Phase One of Prysmian/Draka Integration Successfully Completed

MILAN, July 13, 2011 -

- New Organisational Structure Rolled
out

- Birth of Prysmian Group, €7 Billion
Turnover, 98 Plants in 50
Countries, 22,000 Employees

Prysmian, worldwide leader in the energy and telecom cables
industry, unveils its new organisational structure, marking an
important step forward in the integration with Draka, following the
closing of the acquisition in March and the delisting from the
Amsterdam Stock Exchange in April. Along with the new
organisational structure, which comes into effect from July, the
Group has set itself a new Mission and a new strategy that aims at
promoting both the Prysmian and the Draka commercial brands under
the new Prysmian Group corporate umbrella. 

“The launch of the new organisational structure - explains CEO
Valerio Battista - marks a fundamentally important step in the
integration process between Prysmian and Draka. We have put
together the best of the two companies, with the goal of designing
an organisation that is lean, efficient and fast in managing change
and promoting innovation while being able to stay close to
customers and markets. Now we have the right people in place and
the ideal conditions for achieving the annual earnings target of
between €530 and €580 million in ADJ Ebitda. This will also allow
us to start reducing the level of debt, which has risen due to the
acquisition”.

The new Group’s matrix structure organisation revolves around
two business units: energy cables and systems and telecom cables
and systems. Most of the product lines will be managed by both
geography and business, from building wires and underground power
transmission and distribution, to fibre optic and copper telecom
cables and special cables for industrial applications for renewable
energy and the oil & gas industry. The more globalised product
lines (submarine cables, optical fibre and telecom components,
cables for the automotive, transport and aerospace industries,
flexible pipes and umbilicals for the oil & gas industry,
special cables for elevators) will be managed cross-nationally by
business.

The new Group’s key people have also been appointed following an
assessment of Prysmian and Draka’s best resources. This new
management structure includes 300 top positions, from the Group
Chief Executive Officer’s staff functions, to the individual
country CEOs and headquarters directors of the various business
segments. The launch of the new organisational structure
effectively ratifies the birth of the new Prysmian Group, with €7
billion in turnover (pro-forma 2010), a presence in 50 countries
with 98 plants and 22,000 employees. At the same time as devising
the new organisation, the integration team has developed a new
Mission and the branding strategy that will accompany the Group to
market.

To support the sustainable supply of Energy and Information as
primary drivers in the development of communities, providing our
customers with superior cable solutions based on state-of-the-art
technology: these are the core elements of the new Vision and
Mission. The Group has also decided to retain and promote both the
Prysmian and Draka commercial brands, both of which have strong
recognition on their respective markets, at the same time as
creating the new Prysmian Group corporate brand.

Prysmian Group

Prysmian Group is world leader in the energy and telecom cables
and systems industry. With sales of some €7 billion (pro-forma 2010
Prysmian/Draka) and 22,000 employees across 50 countries and 98
plants, the Group is strongly positioned in high-tech markets and
provides the widest range of products, services, technologies and
know-how. In the Energy sector, Prysmian Group operates in the
business of underground and submarine power transmission cables and
systems, special cables for applications in many different
industrial sectors and medium and low voltage cables for the
construction and infrastructure industry. In the Telecom sector,
the Group manufactures cables and accessories for the voice, video
and data transmission industry, producing optical fibres, optical
cables and connectivity. Prysmian is listed on the Milan Stock
Exchange in the Blue Chip index.

Media
Relations               
Investor Relations
Lorenzo Caruso            
    Luca Caserta
Ph. +39-02-6449-1        
     Ph. +39-02-6449-1
lorenzo.caruso@prysmian.com    luca.caserta@prysmian.com

.