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General Cable Reports Third Quarter Results; Adjusted EPS Of $0.60 Within Management’s Range Of Expectations; Operating Income Of $75.4 Million Exceeded Management’s Range Of Expectations; Announces Agreement To Acquire Prestolite Wire, LLC

Other income was $9.7 million in the third quarter of 2012 which primarily consists of $10.6 million of mark to market gains on derivative instruments accounted for as economic hedges which are used to manage currency and commodity risk on the Company’s project business globally and $0.9 million of foreign currency transaction losses.

Liquidity

On September 25 th, the Company completed the issuance of $600 million of 5.75% senior notes due in 2022. The proceeds of this issuance were principally intended to fund the call of the $200 million of 7.125% senior fixed rate notes due in 2017 and redeem or prefund the $355 million of 0.875% senior convertible notes due in 2013. Also during the third quarter, the Company amended its U.S. and Canadian asset-based revolving credit facility increasing the size to $700 million and extending its maturity date to 2017 principally to support the acquisition of Alcan Cable while maintaining the financial flexibility and liquidity to meet working capital requirements and for general corporate purposes.

Subsequent to the third quarter, the Company continued its balance sheet transition by calling all of the outstanding $200 million of 7.125% senior fixed rate notes due in 2017 on October 12 th and retiring all of its outstanding $11 million of 1.0% senior convertible notes due in 2012 on October 15 th.

Net debt was $811.6 million at the end of the third quarter of 2012, an increase of $103.5 million from the end of the second quarter of 2012. The increase in net debt is principally due to the funding of the acquisition of Alcan Cable North America partially offset by reductions of working capital due to normal seasonal demand patterns.

Brian J. Robinson, Executive Vice President, Chief Financial Officer and Treasurer, said, “We are pleased to have successfully completed our recent senior note issuance which solidifies our capital structure allowing us to play offense in a time of uncertainty. Our capital structure is in good order as we extended our maturity profile at attractive rates and terms while at the same time maintaining our global operating flexibility. We are well positioned to continue to execute on internal growth and product and geographic expansion opportunities, as well as fund working capital requirements. Also, the Board of Directors has renewed the Company’s Share Repurchase Program authorizing the repurchase of up to $125 million of General Cable’s common shares over the next twelve months. We will utilize this buyback authority in the context of economic conditions as well as the then prevailing market price of the common stock of the Company, regulatory requirements, and alternative capital investment opportunities. Under the previous and just expired authorization, we have repurchased $63.7 million or about 5% of the Company’s common shares over the past twelve months.”

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