General Cable Reports Third Quarter Results; EPS of $0.71

General Cable Corporation (NYSE:BGC) reported today revenues and
earnings for the third quarter. Revenues of $948.4 million were up 15%
on a metal-adjusted basis compared to the prior year. Net income for
the third quarter of 2006 was $37.1 million compared to adjusted net
income of $13.5 million in the third quarter of 2005. Earnings per
share on a diluted per share basis for the third quarter ended
September 29, 2006 was $0.71 compared to adjusted earnings per share
of $0.26 in the third quarter of 2005.

Third Quarter Highlights

-- Increased year-over-year third quarter operating margins by
approximately 290 basis points, on a metal-adjusted basis.

-- Acquired E.C.N. Cable Group; a Spanish producer of aerial
high-voltage and extra-high voltage transmission cables and
low and medium voltage insulated power cables.

-- Received IndustryWeek's 2006 Best Plants Award.

-- Reported cash flow from operations of $89 million for the
quarter.

Third Quarter Results

Net sales for the third quarter of 2006 were $948.4 million, and
represent an increase of $124.6 million or 15% compared to the third
quarter of 2005 on a metal-adjusted basis. Metal pounds sold increased
9.2% versus the third quarter of 2005. Acquired businesses added $99.8
million of net sales during the third quarter of 2006. The average
price per pound of copper in the third quarter was $3.54, an increase
of $1.84, or 108% from the third quarter of 2005, and $0.17 or 5% from
the second quarter of 2006. The average price per pound of aluminum in
the third quarter was $1.19, an increase of $0.32, or 37% from the
third quarter of 2005, and a decrease of $0.07 or 6% from the second
quarter of 2006.

Third quarter 2006 operating income was $65.8 million compared to
third quarter 2005 adjusted operating income of $32.9 million, an
increase of $32.9 million or 100%. Operating earnings as a percent of
net revenues were 6.9% in the third quarter of 2006 compared to a
metal-adjusted operating earnings percentage of 4.0% in the third
quarter of 2005, an increase of approximately 290 basis points. For
comparison purposes, we have added back to the 2005 third quarter
results pre-tax charges of $15.6 million associated with the closure
of certain of the Company's manufacturing facilities. These items
reduced reported diluted earnings per share by $0.23.

Operating earnings were up in each major geographic region and in
six of the Company's eight reported business segments. The improvement
in operating earnings was driven by increased factory utilization, and
a significantly improved pricing environment across most of the
Company's product lines and geographies, including a reduction in the
time to recover raw material inflation. "Price increases that were put
in place during the second quarter of 2006, as raw material prices
were rapidly escalating, have held during the third quarter reflecting
high industry capacity utilization rates as well as strong end
markets, particularly electric utility and electrical infrastructure
markets," said Gregory B. Kenny, President and Chief Executive Officer
of General Cable.

Markets Discussion

"The electric utility and certain electrical infrastructure market
segments continue to demonstrate strong demand for cables around the
world driven by increasing demand for new energy sources and renewed
interest in expanding and improving the reliability of the power
distribution and transmission infrastructure," Kenny said. "A recently
published study by the North American Electric Reliability Council
(NERC), detailed numerous findings including electric capacity margin
declines, limited transmission capacity for energy from areas of
surplus to areas of need, and transmission system expansion that
continues to lag demand growth," Kenny continued. "The solution for
many of these issues will involve increased investment in the
generation, transmission and distribution of electricity, setting the
stage for continued long-term growth in our businesses supporting
these markets."

Net sales for the Company's global electric utility business were
up 33% on a metal-adjusted basis from the third quarter of 2005 with
acquired revenues contributing about 21 points of the growth, or $56
million. North American transmission cable volumes, as measured by
metal pounds sold, were up 22% in the third quarter of 2006 compared
to 2005, reflecting our customers increasing investment in the
electric utility transmission grid. Operating earnings for the
Company's global electric utility businesses were up 64% to $29.2
million in the third quarter of 2006 versus 2005. As a percentage of
metal adjusted revenues, operating margins grew 160 basis points to
8.2% in the third quarter of 2006 compared to 2005. "The Company
continues to be successful in its efforts to further leverage its
technology and global sales and marketing teams in winning
high-voltage systems projects, with a major award pending. This award
follows the recent completion of a 345-kv solid dielectric cable
system on the west coast. This is the first application of this new
technology in the U.S. at this voltage range. For these projects,
General Cable provides not only cable connectors, but also a complete
set of services including engineering, installation supervision and
on-site jointing," Kenny said.

