Avnet Rises to No. 163 on Fortune 500

PHOENIX -- Avnet, Inc., (NYSE:AVT) a global technology distribution and services company, climbed nine places to No. 163 on the annual Fortune 500 list of America’s largest corporations. With $15.68 billion in sales in fiscal 2007, Avnet was also ranked second among companies based in its home state – Arizona.

“Being recognized in the Fortune 500 reflects the remarkable contributions of our employees in helping Avnet become the premier technology marketing, distribution and services company in the world,” said Roy Vallee, Avnet chairman and CEO. ”Our team consistently finds innovative ways to accelerate the success of our business partners and the growth of Avnet.”

Avnet debuted on the Fortune 500 in 1968, placing 467th with revenue just over $146 million. In March 2008, Avnet was also named to Fortune magazine’s list of “America’s Most Admired Companies,” garnering the number two spot in the Electronics Wholesaler category based on a survey of executives, directors, and analysts. Firms are rated on innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, and quality of products and services. For more information about the Fortune list of “America’s Most Admired Companies,” visit http://www.fortune.com.