Prysmian S.p.A., settlement of the offer for Draka’s shares tendered during the offer period

With reference to the public tender offer for all the outstanding ordinary shares (the Shares) of Draka Holding N.V. (Draka), at an offer price of Euro 8.60 in cash plus 0.6595 newly issued Prysmian ordinary shares for each Share (the Offer Price), launched on 5 January 2011 and declared unconditional on 8 February 2011 (the Offer), Prysmian announces that today it completed the instructions for the payment of the Offer Price for Shares tendered during the Offer period, which ended at 18:00 hours, Amsterdam time on 3 February 2011 (the Offer Period).

As already announced, during the Offer Period n. 44,064,798 Shares have been tendered for acceptance under the Offer, representing around 90.4% of Draka’s issued and outstanding ordinary share capital (excluding any treasury share held by Draka). Considering the tendered Shares, Prysmian paid to the Draka’s shareholders who accepted the Offer, an aggregate amount of Euro 378,973,735.24 and issued in their favor n. 29,059,677 new ordinary Prysmian’s shares.

In light of the criteria approved by the Shareholders’ Meeting of Prysmian, held on 24 January 2011, for the determination of the portion of Shares to transfer to the Company by way of contribution in kind, as of today n. 23,699,364 Shares have been transferred by way of contribution in kind. With this regard, Prysmian informs that, on 17 February 2011, have been duly filed with the Company Register of Milan the declaration, under article 2444, paragraph 1, of Italian Civil Code, together with the statement, under article 2343-quater, paragraph 3, of Italian Civil Code, confirming that no extraordinary or material circumstance which have negatively affected the value attributed to the assets contributed, has occurred during the period starting from 14 December 2010, date of the relevant Report of the Board of Directors of Prysmian, pursuant to art. 2441, paragraph 6 of the Italian Civil Code, art. 125-ter of Italian Legislative Decree n. 58 of 24 February 1998, and art. 70, paragraph 3 of the regulations adopted under Consob resolution n. 11971 of 14 May 1999.

This press release is made exclusively in compliance with, and pursuant to, the provisions of article 114 of the Italian Legislative Decree of 24 February 1998 n. 58, as subsequently amended (Italian Financial Act).

Prysmian
A leading worldwide player in the industry of high-tech cables and systems for energy and telecommunications, the Prysmian Group is a truly global company with sales in excess of € 3.7 billion in 2009 and a strong position in higher value-added market segments. With its two businesses, 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 39 countries, 56 plants in 24 countries, 8 Research & Development Centres in Europe, USA, South America and Asia, and around 12,000 employees. Specialising in the development of products and services designed to meet specific customer requirements, Prysmian’s key strengths include: a focus on Research & Development, the capacity to innovate products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.