BICC Group Announces Sale of Worldwide Energy Cable Businesses to General Cable.

WEST NYACK, N.Y.--(BUSINESS WIRE)--April 7, 1999--

In North America, Combined Companies to Offer One of the Broadest

Product Ranges in the Wire and Cable Industry

BICC Cables Corporation today announced its parent, London-based BICC Group, has reached an agreement to sell its worldwide energy cable businesses, including all North American operations, to General Cable Corporation (NYSE:GCN), headquartered in Highland Heights, Kentucky, for (pound)275 million (US $440 million), subject to adjustment at closing. Consummation of the transaction is subject to BICC shareholder approval and corporate and regulatory approvals. The parties intend to complete the acquisition in the second quarter of 1999.

The acquisition will combine BICC's North American, European, Middle Eastern, Asia Pacific and African operations with General Cable's worldwide operations, creating the third largest wire and cable company in the world and the second largest in North America. The businesses to be acquired include 41 manufacturing facilities in 16 countries.

In North America, BICC is one of the leading producers of power, control, instrumentation, electronic, data, fiber optic and specialty wire products to serve utility, industrial, mining, OEM, shipboard, datacom, transportation and military customers. The acquisition will include the Company's three North American divisions -- BICC Utility Cables, BICC Brand-Rex and BICC Pyrotenax -- including the Company's 11 manufacturing facilities and two state-of-the-art technology centers.

"We are very pleased to become part of the highly-respected General Cable operations whose total focus is copper, aluminum and fiber optic products for the communications and electrical markets," said George N. Benjamin III, President and Chief Executive Officer of BICC Cables Corporation in North America. "The combination of these two leading companies will create a complementary range of products and services that will be unmatched."

"In North America the combination of our two companies will create incremental sales above what either company could generate separately," said Stephen Rabinowitz, Chairman, President and Chief Executive Officer of General Cable Corporation. "The infusion of talent and knowledge throughout the new organization combined with superior engineering and the industry's broadest product range provide a solid platform on which to build an exciting future."

General Cable has a complementary line of wire and cable products used in the distribution of electric energy and voice and data communications signals. General Cable sells its products worldwide through electrical, communications, electronic and specialty distributors; hardware, home center, and automotive retailers; original equipment manufacturers and telephone operating companies.

General Cable, which became publicly traded in May 1997, has 17 manufacturing facilities and five regional distribution centers and employs more than 4,700 associates worldwide. In 1998, General Cable reported net sales of $1.1. billion and operating income of $130 million.

BICC Cables Corporation and its predecessor companies have been leading producers of power, control, instrumentation, data, electronic, military cables and assembly, and fiber optic cables for over a century. The Company currently employs 2,500 people throughout North America.