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ZEUS COMPLETES SALE OF DISTRIBUTION BUSINESS TO ARROW

 PORT CHESTER, N.Y., May 19 /PRNewswire/ -- Zeus Components, Inc. (NASDAQ: ZEUS) announced today that it had completed the sale of its high reliability electronic components distribution and value added businesses and the assets and liabilities related thereto to Arrow Electronics, Inc. (NYSE: ARW). Pursuant to the Agreement Zeus received a purchase price of $21,254,000 in cash plus $3,000,000 in respect of its covenant not to compete with Arrow in this business.
 Of this amount, $1,000,000 has been withheld by Arrow pending a closing audit and adjustments. The sale proceeds have been used by Zeus to repay its bank debt in the amount of approximately $6,000,000 and to provide working capital and capital for expansion to its two remaining operating subsidiaries, Omnirel Corporation, a manufacturer of high reliability power semiconductor components and multi-chip modules, and Transition Analysis of Component Technologies, Inc. ("TACTech"), which owns, develops and licenses database and related software packages to users of high reliability semiconductors.
 Pending a determination regarding the future investment of such funds, the remaining proceeds will be invested in short term liquid assets. The Company from time to time may purchase or redeem all or a portion of the Company's 12-1/4 percent Subordinated Notes.
 Pursuant to the terms of the Agreement with Arrow, Zeus may receive up to an additional $2,000,000 of purchase price in 1996 depending upon the future sales achieved by Arrow of high reliability electronic components (including the business formerly conducted by Zeus).
 Pursuant to the terms of the Agreement, Zeus will change its name, prior to June 18, 1993, from "Zeus Components, Inc." to "Zing Technologies Inc." Its new NASDAQ symbol will be "ZING." Furthermore, pursuant to the Agreement, Zeus is required to relocate its executive offices, currently located at 100 Midland Avenue, Port Chester, New York, to an as yet undetermined location within the next 90 days.
 -0- 5/19/93
 /CONTACT: Martin S. Fawer, Treasurer and Chief Financial Officer, Zeus Components, Inc., 914-937-7400/
 (ZEUS ARW)


CO: Zeus Components, Inc.; Arrow Electronics, Inc. ST: New York IN: CPR SU: TNM

JG -- DE021 -- 0404 05/19/93 15:23 EDT
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Date:May 19, 1993
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