Hughes Supply Announces Pricing of 4,300,000 Share Common Stock Offering and $300 Million Debt Offering

Hughes Supply Announces Pricing of 4,300,000 Share Common Stock
Offering and $300 Million Debt Offering 


ORLANDO, Fla., Oct. 5  /PRNewswire-FirstCall/ -- Hughes Supply, Inc. (NYSE:HUG)
announced today that its offering of common stock, made by means of a
prospectus supplement pursuant to the Company's universal shelf registration
statement, has been priced at $30.00 per share. The offering consists of
4,000,000 shares by the Company and 300,000 shares by a trust of which David H.
Hughes, Chairman of the Company, is trustee and beneficiary. The Company has
also granted to the underwriters a 30-day option to purchase up to an
additional 645,000 shares to cover over-allotments.  Lehman Brothers is acting
as the bookrunner for the offering. Citigroup and Goldman, Sachs & Co. are
serving as joint lead managers, and Wachovia Securities is serving as
co-manager.

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A registration statement relating to these securities was filed with, and has
been declared effective by, the Securities and Exchange Commission. A copy of
the prospectus and prospectus supplement relating to the offering may be
obtained from the Securities and Exchange Commission's website at
http://www.sec.gov/ . This press release shall not constitute an offer to sell,
or the solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.

Hughes Supply also announced today details of a private placement of $300
million principal amount of senior notes due 2014. The senior notes will carry
an annual interest rate of 5.50% and will be issued 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.

Hughes Supply intends to use the net proceeds generated from both offerings
(approximately $411 million in the aggregate) 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. The offering of common stock and the offering of senior
notes are not contingent upon one another.

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 offering would be unlawful.

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/ .

"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 intention to consummate the issuance of the shares of
its common stock and the issuance of its senior notes, and the intended use of
proceeds.  The previously announced proposed acquisition by Hughes Supply, Inc.
of Southwest Power, Inc. and Western States Electric, Inc., and the proposed
sale of common stock and senior notes, are subject to conditions, and there can
be no assurance that Hughes Supply will complete the acquisition or the sale of
common stock or senior notes.  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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