Smith & Associates Names Michael Rutledge, CPA, as Chief Financial Officer

HOUSTON, TEXAS - (September 20, 2006) - Smith & Associates, the leading independent distributor of semiconductors and electronic components, announces the appointment of Michael Rutledge, CPA to the position of Chief Financial Officer. Rutledge brings nearly 15 years’ accounting and finance experience to the Smith & Associates senior management team.

As chief financial officer, Rutledge will oversee Smith & Associates’ global accounting and credit departments and work with the senior management team in reporting business results and improving effectiveness throughout the organization. Smith & Associates President & CEO Doug Kelly says, “we are pleased to have Michael join us as CFO. During his tenure in public accounting, Michael worked with technology and rapidly-growing companies, giving him the experience with entrepreneurial organizations that makes him an ideal fit at Smith.”

Rutledge received his Bachelor of Business Administration degree from Texas A&M University, then joined the accounting and professional services firm Ernst & Young, L.L.P., where he worked for 13 years. As a senior manager at Ernst & Young, Rutledge was involved with numerous public financings and worked with various technology organizations ranging from small startups to Fortune 50 companies, including Compaq Computer Corporation (now part of Hewlett-Packard).

After leaving Ernst & Young in early 2005, Rutledge joined MicroMed Cardiovascular, Inc. as Vice President, Controller, and Corporate Secretary. He was instrumental in that company’s public financing via a reverse merger. Most recently, Rutledge served as Corporate Controller, Financial Reporting for Core Laboratories N.V. Smith & Associates is pleased to welcome Michael Rutledge as Chief Financial Officer.

About Smith & Associates
Founded in Houston in 1984, Smith & Associates (www.smithweb.com) is the leading independent distributor of semiconductors and electronic components to manufacturers and resellers of high-technology and computer equipment. Smith is a leader in shortage sourcing and custom purchasing and inventory management solutions, and has the ability to deliver large quantities of components anywhere in the world with very short lead times.

A privately held company, Smith & Associates employs more than 350 people worldwide, with annual revenue in excess of US$500 million.

Smith’s world headquarters, logistics, and information hub in Houston is ISO 9001:2000 and ISO 14001:2004 certified. This location is supported by sales, logistics, and warehousing hubs in Amsterdam, Hong Kong, and Silicon Valley, in addition to sales and purchasing offices in Barcelona, Guadalajara, New York, Shanghai, and Seoul.

For more information or to reach a Smith representative 24 hours a day, please call

# # #

For more information, contact: