Interim Results

Electrocomponents PLC
8 November 2000

                                  Embargoed until 07:00am on 8th November 2000




INTERIM RESULTS

Electrocomponents plc, the major electronic, electrical and industrial
supplies distribution Group, today announces its results for the half year
ended 30 September 2000.

Allied Electronics was acquired on 2nd July 1999.  Consequently its results
have been consolidated for all of the current half year and 3 months of the
prior half year.

The highlights of the Group results are:


Sales                                              £415.0m      up        18.5%
Operating profit*                                   £57.1m      up         8.8%
Profit before tax*                                  £53.5m      up         2.1%
Earnings per share*                                   8.9p      up         3.5%
Dividend per share                                   4.25p      up        14.9%
Net debt                                           £106.2m



* Before amortisation of goodwill.

Commenting on the results, Mr Roy Cotterill, Chairman said:

' In recent weeks, markets in Continental Europe, Asia and the United States
have remained robust and the strong trading trends of the first half have
continued. Although positive, the UK sales increase has not been as strong,
with the strength of Sterling and widespread restructuring in the
manufacturing sector being continuing factors. Increased investments in
e-Commerce and China held back our increase in profits compared to sales.  We
are continuing to invest heavily in our strategic initiatives as we are ever
more convinced that these will bring considerable value to our shareholders.'

8 November 2000

Enquiries:

Roy Cotterill, Chairman                   Electrocomponents plc 0207 567 8000**
                                                                 
Bob Lawson, Chief Executive               Electrocomponents plc 0207 567 8000**
                                                                 
Jeff Hewitt, Deputy Chairman / Finance    Electrocomponents plc 0207 567 8000**
Director                                                         
Diana Soltmann                            Flagship Consulting   0207 299 1500
                                          Ltd

** Available to 17:00 on 8 November, thereafter 01865 204000.



               STATEMENT BY THE CHAIRMAN ON THE INTERIM RESULTS


Electrocomponents continues to build its business world-wide in high service
distribution  to technical users. In this half year the focus has been on
progressing the strategic initiatives which have already enabled us to
establish global leadership.

Allied Electronics has had a tremendous fifteen months in the Group and we are
delighted with the performance. More importantly for the longer term, through
cross fertilisation of knowledge and skills we are continuing to reinforce
Allied as the North American arm of Electrocomponents.  With the business
growing well in excess of 30% the immediate priority has been to meet, and
indeed better, customer expectations so developing an even stronger market
base to support future growth.

Our strategic alliance with Avnet, the previous owner of Allied and the
largest volume distributor of electronic components in the world, has made
progress with a first initiative focused on semiconductors in Europe.

Your Board recently visited the Japanese business, which was launched only
eighteen months ago. We were entirely impressed by our prospects and progress
in this the second largest distribution market in the world and one where our
form of distribution did not exist before our entry. The highly competent
management is making excellent progress and we are ahead of our plan.  Clearly
the 'RS model' is as relevant to Japan as to any other market and the
opportunity is very large.  Your Board also visited the Asian operations where
we have enthusiastic and energetic management teams and again was impressed by
the market opportunities in both China and the ASEAN markets.  In China the
market reaction to our Chinese language locally priced catalogue, that was
launched in April, has been very promising and we now have our first stocking
location in Shanghai.

Our e-Commerce initiative has been especially active over the past twelve
months and sales through this very different channel have risen to a
significant level in the UK and a surprisingly higher level in Japan and
Malaysia.  As always, meeting our customers' expectations is paramount and
using the customer information arising from e-Commerce to better these
expectations presents the major opportunity.

In September we entered the FTSE 100 Index.  We are delighted by this and
determined to continue to make steady progress. Electrocomponents is one of
the few FTSE 100 constituents that has grown substantially by organic means
and has not been back to the market to raise further capital since our listing
in 1967.  One thousand pounds invested in Electrocomponents at that time is
now worth about £1million, without re-investment of dividends which have also
grown without pause for these 33 years. The business model is indeed good and
our strategy is to apply it more widely through continued investment.

The trends experienced in the second half of last year persisted into this
year and our major markets continued to improve. Including Allied for this
half year (as against three months last year), sales increased by 18.5% to £
415.0m; operating profit (before amortisation of goodwill arising from the
Allied acquisition) increased 8.8% to £57.1m.  At constant exchange rates and
adjusted for trading days, sales increased 12.3% and excluding Allied 8.2%.
Profit before tax and before amortisation of goodwill increased 2.1% to £
53.5m, but after a lower tax rate, earnings per share increased 3.5% to 8.9p.
After goodwill amortisation, profit before tax was £47.8m and earnings per
share 7.6p.

