November 8, 2004 - Avnet Ranks No. 3 Among S&P 400 in Corporate Governance

PHOENIX -- Company Outperforms Most of Standard & Poor's 400 for Third Year in a Row

Avnet Inc. (NYSE:AVT) outperformed more than 99.2 percent of Standard & Poor's 400 companies, ranking No. 3, in the most recent corporate governance rankings prepared by Institutional Shareholders Services (ISS). Additionally, Avnet outperformed 99.8 percent of companies in the technology hardware and equipment category within the Russell 3000 list of the largest U.S. stocks by market capitalization.
   
Since ISS began rating companies' corporate governance efforts in 2002, Avnet has consistently scored highly among all companies evaluated.
   
"Avnet's outstanding performance in the ISS rankings for three years running is testament to the emphasis placed on best practices in corporate governance," said Roy Vallee, Avnet chairman and CEO. "Yet Avnet is not content to sit back, but will continue to examine and implement practices to ensure Avnet maintains excellent corporate governance standards and the confidence of its shareholders, employees, customers and suppliers."
   
ISS compiles data for its Corporate Governance Quotient by measuring 55 factors within eight key categories including board and committee structure and composition; executive and director compensation; progressive practices such as board self-assessments and whether executive sessions are held by non-employee directors; director and officer stock ownership; and director education.
   
"Avnet's board of directors plays a pivotal role in Avnet's governance and success," Vallee said. "Its members have an impressive breadth of expertise in many industries and are a tremendous asset to the company."

About Avnet
Avnet enables success from the center of the technology industry, providing cost-effective services and solutions vital to a broad base of more than 100,000 customers and 250 suppliers. The company markets, distributes and adds value to a wide variety of electronic components, enterprise computer products and embedded subsystems. Through its premier market position, Avnet brings a breadth and depth of capabilities that help its trading partners accelerate growth and realize cost efficiencies. Avnet generated more than $10 billion in revenue in fiscal 2004 (year ended July 3, 2004) through sales in 68 countries. Visit www.avnet.com/.

CONTACT:
Avnet Inc.
Jan Jurcy, 480-643-7642
Vice President, Public Relations