NSW:Anti-mining protesters arrested at rally

AAP General News (Australia)
08-18-2011
NSW:Anti-mining protesters arrested at rally

SYDNEY, Aug 18 AAP - Two protesters have abseiled off a balcony outside a luxury hotel
in Sydney's CBD and unfurled an anti-coal seam gas mining banner.

The stunt at lunchtime came after a group of about 16 activists gatecrashed the NSW
Minerals Exploration and Investment conference inside the Sofitel Wentworth Sydney hotel
on Thursday.

They lined up in front of the stage, holding up anti coal seam gas banners and trading
insults with the gathering, until police intervened.

About 50 farmers and people from rural communities stood across the street from the
hotel to take part in a rally at 12pm (AEST).

Greens councillor Max Phillips said mining companies had been granted licences to conduct
coal seam gas exploration across as much as 25 per cent of the state.

"It's widespread," he told AAP.

"From Casino and the northern rivers through to Moree Plains, the Pilliga, Liverpool
Plains, down the Hunter."

Approval had also been given for coal seam gas exploration in the Illawarra escarpment,
Camden and Sydney, he added.

Farmer Ted Finnie said oil and gas exploration company Santos had been granted a licence
on his 576 hectare property on the Merriwa Plateau in the Upper Hunter.

But there's no way he will agree to coal seam gas mining.

"They are certainly indicating they will be drilling, but they will not be getting
onto my place," Mr Finnie said.

"Over my dead body."

Rosemary Nankivell from Liverpool Plains said the physical impacts of coal seam gas
mining included ground water depletion and contamination of aquifers.

She visited Santos chairman Peter Coates in February.

"We asked them to give us a written guarantee, that they would not impact on the farming
activities of the Liverpool Plains and our water resources underneath," she told the rally.

"We are still waiting."

During the speeches, a man and a woman dressed in a business suit, climbed over the
balcony of the Sofitel Wentworth Hotel and unfurled a banner emblazoned with a large stop
sign and the words: "Enough is Enough: Stop coal and gas expansion".

A police rescue van pulled up with a ladder and an officer attempted to coax the pair
down a short time later.

They avoided him by climbing back up to the balcony, only to be met by several police
officers who arrested them.

AAP bc/tr/nb

KEYWORD: MINING PROTEST UPDATE

� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.

Fed: Conservative columnist wrote speeches for Downer: report

AAP General News (Australia)
02-22-2007
Fed: Conservative columnist wrote speeches for Downer: report

MELBOURNE, Feb 22 AAP - A conservative News Limited columnist was paid more than $11,000
of taxpayers' money to write speeches for Foreign Minister Alexander Downer.

The Department of Foreign Affairs and Trade (DFAT) outsourced several ministerial speeches,
including a July 2005 address to the Hillsong Church in Sydney, to a recruitment firm
that engaged columnist Christopher Pearson to write them, Fairfax newspapers reported
today.

Mr Pearson was paid $11,364 by the government for the speeches.

Other speeches written for Mr …

NSW:Villawood detainees demand freedom

AAP General News (Australia)
04-21-2011
NSW:Villawood detainees demand freedom

By Danielle McGrane

SYDNEY, April 21 AAP - A group of detainees on the roof of Sydney's Villawood Detention
Centre are demanding their freedom in return for ending their protest.

Speaking by mobile phone to Social Justice Network spokesman Jamal Daoud, one Iranian
detainee said he had been in the centre for 20 months.

"I'm not an animal, I'm human. I've been in the detention centre for 20 months," he
said on speakerphone on Thursday.

"I don't have a criminal record. We're put in prison just for freedom."

The man, named as Majid, said he would come down when he got freedom.

"Give me freedom and I'll come down," he said.

Mr Daoud said the detainees, who are protesting their incarceration and claim they
haven't seen any paperwork on their residency applications, want to meet with the immigration
department.

Mr Daoud claimed one detainee had tried to commit suicide in Villawood on Wednesday.

Another detainee, named as Melad, who is from Iraq, said the group of about seven men
had been "left with no other option" but to protest.

He confirmed reports a detainee had thrown a roof tile at fire crews as they battled
a blaze at the centre overnight.

"There was just one detainee that threw tiles," he said.

"What crime did we do to stay in the detention centre?"

Mr Daoud said the detainees had complained that firefighters were pouring water on them.

Melad said he had been in the centre for 11 months.

The protest at the centre was triggered after two men climbed onto the roof of the
main centre early on Wednesday.

They were soon joined by 11 others and by midnight up to 100 people were involved,
vandalising and setting fire to buildings.

An oxygen cylinder was torched leading to an explosion shortly after 2am (AEST) on Thursday.

AAP dmg/klm/jnb/apm

KEYWORD: DETAINEE DEMAND

� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.

FED:Economists expect RBA to sit pat on rates

AAP General News (Australia)
02-01-2011
FED:Economists expect RBA to sit pat on rates

Reserve Bank governor GLENN STEVENS gets his first chance to express his thoughts on
the floods this week .. and what impact they'll have on interest rates.

The central bank today holds its first board meeting since December .. and releases
its quarterly monetary policy statement on Friday.

Economists widely expect the official cash rate to remain unchanged at 4.75 per cent.

JP Morgan chief economist STEPHEN WALTERS says the chances of a near-term rate hike
were snuffed out by both the devastating floods .. and by last week's CPI result.

AAP RTV cb/sb/af/psm/

KEYWORD: ECONOMY (CANBERRA)

� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.

NSW:Flooding to save Murray red gums

AAP General News (Australia)
08-24-2010
NSW:Flooding to save Murray red gums

The NSW government says an endangered red gum forest along the Murray river will be
flooded every three to four years .. to ensure at least a third of it remains healthy.

Planning Minister TONY KELLY's announced managed flooding of more than 16 thousand
hectares of the Koondrook-Perricoota Forest south of Deniliquin .. to save the trees and
help birds and fish breeding.

A new channel will be dug to divert water from the Murray to the forest.