The increased strategic investments in e-Commerce and China held back profits
compared to sales. The underlying growth in process costs continues to flatten
relative to sales growth.  The higher increase in these costs in the first
half was partly due to the funding requirements of our Long Term Incentive
Plan reflecting the increase in our share price.

As a result of the worsening trade environment Pact made a loss in the half
year and the decision has now been made to divest this business.

Cash management remained strong despite the working capital increases to
support the sales growth.

Given the success of recent developments the confidence of your Board is
reflected in the 14.9% increase in the interim dividend to 4.25 pence.

As indicated at the Annual General Meeting, during this half year we were
delighted to welcome Tim Barker and Les Atkinson as non-executive Directors.
Tim has had a career in corporate finance and general management with Dresdner
Kleinwort Benson whilst Les spent many years with BP, partly in Asia as head
of their operations in that region.  Their experience will be of great value
and they have joined the Audit, Remuneration and Nomination Committees.

Additionally the executive membership of the Board has evolved.  Appointed
were Ian Mason as Chief Operating Officer and Richard Butler as Chief Process
Officer, reflecting the matrix structure of the Group. Jeff Hewitt became
Deputy Chairman with continuing responsibility for Finance as well as added
responsibility for Information Systems. Consequential appointments have been
made through the organisation. These steps reflect our increasing size and
complexity and pave the way for sensible succession in due course.

In recent weeks, markets in Continental Europe, Asia and the United States
have remained robust and the strong trading trends of the first half have
continued. Although positive, the UK sales increase has not been as strong,
with the strength of Sterling and widespread restructuring in the
manufacturing sector being continuing factors. Increased investments in
e-Commerce and China held back our increase in profits compared to sales.  We
are continuing to invest heavily in our strategic initiatives as we are ever
more convinced that these will bring considerable value to our shareholders.

Roy Cotterill, Chairman
8 November 2000


           STATEMENT BY THE CHIEF EXECUTIVE ON THE INTERIM RESULTS

During the half year sales have continued to be strong with only the UK and
Australia less buoyant than the higher growth businesses in the Group.

Sales in the UK grew by 3.8% (adjusted for trading days) to £208m reflecting
the continuing gentle improvement seen in the second half of last year.
Unfortunately, the fuel crisis in September damaged sales during the month and
at least £1m of revenue was lost.  The transition from three catalogues per
year to two has been successfully completed and is now aligned with
Continental Europe.  This change has released resources that have been
redeployed to targeted marketing activities such as specialogues.  More
fundamentally, this change reflects the evolving role of the paper catalogue
as electronic media become more important to customers.  The UK has just been
awarded the Best Industry Service Award by the readership of Electronics
Weekly.  This is an outstanding recognition of the level of professionalism
achieved by the UK team.  We have also chosen the UK to spearhead further
development of customer relationship management, systems and techniques.

International sales grew by 50% to £188m, which included the effect of the
Allied acquisition.  Without Allied, the underlying growth was 24%, adjusted
for exchange rates and trading days.

In the major economies of Europe, growth has been strong.  Increasingly we are
managing these markets on a similar basis as essentially the opportunities and
challenges are the same.  The disciplined application of key initiatives
combined with the sharing of best practice will result in the optimisation of
market development and hence create shareholder value.  This approach has
delivered the following sales increases for the half year (adjusted for
trading days and exchange rates): France 24%; Germany 19%; Italy 28%.  The
number of customers served in these markets has grown by 8% over the past 12
months and products offered by 6% (since March) to approximately 80,000
products in each market.

In the smaller European markets, our sales have increased by 19% (adjusted)
with Spain and Benelux growing more strongly.  The other markets performed
well except Scandinavia, which has remained weak.

Exports to markets whose currencies are linked to the US dollar have been
strong, reflecting the relative weakness of Sterling, with growth of 12%
(adjusted) in the half year.

In Asia, the major new strategic developments have focused upon China which,
when combined with Hong Kong has grown by 30% (adjusted).  In the half year we
have launched a world first, a broad range catalogue of 60,000 products
described in Chinese and priced in Renminbi.  This was launched on 1st April
together with a Chinese CD-Rom and a Chinese language web site.  These
initiatives have been received enthusiastically by the Chinese engineers and
have helped to further consolidate RS's position as the only credible high
service supplier in China.  Aligned to this development has been the opening
in September of our first fulfilment centre on the mainland in Shanghai.  This
will only service the Shanghai region, as we have to work with local
regulatory authorities to develop all the procedures necessary to deliver a
true high service offer to the local market.  These initiatives have cost an
additional £1m in the half year.