Net sales for the Company's global electrical infrastructure
business were up 28% on a metal-adjusted basis from the third quarter
of 2005 with acquired revenues contributing about 16 points of the
growth, or $40 million. The Company continues to leverage its global
sales and technology teams in the high-growth mining, oil, gas and
petrochemical markets by identifying new product opportunities for
these specialized applications. Operating earnings for the Company's
electrical infrastructure businesses were up seven-fold to $19.6
million in the third quarter of 2006 versus 2005. As a percentage of
metal-adjusted revenue, operating margins grew 530 basis points to
6.4% in the third quarter of 2006 compared to 2005. The increase in
operating margins for the Company's global electrical infrastructure
business is primarily a result of improved utilization of the
Company's manufacturing facilities, increasing end-market demand and
increased pricing for the Company's products in these markets.

The communications markets continue to show strength for
high-bandwidth data networking cables and systems, while demand for
outside plant telephone cable continues to decline. The decline in
demand for telephone cable experienced in the third quarter is
primarily a result of increasing fiber optic deployment at some
customers and was possibly exacerbated by high copper costs as well as
other competing voice and data networking technologies. Demand for
high-bandwidth data networking cables continues to accelerate. Net
sales for networking cables were up 38% in the third quarter of 2006
compared to 2005 as a result of improved end market demand, increased
market prices, and the addition of specialty application networking
cables acquired from Silec. Despite the lower telecommunication cable
sales, operating earnings for the Company's communications businesses
were $6.6 million, up 20% from the third quarter of 2005. This was
primarily a result of improved market pricing and a lower fixed cost
structure resulting from the closure of the Bonham, Texas facility in
August of 2005.

Selling, general and administrative expenses in the third quarter
of 2006 were $56.2 million compared to $42.6 million in the third
quarter of 2005. This increase is due principally to the addition of
Silec, a cable manufacturer and systems integrator, and Beru, both of
which were acquired in late 2005. We also saw increased variable
selling expenses on higher revenues, and associate incentive expenses
related to the Company's strong 2006 performance. Selling, general and
administrative expenses were 5.9% and 5.2% of metal-adjusted net sales
in the third quarter of 2006 and 2005, respectively.

The Company's effective tax rate for the third quarter of 2006 was
35.9%; slightly lower than the expected full year rate of 36.5% due to
an international deferred tax adjustment of approximately $0.3
million.

E.C.N. Cable Group, S.L.

During the third quarter, the Company completed the acquisition of
E.C.N. Cable Group, S.L. (ECN). ECN is located near Bilbao, Spain and
primarily manufactures energy cables. The acquisition further expands
the Company's European energy cable offering with high-voltage aerial
cables and increases the Company's capacity for low and medium-voltage
insulated power cable products used in electric transmission and
distribution lines. ECN, with annual revenues of approximately $70
million, will be quickly integrated and managed through the Company's
European headquarters in Barcelona, Spain. "This acquisition is timely
as we anticipate renewed investment in the aerial high voltage
transmission grid in Europe coupled with strong ongoing demand for
medium voltage utility products," 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 November 24, 2006 to
preferred stockholders of record as of the close of business on
October 31, 2006. The Company expects the quarterly dividend payment
to approximate $0.1 million.

Fourth Quarter 2006 Outlook

Commenting on the outlook for the fourth quarter of 2006, Kenny
said "Despite increased inventories and rebalancing by some
distributors who bought ahead of a rising copper market, demand and
pricing in many of our end markets continue to be strong going into
the seasonally slower winter months. In particular, we expect organic
metal-adjusted double-digit revenue growth versus the prior year for
our global Electric Utility business. Overall, for the fourth quarter
we expect revenues between $900 and $925 million and fully diluted
earnings per share of between $0.55 and $0.60, an increase of roughly
100% from the adjusted earnings per share of $0.29 in the fourth
quarter of 2005," Kenny concluded.

General Cable will discuss third quarter results on a conference
call and webcast at 8:30 a.m. ET tomorrow, October 31. For more
information please see our website at www.generalcable.com.

With $3.5 billion of annualized revenues and 7,700 employees,
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; the Company's ability to avoid
limitations on utilization of net losses for income tax purposes;
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 15, 2006,
as well as periodic reports filed with the Commission.