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FOR IMMEDIATE RELEASE:

PRYSMIAN ACQUIRES BUSINESS ASSETS OF INTERNATIONAL WIRE & CABLE COMPANY LTD IN NEW ZEALAND.

Milan, 28 August 2007. Prysmian Cables & Systems, a worldwide leading player in the cable industry, has reached an agreement to purchase the business assets of New Zealand cable manufacturer, International Wire & Cable Company Limited (IWC). The closing is expected to occur on September 3rd. This acquisition further strengthens Prysmian’s presence in the Asia Pacific region. In Australia, Prysmian already has a well established presence with 2 manufacturing plants supplying a wide range of power and telecommunications cables as well as accessories for joining and terminating power cables.

IWC have been producing power cables, with a particular expertise in aluminium/neutral screened cables, in New Zealand for more than 60 years and employ 65 people with approximate revenues of 20 million euros in 2006. The Prysmian investment will build on IWC’s existing infrastructure in the North and South Island’s of New Zealand and will add to their supply capabilities through the expanded product range and research & development facilities of the global Prysmian Group.

The acquisition of IWC’s Auckland operations will allow Prysmian to grow its market in New Zealand, particularly in Power distribution, whilst also exploiting Australian wind farm expertise.

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