Press Release: Tech Data Corporation
November 5, 2001
CLEARWATER, FL -- Tech Data Corporation (Nasdaq: TECD) has announced that it has established an enhanced new finance
program for its TechSelect members through Textron Financial Corporation's Technology Finance Division. The arrangement
with Textron offers inventory financing for its TechSelect customers with extended 45-day interest-free payment
terms.
The partnership allows Tech Data to expand its financing and credit options to customers serving the small- &
mid-sized business market. The 45- day interest-free payment term equates to a same-as-cash program in which customers
and businesses can focus on moving inventory without the burden of growing interest.
According to Mike Zava, vice president, U.S. credit services, ``Tech Data is constantly working on finance programs
for TechSelect members. By helping with their working capital requirements they can better focus on building incremental
sales opportunities. We are excited about this new program with Textron Financial and the value it will bring to
our TechSelect customers.''
John C. Reed, senior vice president and division manager for Textron Financial's Technology Finance Division, stated,
``We are excited to help support the relationship between Tech Data and its TechSelect members. We see this as
another significant opportunity to bring our different finance products and proven services to the marketplace.''
Tech Data has a wide variety of credit and financing programs available for businesses looking to achieve more
contracts and scalable credit. The program is one of several finance/credit options available from Tech Data. TD
Direct Pay allows customers convenient electronic invoice payment and Web- based account information. OneLeases(SM)
Equipment Leasing provides resellers the opportunity to expand technology solutions to include delivery fees, education,
technical services, and maintenance in payments.
For more information on Tech Data's finance/credit programs, call 800-237-8931, ext. 77692.
About TechSelect
Launched in September 1999, Tech Data's TechSelect program is a membership-based alliance of value-added resellers
(VARs) focused on the small- to mid-size business market. The program, which is supported by a dedicated business
unit, provides additional services and outsourcing support to VARs looking to broaden their U.S. market coverage
while reducing costs and enhancing their business management and technology expertise. Members of the network form
alliances with other technology resellers across the United States and receive access to certification and training
programs, special credit options and other incentives. For more information on TechSelect, resellers may call Tech
Data at 800-237-8931, extension 86402, or visit TechSelect on the company's Web site at www.techdata.com.
About Textron Financial Corporation
Textron Financial Corporation, a subsidiary of Textron Inc., is a diversified commercial finance company with over
$8 billion in managed receivables and twenty-two years of record earnings. Its market-aligned businesses provide
lending to small and middle market companies and financial services that include asset management, syndications,
portfolio servicing, and insurance brokerage. Textron Financial also provides specialty finance for the golf and
timeshare industries. Additional information is available at www.tfc.textron.com.
About Tech Data
Tech Data Corporation (Nasdaq: TECD), founded in 1974, is a leading global provider of IT products, logistics management
and other value-added services. Ranked 95th on the Fortune 500, the company and its subsidiaries serve more than
100,000 technology resellers in the United States, Canada, the Caribbean, Latin America, Europe and the Middle
East. Tech Data's extensive service offering includes pre- and post-sale training and technical support, financing
options and configuration services as well as a full range of award-winning electronic commerce solutions. The
company generated sales of $20.4 billion for its most recent fiscal year, which ended January 31, 2001.
SOURCE: Tech Data Corporation