Textron Financial: Newsroom: Press Release


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SYNNEX Information Technologies Teams with Textron Financial New Inventory Financing Program Offered

Fremont, CA -May 30, 2001 - SYNNEX Information Technologies, Inc., a global IT design-to-distribution services company, has implemented a new inventory financing program for resellers through Textron Financial Corporation. Textron Financial is a diverse commercial finance company, with one division dedicated exclusively to the financing of technology equipment.

Tom Harbin, Director of Credit and Collections at SYNNEX, commented, "We are excited about adding this program because it will further advance the financing opportunities for our valued customers. This inventory-financing program (also referred to as flooring) gives our customers more options and flexibility with inventory and accounts receivable financing. We understand the problems facing small businesses in today's economy and see Textron Financial's program as a welcomed alternative."

Jerry Britton, President of Textron Financial's Middle Market Group remarked, "We see the new relationship with SYNNEX as a significant opportunity to bring our proven services to the high-tech marketplace. Likewise, it will open many doors for SYNNEX' customers and help with distribution of their products."

John Reed, Senior Vice President and Division Manager of Textron Financial's Technology Finance Division added, "Our relationship with SYNNEX is a natural fit. Both companies are targeting the SMB market and can now offer something new to our many common prospects."

About SYNNEX
Founded in 1980 and headquartered in Fremont, CA, SYNNEX Information Technologies, Inc. provides a comprehensive range of design-to-distribution services to original equipment manufacturers (OEMs) and value-added resellers (VARs) on a global basis. The company has strong expertise in electronics manufacturing services, IT distribution support services and electronic commerce. SYNNEX works with leading industry suppliers in PCs and servers, motherboards, CPUs, memory, storage, networking, communication and component products. Additional information about SYNNEX may be found online at www.synnex.com.

About Textron Financial Corporation
Textron Financial is a diversified commercial finance company with $8.2 billion in managed receivables and twenty-two years of record earnings. Its market-aligned businesses provide lending and leasing 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 about the company is available at www.tfc.textron.com.

Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release.

SYNNEX and the SYNNEX logo are trademarks of SYNNEX Information Technologies, Inc. or its subsidiaries and should be treated as such. All rights reserved. All other company names mentioned herein are trademarks of their respective owners.