Avnet, Inc. Completes Acquisition of Ontrack Solutions Pvt. Ltd.

Establishes Value Added IT Solutions Business in India
PHOENIX--(Business Wire)--
Avnet, Inc. (NYSE:AVT) today announced it has completed its
acquisition of Ontrack Solutions Pvt. Ltd. (Ontrack) of India. A
Mumbai-based systems integrator established in 1993, Ontrack is known
in the market as a leader in security, networking, consolidation,
virtualization, storage and server solutions. Ontrack will become part
of the operations of Avnet Technology Solutions Asia Pacific. The
transaction is expected to be slightly accretive to earnings
immediately, excluding minimal integration charges, and supports
Avnet's return on capital goals.

John Paget, global president of Avnet Technology Solutions
commented, "This acquisition gives us a solid starting point to build
our business in one of the fastest growing IT markets in Asia. The
current owners, G. Balakrishnan and Naresh Desai, will lead the local
Avnet Technology Solutions team as we continue to invest in profitable
growth. We will leverage the skills and multi location footprint of
Ontrack to build a leading value-added solutions distribution business
throughout India."

Ontrack markets a portfolio of IT solutions from leading suppliers
including IBM and HP, as well as software solutions from VMware,
Citrix, DoubleTake, CheckPoint, Nokia, Websense, and RSA. For the
fiscal year ended March 31, 2008, Ontrack's services revenue was
approximately US$13 million.

KP Tang, president of Avnet Technology Solutions Asia Pacific,
added, "The acquisition of Ontrack supports our strategy to expand our
value-added IT distribution model into new high growth geographies in
the Asia Pacific region. The combination of Ontrack's focus on
technical value-added services and Avnet's scale and scope as a global
distributor will enhance our value proposition in the important India
IT market while accelerating our growth in the region."

Forward-looking statements

This press release includes certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements relate to future business and/or financial
success or the business outlook and represent the Company's judgment
as of the date of this release. Risk and uncertainties that may
materially affect the actual results are described from time to time
in Avnet's SEC filings, including the Company's reports on Form 10-K,
Form 10-Q and Current Reports on 8-K.

About Avnet

Avnet, Inc. (NYSE:AVT) is one of the largest distributors of
electronic components, computer products and technology services and
solutions with more than 300 locations serving more than 70 countries
worldwide. The company markets, distributes and optimizes the
supply-chain and provides design-chain services for the products of
the world's leading electronic component suppliers, enterprise
computer manufacturers and embedded subsystem providers. Avnet brings
a breadth and depth of capabilities, such as maximizing inventory
efficiency, managing logistics, assembling products and providing
engineering design assistance for its 100,000 customers, accelerating
their growth through cost-effective, value-added services and
solutions. For the fiscal year ended June 30, 2007, Avnet generated
revenue of $15.68 billion.

For more information, visit www.avnet.com. (AVT_IR)

Media Contact - Avnet Technology Solutions, Asia:
Michael Costigan
Director, Marketing
T. +612 8877 0751
M. +614 0865 1467
michael.costigan@avnet.com
or
Media Contact - Avnet, Inc.:
Michelle Gorel
Vice President, Public Relations
(480) 643-7653
michelle.gorel@avnet.com
or
Investor Relations Contact:
Vincent Keenan
Vice President, Investor Relations
(480) 643-7053
vincent.keenan@avnet.com

Copyright Business Wire 2008