AAP RTV bc/wjf/jmt

KEYWORD: GUMS (SYDNEY)

� 2010 AAP Information Services Pty Limited (AAP) or its Licensors.

Qld: Fresh dengue fever outbreak in Townsville

AAP General News (Australia)
04-16-2010
Qld: Fresh dengue fever outbreak in Townsville

A new outbreak of dengue fever has hit Townsville.

Queensland Health's confirmed two women .. from the suburbs of North Ward and Deeragun
.. have been diagnosed with type two of the dengue virus.

They're the first locally acquired cases in the city since December.

Queensland Health's Dr STEVEN DONOHUE says given the 10 kilometre distance between
the two cases it's likely more will come to light.

He says one of the women's recovered and the other's still being treated.

AAP RTV pjo/af

KEYWORD: DENGUE (TOWNSVILLE)

2010 AAP Information Services Pty Limited (AAP) or its Licensors.

Failed CPRS an opportunity to get design right, business =4

AAP General News (Australia)
12-02-2009
Failed CPRS an opportunity to get design right, business =4

The Australian Industry Group (Ai Group) said the failure of the Senate to pass the
CPRS would "prolong, if not compound" the uncertainty for business.

"While it is good to let tempers cool and allow time for clear thought, Ai Group expressed
support for the amended bill and its failure to pass through the parliament leaves this
important policy issue unresolved," the group's chief executive Heather Ridout said in
a statement.

The Ai Group supports a market-based approach to climate change as a means of reducing
emissions at the lowest possible overall cost to the economy.

"Departures from this principle will impose unnecessary costs on the Australian community,"

Mrs Ridout said.

"One of the major risks of the failure of the CPRS is the threat of the further proliferation
of uncoordinated and costly regulatory interventions by federal and state governments
in the name of emissions reduction and energy efficiency."

The government said on Wednesday it would be reintroducing the CPRS legislation for
a third time when parliament resumes in February, including the amendments it negotiated
with the former leadership of the Liberal party.

Mrs Ridout said it was even more imperative that the education effort for business
started sooner rather than later.

"For this reason the Climate Change Action Fund should not be put on hold even though
the direction of climate policy is now uncertain,' she said.

"Ai Group will also continue to argue for an approach to climate policy that recognises
and addresses the threats to our trade exposed industries which would face costs that
are not imposed in other countries."

AAP cb/sb/bwl

KEYWORD: CLIMATE BUSINESS 4 CANBERRA

2009 AAP Information Services Pty Limited (AAP) or its Licensors.

Qld: 62yo Brisbane man charged with attempted murder

AAP General News (Australia)
04-25-2009
Qld: 62yo Brisbane man charged with attempted murder

BRISBANE, April 25 AAP - A 62-year-old man has been charged with the attempted murder
of a woman in Brisbane.

Police found the 38-year-old woman, who had been stabbed in the stomach, when they
were called to a domestic disturbance at a Kenmore Hills home at about 3pm (AEST) on Friday.

The woman was taken to Royal Brisbane Hospital, where she remains in a stable condition.

The man will appear in Brisbane Magistrates Court on Saturday.

AAP ahe/apm

KEYWORD: DOMESTIC

2009 AAP Information Services Pty Limited (AAP) or its Licensors.

0200 2GB HEADLINES

AAP General News (Australia)
12-20-2008
0200 2GB HEADLINES

- After many weeks of debate American car makers have been given a lifeline.

- Police investigating assaults at an exclusive Bathurst school are expected to charge
more people.

- A list of priority infrastructure projects has been unveiled but we're being told
not to expect all 94 to go ahead.

- Frustrated bus commuters are being promised better services.

- Budget constraints could impact on child protection services.

- Police have been asked to look into claims a juror in a trial was followed.

- Alan Jones is recovering in hospital after an operation to remove a brain tumour.

AAP RTV fdf

KEYWORD: 0200 2GB (SYDNEY)

2008 AAP Information Services Pty Limited (AAP) or its Licensors.

Qld: Govt rules out help for Patel patients to attend court

AAP General News (Australia)
08-14-2008
Qld: Govt rules out help for Patel patients to attend court

The Queensland government has ruled out financial assistance to former patients of
Dr JAYANT PATEL .. who want to travel to Brisbane for his court proceedings.

PATEL faces 14 charges .. including three of manslaughter .. from his time as a surgeon
at the Bundaberg Base Hospital in the state's south-east.

The Bundaberg Burnett Patient Support Group has asked the government to pay the travel
and accommodation costs for two former patients to attend future proceedings.

Premier ANNA BLIGH's today ruled out assistance for patients who aren't witnesses in the case.

However Ms BLIGH says they will be offered personal assistance by a dedicated court
support officer .. who's been designated to work with all of the former patients who have
an interest in the case.

AAP RTV gd/stg/af/wz

KEYWORD: PATEL (BRISBANE)

2008 AAP Information Services Pty Limited (AAP) or its Licensors.

Vic: Man arrested after knife hold-up

AAP General News (Australia)
04-06-2008
Vic: Man arrested after knife hold-up

A 23-year-old man's been arrested after allegedly robbing another man getting into
his car at Sunshine .. in Melbourne's west.

Police say the man was armed with a knife when he robbed the 36 year old man at a service
station at about 7.40 (AEDT) last night.

They say the robber demanded the man's wallet and mobile phone .. however .. a friend
of the offender made him hand the goods back to the victim .. who then called police.

When police arrived they arrested a man .. who will face court next week charged with
armed robbery.

AAP RTV jxt/jec/

KEYWORD: KNIFE (MELBOURNE)

2008 AAP Information Services Pty Limited (AAP) or its Licensors.

WA: Firefighter's "foolish" plot to avoid blaze blame

AAP General News (Australia)
12-03-2007
WA: Firefighter's "foolish" plot to avoid blaze blame

By Nicolas Perpitch

PERTH, Dec 3 AAP - A volunteer firefighter "foolishly" sought to dispel rumours he
was deliberately lighting bushfires in his callout zone by lighting several outside the
area, a Perth court has been told.

