General Cable Reports Fourth Quarter Results

General Cable Corporation (NYSE: BGC), one of the largest and most
globally diversified wire and cable companies, reported today revenues
and earnings for the fourth quarter. Reported diluted earnings per
share for the fourth quarter of 2007 were $0.84. Included in this
amount were charges related to the write-off of certain
telecommunications equipment and a LIFO inventory related charge.
Without these items, earnings per share would have been $1.00, an
increase of 49.3% over the reported earnings per share for the fourth
quarter of 2006 of $0.67.

Fourth Quarter Highlights

-- Earnings per share before charges were $1.00 compared to $0.67
in the prior year

-- Revenues of $1.30 billion, including $271.5 million from
acquisitions completed in the last twelve months, grew 41.0%
compared to the year ago period on a metal-adjusted basis

-- Operating income before the impact of $6.6 million of
telecommunications equipment write-downs and $6.7 million of
LIFO inventory related charges increased 61.7% from prior year

-- Completed acquisition of Phelps Dodge International
Corporation (PDIC); Integration right on track; Performance
strong

-- Awarded first North Sea submarine cable project, which is
expected to be in excess of $30 million in revenues

-- Indianapolis manufacturing plant received IndustryWeek´s Best
Plants Award

-- Completed offering of $475 million of 1% senior convertible
notes due 2012

Full Year Highlights

-- Revenues of $4.61 billion, including $436.2 million from
acquisitions completed in the last twelve months, grew 23.4%
compared to the year ago period on a metal-adjusted basis

-- Operating income before charges increased 59.9% from prior
year

-- Completed four strategic acquisitions and internal investment
targeting higher growth product lines (NSW submarine power and
fiber optic communications systems) and faster growing
economies (China, India, Latin America, Africa, and Asia)

-- Refinanced high yield notes in Q1, reducing interest rate by
approximately 200 basis points

-- Significantly expanded product design, sales and marketing
efforts in alternative energy markets throughout the world

Gregory B. Kenny, President and Chief Executive Officer of General
Cable, said, "I am extremely pleased with the strong financial results
that the Company continues to deliver for our shareholders. The
Company has succeeded in substantially expanding its global
manufacturing platform, improved its financial flexibility and
liquidity, and is reporting today record revenues and earnings. Over
the last twelve months the Company has completed several strategically
important acquisitions. These have given the Company a significant
presence in the developing economies of the world, access to important
undersea power and communication technologies, and exceptional
management experience. While we are proud of our roots in the United
States, today approximately 65% to 70% of our revenues are generated
outside the country."

Fourth Quarter Results

Net sales for the fourth quarter of 2007 were $1,297.8 million, an
increase of $377.1 million or 41.0% compared to the fourth quarter of
2006 on a metal-adjusted basis. This growth was principally due to the
Company´s exposure to global electrical infrastructure markets, the
acquisition of PDIC, as well as favorable foreign exchange
translation. Revenues from acquired businesses contributed $271.5
million in the fourth quarter. Without the benefit of revenues from
acquired businesses, revenues would have increased 11.5% on a
metal-adjusted basis.

Fourth quarter 2007 operating income before charges was $93.0
million compared to operating income of $57.5 million in the fourth
quarter of 2006, an increase of $35.5 million or 61.7%. Operating
margin before charges was 7.2% in the fourth quarter of 2007, an
increase of approximately 100 basis points from the operating margin
percentage of 6.2% in the fourth quarter of 2006 on a metal-adjusted
basis. This improvement was principally due to better price
realization in many of the Company´s product lines, cost improvements
from LEAN initiatives, and the continued profitable expansion of the
Silec, ECN, and NSW businesses. "We have also seen strong recovery in
our LAN cable products with new product designs and strong business
leadership. I am also pleased to see significant progress at our Silec
facility with respect to product throughput as well as their LEAN
manufacturing skills. The integrations of ECN and NSW have been
absolutely seamless and performance ahead of our investment case,"
Kenny said.

