Avnet Announces Ratings Upgraded To Investment Grade by Moody's Investors Service

PHOENIX--(Business Wire)--
Avnet, Inc. (NYSE: AVT) today announced that Moody's Investors
Service raised the corporate family and senior unsecured ratings of
Avnet, Inc. to Baa3 from Ba1 with a stable outlook. In its report,
released on February 22, 2008, Moody's cited, "The upgrade considers
the solid execution, operating efficiency improvements, and working
capital management resulting in operating margin and ROA expansion,
improved credit protection measures, higher gross cash flow levels and
an enhanced business model that has the propensity to deliver
consistent levels of positive free cash flow especially during periods
of industry weakness."

Commenting on the Moody's upgrade, Roy Vallee, chairman and chief
executive officer of Avnet said, "This upgrade reflects the strong
market and financial position that Avnet occupies as a result of our
value based management initiatives. Over the past several years we
have grown organically faster than the markets we serve, extended our
product and geographic coverage and completed several major
acquisitions while consistently increasing both operating margins and
return on capital. Our strategy is to maintain investment grade credit
statistics and our balance sheet is stronger than it has been in
years. When combined with our market leading position this should
allow us to continue to fund future growth and shareholder value
creation."

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 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)

Avnet, Inc., Phoenix
Investor Relations
Vincent Keenan, 480-643-7053
investorrelations@avnet.com

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