Christopher William Robert Spooner, 21, of Glen Forrest, is on trial in the Western
Australian District Court accused of wilfully lighting seven fires in the Perth Hills
area between September and November 2005.

He has been charged under the WA Bushfires Act, where it must be proved the fires were
likely to injure people or property.

During opening submissions today, Spooner's lawyer Tom Percy QC said his client admitted
lighting three fires which occurred outside his Darlington Volunteer Bushfire Brigade's
area of responsibility.

But Spooner denies he lit the first four fires within the brigade's zone.

Mr Percy told the court the three "low risk" fires Spooner did light were not likely
to cause damage to people or property and he was therefore not guilty.

"He did light those fires .. they were readily detected, they were easily extinguished
and no damage was done," Mr Percy told the court.

Mr Percy said there were rumours Spooner had lit the first four fires because he was
unemployed and was always first on the scene of a breakout.

"The rumours were to the effect that he was lighting the fires so he could justify
his existence and go down there and put them out," he said.

"In an attempt to dispel that, he thought it might be useful, might deflect attention
from him to light fires in (an adjoining zone).

"Spooner thought by lighting three fires in the Glen Forrest zone people would not
think he was starting the blazes to keep himself busy," Mr Percy said.

"Of course his reasoning was foolish and he accepts that."

Mr Percy did not contest prosecutor John Foulsham's contention Spooner admitted to
police he had lit all seven fires, but said his client had been "overwhelmed" by his arrest
and "took the path of least resistance".

Mr Foulsham said the fires "could have easily caused severe damage to persons and or property".

The trial continues.

AAP np/sp

KEYWORD: SPOONER

2007 AAP Information Services Pty Limited (AAP) or its Licensors.

Fed: Super advice did hurt hip pocket says High Court

AAP General News (Australia)
04-20-2007
Fed: Super advice did hurt hip pocket says High Court

By Peter Veness

CANBERRA, April 20 AAP - The High Court has upheld a decision that a Canberra man was
financially disadvantaged by superannuation advice given to him by his boss in 1965.

John Griffith Cornwell was working part-time as a spray painter at a Canberra bus depot
when his manager Nelson Simpson allegedly told him he was not entitled to join a super
fund because he was only working part-time.

On March 6, 2005, the ACT Supreme Court found the commonwealth was negligent because
of the advice Mr Simpson had allegedly offered.

The federal government appealed to the High Court but today the court voted down the appeal 6-1.

Had Mr Cornwell joined the super fund in 1965, he would have been entitled, after 29
years of contributions, to a pension of 44.1 per cent of his final salary.

But because he did not join a fund until he was given full-time employment in 1987,
Mr Cornwell had only seven years' contributions which entitled him to a pension of just
12.6 per cent of his final salary.

The commonwealth argued in its appeal that Mr Cornwell had failed to act on the negligence
within the required six years because the loss had been suffered in 1976, not 1994 when
he retired.

But the court rejected the argument, saying the loss only became real when Mr Cornwell
had access to his superannuation when he retired.

In the only dissenting judgment, Justice Ian Callinan there were too many variables
in Mr Cornwell's claim for it to be upheld.

AAP pv/mfh/cjh/bwl

KEYWORD: CORNWELL

2007 AAP Information Services Pty Limited (AAP) or its Licensors.

ACT: Gov't and senior bureaucrats knew of looming firestorm

AAP General News (Australia)
12-19-2006
ACT: Gov't and senior bureaucrats knew of looming firestorm

A member of the Emergency Services Bureau .. criticised in the coroner's findings on
the 2003 fatal bushfires in the ACT .. has attacked the report.. saying it's easy to be
blinded by the wisdom of hindsight.

Coroner MARIA DOOGAN said this morning .. the ACT cabinet and senior firefighters knew
a disaster was loomingthat two days before Canberra's western suburbs were engulfed by
the firestorm .. but did nothing to warn residents.

Mrs DOOGAN named the bureau's MIKE CASTLE .. PETER LUCAS-SMITH .. TONY GRAHAM and RICK
MCRAE .. as among those who didn't act.

But Mr CASTLE says decisions were made in good faith by very experienced personnel
.. based on was known at the time .. not on what ultimately occurred.







Mr LUCAS-SMITH has also issued a short statement .. offering his condolences to the
families of the four people who died in the firestorm.

AAP RTV pv/sb/els/rt

KEYWORD: BUSHFIRES INQUEST (CANBERRA)

2006 AAP Information Services Pty Limited (AAP) or its Licensors.

NSW: 40 people evacuated as fire destroys five cars

AAP General News (Australia)
08-12-2006
NSW: 40 people evacuated as fire destroys five cars

Forty people have been evacuated from their homes and five cars have been destroyed
in a car park fire at a townhouse complex in Sydney's eastern suburbs.

The NSW Fire Brigade says it received a call about heavy smoke in Oberon Street at
South Coogee at 2 o'clock (AEST) this morning with investigations discovering it was coming
from a property in nearby Brook Street.

20 fire fighters were called in to fight the blaze in the basement level car park of
the town house complex while all 40 residents of the building had to be evacuated.

It took crews over an hour to extinguish the fire that destroyed five cars and damaged
five others.

A mechanical ventilator also had to be used to clear the smoke out of the homes before
people were able to return about 4am (AEST).

No one was injured in the fire and investigations into the cause of the blaze are continuing.

AAP RTV nr/bart

KEYWORD: EVACUATED (SYDNEY)

) 2006 AAP Information Services Pty Limited (AAP) or its Licensors.

VIC: Main stories in today's Melbourne newspapers

AAP General News (Australia)
04-06-2006
VIC: Main stories in today's Melbourne newspapers

MELBOURNE, April 6 AAP - The main stories in today's Melbourne newspapers:

THE AGE

Page 1: Nine hundred new personal helpers and mentors will be employed to assist the
mentally ill as part of the $1.8 billion package announced by the federal government.

