1
                                                                    EXHIBIT 99.1

                           ARROW ELECTRONICS PROVIDES

                         NEW GUIDANCE FOR FIRST QUARTER

FOR IMMEDIATE RELEASE

MELVILLE, NEW YORK, March 20, 2001 -- Arrow Electronics, Inc., (NYSE:ARW) today
announced that revenues for the first quarter of 2001 will be lower than
anticipated as a result of the well-documented slowdown currently being
experienced in certain sectors of the company's customer base.

"We said in early February that we had seen some significant cancellations and
rescheduling of orders among the large telecom and networking companies and
their contract manufacturing partners," said Francis M. Scricco, President and
Chief Executive Officer of Arrow. "The fall-off in business with these customers
has deepened dramatically over the last four weeks. This, coupled with weaker
economic conditions generally, has caused us to revise our estimates for the
first quarter," he added.

"Although we expect our first quarter revenues to be up over last year's first
quarter by 20%, we believe there will be a sequential decline of 10% to 15%
from our reported fourth quarter sales level," Mr. Scricco said.

Earnings per share for the first quarter are expected to be in the range of
$.74 to $.80 cents, versus $.65 in last year's March quarter and $1.09 in the
December quarter, before giving effect to the impact of the recently-completed
sale of zero coupon convertible debentures and the anticipated one-time
   2
special charge, not expected to be in excess of $10 million on a pre-tax basis,
associated with the acquisition and integration of Wyle Electronics.

Arrow Electronics is the world's largest distributor of electronic components
and computer products, with 2000 sales of $13 billion. Headquartered in
Melville, New York, Arrow serves as a supply channel partner for more than 650
suppliers and 200,000 original equipment manufacturers, contract manufacturers,
and commercial customers through more than 225 sales facilities and 20
distribution centers in 39 countries. Detailed information about Arrow's
operations can be found at www.arrow.com.

                                     # # #

Contact:  Robert E. Klatell
          Executive Vice President
          516-391-1300



The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. This press release contains forward-looking
statements that are subject to certain risks and uncertainties which could cause
actual results or facts to differ materially from such statements for a variety
of reasons including, but not limited to: industry conditions, changes in
product supply, pricing, and customer demand, competition, other vagaries in the
computer and electronic components markets, changes in  relationships with key
suppliers, and the other risks described from time to time in the company's
reports to the Securities and Exchange Commission (including the company's
Annual Report on Form 10-K). Shareholders and other readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date on which they are made. The company undertakes no obligation to update
publicly or revise any forward-looking statements.