INGRAM MICRO REPORTS THIRD QUARTER 1999 RESULTS IN LINE WITH EARLIER ESTIMATES

SANTA ANA , Calif., Oct. 28, 1999

Ingram Micro Inc. (NYSE:IM), the world's largest wholesale provider of technology products and services, today announced its financial results for the third quarter ended Oct. 2, 1999, in line with previous estimates the company made on Sept. 8, 1999.

For the quarter, the company posted net sales of $6.71 billion, up 18 percent over the same period a year ago. Net income was $17.6 million, or $0.12 per share, excluding $2.7 million pre-tax in reorganization costs incurred during the period related to streamlining plans the company outlined in March of this year. These results compare with the company's previously announced estimates of net income for the quarter of $15 to $21 million, or $0.10 to $0.14 per diluted share. Including the reorganization costs, net income for the quarter, was $15.8 million, or $0.11 per diluted share. In the third quarter of 1998, the company reported net income of $59.8 million, or $0.40 per diluted share.

"As expected, Ingram Micro's third quarter results were negatively affected by the difficult market conditions that are being experienced throughout our industry, including intense competitive pricing and increased reductions in vendor rebates and incentives, primarily in the United States," said Jerre L. Stead, chairman and chief executive officer.

"Despite these short-term issues, Ingram Micro continues to be well-positioned strategically," he said. "We continue to experience solid demand for our core products and services and pursue emerging opportunities in areas such as logistics outsourcing for our business partners. Increasing numbers of resellers, manufacturers and Internet retailers are aligning with Ingram Micro and other industry leaders in distribution to form strategic relationships to serve the technology market. Our experienced management team is focused on providing value-added services to our customers, increasing the efficiencies of our operations, and pursuing new growth opportunities during this industry transition."

For the first three quarters of 1999, net sales for the company grew 28 percent to $20.24 billion. Year-to-date through the third quarter of 1999, net income was $108.4 million, or $0.73 per diluted share, and compares to $172.0 million or $1.15 per diluted share for the same period in 1998.

For more information about Ingram Micro's third-quarter earnings, see the Consolidated Balance Sheet and Statement of Income; you'll need Adobe Acrobat Reader to view these documents.

About Ingram Micro Inc.

Ingram Micro Inc., headquartered in Santa Ana, Calif., is the world's largest wholesale provider of technology products and services, and a leader of assembly and integration services with sales of $26.5 billion for the past four reported quarters. The company and its subsidiaries operate in 34 countries and distribute more than 225,000 products to more than 140,000 resellers in 130 countries.

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