ARROW ELECTRONICS, INC. — Director's Dealing 2003

May 16, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW ELECTRONICS INC (ARW)
CIK: 0000007536
Period of Report: 2003-05-16

Reporting Person: PERRY BARRY W (Director)

Footnotes

F1: 1 for 1

F2: Issued under the Arrow Electronics Inc. 2002 Non-Employee Directors Deferral Plan and settled by issuance of Common Stock following termination of services as a Director, the occurence of an unforeseeable emergency or a change in control as defined in the Plan.

F3: 31,000 derivative securities reported as beneficially owned on Form 4 filed February 14, 2003 remain beneficially owned as of this filing. They do not appear on Table II due to a temporary electronic filing limitation.