Exhibit 99.1

    Arrow Electronics Continues to Improve Operating Efficiencies;
             Anticipates Savings of $25 Million Per Year

    MELVILLE, N.Y.--(BUSINESS WIRE)--May 28, 2003--Arrow Electronics,
Inc. (NYSE:ARW) today announced that it is continuing to take actions
to increase its operational and organizational efficiencies. These
actions, across multiple locations and functions, will eliminate
approximately 400 jobs (approximately 3 percent of the company's
global work force) and will include a further rationalization of the
company's physical logistics network. The company will realize
approximately $25 million of annual operating expense savings, with
the majority of the expense reduction being realized at the beginning
of the third quarter of 2003. The company will record restructuring
charges of between $12 million and $15 million in connection with
these actions and expects that about half of the charges will be
included in its second quarter results.
    "It is unfortunate that our decisions require the elimination of
employee positions, but we must continue to identify opportunities to
operate more efficiently and, at the same time, enhance our ability to
meet the needs of our customers and suppliers," said William E.
Mitchell, President and Chief Executive Officer of Arrow. "This is an
evolutionary process that is critical to the success of Arrow and
those who depend on us."
    Included in the actions being taken by the company will be the
merger of the Global Information Business ("GIB") into Arrow's
existing worldwide components businesses and the reduction of certain
GIB offerings. "The information and services developed by GIB have
proven to be of benefit to both our customers and to Arrow," said Mr.
Mitchell, "but today the market served by GIB is not large enough to
economically support this business as a separate entity."
    Arrow Electronics is one of the world's largest distributors of
electronic components and computer products and a leading provider of
services to the electronics industry. Headquartered in Melville, New
York, Arrow serves as a supply channel partner for more than 600
suppliers and over 150,000 original equipment manufacturers, contract
manufacturers, and commercial customers through more than 190 sales
facilities and 21 distribution centers in 40 countries. Detailed
information about Arrow's operations can be found at www.arrow.com.

    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 are 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.

    CONTACT: Arrow Electronics, Inc.
             Investor Relations:
             Robert E. Klatell
             Executive Vice President
             631/847-1830
             or
             Eileen M. O'Connor
             Vice President, Investor Relations
             631/847-5740
             or
             Public Relations:
             Maria Neder
             Manager, Public Relations
             631/847-5467