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FOR IMMEDIATE RELEASE:

PRYSMIAN S.P.A. LAUNCHES SHARE BUYBACK PLAN

Milan, 8 October 2008. Prysmian SpA announces its intention to proceed with a share buyback plan under the terms approved by the Shareholders’ Meeting held on 15 April 2008. In this regard, the Board of Directors held on 7 October 2008 has vested the Chief Executive Officer and the Chief Financial Officer with adequate powers to purchase up to a maximum of 4 million ordinary shares by 31 December 2008.

Prysmian will communicate any daily transactions made, specifying the number of shares purchased, the average unit price and the total number of shares purchased since the start of the plan.

The Prysmian Group

A leading player in the industry of high-technology cables and systems for energy and telecommunication, the Prysmian Group is a truly global company with sales exceeding 5 billion euro in 2006 and a strong position in higher-added value market segments. With its two business, Energy Cables & Systems (submarine and underground cables for power transmission and distribution for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 35 countries, 54 plants in 21 countries, 7 Research & Development Centres in Europe, USA and South America, and over 12,000 employees. Specialising in the development of products and systems designed to meet clients' specific requirements, Prysmian's key strengths include a focus on Research & Development, the capacity to be innovative on products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange Blue Chip index.

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