Sales in the ASEAN region grew by 27% (adjusted) with Malaysia and the
Philippines growing particularly strongly.

The new management team in Australia has now stabilised the business and
returned the company to sales growth.  Australia continues to offer
opportunities to us.

Japan has completed 18 months of extremely successful trading since its
launch.  Sales for the half year reached £3.6m, an increase of 80% over the
second half of last year.  More importantly for long term value creation is
the evidence that the RS model is working.  The average order value equates to
£80 and, critically, repeat business from first time purchasers is very high.
The range of products on offer has now reached 33,000, some 35% higher than
launch, and this will continue to expand as the market develops.  Currently,
losses are below plan but we will continue to invest to reinforce our market
position with breakeven remaining as planned in about 3 years' time.

Allied, acquired in July 1999, has had a spectacular half year with sales up
by 37% (over the comparative half year period).  Some of this growth is as a
result of the particularly buoyant electronic component market in the US, but
underlying this has been the investment in the business to improve the service
level to customers and to enhance sales coverage.  The quality of the Allied
management team is demonstrated by this performance, and the team has been
further strengthened in the half year to prepare for the next stage of
development.  Allied has been established as the North American arm of the
Group and is being further developed by sharing best practice and people on
issues as diverse as supplier management to systems development.

Underlying the Group's market activity are the Groupwide processes that enable
the delivery of outstanding service to customers at an economic cost.
Information systems represent over half the cost of our Groupwide processes,
and these costs continue to evolve with particular emphasis on the creation of
consistent databases across all elements of the Group. In the short term, the
key priority is to prepare the Euro insider countries to maintain transactions
and accounts in Euros and such activities are on plan.

For the Supply Chain, maintaining a high level of stocks has been a conscious
decision to alleviate the worst impacts of shortages and lengthening lead
times for electronic components. The successful alliance with Avnet has
assisted us, and this has been a significant factor in Electrocomponents
maintaining unchallenged product availability to customers.  The high rates of
sales growth achieved have been supported with good service levels and this
demonstrates the power of Groupwide processes in delivering our service
capability on a global scale.

e-Commerce is a strategic initiative for the Group predicated upon
transferring the Group's skills to the opportunities available from the
Internet.  At the centre of the activities are the individual country web
sites and these are now available and used in every market in which we
operate.  In the UK, the Internet now accounts for 6% of sales but this has
been eclipsed by Japan and Malaysia at over 10%.  The systems to provide
personalised information to individual engineers continue to be developed so
that we will be able to provide the required information needed by each
individual customer.  'e-Purchasing', an easy to use system to enable
customers to lower transaction process costs, continues to gain popularity in
the UK with over 100 accounts now using or piloting this capability.
'e-Purchasing' is now being rolled out to the major European markets to be
completed by the summer of 2001.  In addition, the capability of our UK site
has now been developed and delivered to enable our e-Procurement partners to
provide enhanced service to their customers, mainly multinational
corporations.  Our incremental investment in this area has increased
substantially and the total will reach £8.5m in this year.  e-Commerce is now
an intrinsic part of our business, but with a sharp focus on delivering
benefit to customers.

Pact has had a very weak half year due to the difficult trading experienced by
its customers.  It suffered a decline in sales of 17% (adjusted) and a trading
loss of £0.4m.  After careful consideration, we have decided to divest Pact
from Electrocomponents and that process will be completed during this
financial year.

This would leave the Group entirely focused on the high service segment of
supplying information, products and services to technical users across the
major economies of the world.  Much progress has been made in the half year
and the Group's strong management team remains committed to achieving
leadership by superior service in all the markets in which we operate.

