<SUBMISSION>
<ACCESSION-NUMBER>0000950150-06-000013
<TYPE>DFAN14A
<PUBLIC-DOCUMENT-COUNT>2
<FILING-DATE>20060217
<DATE-OF-FILING-DATE-CHANGE>20060217
<EFFECTIVENESS-DATE>20060217
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>COAST DISTRIBUTION SYSTEM INC
<CIK>0000728303
<ASSIGNED-SIC>5013
<IRS-NUMBER>942490990
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DFAN14A
<ACT>34
<FILE-NUMBER>001-09511
<FILM-NUMBER>06630303
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1982 ZANKER RD
<CITY>SAN JOSE
<STATE>CA
<ZIP>95112
<PHONE>4084368611
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1982 ZANKER RD
<CITY>SAN JOSE
<STATE>CA
<ZIP>95112
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>COAST RV INC
<DATE-CHANGED>19880619
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>BELL INDUSTRIES INC /NEW/
<CIK>0000945489
<ASSIGNED-SIC>5065
<IRS-NUMBER>952039211
<STATE-OF-INCORPORATION>CA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DFAN14A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1960 E GRAND AVENUE SUITE 560
<CITY>EL SEGUNDO
<STATE>CA
<ZIP>90245
<PHONE>3105632355
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1960 E GRAND AVENUE SUITE 560
<CITY>EL SEGUDON
<STATE>CA
<ZIP>90245
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CALIFORNIA BELL INDUSTRIES INC
<DATE-CHANGED>19950519
</FORMER-COMPANY>
</FILED-BY>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>a17590dfdfan14a.htm
<DESCRIPTION>BELL INDUSTRIES, INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>dfan14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>
<BR>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Date of Report (Date of Earliest Event Reported):
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">February&nbsp;17, 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Bell Industries, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">California
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">001-11471
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">95-2039211</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction<BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">1960 E. Grand Avenue, Suite #560, El<BR>
Segundo, California
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">90245</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<BR>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Registrant&#146;s telephone number, including area code:
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">310-563-2355</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Not Applicable<BR>
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Former name or former address, if changed since last report</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#120;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;8.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Other Events.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On February&nbsp;17, 2006, Bell Industries, Inc. (the &#147;Company&#148;) issued a press release describing the
Company&#146;s response letter to Coast Distribution System&#146;s Board of Directors.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">February&nbsp;17, 2006 Press Release by Bell Industries, Inc.
</DIV>



<P align="center" style="font-size: 10pt">2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Bell Industries, Inc.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left"><I>February 17, 2006</I>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>&nbsp;&nbsp;/s/&nbsp;&nbsp;
John A. Fellows</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left"><I>John A. Fellows</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left"><I>President and Chief Executive Officer</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Exhibit&nbsp;Index
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated February&nbsp;17, 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="RIGHT" style="font-size: 10pt; margin-top: 0pt"><B>EXHIBIT 99.1</B>
</DIV>



<DIV align="center"><IMG src="a17590dfa1759000.gif" alt="BELL INDUSTRIES LOGO"></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">CONTACT:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Bell Industries, Inc.</B><BR>
John A. Fellows/Mitchell I. Rosen<BR>
310-563-2355

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>PondelWilkinson Inc.</B><BR>
Roger S. Pondel/Angie H. Yang<BR>
310-279-5980

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>BELL INDUSTRIES SENDS RESPONSE LETTER<BR>
TO COAST DISTRIBUTION SYSTEM&#146;S BOARD OF DIRECTORS</B>
</DIV>

 <BR>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;El Segundo, California &#150; February&nbsp;17, 2006 &#150; Bell Industries, Inc. (AMEX:BI) said today it has
sent a letter to the board of directors of The Coast Distribution System, Inc. (AMEX:CRV),
expressing its desire to meet with members of Coast&#146;s board or Coast&#146;s financial advisor to discuss
entering into negotiations to acquire the company. A copy of the letter is set forth below:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Bell Letter Dated February&nbsp;17, 2006</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Coast Distribution System, Inc.<BR>
350 Woodview Avenue<BR>
Morgan Hill, CA 95037<BR>
Attn: Board of Directors

