1. The attached slides were used at the Analyst Presentation by John Hirst and Andrew Fisher on the 9th September 2003. The slides could be incomplete without the oral commentary.

2. Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the United States Private Securities Litigation Reform Act of 1995: The U.S. Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release contains certain forward-looking statements relating to the business of the Group and certain of its plans and objectives, including, but not limited to, future capital expenditures, future ordinary expenditures and future actions to be taken by the Group in connection with such capital and ordinary expenditures, the introduction of new information technology and e-commerce platforms, the expected benefits and future actions to be taken by the Group in respect of certain sales and marketing initiatives, operating efficiencies and economies of scale. By their nature forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Actual expenditures made and actions taken may differ materially from the Group's expectations contained in the forward-looking statements as a result of various factors, many of which are beyond the control of the Group. These factors include, but are not limited to, the implementation of cost-saving initiatives to offset current market conditions, the ability to recruit and retain management personnel, integration of new information systems, continued use and acceptance of e-commerce programs and systems and the impact on other distribution systems, the ability to expand into new markets and territories, the implementation of new sales and marketing initiatives, changes in demand for electronic, electrical, electromagnetic and industrial products, rapid changes in distribution of products and customer expectations, the ability to introduce and customers' acceptance of new services, products and product lines, product availability, the impact of competitive pricing, fluctuations in foreign currencies, and changes in interest rates and overall market conditions, particularly the impact of changes in world-wide and national economies.

3. Second quarter and half year results For the period ended 3rd August 2003

4. Agenda Andrew Fisher  Half year financial results John Hirst  Strategy and divisional review

5. Group Finance Director Andrew Fisher

6. Financial Summary 26 weeks ended 3rd August 2003 Sales £390.6m - up 3.1% Operating profit £36.4m - operating margin 9.3% (before goodwill amortisation and one off branding costs) No evidence of improvement in major markets Investment in working capital to support product range expansion Net debt at £228.9m - interest cover 4.9 times Unchanged interim dividend

7. Financial Summary Group * Continuing businesses at constant exchange rates ** Gross margin is measured after net costs of freight, packaging, discounts and inventory adjustments *** Before goodwill amortisation and one-off branding costs

8. Like for like sales per day growth

9. 2001/22002/3 $m MDD Americas SPD and year on year growth rates 2003/4

10. 2001/22002/3 £k MDD Europe & Asia Pacific SPD and year on year growth rates (excluding BuckHickman InOne) 2003/4

11. 2001/22002/3 £k MDD UK SPD and year on year growth rates (excluding BuckHickman InOne) 2003/4

12. 2001/22002/3 £k MDD BuckHickman InOne SPD and year on year growth rates 2003/4

13. 2001/22002/3 £k MDD Mainland Europe & Asia Pacific SPD and year on year growth rates 2003/4

14. 2000/1 2001/2 £k E-commerce SPD - Restated prior year & EDI 2003/42002/3

15. Financial Summary Group * Continuing businesses at constant exchange rates ** Gross margin is measured after net costs of freight, packaging, discounts and inventory adjustments *** Before goodwill amortisation and one-off branding costs

16. 2000/12001/2 Gross margin progression 2002/3 MDD (excl BHIO) BHIO Note : Gross margin is measured after cost of freight, packaging, discounts and inventory adjustments 2003/4

17. Financial Summary First half incremental SG&A costs

18. Financial Summary Industrial Products Division * Continuing businesses at constant exchange rates

19. Profit and loss account Second quarter and first half to 3rd August 2003

20. Taxation

21. Summarised cash flows Second quarter and first half to 3rd August 2003 £m 2003/4 Q2Q1 H1 Operating profit16.416.3 32.7 Depreciation (net of gains on disposals) 4.7 4.4 9.1 Amortisation of goodwill 0.6 0.7 1.3 Net pension credit (1.4) (1.4)(2.8) Working capital (8.9)(5.7) (14.6) Operating cash flow11.414.3 25.7 Net capital expenditure (4.4)(3.5)(7.9) Interest & preference dividend (9.9)(0.4) (10.3) Tax (2.6)(4.2)(6.8) Free cash flow (5.5) 6.2 0.7

22. Debtor days 2001/22002/3 Days 2003/4

23. 2001/2 £m Inventory 2002/3 At 2003/4 Q2 end exchange rates 2003/4 Liege warehouse Newark InOne new product

