Nexans and Pirelli awarded a contract worth 115 million euros, the 2003 most important contract in the Energy sector

A 30km long submarine link will interconnect Spain and Morocco power grids across the Gibraltar strait. Interconnection between European and African power grids will be improved.

Paris, December 10, 2003 � A consortium formed 50/50 by Nexans and Pirelli has been awarded a contract for realizing - for Moroccan power company L�Office National de l�Electricité and Spanish Red Electrica de España - a turn-key high voltage submarine link that will interconnect Spanish and Moroccan power grids across the Gibraltar Strait and is worth 115 million euros.

Gérard Hauser, Chairman and CEO of Nexans commented: �This contract confirms Nexans leadership and technological excellence in the Energy Cables and Systems sector and is the most important for submarine power industry in 2003�.

Actually, the project foresees doubling current submarine power transmission link � realized by the same consortium in 1997 � with overall 90 kilometers of new high voltage cables. The project is very strategic for the region, since it will significantly improve interconnection between power grids of Europe and North Africa: it will therefore allow for better peak load compensations in power demand in Europe, thus preventing black-out risks.

The contract foresees the manufacturing and laying of three oil filled paper submarine power cables, among the most technologically advanced, which � along with existing system - will transmit 1,400 MegaWatts at a voltage of 400 kiloVolts. The project will also include two telecommunication fiber optic cables � each 30 kilometers long � both for system control and broad band data transmission.

Nexans will manufacture and install with the cable ship Skagerrak one submarine power cable and one telecommunication cable. He will also deliver the associated terrestrial equipments. Nexans cables will be manufactured at Halden (Norway).

The project should be completed by the second half of 2005.

The project will be partially financed by European Bank of Investments (BEI) and African Bank of Development (AFDB).

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About Nexans

Nexans is the worldwide leader in the cable industry. The Group brings an extensive range of advanced copper and optical fiber cable solutions to the infrastructure, industry and building markets. Nexans cables and cabling systems can be found in every area of people's lives, from telecommunications and energy networks, to aeronautics, aerospace, automobile, railways, building, petrochemical, medical applications, etc. The program is completed by superconducting materials and components, cryoflex transfer systems and special machinery for the cable industry. With an industrial presence in 28 countries and commercial activities in 65 countries, Nexans employs 17,150 people and had sales in 2002 of euros 4.3 billion. Nexans is listed on the Paris stock exchange. More information on