IRS APPROVES SPLIT-OFF OF INGRAM MICRO FROM INGRAM INDUSTRIES
Ingram Micro Will Immediately Proceed With its Initial Public Stock Offering

SANTA ANA, Calif., Oct. 18, 1996
Ingram Industries Inc. announced today it has received approval from the U.S. Internal Revenue Service (IRS), to proceed with its split-off of Ingram Micro Inc. Based on the ruling, Ingram Micro will immediately resume the initial public offering (IPO) process. Ingram Micro filed a registration statement with the Securities and Exchange Commission in July, and the receipt of the IRS approval was a condition to the completion of the IPO.

Ingram Micro Inc., headquartered in Santa Ana, Calif., is the world's largest wholesale distributor of technology products and services, with 1995 sales of $8.617 billion. Worldwide sales for the first two quarters of 1996 totaled $5.543 billion. The company operates in 19 countries and distributes more than 36,000 products to over 100,000 resellers in 120 countries.

Attention editors: Ingram Micro has issued a separate announcement on this subject this morning.

Contact:

Kirsten Frosh
Media Relations
Ingram Micro, Inc.
714-566-1000 ext. 22727

Kim Strohm
Investor Relations
Ingram Micro Inc.
714/566-1000 ext. 24400

IRS APPROVES SPLIT-OFF OF INGRAM MICRO FROM INGRAM INDUSTRIES

NASHVILLE, Tenn., Oct. 18, 1996

Ingram Industries Inc. today announced it has received approval from the U.S. Internal Revenue Service to proceed with its split-off of Ingram Micro Inc.

Robert W. Mitchell, vice president and treasurer of Ingram Industries Inc., said the IRS action clears the way for completion of the first step of the reorganization announced in September 1995. He noted that Ingram Micro filed a registration statement with the Securities and Exchange Commission in July, relating to the initial public offering of its common stock. Receipt of the IRS approval was a condition to the closing of the reorganization and the IPO.

The full reorganization as proposed last year would form three legally independent businesses:

Ingram Micro Inc. -- The world's largest distributor of microcomputer products.

Ingram Entertainment Inc. -- A leading national distributor of home entertainment products, including prerecorded videocassettes for both the rental and video sales markets.

Ingram Industries Inc. -- To include Ingram Barge Co., Ingram Materials Co., Ingram Book Group and Permanent General Companies. Ingram Barge Co. is the third largest inland marine transportation company in the U.S. Ingram Book Group includes Ingram Book Co., the leading wholesaler of trade books and textbooks in America. Ingram Entertainment will remain a part of Ingram Industries until its split-off is completed, which is expected to occur no later than mid-1997.

Contact:

Keel Hunt
Ingram Industries
(615) 321-3110