Exhibit 99.1

	NEWS
	5350 Tech Data Drive Clearwater, FL 33760 (727) 539-7429
FOR IMMEDIATE RELEASE Wednesday, August 27, 2003	SYMBOL: TECD TRADED: NASDAQ/NMS

Tech Data Reports FY2004 Second-Quarter Results

CLEARWATER, FL. — Tech Data Corporation, a leading provider of IT products and logistics management services, today announced results for the second-quarter ended July 31, 2003.

FY2004 Second-Quarter at a Glance
¨ Net Sales	$4.2 billion
¨ GAAP Net Income     Non-GAAP Net Income	$17.2 million $19.2 million
¨ GAAP Diluted EPS     Non-GAAP Diluted EPS	$.30 per share $.34 per share

Net sales in the second-quarter of fiscal 2004 totaled $4.2 billion, an increase of 4.6 percent compared to $4.0 billion in the second-quarter of the prior year and a 6.8 percent increase from the first quarter of the current year. On a regional basis, second-quarter net sales declined 10.8 percent in the Americas and increased 24.1 percent in Europe (2.8 percent on a local currency basis) from the prior year. Second-quarter net sales increased 6.6 percent in the Americas and 7.0 percent in Europe (.2 percent on a local currency basis) compared to the first quarter of the current fiscal year. Second-quarter results include a full quarter of operations from the company’s Azlan Group Limited (“Azlan”) acquired in March 2003.

Net income, based upon Generally Accepted Accounting Principles (“GAAP”), for the second quarter totaled $17.2 million, or $.30 per diluted share, compared with net income of $35.3 million, or $.60 per diluted share in the prior year. Second-quarter non-GAAP net income, which excludes special charges of $3.1 million ($2.0 million net of tax) related to the closure of the company’s U.S. education business, totaled $19.2 million, or $.34 per diluted share. Refer to the company’s statement regarding non-GAAP financial information and the related reconciliation of GAAP results to non-GAAP results located in this release and also located in the Investor Relations section of the company’s website at www.techdata.com.

Tech Data Reports Second-Quarter Results August 27, 2003 Page 2 of 6

“We were encouraged by the improving market conditions we experienced in the Americas during the second half of the quarter,” commented Steven A. Raymund, Tech Data’s chairman and chief executive officer. “We are very focused on further improving operating results, although weak European economic conditions may impede our short-term potential. Despite the challenges, we remain well-positioned with an increasingly diversified portfolio of technology products.”

Financial Highlights

• Effective with the first quarter of fiscal 2004, the U.S., Canadian and Latin American operations were combined to create the company’s Americas region. During the second-quarter, net sales in the Americas region totaled $2.0 billion or 48 percent of worldwide sales. Sales in the company’s European region totaled $2.2 billion or 52 percent of worldwide sales.

• Results for the second-quarter ended July 31, 2003 include a reclassification pursuant to Emerging Issues Task Force Issue No. 02-16 (“EITF 02-16”) “Accounting by a Customer (Including a Reseller) for Certain Consideration Received from a Vendor”. EITF 02-16 requires that, under certain circumstances, consideration received from vendors be treated as a reduction of cost of goods sold and not as a reduction of selling, general and administrative (“SG&A”) expenses. As a result, $10.6 million was reclassified from SG&A with $9.1 million of this amount being recorded as a reduction of cost of goods sold and $1.5 million deferred pending the sale of the related inventory. Year to date, $14.9 million has been reclassified from SG&A with $12.3 million of this amount recorded as a reduction of cost of goods sold and $2.6 million deferred pending the sale of the related inventory. The company expects the guidance to be applied to virtually all of its vendor arrangements by the end of fiscal 2004.

• Gross margin for the second quarter was 5.68 percent, an increase from 5.27 percent in the prior year second quarter and 5.29 percent in the first quarter of this year. The year-over-year and sequential increase in gross margin is largely the result of the inclusion of a full quarter of results from the company’s Azlan operations and the impact of the company’s adoption of
EITF 02-16, offset by a decline in gross margin resulting from the competitive pricing experienced during the period.

• Second-quarter SG&A expense was $207.1 million or 4.96 percent of sales, an increase from 3.88 percent in the prior year second quarter and 4.39 percent in the first quarter of this year. The year-over-year and sequential increase in SG&A is primarily the result of the inclusion of a full quarter of results from the company’s Azlan operations, the impact of the company’s adoption of EITF 02-16, and the cost associated with the harmonization and upgrade of the company’s European systems infrastructure. SG&A expense during the current quarter includes $5.1 million from incremental workforce reductions completed during the period as a result of widening the scope of the reductions beyond that anticipated in the company’s second-quarter outlook provided on May 28, 2003.

• Total debt to capital at the end of the second quarter was 28 percent compared to 32 percent at the end of the prior year second quarter.

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Tech Data Reports Second-Quarter Results August 27, 2003 Page 3 of 6

• Cash flow from operations for the six months ended July 31, 2003 was $251.6 million compared to $244.9 million for the six months ended July 31, 2002.

Non-GAAP Financial Information

The following reconciliation details the adjustments between results calculated using Generally Accepted Accounting Principles (“GAAP”) and non-GAAP information provided within this release. The non-GAAP data is included with the intention of providing investors a more complete understanding of our operational results and trends, but should only be used in conjunction with results reported in accordance with GAAP.

