ARROW ELECTRONICS, INC. — Director's Dealing 2004

Feb 27, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ARROW ELECTRONICS INC (ARW)
CIK: 0000007536
Period of Report: 2004-01-01

Reporting Person: FANELLI GERMANO (Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	28000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Benefit Plan Stock Option	$17.00	2004-12-15	Common Stock (10000)		Direct
Employee Benefit Plan Stock Option	$20.9375	2006-02-13	Common Stock (10000)		Direct
Employee Benefit Plan Stock Option	$26.0625	2006-12-13	Common Stock (15000)		Direct
Employee Benefit Plan Stock Option	$32.25	2007-12-18	Common Stock (7500)		Direct
Employee Benefit Plan Stock Option	$15.4375	2009-03-03	Common Stock (7500)		Direct
Employee Benefit Plan Stock Option	$20.375	2009-12-15	Common Stock (10000)		Direct
Employee Benefit Plan Stock Option	$25.85	2011-02-21	Common Stock (10000)		Direct
Employee Benefit Plan Stock Option	$26.45	2012-02-27	Common Stock (10000)		Direct
Employee Benefit Plan Stock Option	$13.85	2013-02-27	Common Stock (10000)		Direct

Footnotes

F1: Includes shares subject to the vesting provisions of the Arrow Electronics, Inc. Restricted Stock Plan.

F2: Right to buy granted under the Arrow Electronics, Inc. Stock Option Plan.