Hughes Supply Announces Closings of Common Stock and Debt Offerings

Hughes Supply Announces Closings of Common Stock and Debt
Offerings 


ORLANDO, Fla., Oct. 12  /PRNewswire-FirstCall/ -- Hughes Supply, Inc.
(NYSE:HUG) today announced that it has successfully completed the sale of
4,300,000 shares of common stock at a public offering price of $30.00 per
share.  This amount includes 300,000 shares sold by a trust of which David H.
Hughes, Chairman of the Company, is trustee and beneficiary. Lehman Brothers
acted as the bookrunner for the offering. Citigroup and Goldman, Sachs & Co.
served as joint lead managers, and Wachovia Securities served as co-manager.

(Logo:  http://www.newscom.com/cgi-bin/prnh/19990803/HUGLOGO )

A copy of the final prospectus and prospectus supplement relating to the
offering may be obtained from the Securities and Exchange Commission's website
at http://www.sec.gov/ , or from Lehman Brothers Inc., c/o ADP Financial
Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood,
NY 11717.

Hughes Supply also announced today that it has completed the private placement
of $300 million principal amount of its 5.50% senior notes due 2014. The senior
notes offering was made only to qualified institutional buyers under Rule 144A
under the Securities Act of 1933, as amended (the "Securities Act").  Hughes
Supply may redeem the senior notes at any time at a "make- whole" redemption
price.

The senior notes have not been registered under the Securities Act, or any
state securities laws, and unless so registered, may not be offered or sold in
the United States except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and applicable
state securities laws.

The aggregate proceeds generated by both offerings are $411 million, net of
underwriting fees, discounts and other estimated costs.  Hughes Supply intends
to use the net proceeds generated from both offerings for the acquisition of
businesses, including the recently announced proposed acquisition of Southwest
Power, Inc. and Western States Electric, Inc., the repayment of outstanding
borrowings under Hughes Supply's revolving credit facility, payment of
scheduled principal amortization and interest on Hughes Supply's existing
senior notes, capital expenditures, working capital needs, and other general
corporate purposes.

Hughes Supply, Inc., founded in 1928, is one of the nation's largest
diversified wholesale distributors of construction, repair and maintenance-
related products, with 493 locations in 38 states. Headquartered in Orlando,
Florida, Hughes employs approximately 9,100 associates and generates annual
revenues of nearly $4 billion. Hughes is a Fortune 500 company and was named
the #2 Most Admired Company in America in the Wholesalers: Diversified Industry
segment by Fortune Magazine. For additional information on Hughes, you may
visit http://www.hughessupply.com/ .

This press release does not constitute an offer to sell, or the solicitation of
an offer to buy, any security and shall not constitute an offer, solicitation
or sale in a jurisdiction in which such offer would be unlawful.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995:  Certain statements in this press release contain forward-looking
statements that are subject to the safe harbor created by the Private
Securities Litigation Reform Act of 1995. These statements are subject to
uncertainty and changes in circumstances. These forward-looking statements
include Hughes Supply's intended use of proceeds.  The previously announced
proposed acquisition by Hughes Supply, Inc. of Southwest Power, Inc. and
Western States Electric, Inc., is subject to conditions, and there can be no
assurance that Hughes Supply will complete the acquisition.  When used in this
press release, the word "intend" and similar words or phrases identify certain
of such forward-looking statements, which speak only as of the dates on which
they were made. The actual results, performance or achievements of Hughes
Supply Inc. could differ significantly from past results, and from future
results, performance or achievements expressed or implied in forward-looking
statements. Forward-looking statements are subject to risks and uncertainties
including, but not limited to, changed market, financial and business
conditions, success in integrating acquired businesses, and other factors
mentioned in Hughes Supply, Inc.'s SEC filings, including its Forms 10-Q and
10-K reports. Hughes Supply, Inc. does not have any obligation to publicly
update any forward-looking statements to reflect subsequent events or
circumstances. 

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DATASOURCE: Hughes Supply, Inc.



CONTACT:  Arleen Llerandi, Vice President, Investor Relations, Hughes

Supply, Inc., [phone]



Web site:  http://www.hughessupply.com/ 

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