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Let us begin by stating that we were disappointed to learn that a Special Committee of the
Board of Directors of The Coast Distribution System, Inc. (the &#147;Company&#148;) has rejected our
proposal. We were also quite surprised, to say the least, to hear the announcement on February&nbsp;3,
2006 that the Company responded to our offer to enter into a negotiated acquisition by adopting a
Shareholder Rights Plan. We do not believe such a response is constructive or in the best interest
of the Company&#146;s stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In our experience, the purpose of a Shareholder Rights Plan is to protect the Company&#146;s
stockholders from unfair or coercive takeover proposals. It appears that the Board of Directors has
misinterpreted our desire to enter into good-faith discussions regarding a negotiated transaction
as a hostile attempt to takeover the Company. On the contrary, our aim was and is to negotiate a
transaction on a friendly basis. If the Board of Directors or its financial advisor were willing to
meet with us and engage in a friendly process, we query what need would there be for the
change-in-control protection conferred by a Shareholder Rights Plan? We believe that the Board of
Directors is thwarting an opportunity for the Company&#146;s stockholders to unlock the full value of
their investment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our good-faith intentions are evidenced by the fact that we have substantially increased our
cash offer price and have expressed our willingness to shorten the period of due diligence and to
defer the exclusivity provisions until such time as we have entered into a definitive agreement.
Since the Company&#146;s announcement on January&nbsp;6, 2006 that it had retained Seven Hills Partners LLC
(&#147;Seven Hills&#148;) as its financial advisor, we have tried numerous times, albeit unsuccessfully, to
establish a dialogue with Seven Hills in order to discuss our proposal offer and to begin a due
diligence review. If Seven Hills was truly retained to fairly evaluate all offers, then why have
they continuously rebuffed our attempts to engage in meaningful discussions and failed to provide
us with any information despite our willingness to enter into a confidentiality agreement? In fact,
we have contacted Seven Hills eight times and have received no information or any indication that
we will ever be provided with information that a financial advisor would typically provide to an
interested purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are also troubled by the curious timing of the announcement of the Company&#146;s stock buyback
program and the idea that the Company is using the artificial increase in the price of the stock
due to the buybacks to make
our offer appear inadequate. As we have previously stated, we are
willing to consider circumstances that may justify a further increase in our offer.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has gone to great lengths to let stockholders and other interested parties know
that despite the adoption of the Shareholder Rights Plan, it is willing to consider a Qualified
Offer (as defined in the Shareholder Rights Plan), subject to several conditions designed to ensure
that the Company&#146;s stockholders are treated fairly. It is ironic, indeed, that although our offer
satisfies what we believe to be the most important of these conditions for stockholders, the
Special Committee of the Board of Directors continues to publicly state that our proposal is not in
the best interest of the Company&#146;s stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are prepared and eager to meet with the members of the Board of Directors or its financial
advisor at any time to negotiate a transaction. However, if we do not hear back from the Board of
Directors or the financial advisor, we will assume that the Company is not interested in engaging
in discussions. While we believe our offer provides a unique and timely opportunity for the
Company&#146;s stockholders to realize the full value for their shares, we trust that you will publicly
articulate the Company&#146;s current outlook for expected financial performance, dividend continuation
and product strategy so that all stockholders will be adequately informed and can appropriately
assess value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Bell Industries, Inc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bell is comprised of three diversified business units, Bell Tech.logix, Recreational Products
Group and J.W. Miller. Bell Tech.logix offers a comprehensive portfolio of technology products and
managed lifecycle services, including planning, product sourcing, deployment and disposal, and
support services. Bell&#146;s Recreational Products Group distributes after-market parts and accessories
primarily to the recreational vehicle and boating markets. J.W. Miller manufactures and sells
standard and custom magnetic components used in electronic applications for computer, medical,
lighting and telecommunication equipment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Forward-Looking Statements</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements in this press release may be &#147;forward-looking statements&#148; within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are based on current
expectations, estimates and projections about the company&#146;s business based, in part, on