Reconciliation of Non-GAAP Financial Information
(In thousands, except per share amounts)
	Three months ended				Six months ended
	July 31				July 31
	2003		2002		2003		2002
GAAP net income	$	17,170	$	35,262	$	38,707	$	70,401
Closure of U.S. education business, net of tax		1,992		—		1,992		—
Non-GAAP net income	$	19,162	$	35,262	$	40,699	$	70,401
GAAP diluted earnings per share	$	.30	$	.60	$	.68	$	1.20
Non-GAAP diluted earnings per share	$	.34	$	.60	$	.71	$	1.20
GAAP diluted weighted average shares outstanding		57,123		62,809		56,951		62,629

Business Outlook

The following statements are based on current expectations and the company’s internal plan. These statements are forward-looking and, as outlined in the company’s periodic filings with the Securities and Exchange Commission, actual results may differ materially.

The outlook for the third quarter ending October 31, 2003, including expenses related to the harmonization and upgrade of the company’s European systems infrastructure, but excluding any restructuring or other special charges that may be incurred, is as follows:

• Net sales are expected to be in the range of $4.05 billion to $4.20 billion.

• Net income is expected to be in the range of $23 million to $26 million.

• Diluted earnings per share is expected to be in the range of $.40 to $.45.

(continued)

Tech Data Reports Second-Quarter Results August 27, 2003 Page 4 of 6

Forward-Looking Statements

Certain matters discussed in this news release are forward-looking statements, based on the company’s current expectations that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include the following: intense competition both domestically and internationally; narrow profit margins; inventory risks due to shifts in market demand; dependence on information systems; credit exposure due to the deterioration in the financial condition of our customers; the general economy including the length and severity of the current economic downturn; the inability to obtain required capital; potential adverse effects of acquisitions; fluctuations in interest rates, foreign currency exchange rates and exposure to foreign markets; the impact of changes in income tax legislation; product supply and availability; dependence on independent shipping companies; changes in vendor terms and conditions; acts of war or terrorism; exposure to natural disasters; potential impact of labor strikes; volatility of common stock; and the accuracy of forecast data. Additional discussion of these and other factors affecting the company’s business and prospects is contained in the company’s periodic filings with the Securities and Exchange Commission, copies of which can be obtained at the company’s investor relations website at www.techdata.com. All information in this release is as of August 27, 2003. The company undertakes no duty to update any forward-looking statements herein to actual results or changes in the company’s expectations.

Webcast Details

Tech Data will be discussing its second-quarter results along with its outlook for the third quarter on a conference call today at 4:30 p.m. (EDT). A webcast of the call will be available to all interested parties and can be accessed at www.techdata.com. The webcast will be available for replay until the close of business on Wednesday, September 3, 2003.

About Tech Data

Tech Data Corporation (NASDAQ/NMS: TECD), founded in 1974, is a leading global provider of IT products, logistics management and other value-added services. Ranked 117^th 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 technical support, financing options and configuration services as well as a full range of award-winning electronic commerce solutions. The company generated sales of $15.7 billion for its most recent fiscal year, which ended January 31, 2003.

FOR MORE INFORMATION CONTACT:

Jeffery P. Howells, Executive Vice President and Chief Financial Officer

727-538-7825 (jhowells@techdata.com)

or

Danyle L. Anderson, Director of Investor Relations and Shareholder Services

727-538-7866 (danderso@techdata.com)

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Tech Data Reports Second-Quarter Results August 27, 2003 Page 5 of 6

TECH DATA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)

(In thousands, except per share amounts)

	Three months ended						Six months ended
	July 31,						July 31,
	2003			2002			2003			2002
Net sales Cost of products sold	$	4,178,751 3,941,333		$	3,996,719 3,786,046		$	8,092,608 7,648,030		$	7,917,139 7,497,574
Gross profit Selling, general and administrative expenses		237,418 207,090			210,673 155,248			444,578 378,947			419,565 309,193
Operating income before special charges		30,328			55,425			65,631			110,372
Special charges		3,065			—			3,065			—
Operating income after special charges		27,263			55,425			62,566			110,372
Interest expense, net		3,438			6,454			7,320			12,801
Net foreign currency exchange gain		(611	)		(3,621	)		(854	)		(7,465	)
Income before income taxes		24,436			52,592			56,100			105,036
Provision for income taxes		7,266			17,330			17,393			34,635
Net income	$	17,170		$	35,262		$	38,707		$	70,401
Diluted earnings per share	$	.30		$	.60		$	.68		$	1.20
Diluted weighted average shares outstanding		57,123			62,809			56,951			62,629

Tech Data Reports Second-Quarter Results August 27, 2003 Page 6 of 6

TECH DATA CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET (UNAUDITED)

(In thousands)

	July 31,		January 31,
	2003		2003
ASSETS
Current assets:
Cash and cash equivalents	$	226,570	$	157,191
Accounts receivable, net		1,745,203		1,714,902
Inventories		1,078,907		997,875
Prepaid and other assets		146,728		108,150
Total current assets		3,197,408		2,978,118
Property and equipment, net		154,378		136,689
Excess of cost over acquired net assets, net		92,626		2,966
Other assets, net		170,553		130,245
	$	3,614,965	$	3,248,018
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Revolving credit loans	$	253,362	$	188,309
Accounts payable		1,217,570		1,073,357
Accrued expenses		382,158		317,169
Total current liabilities		1,853,090		1,578,835
Long-term debt		314,531		314,498
Other liabilities		16,155		16,155
Total liabilities		2,183,776		1,909,488
Total shareholders’ equity		1,431,189		1,338,530
Total liabilities and shareholders’ equity	$	3,614,965	$	3,248,018