Page 2: Melbourne's Jacqueline Pascarl-Gillespie has spoken of her joy at being reunited
with her daughter 14 years after she was snatched from Australia.

Page 3: Australia and Indonesia had signalled tougher measures to stop a predicted
flood of Papuan asylum seekers crossing the Torres Strait.

World: Two front-runners have emerged to replace Thaksin Shinawatra as prime minister
of Thailand after his stunning decision to step aside.

Finance: The economy is given a triple shot of good news, with global growth tipped
to rise, Australian rates on hold and the national economy on the move.

Sport: AFL club St Kilda is on the verge of reversing its policy of selling home games
interstate, and could withdraw from its deal with Tasmania as early as this season.

AAP dr/mon

KEYWORD: MONITOR FRONTERS VIC

2006 AAP Information Services Pty Limited (AAP) or its Licensors.

NSW: Police mobolise task force to stop Cronulla attacks

AAP General News (Australia)
12-08-2005
NSW: Police mobolise task force to stop Cronulla attacks

SYDNEY, Dec 8 AAP - NSW Police has mobilised its gang task force to prevent more attacks
at Sydney's Cronulla Beach, where racial tension has been blamed for groups urging violent
attacks on each other.

A series of text messages have been circulating following two violent incidents at
the beach in the past week, including an attack on two lifeguards on Sunday.

And yesterday, a brawl erupted at the beach when a gang of youths allegedly turned
on a media crew.

Premier Morris Iemma today said police resources, including NSW's dedicated gang task
force and its street crime unit, were being mobilised to deal with the situation.

He called for calm, urging people not to take the law into their own hands.

"Our streets are there for everybody to be safe and to go about their business," Mr
Iemma told Macquarie Radio.

"Whether it's going to the beach or going to the cinema, or going to the football,
anyone who takes the law into their own hands will be met with the full force of the law."

MORE tnf/lma

KEYWORD: SURF 2ND DAYLEAD

2005 AAP Information Services Pty Limited (AAP) or its Licensors.

population hypotheses

population hypotheses In marketing research, assumptions made by a researcher or manager about some characteristic of a population being reviewed. Typical hypotheses could be that for a particular population one method of advertising (e.g. TV) is more effective than another (e.g. radio) or that one brand of cereal was more popular in a selected area of the country than in other areas. On the basis of such a hypothesis, data is collected, evaluated, and accepted or rejected according to the probability that it is true.

Avnet Inc. Reports Fourth Quarter and Fiscal Year 2002 Results.

Business Editors

PHOENIX--(BUSINESS WIRE)--Aug. 7, 2002

Avnet Inc. (NYSE:AVT) Wednesday reported net income from continuing operations before special items of $0.7 million, or $0.01 per fully diluted share, on revenues of $2.14 billion for its fiscal fourth quarter ended June 28, 2002.

Net income from continuing operations, before special items, for the fourth quarter of fiscal 2001 was $5.7 million, or $0.05 per share, on revenues of $2.54 billion.

Including special items outlined below, Avnet reported a net loss from continuing operations for the fourth quarter of 2002 of $61.4 million, or $0.51 per share on a fully diluted basis, as compared with the previous fiscal 2001 fourth quarter loss from continuing operations of $231.0 million or $1.96 per fully diluted share.

Total special charges during the fourth quarter of fiscal 2002 amounted to $79.6 million pre-tax ($21.6 million included in cost of sales and $58.0 million included in operating expenses) and $62.1 million after-tax.

Special items reported for the fourth quarter of fiscal 2002 included the impact of incremental charges related to the value of assets acquired in connection with the acquisition of Kent Electronics, the write-down of investments in Internet-related businesses, and severance costs. The impact on diluted earnings per share was $0.52 for the fourth quarter and the full fiscal year.

Commenting on Avnet's results from operations, Roy Vallee, Avnet's chairman and CEO stated, "We are pleased to see a return to profitability before special items in our fiscal fourth quarter, despite experiencing a second consecutive quarterly decline in sales.

"In addition, fourth quarter revenues were down over $390 million year over year, and yet our team managed their way to profitability. This is a reflection of our global team's ability to manage through this difficult market environment."

Avnet reported that revenues from microprocessors and disk drives sold into the PC-Builder market declined by approximately $100 million on a sequential quarterly basis due primarily to substantial excess inventories in the white-box PC manufacturing supply chain.

These revenue declines were offset by slight growth in the sales of electronic components, enterprise computing products, and embedded systems into the non-PC OEM market, leaving company-wide revenues down by approximately $70 million sequentially. Enterprise gross profit margins improved sequentially for the second quarter in a row.

The company reported that, excluding special charges, it reduced operating expenses further during the fourth quarter bringing the total annualized reduction of operating expenses to approximately $300 million since December 2000.

Driven by cash generated through working capital reductions during the June 2002 quarter, Avnet reduced debt by approximately $150 million, including amounts outstanding under its asset securitization program as debt. Since the end of December 2000, excluding the impact of its accounts receivable securitization program, Avnet has reduced debt by approximately $1.5 billion.

Looking forward to the September quarter, Avnet anticipates it will experience the typical seasonality that accompanies the summer quarter. Based upon the anticipated mix in business revenues, sales and earnings are expected to be roughly flat compared to the June 2002 quarter.

Beyond the September quarter, Vallee stated, "We anticipate that the December 2002 quarter will yield improved financial results, due primarily to the historic seasonal strength that normally accompanies our computing businesses.

"After that, we expect to see gradual improvements in the technology markets we serve."

Vallee concluded his remarks by stating: "It is our intent to file the CEO and CFO certifications required by the SEC and the Sarbanes-Oxley Act by the required due date, which is the date Avnet files its Form 10-K for fiscal 2002 which is due on or before Sept. 26, 2002."

For the full fiscal year 2002 ended June 28, 2002, Avnet reported revenues of $8.92 billion as compared with $12.81 billion in fiscal 2001. For the full fiscal year 2002, Avnet reported a net loss from continuing operations, before special items, of $22.3 million or $0.19 per fully diluted share.

