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Avnet, Inc. Announces Acquisition of Market Leading Value Added Distribution Company DNS Slovakia

Aug 8, 2004

Budapest, Hungary -- Avnet, Inc. (NYSE:AVT) today announced it has acquired DNS Slovakia, one of the leading Value Added Distribution companies in Slovakia, expanding Avnet's ability to provide services and solutions for value added resellers (VARs) and System Integrators in the country. DNS Slovakia will become a part of Avnet Partner Solutions, an Avnet division and value-added distributor in Europe. This move demonstrates Avnet's ongoing commitment to invest in the rising Information and Communications Technology (ICT) markets and how it is strenghtening its presence in Central and Eastern Europe. Expanding into Slovakia establishes Avnet Partner Solutions in all the Visegrad Group (V4) countries - the Czech Republic, Hungary, Poland and Slovakia - enhancing strategic market opportunities for Avnet partners and customers alike.

Through the acquisition, DNS Slovakia becomes a member of Avnet's international network of business operations, gaining access to Avnet resources in order to provide more efficient services and more flexible solutions. The Open System, Networking  and Security Divisions of DNS Slovakia enables Avnet Partner Solutions to offer the complete range of HP 9000 UX servers, HP UX W/S, HP OV, P, X class W/S, UX Storage, portfolio of SUN Microsystems HW and SW products and the whole portfolio of Cisco Systems and complex group of security products. Besides the accordant hardware and software platforms, value-added distribution of IBM Systems and Solutions is also expected to start through Avnet Partner Solutions in Slovakia.

"Customer satisfaction means we deliver growth in our customers' businesses as well as provide superior service, and for this reason we looked for a partner who delivers productivity and business value," said Janos Kurel, Vice-President/General Manager, Eastern Region of Avnet Partner Solutions. "Avnet's unmatched value-added services and financial strength in combination with the local knowledge of DNS Slovakia gives us a real competititve advantage to serve the needs of customers. With this acquisition Avnet is present in the V4 countries, four countries with similar economic environments and infrastructure, and which, since May 1, 2004, are all member states of the European Union."

"The desire of the management of DNS to continue to increase the quality of customer services and profitable growth of the company led to the decision to join forces with one of worldwide distributors," said Branislav Sebo, General Manager of DNS Slovakia. We negotiated potential acquisition with four potential strategic investors. Avnet was logically the best match. Their financial strength, technology resources and similar distribution strategy, combined with our excellent know how of local market, highly skilled team of people and long term relationship with all major business partners in Slovakia, provide unbeatable argument for future customer success."

About Avnet

Avnet Partner Solutions ( www.ps.avnet.com ) is an industry leading, value-added distributor of enterprise computing systems, software, storage, networking solutions and services, marketing exclusively to the value-added reseller channel. With European offices in Austria, Belgium, Czech Republic, Germany, Hungary, Italy, Poland, Slovakia, Switzerland and the United Kingdom, Avnet Partner Solutions is a division of the $4 billion Avnet Technology Solutions operating group of Avnet, Inc. (NYSE: AVT). 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 $9B in revenue in fiscal 2003 (year ended June 27, 2003) through sales in 68 countries Visit http://www.avnet.com/

Press Contact: Janos Kurel
Avnet, Inc.
Phone: +36-1-487-6164
e-mail: Janos.Kurel@Avnet.com