ARROW ELECTRONICS, INC. — Director's Dealing 2004

Feb 6, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: ARROW ELECTRONICS INC (ARW)
CIK: 0000007536
Period of Report: 2003-12-31

Reporting Person: SCHEIHING BETTY JANE (Senior Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5392	Indirect
Common Stock	19400	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Benefit Plan Stock Option	$20.9375	2006-02-13	Common Stock (15000)	15000	Direct
Employee Benefit Plan Stock Option	$26.0625	2006-12-13	Common Stock (20000)	20000	Direct
Employee Benefit Plan Stock Option	$30.8438	2007-09-04	Common Stock (30000)	30000	Direct
Employee Benefit Plan Stock Option	$32.25	2007-12-18	Common Stock (12500)	12500	Direct
Employee Benefit Plan Stock Option	$20.3750	2009-12-15	Common Stock (12500)	12500	Direct
Employee Benefit Plan Stock Option	$25.85	2011-02-21	Common Stock (12500)	12500	Direct
Employee Benefit Plan Stock Option	$26.45	2012-02-27	Common Stock (23500)	23500	Direct
Employee Benefit Plan Stock Option	$13.85	2013-02-27	Common Stock (12500)	12500	Direct

Footnotes

F1: Held in the Company's Employee Stock Ownership Plan. Based on the Employee Stock Ownership Plan Statement of Account as of December 31, 2002 and transactions occurring during 2003.

F2: Includes shares subject to the vesting provisions of the Arrow Electronics, Inc. Restricted Stock Plan.

F3: Right to buy granted under the Arrow Electronics, Inc. Stock Option Plan.