Including special items and the cumulative effect of change in accounting principle discussed below, the company reported a loss of $664.9 million, or $5.61 per share on a diluted basis. For the fiscal year 2001, the company reported net income from continuing operations before special items of $236.8 million or $1.99 per fully diluted share.

Including special items and income from discontinued operations, the company reported net income of $15.4 million or $0.13 per fully diluted share.

The company adopted Statement of Financial Accounting Standards No. 142 ("SFAS 142"), "Goodwill and Other Intangible Assets" on June 30, 2001, the first day of fiscal 2002. Therefore, the amortization of goodwill was suspended effective on that date. The company also performed its transitional impairment analysis of goodwill as of June 30, 2001, as required by SFAS 142.

This analysis yielded an impairment charge of $580.5 million with a corresponding reduction in the book value of goodwill in the company's EM and CM operations in Europe and Asia. The company also completed its annual impairment analysis of the remaining goodwill as of March 29, 2002, the first day of its fiscal fourth quarter, which yielded no additional charge.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to uncertainty and changes in factual circumstances.

The forward-looking statements herein include statements addressing future financial and operating results of Avnet. Actual results may vary materially from the expectations contained in the forward-looking statements.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in business conditions and the economy in general, changes in market demand and pricing pressures, allocations of products by suppliers, failure to obtain and retain expected synergies from newly acquired businesses, and other competitive and/or regulatory factors affecting the businesses of Avnet generally.

More detailed information about these and other factors is set forth in Avnet's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for fiscal 2001 and the most recent quarterly report on Form 10-Q.

Avnet is under no obligation to (and expressly disclaims any such obligation to) update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information

Phoenix-based Avnet Inc., a Fortune 500 company, is one of the world's largest distributors of semiconductors, interconnect, passive and electromechanical components, enterprise network and computer equipment, and embedded sub-systems from leading manufacturers.

Serving customers in 63 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain management and engineering services. Please feel free to visit Avnet's Web site at www.ir.avnet.com or contact us at investorrelations@avnet.com.

