ARROW ELECTRONICS, INC. — Director's Dealing 2004

May 17, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW ELECTRONICS INC (ARW)
CIK: 0000007536
Period of Report: 2004-05-15

Reporting Person: HANSON JOHN NILS (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-15	Phantom Stock	$	A	194.9318	Acquired		Common Stock (194.9318)	Direct

Footnotes

F1: Phantom stock units issued under the Arrow Electronics, Inc. 2002 Non-Employee Directors Deferral Plan convert to common stock on a 1-for-1 basis, following termination of services as a Director, the occurrence of an unforeseeable emergency or a change in control as defined in the Plan.