The Board of Directors of Prysmian S.p.A. has approved, at a meeting held today, the proposal received from Taihan Electric Wire Co. Ltd and its subsidiary Taihan Global Investment S.r.l.

The Board of Directors of Prysmian S.p.A. (“Prysmian”) has approved, at a meeting held today, the proposal received from Taihan Electric Wire Co. Ltd and its subsidiary Taihan Global Investment S.à r.l. (“Taihan”) dated 6 November, concerning certain limitations as to the shareholding and voting rights that may be held or exercised in Prysmian.
In particular, the Board has favorably considered Taihan’s intention not to exercise an active role in the management of the Company, in consideration of the activities carried out by it in competition with Prysmian.
Prysmian welcomes the entry as a new shareholder of an industrial group of primary standing and believes that the undertakings assumed by Taihan with the proposal accepted on the date hereof will allow Prysmian to maintain its absolute independence and autonomy including when evaluating any cooperation with the Taihan group itself.
The agreement between Prysmian and Taihan will become effective only upon completion of the relevant regulatory verifications.

Prysmian
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 innovative on products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange Blue Chip index.