Bob Lawson, Chief Executive
8 November 2000


                                GROUP RESULTS




                                           Note  6 months   6 months  Year to
                                                       to         to
                                                30.9.2000  30.9.1999  31.3.2000
                                               (unaudited)(unaudited) (audited)
                                                       £m         £m       £m

Turnover                                     1      415.0      350.1    761.4


Operating profit
         - before amortisation of goodwill           57.1       52.5    118.8
         - amortisation of goodwill                  (5.7)      (2.7)    (8.0)


                                             1       51.4       49.8    110.8
Net interest payable                                 (3.6)      (0.1)    (3.5)


Profit on ordinary activities before                 47.8       49.7    107.3
taxation


Profit before taxation and amortisation of           53.5       52.4    115.3
goodwill


Taxation on profit on ordinary activities    2      (15.0)     (15.2)   (33.4)


Profit on ordinary activities after                  32.8       34.5     73.9
taxation

Interim dividend                                    (18.6)     (16.0)   (16.0)
Final dividend                                          -          -    (35.9)


Retained profit for the period                       14.2       18.5     22.0


Recognised gains and losses


Profit on ordinary activities after                  32.8       34.5     73.9
taxation
Translation differences                              12.0       (5.4)    (6.0)


Total recognised gains and losses relating           44.8       29.1     67.9
to the period


Per share information

Basic earnings per share
         Before amortisation of goodwill     3       8.9p       8.6p    19.0p
         After amortisation of goodwill      3       7.6p       8.0p    17.1p


Dividend per share
         Interim                             4      4.25p      3.70p    3.70p
         Final                                                          8.30p


                             GROUP BALANCE SHEET


                                                30.9.2000  30.9.1999 31.3.2000
                                              (unaudited) (unaudited) (audited)
                                           Note        £m         £m       £m


Fixed assets

Intangible fixed assets - goodwill                    216.6      204.6    205.7
Tangible fixed assets                                 126.7      132.2    126.9
Investments                                             0.2        0.1      0.2

                                                      343.5      336.9    332.8

Current assets
Stocks                                                169.9      153.3    164.7
Debtors                                               161.9      149.7    163.9
Short-term investment deposits                          5.1       15.4     24.1
Cash at bank and in hand                                9.8       20.2     17.2


                                                      346.7      338.6    369.9
Creditors: amounts falling due within one           (178.3)    (163.7)  (206.7)
year


Net current assets                                    168.4      174.9    163.2


Total assets less current liabilities                 511.9      511.8    496.0
Creditors: amounts falling due after more            (96.7)    (130.9)  (109.9)
than one year
Provisions for liabilities and charges               (11.2)     (12.3)   (11.6)


                                                      404.0      368.6    374.5


Capital and reserves

Called-up share capital                                43.4       43.2     43.3
Share premium account                                  34.4       24.8     31.2
Profit and loss account                               326.2      300.6    300.0


Equity shareholders' funds                   5        404.0      368.6    374.5




                          GROUP CASH FLOW STATEMENT


                                           Note  6 months   6 months  Year to
                                                       to         to
                                                30.9.2000  30.9.1999  31.3.2000
                                               (unaudited)(unaudited) (audited)
                                                       £m         £m        £m

Net cash inflow from operating activities              52.1       63.5    122.7
Returns on investments and servicing of               (3.9)        2.1    (1.7)
finance
Taxation                                             (11.2)      (6.3)   (37.3)
Capital expenditure and financial                     (7.5)      (9.9)   (16.8)
investment


Free cash flow                                         29.5       49.4     66.9
Acquisitions                                              -    (241.6)  (241.6)
Equity dividends paid                                (35.9)     (31.2)   (47.2)


Cash outflow before use of liquid                     (6.4)    (223.4)  (221.9)
resources and financing
Management of liquid resources                         19.5       75.9     67.2
Financing
         Shares                                         3.3        2.2      5.2
         Loans                                       (16.3)      131.4    125.3


Increase (decrease) in cash                  6          0.1     (13.9)   (24.2)


Reconciliation of operating profit to net
cash inflow from

operating activities


Operating profit                                       51.4       49.8    110.8
Amortisation of goodwill                                5.7        2.7      8.0
Depreciation and other amortisation                     9.7        9.7     20.8
(Increase) in stocks                                  (3.6)      (8.5)   (21.7)
Decrease (increase) in debtors                          3.1        5.2   (13.6)
(Decrease) increase in creditors                     (14.2)        4.6     18.8


Continuing operations                                  52.1       63.5    123.1
Cash flow in respect of closures                          -          -    (0.4)


Net cash inflow from operating activities              52.1       63.5    122.7



                        NOTES TO THE INTERIM STATEMENT


1 Segmental analysis                            6 months to  6 months  Year to
                                                                  to
                                                30.9.2000  30.9.1999 31.3.2000  
                                             (unaudited) (unaudited) (audited)
                                                       £m          £m       £m

By class of business


Turnover:             RS / Allied                   396.0        327.0    711.2
                      Pact                           19.0         23.1     50.2

