Savoir Technology Group, Inc. Announces Shareholder Approval of Avnet Merger

Business Wire, June 30, 2000

Business Editors/High-tech Writers

CAMPBELL, Calif.--(BUSINESS WIRE)--June 30, 2000

Savoir Technology Group, Inc. (Nasdaq National Market:SVTG), the leading IBM mid-range distributor in the Americas, today announced that Savoir Technology Group shareholders have approved the proposed merger with Avnet, Inc., at yesterday's Special Meeting of Shareholders.

The transaction is expected to close early in July, subject to the terms of the agreement between the companies.

About Savoir Technology Group Inc.

Savoir Technology Group, Inc. is a leading provider of midrange servers, software, storage, services and other high technology products to a large network of Resellers, Solution Providers and OEMs.

The company is organized around five business units: IBM, where it is the largest distributor of IBM midrange system products in the United States, Canada and Mexico; Storage products; Wireless products from suppliers such as Aironet and Telxon; Custom contract manufacturing and Intel based systems. Savoir Technology Group is considered an industry leader in providing key value-added services to its customer base including lease options, technical and configuration support, marketing, and a host of e-business initiatives aimed at helping resellers grow their businesses.

Savoir Technology Group, Inc. formerly operated its IBM distribution business under the subsidiary named Business Partner Solutions, Inc. Corporate offices are in Campbell, California, and Operating Headquarters are located in San Antonio, Texas.

Savoir Technology Group, Inc. is traded publicly on NASDAQ under the symbol SVTG. For more information, visit the Savoir Technology Group web site at www.svtg.com.

About Avnet Inc.

Avnet, Inc. is one of the world's largest distributors of semiconductors, interconnect, passive and electromechanical components and computer products from leading manufacturers. Serving customers in 60 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain management and engineering design services. A Fortune 300 company, Avnet's sales for fiscal year 1999 (year ended July 2, 1999) were $6.35 billion, with a pro forma of over $10 billion, including acquisitions closed during fiscal year 2000. The Company's web site is located at www.avnet.com.

Savoir Technology Group and the Savoir Technology Group logo are trademarks of Savoir Technology Group, Inc. All other company and/or product names are respective property of their prospective holders and should be treated as such.

When included in this news release, the words "expects," "intends, "anticipates," "plans," "projects" and "estimates," and analogous or similar expressions, are intended to identify forward-looking statements. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those reflected in such forward-looking statements. In particular, closing of Savoir Technology Group, Inc.'s merger with Avnet is subject to satisfaction of the terms of the merger agreement between the parties. These forward-looking statements speak only as of the date of this news release. The company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any changes in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.