiative, Best Companies for Women of Color.

LifeWorks is a registered trademark of Ceridian.