24. £m 2003/4 Front office systems 3.0 IT 2.2 Liege warehouse 1.4 Other 2.7 Total 9.3 Sale of fixed assets (1.4) Net capital expenditure 7.9 Capital expenditure

25. Movement in net debt £m First half Opening net debt(209.2) Free cash flow 0.7 Ordinary dividends (18.1) (17.4) Disposal of business 0.8 Capital retirement (2.3) Translation (0.8) Closing net debt(228.9) US$ Senior Notes due 2006, 2010 & 2013(236.1) Other loans (25.4) Cash and short term deposits 32.6 (228.9)

26. Debt profile - - - - - - Amount drawn at 3 August 2003

27. Group CEO John Hirst

28. What we’ve done - Talent, Technology and Service Talent  Laurence Bain appointed to Board, Stephen Canham - MD, Europe & Asia Pacific  Enhanced leadership quality Technology  Product and customer data bases  Publication management system  Siebel CRM systems in UK/US - others to follow  eCommerce - eProcurement flexibility  Information for customers and suppliers

29. Service and Services Logistics simplification in Americas and Europe Focus on product ranges and service levels Development of new services  VMI/Stockroom solutions  Product Find - NIC sourcing  Product Watch - obsolescence  eProcurement and all during possibly the longest down turn in the history of electronics industry

30. Further Actions Portfolio rationalisation Maintenance Inc. Acquisition Merkelbach Entry to new markets Mexico, China, Austria, Italy, Spain Key account focus Vauxhall, Rolls-Royce, Lockhead, successes Motorola, etc. Market segmentation H&S, Government, Education, Design Engineers Rebranding InOne

31. Market trends - as differentiation increases Differentiation Profits Commodity Product Service Customer experience

32. Our Aim: Through the quality of the customer experience build closer relationships Core proposition Broad range of products Always in stock Swift and reliable delivery Value added services eCommerce (web and eProcurement) Vendor managed inventory Product Watch - “obsolescence” Product Find - sourcing and many more To WIN the hearts and minds of the engineers AND the corporation

33. Our Aim: Through the combination of Premier Farnell and customers’ technology Enable customers to:  Drive down their total procurement costs  Increase their productivity and efficiency  Spend more of their time on core tasks Thus delivering  Economic benefit  Peace of mind Appropriate for all customers - large and small

34. Progress - First half IPD  Akron European and Australia successes OEM market strong in first half New product development continues  TPC Sales per day +3.4% in difficult market New products and Mexican sales progress  KENT Progress in most countries New products success

35. Progress - First half MDD  Newark InOne Direct Ship in Europe and Asia and Farnell InOne in Americas  Re-branding plans smoothly implemented  CRM software - tangible benefit  7 globally managed accounts  Punch out for Motorola - China

36. Progress - First half MDD - Americas  Sales volatile in difficult market (SPD -3.4%) (Jan-June NEDA; semis -6%; overall -4%)  US Government sales +17%  254 Stockrooms Managed  130 eProcurement partnerships McCain, Proctor & Gamble, Daimler Chrysler + 48 potential  42K new products - semi’s, passives and electromechanical  Siebel implemented training proceeding campaigns underway

37. Progress - First half MDD - Americas  Mexico and Brazil sales progress  MCM sales growth in Q2

38. Progress - First half MDD - Europe & Asia Pacific  Market remains difficult - SPD +8.4%  UK SPD +10.8%, BHIO +23.1%  Mainland Europe - SPD +2.3% increases in Germany and Netherlands  Asia - SPD +15.1%, Australasia - SPD +2.9%  Major account sales up in many countries UK+112%  Holland +8% France+ 19%  Australia +6%  H&S segment sales +42%

39. Progress - First half MDD - Europe & Asia Pacific  Siebel - benefits now accruing to Farnell InOne UK business  Website - SPD +75%  168 UK Stockrooms managed  eProcurement partnerships 121 (59 potential) Pirelli, TNO, Disneyland  Liege on schedule for full operation in September

40. Outlook No evidence yet of improvement in North America European markets still weak Focus on customer experience  service  value added services  product range Control of costs Ready for 2004

41. Summary Extensive capabilities in place Use of CRM to develop sales Major accounts developing using services 252 eProcurement partnerships achieved  100+ in discussion  Stockrooms managed Americas 254 Europe & Asia Pacific 168 Segment progress Absorbed £5 million of fixed cost Poised for market improvement