assumptions made by management. These statements are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from what is expressed or forecasted
in such forward-looking statements due to numerous factors, including those described above and
those risks discussed from time to time in the company&#146;s filings with the Securities and Exchange
Commission, including <I>Factors That May Affect Future Results of Operations </I>included in the Form
10-K for the year ended December&nbsp;31, 2004 and <I>Management&#146;s Discussion and Analysis of Financial
Condition and Results of Operations </I>in the Form 10-K for the year ended December&nbsp;31, 2004 and the
Form 10-Q for the quarter ended September&nbsp;30, 2005. In addition, general industry and market
conditions and growth rates and general economic conditions could affect such statements.
Furthermore, there is the risk that this offer may not be accepted by The Coast Distribution System
or, if accepted, the transaction will not be consummated. Any forward-looking statements speak only
as of the date on which they are made, and the company does not undertake any obligation to update
any forward-looking statement to reflect events or circumstances after the date of this release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Additional Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investors and security holders are urged to read the disclosure documents regarding the
proposed merger as they become available because they will contain important information. Investors
and security holders will be able to obtain a free copy of any such disclosure documents as they
become available, as well as other filings containing information about Bell Industries and The
Coast Distribution System, without charge, at the SEC&#146;s internet site (http://www.sec.gov). Copies
of the disclosure documents and the filings with the SEC that will be incorporated by reference in
such disclosure documents can also be obtained without charge, as they become available, by
directing a request to PondelWilkinson Inc., as information agent for Bell Industries, Inc. at 1880
Century Park East, Suite&nbsp;700, Los Angeles, CA 90067, telephone:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">310-279-5980, e-mail address: investor@pondel.com.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The directors and executive officers of Bell Industries may be deemed to be participants in
the solicitation of proxies from The Coast Distributions Systems shareholders in respect of the
proposed merger. Information regarding the directors and executive officers of Bell Industries is
currently available in its proxy statement filed with the SEC by Bell Industries on April&nbsp;22, 2005.
Other information regarding the participants in such proxy solicitation and a description of their
direct and indirect interests, by security holdings or otherwise, will be contained in any
disclosure documents and any other relevant materials that will be filed by Bell Industries with
the SEC as they become available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any information concerning The Coast Distribution System contained in this document has been
taken from, or is based upon, publicly available information. Although Bell Industries does not
have any information that would indicate that the information contained in this document that has
been taken from such documents is inaccurate or incomplete, Bell Industries does not take any
responsibility for the accuracy or completeness of such information.
</DIV>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>a17590dfa1759000.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 a17590dfa1759000.gif
M1TE&.#EAN@`C`-4``*;*\.KJZN/CX\SL__'Q\<#`P-?7UYG,_YF9F<S,S+*R
MLMW=W186%E]?7RDI*4U-38:&AF9F9E5553DY.9:6EC/,S$)"0J"@I!P<'/CX
M^'=W=S,S,PP,#("`@"(B(F;,_P0$!&;,S`"9S#.9S/___P``````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````"'Y!```````+`````"Z`",```;_
MP-!H2"P:C\BD<LEL.I_0J'2:')`$%P.)RNUZO^!P6`0@D1`%B'C=-;O?\+A\
M3J_;[_@\@&Q6&!!L@5)YA(6&AXAP>V5O@HY.B9&2DX>+<(^82I2;G)UFEHU+
M(J.DI:-LIT<BD)ZMKH6@;DL`!+6VMP,`(ZM@(E9"164'3:_%QG.Q9DI\=R&\
M7KXDP$-\PTS'V-C)6TG5(R'@X14A5MQ(J^%"J4;1T[O"Q-GRKMO+9<[=5KI'
MM'(#N^Q^%?%V;9Y!3O6ZW5L2@L2`9T/N?(#8;B"\@F\$"#`38$$<CV8TBHP3
M8",<D&8((.B`((";DB)C$K@2TZ0;`BAKCG1C``($_P5R$IY;J*3APR)Q,LR$
MXZXB$8)+XC``8<8"B`8900`-`**KUPTNS3B@^J8`B`)]O':-8(:#6K4:2+SM
M.L$-!1`)2'"="R+LA+=HWPA5131)PSW4RIGY=ZIAJ,32+)*P%A7.6#,2NN8\
MJQ<$!`(=[Y(E816.V;P$KKK1`.("B04&%BP`(4&``0,N:>LM"4'U&1!:N%*P
M??NVF=Z!`TQ5Q$R60FD0!\YT]^;H4\=F*#NE=K'RF\LD'GA@P,&-`,Y<$;PQ
M`((MZ=%F3I.X`%_N!CCM\6-]@X$L`N"=`24'!G6Y89:`GS2GS',?&#838D,<
MT(@IHRAFW7;O3!;/=V2)-_\;!2&A!X)Z;WA`5FEEX?5;7B^%Y89O+TI@67F_
M!:?5'!C0:!YSC#@WE$3/*(@'+QA"I8EE'3(0'EGGH94>'!&<6)]\<H$PP7!S
MP&A&?@:"T($9_]D(00(%E%F`%B2(%@&"/%[RG%(9Q"GG4@X1V6,>3PGT5'='
M<FC&`TK*55>3G9'H1F]53:DB"00TH)9[;VA9Y5L/N!%F9W,52(("8WG%)@F#
ML7,/A:2,,--10MZ19V1[:HB1&^`!:@9]":3FY(APL&;&7Z8M^M(%&X!@@7[X
M35"``@H`>V.-`=[14U>!)7BG.82Q>B01=T91))])Q!%KH"3T)]>MAHI%8V:]
M:D'_P:</U"?INS(RR]6G'&F`TI;Q2NOFC^ZHHB=VH$;W33JK-L4M$MXF^=)5
M(I8[VY<D]&83";J&6]]=Q$::[Y;#RKLL'%Q!@%^E;H0J6;\!N2H"4T1&4W+!
MDE'6)ZP*KP9M9R#&U]5-(&#098'TB<Q1SQG'"`<#]WF,`&@!-!W65#;]5Z[)
MK:(LG;4`.W1`"/T\MHN>W+GJG1O+D<!KI#?NI18#+LXW%YV9@;#!5"!,+!?)
M+W;LAKAIJJCV6S:"@'17&P<\K3W6JC+"@F&K.A#8&<K<+1P&L`@;R`4LE<#F
MF]N=$@01:$!O`AI$L*8<"=Q+0NHG%>!2`)F;D4!QQ;$XGJOI':AN^+[5.D.J
M"(Y91TW6</R3LL%BSWS0\HA0'?8MT'L]$-<#U#+``,,(O&WRDS/OO2'.?WT'
MA-V8L@SD1G;__?KC"\E$"!7$+W_\U`CLA=56'\'^_G:$GXDC_`M@4-SWOP)&
M1(`(U)?T#/B(!";0?PP4@P,1",$(@F&"`JR@!:'QNPYZ\(,@#*$(1_C!#+U!
..<AM,H0I76`0ZF2$(`#L_
`
end
</TEXT>
</DOCUMENT>
</SUBMISSION>