                                AVNET INC.                    (MILLIONS EXCEPT PER SHARE DATA)   INCLUDING SPECIAL ITEMS (a)(b)             FOURTH QUARTERS ENDED                                             ---------------------                                        JUNE 28,   JUNE 29,                                      2002 (a)(c) 2001 (b)(c) % CHANGE                                      ----------  ----------- --------  Sales                                 $2,144.8      $2,537.8   (15%)  Loss from continuing operations  before income taxes                     (77.9)      (315.6)    75%  Loss from continuing operations          (61.4)      (231.0)    73%  Loss per share from continuing  operations:    Basic                                ($0.51)      ($1.96)    74%    Diluted                              ($0.51)      ($1.96)    74%    EXCLUDING SPECIAL ITEMS                   FOURTH QUARTERS ENDED                                           ---------------------                                       JUNE 28,     JUNE 29,                                        2002 (c)     2001 (c)  % CHANGE                                       --------     --------  --------  Sales                                 $2,144.8     $2,537.8    (15%)  Income from continuing operations  before income taxes                       1.7         11.9    (86%)  Income from continuing operations          0.7          5.7    (88%)  Earnings per share from continuing  operations:    Basic                                 $0.01        $0.05    (80%)    Diluted                               $0.01        $0.05    (80%)   (a) Fiscal 2002 fourth quarter results shown above include the impact of incremental special charges related to the value of assets acquired in connection with the acquisition of Kent Electronics, which was accounted for as a "Pooling-of-Interests," the impairment of investments in Internet-related businesses and severance costs. The special charges amounted to $79.6 million pre-tax ($21.6 million included in cost of sales and $58.0 million included in operating expenses) and $62.1 million after-tax. The impact on diluted earnings per share was $0.52 for the fourth quarter.  (b) Fiscal 2001 fourth quarter results shown above include the impact of incremental special charges related to the acquisition and integration of Kent Electronics, which was accounted for as a "Pooling-of-Interests," and other integration, restructuring and cost cutting initiatives taken in response to business conditions. The special charges amounted to $327.5 million pre-tax ($80.6 million included in cost of sales and $246.9 million included in operating expenses) and $236.7 million after-tax. The impact on diluted earnings per share was $2.01 for the fourth quarter.  (c) Effective as of the beginning of fiscal 2002, the company adopted Statement of Financial Accounting Standards No. 142 ("SFAS 142"), "Goodwill and Other Intangible Assets," which requires, among other things, that goodwill no longer be amortized. Had last year's results also excluded the amortization of goodwill, the fourth quarter net income for fiscal 2001 would have been higher by $8.7 million ($0.07 per share).  The above earnings are from continuing operations only. Information on discontinued operations and the impairment of goodwill under SFAS 142 can be found on the attached statements of operations.                                  AVNET INC.                    (MILLIONS EXCEPT PER SHARE DATA)   INCLUDING SPECIAL ITEMS (a)(b)               FISCAL YEARS ENDED                                              ------------------                                       JUNE 28,     JUNE 29,                                      2002 (a)(c) 2001 (b)(c) % CHANGE                                      ----------   ---------- --------  Sales                                 $8,920.2    $12,814.0   (30%)  Income (loss) from continuing  operations before income taxes         (120.8)        87.3  (238%)  Income (loss) from continuing  operations                              (84.4)         0.1    --  Earnings (loss) per share from  continuing operations:    Basic                               ($ 0.71)         --     --    Diluted                             ($ 0.71)         --     --    EXCLUDING SPECIAL ITEMS                     FISCAL YEARS ENDED                                             ------------------                                       JUNE 28,     JUNE 29,                                       2002 (c)     2001 (c)  % CHANGE                                       --------     --------  --------  Sales                                 $8,920.2    $12,814.0   (30%)  Income (loss) from continuing  operations before income taxes          (41.2)        414.7 (110%)  Income (loss) from continuing  operations                              (22.3)       236.8  (109%)  Earnings (loss) per share from  continuing operations:    Basic                                ($0.19)       $2.02  (109%)    Diluted                              ($0.19)       $1.99  (110%)   (a) Fiscal 2002 results shown above include the impact of incremental special charges related to the value of assets acquired in connection with the acquisition of Kent Electronics, which was accounted for as a "Pooling-of-Interests," the impairment of investments in Internet-related businesses and severance costs. The special charges amounted to $79.6 million pre-tax ($21.6 million included in cost of sales and $58.0 million included in operating expenses) and $62.1 million after-tax. The impact on diluted earnings per share was $0.52 for the year.  (b) Fiscal 2001 results shown above include the impact of incremental special charges related to the acquisition and integration of Kent Electronics, which was accounted for as a "Pooling-of-Interests," and other integration, restructuring and cost cutting initiatives taken in response to business conditions. The special charges amounted to $327.5 million pre-tax ($80.6 million included in cost of sales and $246.9 million included in operating expenses) and $236.7 million after-tax. The impact on diluted earnings per share was $1.99 for the year.  (c) Effective as of the beginning of fiscal 2002, the company adopted Statement of Financial Accounting Standards No. 142 ("SFAS 142"), "Goodwill and Other Intangible Assets," which requires, among other things, that goodwill no longer be amortized. Had last year's results also excluded the amortization of goodwill, net income for fiscal 2001 would have been higher by $33.1 million ($0.28 per share).  The above earnings are from continuing operations only. Information on discontinued operations and the impairment of goodwill under SFAS 142 can be found on the attached statements of operations.                                 AVNET INC.                  CONSOLIDATED STATEMENTS OF OPERATIONS                    (THOUSANDS EXCEPT PER SHARE DATA)   INCLUDING SPECIAL ITEMS (a)(b)              FOURTH QUARTERS ENDED                                             ---------------------                                           JUNE 28,         JUNE 29,                                         2002 (a)(c)     2001 (b)(c)                                         -----------     -----------  Sales                                 $  2,144,752    $  2,537,755 Cost of sales                            1,862,105       2,225,323 Gross profit                               282,647         312,432 Operating expenses                         336,074         590,058 Operating income (loss)                    (53,427)       (277,626) Other income, net                            2,005           8,397 Interest expense                           (26,451)        (46,328) Income (loss) from continuing  operations before income taxes            (77,873)       (315,557) Income taxes                               (16,472)        (84,521) Income (loss) from continuing  operations                                (61,401)       (231,036) Income (loss) from discontinued  operations, net of income taxes              --            (5,111) Income (loss) before cumulative  effect of change  in accounting principle                   (61,401)       (236,147) Cumulative effect of change in  accounting principle                         --              -- Net income (loss)                         ($61,401)      ($236,147) Earnings (loss) per share from  continuing operations:   Basic                                     ($0.51)         ($1.96)   Diluted                                   ($0.51)         ($1.96) Earnings (loss) per share before  cumulative effect  of change in accounting principle,  net:   Basic                                     ($0.51)         ($2.01)   Diluted                                   ($0.51)         ($2.01) Net earnings (loss) per share:   Basic                                     ($0.51)         ($2.01)   Diluted                                   ($0.51)         ($2.01) Shares used to compute earnings  (loss) per share:   Basic                                    119,397         117,697   Diluted                                  119,397         117,697                                                FISCAL YEARS ENDED                                              ------------------                                            JUNE 28,       JUNE 29,                                         2002 (a)(c)     2001 (b)(c)                                         -----------     ----------  Sales                                   $8,920,248     $12,814,010 Cost of sales                            7,697,434      10,948,484 Gross profit                             1,222,814       1,865,526 Operating expenses                       1,225,799       1,611,874 Operating income (loss)                     (2,985)        253,652 Other income, net                            6,755          25,495 Interest expense                          (124,583)       (191,895) Income (loss) from continuing  operations before income taxes           (120,813)         87,252 Income taxes                               (36,377)         87,155 Income (loss) from continuing  operations                                (84,436)             97 Income (loss) from discontinued  operations, net of income taxes              --            15,305 Income (loss) before cumulative  effect of change  in accounting principle                   (84,436)         15,402 Cumulative effect of change in  accounting principle                     (580,495)           -- Net income (loss)                        ($664,931)        $15,402 Earnings (loss) per share from  continuing operations:   Basic                                     ($0.71)           --   Diluted                                   ($0.71)           -- Earnings (loss) per share before  cumulative effect  of change in accounting principle,  net:   Basic                                     ($0.71)          $0.13   Diluted                                   ($0.71)          $0.13 Net earnings (loss) per share:   Basic                                     ($5.61)          $0.13   Diluted                                   ($5.61)          $0.13 Shares used to compute earnings  (loss) per share:   Basic                                    118,561         117,263   Diluted                                  118,561         118,815  (a) Fiscal 2002 fourth quarter and entire year results shown above include the impact of incremental special charges related to the value of assets acquired in connection with the acquisition of Kent Electronics, which was accounted for as a "Pooling-of-Interests," the impairment of investments in Internet-related businesses and severance costs. The special charges amounted to $79.6 million pre-tax ($21.6 million included in cost of sales and $58.0 million included in operating expenses) and $62.1 million after-tax. The impact on diluted earning per share was $0.52 for the fourth quarter of the year.  (b) Fiscal 2001 fourth quarter and entire year results shown above include the impact of incremental special charges related to the acquisition and integration of Kent Electronics, which was accounted for as a "Pooling-of-Interests," and other integration, restructuring and cost cutting initiatives taken in response to business conditions. The special charges amounted to $327.5 million pre-tax ($80.6 million included in cost of sales and $246.9 million included in operating expenses) and $236.7 million after-tax. The impact on diluted earning per share was $2.01 for the fourth quarter and $1.99 for the year.  (c) Effective as of the beginning of fiscal 2002, the company adopted Statement of Financial Accounting Standards No. 142 ("SFAS 142"), "Goodwill and Other Intangible Assets," which requires, among other things, that goodwill no longer be amortized. Had last year's results also excluded the amortization of goodwill, the fourth quarter and total year net income for fiscal 2001 would have been higher by $8.7 million ($0.07 per share) and $33.1 million ($0.28 per share), respectively.                                AVNET INC.                  CONSOLIDATED STATEMENTS OF OPERATIONS                    (THOUSANDS EXCEPT PER SHARE DATA)  EXCLUDING SPECIAL ITEMS (a)(b)            FOURTH QUARTERS ENDED                                           ---------------------                                          JUNE 28,          JUNE 29,                                       2002 (a)(c)       2001 (b)(c)                                       -----------       -----------  Sales                                 $2,144,752        $2,537,755 Cost of sales                          1,840,505         2,144,727 Gross profit                             304,247           393,028 Operating expenses                       278,051           343,169 Operating income                          26,196            49,859 Other income, net                          2,005             8,397 Interest expense                         (26,451)          (46,328) Income (loss) from continuing   operations before income taxes           1,750            11,928 Income taxes                               1,067             6,272 Income (loss) from continuing   operations                                 683             5,656 Income (loss) from discontinued   operations, net of income taxes              -            (5,111) Income (loss) before cumulative   effect of change in accounting   principle                                  683               545 Cumulative effect of change in   accounting principle                         -                 - Net income (loss)                           $683              $545 Earnings (loss) per share from   continuing operations:         Basic                              $0.01             $0.05         Diluted                            $0.01             $0.05  Earnings (loss) per share before   cumulative effect of change in   accounting principle, net:         Basic                              $0.01                 -         Diluted                            $0.01                 - Net earnings (loss) per share:         Basic                              $0.01                 -         Diluted                            $0.01                 - Shares used to compute earnings   (loss) per share:         Basic                            119,397           117,697         Diluted                          119,397           117,697                                               FISCAL YEARS ENDED                                             ------------------                                          JUNE 28,          JUNE 29,                                       2002 (a)(c)       2001 (b)(c)                                       -----------       -----------  Sales                                 $8,920,248       $12,814,010 Cost of sales                          7,675,834        10,867,888 Gross profit                           1,244,414         1,946,122 Operating expenses                     1,167,776         1,364,985 Operating income                          76,638           581,137 Other income, net                          6,755            25,495 Interest expense                        (124,583)         (191,895) Income (loss) from continuing   operations before income taxes         (41,190)          414,737 Income taxes                             (18,838)          177,948 Income (loss) from continuing   operations                             (22,352)          236,789 Income (loss) from discontinued   operations, net of income taxes              -            15,305 Income (loss) before cumulative   effect of change in accounting   principle                              (22,352)          252,094 Cumulative effect of change in   accounting principle                  (580,495)                - Net income (loss)                      ($602,847)         $252,094 Earnings (loss) per share from   continuing operations:         Basic                             ($0.19)            $2.02         Diluted                           ($0.19)            $1.99  Earnings (loss) per share before   cumulative effect of change in   accounting principle, net:         Basic                             ($0.19)            $2.15         Diluted                           ($0.19)            $2.12 Net earnings (loss) per share:         Basic                             ($5.09)            $2.15         Diluted                           ($5.09)            $2.12 Shares used to compute earnings   (loss) per share:         Basic                            118,561           117,263         Diluted                          118,561           118,815   (a) Fiscal 2002 fourth quarter and entire year results shown above exclude the impact of incremental special charges related to the value of assets acquired in connection with the acquisition of Kent Electronics, which was accounted for as a "Pooling-of-Interests", the impairment of investments in Internet-related businesses and severance costs. The special charges amounted to $79.6 million pre-tax ($21.6 million included in cost of sales and $58.0 million included in operating expenses) and $62.1 million after-tax. The impact on diluted earning per share was $0.52 for the fourth quarter of the year.  (b) Fiscal 2001 fourth quarter and entire year results shown above exclude the impact of incremental special charges related to the acquisition and integration of Kent Electronics, which was accounted for as a "Pooling-of-Interests", and other integration, restructuring and cost cutting initiatives taken in response to business conditions. The special charges amounted to $327.5 million pre-tax ($80.6 million included in cost of sales and $246.9 million included in operating expenses) and $236.7 million after-tax. The impact on diluted earning per share was $2.01 for the fourth quarter and $1.99 for the year.  (c) Effective as of the beginning of fiscal 2002, the Company adopted Statement of Financial Accounting Standards No. 142 ("SFAS 142"), "Goodwill and Other Intangible Assets," which requires, among other things, that goodwill no longer be amortized. Had last year's results also excluded the amortization of goodwill, the fourth quarter and total year net income for fiscal 2001 would have been higher by $8.7 million ($0.07 per share) and $33.1 million ($0.28 per share), respectively.                                 AVNET  INC.                       CONSOLIDATED BALANCE SHEETS                               (THOUSANDS)                                                   JUNE 28,     JUNE 29,                                                  2002 (a)     2001 (a)                                                  --------     -------- Assets:      Current assets:        Cash and cash equivalents                 $159,234      $97,279        Receivables                              1,374,017    1,629,566        Inventories                              1,417,305    1,917,044        Other                                      224,751      103,600            Total current assets                 3,175,307    3,747,489      Property, plant & equipment                  349,924      417,159      Goodwill                                     844,597    1,404,863      Other assets                                 312,126      294,637             Total assets                         4,681,954    5,864,148  Less liabilities:      Current liabilities:        Borrowings due within one year              59,309    1,302,129        Accounts payable                           891,234      853,196        Accrued expenses and other                 326,293      414,740            Total current liabilities            1,276,836    2,570,065      Long-term debt, less due within one year   1,565,836      919,493      Other long-term liabilities                   34,772            -             Total liabilities                    2,877,444    3,489,558  Shareholders' equity                           $1,804,510   $2,374,590   (a) The Company has an accounts receivable securitization program whereby it sells an interest in a pool of its trade accounts receivable. The purpose of the program is to provide the Company with an additional source of liquidity at interest rates more favorable than it could receive through other forms of financing. At June 28, 2002 and June 29, 2001, the Company had sold $200.0 million and $350.0 million, respectively, of receivables under the program. This is reflected as a reduction of receivables, with the proceeds used to pay down debt, in the above balance sheet.                                 AVNET INC.                           SEGMENT INFORMATION                               (MILLIONS)                            FOURTH QUARTERS ENDED    FISCAL YEARS ENDED                           ---------------------    ------------------                             JUNE 28,   JUNE 29,    JUNE 28,    JUNE 29,   SALES                      2002       2001        2002        2001 ---------------------      --------   --------    --------    -------- Electronics Marketing     $1,216.6   $1,553.9    $4,841.9    $8,286.6  Computer Marketing           570.9      619.7     2,399.3     2,855.6  Applied Computing            357.3      364.2     1,679.1     1,671.8  Consolidated              $2,144.8   $2,537.8    $8,920.3   $12,814.0     OPERATING INCOME (LOSS) ------------------------ Electronics Marketing        $18.1      $41.5       $22.7      $532.4  Computer Marketing            19.0       14.7        63.0        86.4  Applied Computing             (2.2)      17.0        42.8        63.9  Headquarters                  (8.7)     (23.3)      (51.9)     (101.5)  Consolidated Before  Special Items                26.2       49.9        76.6       581.2  Special Items                (79.6)    (327.5)      (79.6)     (327.5)  Consolidated                ($53.4)   ($277.6)      ($3.0)     $253.7 