Market Update

European electric utility and electrical infrastructure markets
have remained robust with the exception of Spanish construction.
Operating earnings in the Company´s European business grew by 79.6% to
$44.0 million in the fourth quarter of 2007 compared to the prior
year. Operating margin was 8.6% in the fourth quarter, an increase of
250 basis points from the 6.1% reported in the fourth quarter of 2006
on a metal adjusted basis. Approximately 100 basis points of the
improvement relate to the favorable resolution of customer project
performance obligations during the fourth quarter. Revenues were up
28.4% in the quarter on a metal-adjusted basis. Before the impact of
acquired businesses, revenue growth was 19.8%. The Company´s internal
investment actions in Europe have focused on high growth areas of the
market such as submarine power cables, long-haul submarine fiber optic
communications systems, high voltage underground cable systems, and
products for the oil and gas industry. "Demand for these products
remains high and capacity tight in the market. The Company has
accelerated its investment plans in these high growth areas of the
market and expects solid returns over the next several years from
these actions. Recently the Company was awarded its first submarine
wind farm project, which is the first to be located in the North Sea.
We are also working on a significant long-haul submarine fiber optic
communication link which is currently in sea trials," said Kenny.

In North America, revenues increased 4.8% in the fourth quarter
compared to 2006 on a metal-adjusted basis. During the quarter, demand
for electrical infrastructure products as well as electronics,
networking, and assemblies remained strong. Operating earnings before
the impact of the telecommunications equipment write-off and LIFO
inventory charges increased $2.3 million as a result of continuing
strength in the Company´s electrical infrastructure and electronic
products which was partially offset by lower volumes and pricing for
certain utility cables.

During the quarter, the Company further rationalized its outside
plant telecommunications products manufacturing capacity due to the
continued declines in telecommunications cable demand. The Company has
shut a portion of its telecommunications capacity in its Tetla, Mexico
facility and has taken a pre-tax charge of $6.6 million to write-off
certain production equipment. This action will free approximately
100,000 square feet of manufacturing space, which the Company plans to
utilize for other cable products in the Americas.

Markets in Latin America, Sub-Saharan Africa, Middle East and Asia
Pacific are particularly strong. This includes the markets for the
Company´s historical operations in the South Pacific, Australia, India
and China. Revenue in this segment was up $240.7 million, principally
related to the acquisition of PDIC which was completed on October 31,
2007. Operating earnings, including costs associated with the step-up
of tangible and intangible assets and the related increase in
depreciation and amortization costs but without the impact of LIFO
inventory related charges, were $16.9 million, an increase of $14.3
million from the fourth quarter of 2006. "With the addition of PDIC
and its outstanding platform of assets and management, the Company is
pushing deeper into developing economies as well as introducing
General Cable to areas of the world where the Company has not
historically participated in a meaningful way. For instance, in the
Gulf Region, the Company was recently awarded certain energy cable
contracts that will more than double our presence in the region over
the next year," Kenny said.

Preferred Stock Dividend

In accordance with the terms of the Company´s 5.75% Series A
Convertible Redeemable Preferred Stock, the Board of Directors has
declared a regular quarterly preferred stock dividend of approximately
$0.72 per share. The dividend is payable on February 22, 2008 to
preferred stockholders of record as of the close of business on
January 31, 2008. The Company expects the quarterly dividend payment
to approximate $0.1 million.

First Quarter 2008 Outlook

"The Company continues to benefit from its strategic investments
in new products and geographies more than offsetting the ongoing
weakness in certain product lines in the developed economies. For the
first quarter, the Company expects to report earnings per share of
$1.05 or more compared to an adjusted earnings per share of $1.01 in
the first quarter of 2007, on revenues of approximately $1.5 billion,"
Kenny concluded.

Segment Information

The Company has provided additional historical financial
information by segment on the investor relations section of its
website at www.generalcable.com. The Company will provide additional
segment information in its annual report on Form 10-K for 2007 when
filed.