                                                    415.0        350.1    761.4
                                                     

Operating profit:     RS / Allied                    91.6         79.7    177.4
                      Pact                           (0.4)           -      0.5
                                                      
                      Contribution                   91.2         79.7    177.9
                      Groupwide process             (34.1)      (27.2)   (59.1)
                      costs                                                
                      Amortisation of                (5.7)       (2.7)    (8.0)
                      goodwill*                                             


                                                     51.4         49.8    110.8

Net assets:           RS / Allied                   330.6        302.6    315.9
                      Pact                           19.0         20.6     18.3

                      Net operating                 349.6        323.2    334.2
                      assets
                      Net debt                     (106.2)     (95.7)   (95.8)
                      Unallocated net               160.6      141.1    136.1
                      assets
                                                    404.0      368.6    374.5
                                                     


Unallocated net assets comprise:                    
                            Intangible fixed        216.6      204.6    205.7
                            assets - goodwill*                                  
                           Corporation tax         (26.2)     (35.2)   (22.1)
                            Proposed dividend       (18.6)     (16.0)   (35.9)
                            Provisions for          (11.2)     (12.3)   (11.6)
                            liabilities and charges                             

                                                    160.6      141.1    136.1
                                                    
By geographical destination


Turnover:             United Kingdom                220.2      219.4    453.3
                      Rest of Europe                 93.3       84.2    181.2
                      North America                  74.5       25.6     84.5
                      Japan                           3.6        0.7      2.8
                      Rest of World                  23.4       20.2     39.6
                                                      
                                                    415.0      350.1    761.4
                                                     

* Goodwill relates to Allied
 

1 Segmental analysis continued                    6 months   6 months  Year to
                                                        to         to
                                                 30.9.2000  30.9.1999 31.3.2000
                                                (unaudited)(unaudited)(audited)
                                                        £m         £m       £m

By geographical origin


Turnover:             United Kingdom                  226.8      225.0    464.3
                            Rest of Europe             91.2       82.5    177.5
                            North America              74.7       25.6     84.6
                            Japan                       3.6        0.7      2.7
                            Rest of World              18.7       16.3     32.3


                                                      415.0      350.1    761.4


Operating profit:  United Kingdom                      64.8       64.2    134.8
                            Rest of Europe             15.4       13.0     31.8
                            North America              13.5        4.8     15.2
                            Japan                      (3.2)     (3.5)    (7.0)
                            Rest of World               0.7        1.2      3.1


                            Contribution               91.2       79.7    177.9
                            Groupwide process        (34.1)     (27.2)   (59.1)
                            costs
                            Amortisation of           (5.7)      (2.7)    (8.0)
                            goodwill*
                                                       51.4       49.8    110.8


By geographical location


Net Assets:           United Kingdom                  235.8      226.9    234.0
                            Rest of Europe             49.3       45.1     44.8
                            North America              34.9       25.5     29.1
                            Japan                       4.0        3.8      4.1
                            Rest of World              25.6       21.9     22.2


                            Net operating assets      349.6      323.2    334.2
                            Net debt                (106.2)     (95.7)   (95.8)
                            Unallocated net           160.6      141.1    136.1
                            assets


                                                      404.0      368.6    374.5

* Goodwill relates to Allied (North America segment)


2 Taxation on the profit of the Group             6 months   6 months  Year to
                                                        to         to
                                                 30.9.2000  30.9.1999 31.3.2000
                                                (unaudited)(unaudited)(audited)
                                                        £m         £m       £m

United Kingdom taxation                                11.2       12.6     27.2
Overseas taxation                                       3.8        2.6      6.2


                                                       15.0       15.2     33.4


3 Earnings per share


Profit on ordinary activities after taxation           32.8       34.5     73.9
Amortisation of goodwill                                5.7        2.7      8.0


Profit on ordinary activities after taxation and       38.5       37.2     81.9
before goodwill


Weighted average number of shares                    432.6m     430.5m   431.4m


Basic earnings per share
                   Before amortisation of              8.9p       8.6p    19.0p
                   goodwill
                   After amortisation of               7.6p       8.0p    17.1p
                   goodwill




4 Interim dividend


The timetable for the payment of the interim dividend is:


Ex-dividend date               11 December 2000
Dividend record date           15 December 2000
Dividend payment date          22 January 2001


