General Cable Completes Silec Acquisition

General Cable Corporation (NYSE:BGC) a leading globalsupplier of wire and cable products for the energy, specialty,industrial, and communications markets, announced today that it hascompleted its acquisition of the Silec energy cable business of SAFRANSA. The Company also announced that Grupo General Cable Sistemas,S.A., a wholly owned Spanish subsidiary of General Cable, whichpurchased Silec Cable, has secured both a term loan facility and arevolving credit facility, totaling 75 million Euros. This combinedfacility, which was arranged through Banco de Sabadell, SA, willprovide Euro denominated borrowings to partly fund the acquisitioncost of Silec Cable and for general corporate needs of the Europeangroup which now has pro-forma annual revenues approaching $900million.

General Cable paid approximately 66.4 million Euros at closingwhich represented 85% of the estimated purchase price, subject toadjustment under the terms of the definitive transaction agreement."We welcome all Silec Cable associates to General Cable and willimmediately begin to work with their management team to fully realizethe synergies created by this acquisition," said Domingo Goenaga, CEOof General Cable Europe.

Silec Cable, located in Montereau, France, began business in 1932,primarily to support the local energy and telecommunicationsinfrastructure. With several focused factories in a campus setting, itcurrently occupies a site of 100 acres, with approximately one millionsquare feet of manufacturing space under roof and approximately 1,000full time employees. The Company also operates seven distributioncenters in Europe and has a long history of technical achievementincluding pioneering the use of extruded insulations in very highvoltage cables.

About 60% of Silec Cable's 210 million Euros of revenue in 2004are linked to energy infrastructure. They are one of the leaders inEurope for energy distribution cables. In the high-voltage and extrahigh-voltage market, Silec is a recognized leader around the worldproviding the critical link to bring power from the grid into majorurban areas. They have products supporting 63KV up to 500KVunderground applications including state-of-the-art accessories suchas pre-molded joints and engineering services such as design,installation and complete turnkey project capabilities. Approximately85% of Silec's high voltage and extra-high voltage (HV/EHV) sales areexported around the world, with Silec Cable maintaining significantmarket positions in North and South America, Europe, the Middle East,and China. The business currently has a number of important projectsin backlog including a technically demanding 345KV cable system to beinstalled in the US and several 500KV cable systems for hydro powerplants in China.

Silec Cable's industrial and specialty business representsapproximately 35% of revenues. These products include armored, rigidand flexible industrial power cables and Low Smoke Zero Halogen fireresistant safety cables, specialty cables for the heavy dutymanufacturing market and products supporting oil, gas, andpetrochemical exploration and electric generating activities bothon-shore and off-shore. Silec Cable also has a small and highlyfocused copper and fiber communications business representing about 5%of their revenues, principally high-end data cables and patentedultra-compact uSHEATH optical cables which are very easy to install.

"The acquisition of Silec represents the latest step inpositioning General Cable as a global leader in cabling systems forthe energy exploration, production, transmission and distributionmarkets, which began with the 1999 acquisition of BICC Cable," saidGregory B. Kenny, President and Chief Executive Officer of GeneralCable. "General Cable now has over $1 billion of annual revenuesleveraged to energy infrastructure markets around the world," heconcluded.

The Spanish term loan of 50 million Euros is available in up tothree tranches, with an interest rate of Euribor plus 0.8% to 1.5%,depending on certain debt ratios. The term loan is repayable in 14semi-annual installments, maturing seven years following the draw downof each tranch. The revolving credit facility of 25 million Eurosmatures at the end of five years and carries an interest rate ofEuribor plus 0.6% to 1.0%, depending on certain debt ratios. Thecombined facility is subject to certain financial ratios, the mostrestrictive of which is net debt to EBITDA (earnings before interest,taxes, depreciation and amortization).

On a pro-forma basis including the acquisition of Silec Cable,General Cable would have annual revenues in excess of $2.5 billion andover 7,000 employees. General Cable is a leader in the development,design, manufacture, marketing and distribution of copper, aluminumand fiber optic wire and cable products for the energy, industrial,specialty and communications markets. More information about GeneralCable can be found at www.generalcable.com

Certain statements in this press release, including withoutlimitation, statements regarding future financial results andperformance, plans and objectives, capital expenditures, the Silecacquisition and the Company's or management's beliefs, expectations oropinions, are forward-looking statements. Actual results may differmaterially from those statements as a result of factors, risks anduncertainties over which the Company has no control. Such risk factorsare discussed in the Company's Report on Form 10-K filed with theSecurities and Exchange Commission on March 30, 2005, as well as inperiodic reports filed with the Commission.