General Cable will discuss fourth quarter results on a conference
call and webcast at 8:30 a.m. ET tomorrow, February 13, 2008. For more
information please see our website at www.generalcable.com.

General Cable (NYSE:BGC) is a global leader in the development,
design, manufacture, marketing and distribution of copper, aluminum
and fiber optic wire and cable products for the energy, industrial,
and communications markets. Visit our website at www.generalcable.com.

Certain statements in this press release, including without
limitation, statements regarding future financial results and
performance, plans and objectives, capital expenditures and the
Company´s or management´s beliefs, expectations or opinions, are
forward-looking statements. Actual results may differ materially from
those statements as a result of factors, risks and uncertainties over
which the Company has no control. Such factors include the economic
strength and competitive nature of the geographic markets that the
Company serves; economic, political and other risks of maintaining
facilities and selling products in foreign countries; changes in
industry standards and regulatory requirements; advancing
technologies, such as fiber optic and wireless technologies;
volatility in the price of copper and other raw materials, as well as
fuel and energy and the Company´s ability to reflect such volatility
in its selling prices; interruption of supplies from the Company´s key
suppliers; the failure to negotiate extensions of the Company´s labor
agreements on acceptable terms; the Company´s ability to increase
manufacturing capacity and achieve productivity improvements; the
Company´s dependence upon distributors and retailers for non-exclusive
sales of certain of the Company´s products; pricing pressures in the
Company´s end markets; the Company´s ability to maintain the
uncommitted accounts payable or accounts receivable financing
arrangements in its European operations; the impact of any additional
charges in connection with plant closures and the Company´s inventory
accounting practices; the impact of certain asbestos litigation,
unexpected judgments or settlements and environmental liabilities; the
ability to successfully identify, finance and integrate acquisitions;
the impact of terrorist attacks or acts of war which may affect the
markets in which the Company operates; the Company´s ability to retain
key employees; the Company´s ability to service debt requirements and
maintain adequate domestic and international credit facilities and
credit lines; the impact on the Company´s operating results of its
pension accounting practices; volatility in the market price of the
Company´s common stock all of which are more fully discussed in the
Company´s Report on Form 10-K filed with the Securities and Exchange
Commission on March 1, 2007, as well as periodic reports filed with
the Commission.

TABLES TO FOLLOW

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General Cable Corporation and Subsidiaries
Consolidated Statements of Operations
(in millions, except per share data)
(unaudited)

------------------------- -------------------------
Three Fiscal Months Twelve Fiscal Months
Ended Ended
------------------------- -------------------------
December 31, December 31, December 31, December 31,
2007 2006 2007 2006
------------ ------------ ------------ ------------
Net sales $1,297.8 $925.3 $4,614.8 $3,665.1
Cost of sales 1,131.5 803.4 3,952.1 3,194.1
------------ ------------ ------------ ------------
Gross profit 166.3 121.9 662.7 471.0

Selling, general
and
administrative
expenses 86.6 64.4 296.6 235.1
------------ ------------ ------------ ------------
Operating income 79.7 57.5 366.1 235.9
Other expense (0.5) (0.8) (3.4) (0.1)
Interest income
(expense):
Interest
expense (18.7) (9.3) (48.4) (40.0)
Interest income 6.8 2.5 18.8 4.4
Loss on
extinguishment
of debt (0.2) - (25.3) -
------------ ------------ ------------ ------------
(12.1) (6.8) (54.9) (35.6)
------------ ------------ ------------ ------------

Income before
income taxes 67.1 49.9 307.8 200.2
Income tax
provision (20.6) (14.5) (99.4) (64.9)
Minority interests
in consolidated
subsidiaries (0.2) - (0.2) -
Equity in net
earnings of
affiliated
companies 0.4 - 0.4 -
------------ ------------ ------------ ------------
Net income 46.7 35.4 208.6 135.3
Less: preferred
stock dividends (0.1) (0.1) (0.3) (0.3)
------------ ------------ ------------ ------------
Net income
applicable to
common
shareholders $46.6 $35.3 $208.3 $135.0
============ ============ ============ ============

