General Cable Corporation to acquire alcan cable, the wire and cable business of Rio Tinto plc

General Cable Corporation(NYSE: BGC) (the Company) announced today that it has agreed to acquire Alcan Cable, the wire and cable business ofRio Tinto plc(Rio Tinto) (LSE: RIO). The purchase price is$185 millionin cash, subject to customary adjustments primarily related to working capital levels at closing as provided in the definitive purchase agreement. The Company expects to use its Asset Based Revolving Credit Facility to principally fund the transaction. The transaction is expected to close in the second half of 2012, subject to receipt of regulatory approval.

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