Conexant Teams With NDS to Bring New Digital TV Services to Consumers and Broadcasters.

Business Editors & High-Tech Writers

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--April 23, 2001

Companies Will Collaborate On Development And Marketing Of Advanced

Set-Top Box Platform

Conexant Systems, Inc. (Nasdaq:CNXT), a worldwide leader in semiconductor system solutions for communications applications, today announced that it has joined forces with NDS Group plc (Nasdaq:NNDS) to develop a new interactive set-top box reference design platform.

Designed to bring the latest interactive services to consumers and enhance revenue opportunities for broadcast operators, the set-top box reference platform will be optimized for emerging personal video recording (PVR) applications. The Conexant/NDS PVR reference design will enable the creation of high-performance, low-cost satellite and cable set-top boxes that are based on Conexant's complete system solutions.

As part of the arrangement, Conexant will integrate NDS' advanced XTV(TM) PVR technology -- which allows consumers to record, pause, rewind and fast-forward encrypted television programs in real-time -- into its interactive TV decoder chipsets and will develop device drivers that support NDS' XTV system software.

In addition, the two companies have agreed to participate in joint marketing and business development programs to support sales of the combined platform. The Conexant/NDS solution will be available later this year to set-top box manufacturers.

"We are pleased to extend our relationship with NDS, and to collaborate on the development and marketing of next-generation set-top box solutions," said Eric Rayel, director, technical marketing for Conexant's Digital Infotainment Division. "Our combined leadership will enable the creation of cost-optimized set-top platforms specifically designed for emerging interactive PVR applications."

"Conexant is an important NDS IC technology partner and its solutions are an ideal complement to our XTV platform," said Dr. Jas Saini, vice president Consumer Devices, NDS Group plc. "We look forward to working with Conexant to bring to market new set-top box solutions that allow broadcasters to deliver a new array of interactive services to consumers."

A value-added platform that incorporates digital reception and content protection, NDS' XTV technology extends business opportunities for broadcast operators by enabling them to exploit new and existing business models for content stored on the disk in the set-top box. XTV technology offers increased pay-per-view and rental opportunities, and enhances the promotion of premium content to viewers, allowing them to pay when viewing, rather than when recording. In addition, it enables consumers to personalize their viewing, scheduling and recording.

Conexant interactive TV decoder chipsets offer an ideal hardware platform for XTV combining advanced CPU, core logic and graphics performance in a low cost single chip form factor. Next generation ICs from Conexant will integrate NDS' XTV functionality for optimized PVR system performance and features.

Offering a combination of leading-edge performance and low bill-of-materials costs, Conexant's set-top box ICs provide a comprehensive silicon and software solution for OEMs designing PVR-enabled set-top products. Conexant's set-top box portfolio includes cable modems, silicon tuners, demodulators, TV encoder chips and analog modems.

About Conexant Systems, Inc.

Conexant Systems, Inc. is a worldwide leader in semiconductor system solutions for communications applications. Conexant leverages its expertise in mixed signal processing to deliver integrated systems and semiconductor products through two separate businesses: Conexant and Mindspeed Technologies.

Conexant's personal networking business is focused on digital infotainment, personal imaging, wireless communications and personal computing products that are used in mobile communications and the broadband digital home.

Mindspeed Technologies is focused on Internet infrastructure products including WAN transport, multiservice access and broadband access for applications that extend from the edge of the Internet all the way to its optical core.

Conexant has headquarters in Newport Beach and delivered revenues of $2.1 billion for fiscal 2000. The company is a member of the S&P 500 and NASDAQ-100 indices. To learn more, visit the company at www.conexant.com.

About NDS

NDS Group plc is a leading supplier of open conditional access software and interactive systems for the secure delivery of entertainment and information to television set-top boxes and personal computers. The company also develops security solutions for broadband Internet multicasting applications. See www.nds.com for more information.

Safe Harbor Statement

This news release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: maintaining a consistent and reliable source of energy; global economic and market conditions, such as the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful separation of the company's Internet infrastructure and personal networking businesses; the ability to attract and retain qualified personnel; labor relations of the company, its customers and suppliers; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Note to Editors: Additional technical information is available.

Conexant is a trademark of Conexant Systems, Inc. XTV and Videoguard are trademarks of NDS plc. Other brands and names contained in this release are the property of their respective owners.