NU HORIZONS REPORTS FINANCIAL AND OPERATING RESULTS FOR THE SECOND QUARTER OF FISCAL YEAR 2004

MELVILLE, NY, October 2, 2003 --- Nu Horizons Electronics Corp. (Nasdaq/NM: NUHC), a leading distributor of active and passive electronic components today reported financial and operating results for the second quarter and six months ended August 31, 2003.

Net sales for the quarter ended August 31, 2003 were $80.0 million compared to $80.3 million for the comparable period last year. Net loss for the quarter was $623,000 or $0.04 per share on 16,681,145 basic shares outstanding, compared with net income of $254,000 or $0.02 per share on 16,646,868 basic shares outstanding ($0.02 per share on 16,714,882 diluted shares) in the same period last year.

For the six months ended August 31, 2003, net sales decreased to $152.8 million from $155.3 million in the comparable period last year. Net loss for the first half of fiscal 2004 was $1,454,000 or $0.09 per share on 16,678,093 basic shares outstanding, compared with net income of $262,000, or $0.02 per share on 16,641,658 basic shares outstanding ($0.02 per share on 16,783,837 diluted shares) in the year-earlier period.

Arthur Nadata, president and chief executive officer of Nu Horizons, said, “Sales were flat for the three month period and down marginally for the six month period year over year. We are encouraged by the sequential quarterly improvement in our sales volume, which increased $7.2 million from $72.8 million to $80.0 million.

Nadata continued, “This sequential sales growth came entirely from our Nu Horizons Asia Pacific and Titan Supply Chain Services operations, with our domestic core business remaining flat. Those operations generally yield lower gross margins than those available to our North American core business. As a result, our overall gross margin fell to 18.0% for the quarter from 19.3% in the sequential prior quarter with no reduction in domestic gross margin.

Nadata concluded, “Continuing slow demand in the component marketplace coupled with poor near term visibility makes it difficult to estimate our overall sales volume and earnings for the next several quarters. Nevertheless, we believe that through our continuing focus on our ‘design in’ component sales strategies and continuing efforts to penetrate the Asian marketplace and expand our global capabilities, we will continue to move forward during this downturn and be well positioned to profit from an eventual market recovery.”

A conference call to further discuss earnings will be held today at 4:15 PM ET. The call can be accessed by dialing (800) 915-4836, (international, dial 1-973-317-5319). A rebroadcast of the call will be available after the call, beginning at 7:00 pm ET at (800)-428-6051 (international, dial 973-709-2089) confirmation code 307564 . A webcast of the call will also be available, online live, at www.nuhorizons.com. A transcript of the webcast will remain available on the website for a period of twelve months, beginning one week after the call. In connection with the conference call, Nu Horizons has posted on its website certain information regarding its second quarter results.

Nu Horizons is a national distributor of high technology electronic components, which provide innovative, total semiconductor solutions through products and technologies that are faster, smaller and lower powered. Nu Horizons was established in 1982 and currently has 35 branch and subsidiary offices located in the U.S., Asia and Europe. For more information, visit the Nu Horizons’ home page at http://www.nuhorizons.com.

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Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending for electronic products, the amount of sales of the Company’s products, the competitive environment within the electronics industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company’s expansion efforts, economic conditions in the semiconductor industry and the financial strength of the Company’s customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission.