LS Corp. and LS Cable Ltd. Accept Shares in Tender Offer for Common Stock of Superior...

LS Corp. and LS Cable Ltd. Accept Shares in Tender Offer for Common Stock of Superior Essex and Commence Subsequent Offering Period

SEOUL, Korea & ATLANTA--(Business Wire)--
LS Corp., its subsidiary LS Cable Ltd. and Superior Essex Inc.
(NASDAQ: SPSX) announced today the expiration of the initial offering
period in the tender offer by Cyprus Acquisition Merger Sub, Inc.
(Cyprus), a subsidiary of LS Cable Ltd., for all outstanding shares of
common stock of Superior Essex. The initial offering period expired,
as scheduled, at 5:00 PM (New York time) on Wednesday, July 30, 2008.

A total of 17,290,058 Superior Essex shares were validly tendered
and not withdrawn prior to the expiration of the initial offering
period, representing approximately 86.9% of the outstanding shares
(and approximately 82.1% of the shares outstanding on a fully-diluted
basis, determined as set forth in the offer to purchase). An
additional 1,429,016 shares were tendered pursuant to notices of
guaranteed delivery. All Superior Essex shares validly tendered in the
initial offering period have been accepted for payment.

Cyprus has commenced a subsequent offering period for all
remaining shares of Superior Essex common stock to permit stockholders
who have not yet tendered their shares the opportunity to do so. This
subsequent offering period will expire at 5:00 PM (New York time) on
Monday, August 4, 2008, unless extended.

The same $45.00 per share price offered in the initial offering
period will be paid during this subsequent offering period. All shares
validly tendered will be immediately accepted and payment will be made
promptly after acceptance, in accordance with the terms of the offer.
Procedures for tendering shares are the same as during the initial
offering period with two exceptions: (1) shares cannot be delivered by
the guaranteed delivery procedure and (2) shares tendered during the
subsequent offering period may not be withdrawn.

Pursuant to the terms of the previously announced merger
agreement, LS Cable expects to effect a merger of Cyprus with and into
Superior Essex. As a result of the merger, all other Superior Essex
shares (other than those as to which holders properly exercise
appraisal rights and those owned by Cyprus or held in the treasury of
Superior Essex) will be canceled in exchange for the right to receive
the same $45.00 per share price as paid in the tender offer, without
interest and less any amounts required to be withheld under applicable
U.S. federal, state or local tax laws. LS Cable intends to complete
the merger as soon as practical. If, as a result of additional shares
tendered and purchased in the subsequent offering period or otherwise,
Cyprus becomes the owner of at least 90% of the outstanding Superior
Essex shares, Cyprus will be able to complete a "short form" merger,
as provided under the terms of the merger agreement.

About LS Cable

LS Cable, a newly established and wholly owned subsidiary of LS
Corp., is a leading wire and cable manufacturer with headquarters
located in Korea. LS Cable has 3,300 employees and more than 15
manufacturing sites located in 10 countries, with operations on three
continents. LS Cable provides a wide range of power and communications
cable solutions for the energy infrastructure, construction,
automotive, railway, telecommunication and electronic industries. With
high, medium and low voltage power cables, LS Cable meets its
customers' demands for cable and cable systems for power transmission
and distribution in energy infrastructure and related industries.

LS Cable also serves the needs of customers for optical
communication, which is the platform of broadband networks. LS Cable
offers various optical cables and optical fibers of single and multi
mode for LAN, access, long distance and metropolitan networks. LS
Cable supplies coaxial cables, UTP cables and FTTH (Fiber to The Home)
solutions for rapid and massive data transmission. For more
information about LS Cable, please visit www.lscable.com.

LS Corp. (formerly know as LS Cable Ltd.) was founded in Korea in
1962 and it became a listed company on the Stock Market Division of
Korea Exchange (formerly known as Korea Stock Exchange) in June 1977.
As previously announced, on July 2, 2008, LS Corp. effected an
internal corporate structure change, whereby LS Corp. changed its name
from "LS Cable Ltd." to "LS Corp." and transferred the assets and
liabilities of its wire and cable business into a newly established
wholly owned subsidiary named "LS Cable Ltd."

About Superior Essex

Superior Essex Inc., a FORTUNE 1,000 company, is one of the
largest wire and cable manufacturers in the world. The Company
manufactures and supplies a broad portfolio of wire and cable products
for the communications, energy, automotive, industrial, and commercial
& residential end-markets. It is a leading manufacturer of magnet
wire, fabricated insulation products, and copper and fiber optic
communications wire and cable. It is also a leading distributor of
magnet wire, insulation and related products.

Additional information on the Company can be found on its website
at www.superioressex.com

Forward-Looking Statements and Risk Factors

This press release contains certain forward-looking statements
with respect to the subsequent offering period and the completion the
merger. Completion of the merger is subject to conditions, including
the receipt of regulatory approvals, and there can be no assurances
that those conditions will be satisfied and that the merger will be
completed. By their nature, forward-looking statements involve risk
and uncertainty because they relate to events and depend on
circumstances that will occur in the future and there are many factors
that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements.
Forward-looking statements contained herein are made only as of the
date hereof, and we do not undertake to update these statements to
reflect subsequent events or developments, except as required by
federal securities law including SEC rules.

For LS Cable:
Kekst and Company
Kimberly Kriger or Victoria Weld
212-521-4800
or
LS Cable Ltd.
Dong Hee Keum, +82-2-2189-9302
or
Information Agent:
MacKenzie Partners, Inc.
(212) 929-5500 (call collect) or
(800) 322-2885 (toll free)
tenderoffer@mackenziepartners.com
or
Dealer Manager:
Macquarie Capital (USA) Inc.
(800) 560-1531 (toll free)
or
For Superior Essex:
Peggy Reilly Tharp
Director, Investor Relations
770-657-6246

Copyright Business Wire 2008