Earnings per share
------------------
Earnings per
common share -
basic $0.91 $0.70 $4.07 $2.70
============ ============ ============ ============
Weighted average
common shares -
basic 51.3 50.7 51.2 50.0
============ ============ ============ ============
Earnings per
common share-
assuming
dilution $0.84 $0.67 $3.82 $2.60
============ ============ ============ ============
Weighted average
common shares-
assuming
dilution 55.6 52.7 54.6 52.0
============ ============ ============ ============
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General Cable Corporation and Subsidiaries
Consolidated Statements of Operations
Segment Information
(in millions)
(unaudited)

------------------------- -------------------------
Three Fiscal Months Twelve Fiscal Months
Ended Ended
-------------------------- -------------------------
December 31, December 31, December 31, December 31,
2007 2006 2007 2006
------------ ------------ ------------ ------------
Revenues (as
reported)
-----------------
North America $500.0 $479.2 $2,243.7 $2,058.6
Europe and North
Africa 513.1 402.1 1,939.7 1,446.8
Latin America,
Sub-Saharan
Africa, Middle
East and Asia
Pacific 284.7 44.0 431.4 159.7
------------ ------------ ------------ ------------
Total $1,297.8 $925.3 $4,614.8 $3,665.1
============ ============ ============ ============

Revenues (metal
adjusted)
-----------------
North America $500.0 $477.1 $2,243.7 $2,100.4
Europe and North
Africa 513.1 399.6 1,939.7 1,475.5
Latin America,
Sub-Saharan
Africa, Middle
East and Asia
Pacific 284.7 44.0 431.4 164.5
------------ ------------ ------------ ------------
Total $1,297.8 $920.7 $4,614.8 $3,740.4
============ ============ ============ ============

Metal Pounds Sold
-----------------
North America 83.1 90.1 404.8 428.2
Europe and North
Africa 81.2 77.3 336.8 307.9
Latin America,
Sub-Saharan
Africa, Middle
East and Asia
Pacific 75.5 5.9 96.3 28.2
------------ ------------ ------------ ------------
Total 239.8 173.3 837.9 764.3
============ ============ ============ ============

Operating Profit
-----------------
North America $31.5 $30.4 $186.0 $128.9
Europe and North
Africa 44.0 24.5 162.4 101.9
Latin America,
Sub-Saharan
Africa, Middle
East and Asia
Pacific 10.8 2.6 24.3 5.1
------------ ------------ ------------ ------------
Subtotal 86.3 57.5 372.7 235.9
Corporate (6.6) - (6.6) -
------------ ------------ ------------ ------------
Total $79.7 $57.5 $366.1 $235.9
============ ============ ============ ============

Return on Metal
Adjusted Sales
-----------------
North America 6.3% 6.4% 8.3% 6.1%
Europe and North
Africa 8.6% 6.1% 8.4% 6.9%
Latin America,
Sub-Saharan
Africa, Middle
East and Asia
Pacific 3.8% 5.9% 5.6% 3.1%
Total Company 6.1% 6.2% 7.9% 6.3%

Capital
Expenditures
-----------------
North America $19.2 $9.7 $41.9 $23.5
Europe and North
Africa 51.1 13.7 97.7 44.6
Latin America,
Sub-Saharan
Africa, Middle
East and Asia
Pacific 9.4 1.2 14.0 3.0
------------ ------------ ------------ ------------
Total $79.7 $24.6 $153.6 $71.1
============ ============ ============ ============

Depreciation &
Amortization
-----------------
North America $8.6 $8.1 $34.3 $34.0
Europe and North
Africa 6.9 3.9 22.0 14.5
Latin America,
Sub-Saharan
Africa, Middle
East and Asia
Pacific 5.1 0.6 7.2 2.4
------------ ------------ ------------ ------------
Total $20.6 $12.6 $63.5 $50.9
============ ============ ============ ============
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