Pirelli and Nexans awarded a 100 million euros contract in Tunisia

Construction of new power lines will strengthen national grid

Milan-Paris, October 24, 2003 � A consortium formed by Pirelli Energy Cables and Systems and Nexans has been awarded a �turn-key� contract by STEG � Société Tunisienne de l�Electricité et du Gaz to provide and install underground high voltage cables and accessories for new power lines in the Tunis area and Bizerte. The project, which is worth 100 million Euros, will continue to improve and strengthen Tunisia�s power transmission grid.

Together Pirelli and Nexans - world leaders in the energy cables sector - will create new underground power lines that will interconnect substations in Tunisia�s main development areas. These investments will improve the grid�s reliability and power transmission capacity and reduce the risk of further black-outs.

The contract, which will be lead by Pirelli, involves the supply and installation of polyethylene XLPE high voltage cables � operating at 90 and 225 kV � related accessories and all local installation, testing and activation activities. The project, which will start in the fourth quarter of 2003 and will be completed by the end of 2005, will utilize cables produced in Pirelli�s French plant and Nexans� Belgian plant.

The project further confirms the leadership of Pirelli and Nexans in the North Africa area: already in the past three years, the two companies have signed individual contracts with many energy operators and installed cables and accessories worth more than 200 million Euros.

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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 http://www.nexans.com

About Pirelli

Established in 1872, Pirelli & C. is a global producer of Tyres, Telecom Cables and Systems and Energy Cables and Systems, sector where it has a worldwide leadership. Pirelli is present also in the Real Estate sector through the subsidiary Pirelli & C. Real Estate, one of the European leading managing companies. In 2001, Pirelli acquired a stake in Telecom Italia, one of the largest European telecommunication operators, via the company Olimpia, participated at 50.4%. With 74 plants in all the five continents, Pirelli employs more than 34,000 people and in 2002 it registered revenues for 6.718 billion Euros. Pirelli is listed on the Milan Stock Exchange.