5 Reconciliation of movements in shareholders'   6 months   6 months  Year to
funds                                                  to         to
                                                30.9.2000  30.9.1999  31.3.2000
                                              (unaudited) (unaudited) (audited)
                                                      £m          £m        £m

Profit for the period                                32.8       34.5     73.9
Dividends                                           (18.6)     (16.0)   (51.9)


Retained profit for the period                       14.2       18.5     22.0
Translation differences                              12.0      (5.4)    (6.0)
New share capital subscribed (net of QUEST)           3.3        2.2      5.2


Net addition to equity                               29.5       15.3     21.2
Equity shareholders' funds at the beginning of      374.5      353.3    353.3
the period


Equity shareholders' funds at the end of the        404.0      368.6    374.5
period



6 Reconciliation of net cash flow to movement in
net debt / net funds


Increase (decrease) in cash                           0.1     (13.9)   (24.2)
Management of liquid resources                      (19.5)     (75.9)   (67.2)
Financing - loans                                    16.3    (131.4)  (125.3)


Change in net debt / net funds relating to cash      (3.1)    (221.2)  (216.7)
flows
Translation differences - net debt / net funds       (7.3)        4.9      0.3


Movement in net debt / net funds for the period     (10.4)    (216.3)  (216.4)
Net (debt) funds at the beginning of the period     (95.8)      120.6    120.6


Net debt at the end of the period                  (106.2)     (95.7)   (95.8)


Net debt at the end of the period comprises:
Cash at bank and in hand                              9.8       20.2     17.2
Overdrafts                                           (0.6)      (0.2)    (8.2)
Debts due within one year                           (34.9)     (11.3)   (25.4)
Debts due after more than one year                  (85.6)    (119.8)  (103.5)
Short-term investment deposits                         5.1       15.4     24.1


                                                   (106.2)     (95.7)   (95.8)


7 Principal exchange rates      6 months to       6 months to           Year to
                                  30.9.2000         30.9.1999         31.3.2000


Average for the period


Australian Dollar                      2.61              2.48              2.51
Euro                                   1.64              1.52              1.57
Japanese Yen                            162               187               178
US Dollar                              1.51              1.61              1.61

Period end                        30.9.2000         30.9.1999         31.3.2000


Australian Dollar                      2.73              2.52              2.63
Euro                                   1.68              1.55              1.67
Japanese Yen                            160               175               164
US Dollar                              1.48              1.65              1.60


8 Basis of preparation

The financial information has been prepared under the historical cost
convention and in accordance with applicable accounting standards, using the
accounting policies set out in the Annual Report for the year ended 31 March
2000.

The financial information included in this document does not comprise
statutory accounts within the meaning of Section 240 of Companies Act 1985.
The statutory accounts for the year to 31 March 2000 have been filed with the
Registrar of Companies. The report of the auditors was unqualified and did not
contain a statement under Section 237 (2) or (3) of the Companies Act 1985.
The interim financial information is unaudited but has been subject to a
limited review by KPMG Audit Plc.

Independent review report by KPMG Audit Plc to Electrocomponents plc

Introduction

We have been instructed by the Company to review the financial information set
out on pages 8 to 15 and we have read the other information contained in the
Interim Report and considered whether it contains any apparent misstatements
or material inconsistencies with the financial information.

Directors' responsibilities

The Interim Report, including the financial information contained therein, is
the responsibility of, and has been approved by, the Directors.  The Listing
Rules of the Financial Services Authority require that the accounting policies
and presentation applied to the interim figures should be consistent with
those applied in preparing the preceding annual accounts except where they are
to be changed in the next annual accounts in which case any changes, and the
reasons for them, are to be disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin 1999
/4: Review of interim financial information issued by the Auditing Practices
Board.  A review consists principally of making enquiries of Group management
and applying analytical procedures to the financial information and underlying
financial data and, based thereon, assessing whether the accounting policies
and presentation have been consistently applied unless otherwise disclosed.  A
review is substantially less in scope than an audit performed in accordance
with Auditing Standards and therefore provides a lower level of assurance than
an audit.  Accordingly, we do not express an audit opinion on the financial
information.

Review conclusion

On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 September 2000.

KPMG Audit Plc

Chartered Accountants

8 November 2000


Copies of the Interim Report will be sent to all shareholders shortly, and
will be available from Alison Cox at Electrocomponents plc, International
Management Centre, 5000 Oxford Business Park South, Oxford OX4 2BH, United
Kingdom.  Telephone [phone].  Fax [phone].  The report is also
available on our website: http://www.electrocomponents.com.