FOR IMMEDIATE RELEASE

~~TAX~~COMPANY'S ~~NOTIFICATION~~DIRECTOR RESIGNATION

(Santiago, ~~CHILE~~Chile, ~~January~~March 282nd, 2010) Madeco S.A. (“Madeco” or “the Company”) (Public, OTC: MADKY; prior NYSE ticker: MAD) ~~reported~~in ~~today~~accordance with the ~~following~~Laws ~~information~~and toGeneral Rules of the Superintendencia de Valores y Seguros (Chilean Securities and Insurance Superintendency, or “SVS”), reported today:

~~During~~Mr. ~~the~~Augusto ~~meeting~~Iglesias ~~held yesterday~~Palau, ~~January~~an ~~27,~~independent ~~2010~~director of the Company, submitted his resignation to the Board of Directors ~~was~~yesterday ~~informed~~and ~~that~~therefore ~~on January 22~~ the ~~State~~Directors' Committee of ~~Sao~~Madeco ~~Paulo,~~S.A. ~~Brazil,~~The ~~notified~~resignation ~~our~~is ~~former~~explained ~~cable~~due ~~subsidiary~~to inhis ~~that~~appointment ~~country,~~as ~~Ficap~~Vice-Secretary ~~S.A.,~~of ~~nowadays~~Social ~~Nexans~~Pension ~~Brasil~~of ~~S.A.,~~the ofnew ~~tax~~Chilean ~~liabilities~~government ~~amounting~~that towill atake ~~total~~over R$on 89March 11,~~172,390~~ ~~(equivalent~~2010. asThe ofCompany's ~~that~~Board ~~date~~accepted tohis ~~US$~~resignation ~~49,079,416)~~at ~~including~~its ~~interests~~meeting ~~and~~held ~~fines~~on March 1st, 2010.

The notice asserts that ICMS taxes (similar to Chilean VAT) paid by Ficap in the State of Espírito Santo, the copper import location, should have been paid to the State of Sao Paulo, state where one of Ficap’s facilities is located. In addition, the State of Sao Paulo affirms that the use of such tax credit generated at the State of Espírito Santo in 2005 is invalid.

This situation is related to differences among several Brazilian States with respect to the location in which ICMS tax should be paid for the imports of goods to this country, particularly given the use of tax benefits granted from some States to encourage the import of products through them has been a customary practice of several Local and Multinational companies.

As previously informed, pursuant to the stipulations of the agreement entered into with Nexans on February 21, 2008, by which the Cable Business Unit was divested, except for some specific cases, Madeco S.A. undertook a responsibility with Nexans for the tax collection contingencies with an origin prior to the date of the agreement, as it is the case.

Regarding this issue, the Board of Directors agreed to file reclamation and review appeals available according to the Brazilian legislation. After consulting with Madeco S.A. legal advisors in Brazil, they believe that strong arguments exist in order to revert this situation.

--------------------------------------------------

For further information contact: Jose Luis Valdes Head of Investor Relations Tel. : (56 2) 520-1388 Fax : (56 2) 520-1545 E-mail : [email protected] Web Site : www.madeco.cl

~~Jose~~*************** Madeco, ~~Luis~~previously ~~Valdes~~Manufacturas Mde Cobre MADECO S.A., was incorporated in 1944 as an open corporation under the laws of the Republic of Chile, and today has operations in Chile, Peru, and Argentina. Madeco is considered, a Latin American leader, in the manufacture of finished and semi-finished products in copper, copper alloys and aluminum. The Company is also a leader in the production of flexible packaging used in packing mass consumption products like foods, sweets and cosmetics. Readers are warned not to place too much reliance on the future declarations contained in the above text, which are based on the position today. The Company is under no obligation to announce publicly the results of revisions to those declarations about the future which might be made to reflect events or circumstances after today including, but without limitation, changes in the Company’s strategy or in its capital expenses, or to reflect the occurrence of unforeseen events.

Head of Investor Relations

Tel. : (56 2) 520-1388

Fax : (56 2) 520-1545

E-mail : ir@madeco.cl

Web Site : www.madeco.cl

***************

Madeco formerly Manufacturas de Cobre MADECO S.A., was incorporated in 1944 as an open stock corporation according to Chilean law. Currently it has operations in Chile, Peru and Argentina. Madeco is a leader in South America in finished and semi-finished copper, aluminum and alloy products. The Company is also a leader in flexible packaging for mass consumer products, such as foods, snacks and cosmetics. More information on www.madeco.cl

Readers are advised not to confide excessively in declarations about future performance that may be included in this document, which are based on current information. The Company has no obligation to publicly declare changes to statements regarding future performance, which may be subject to events or circumstances after today’s date, including, but not limited to, changes in Company’s strategy, or in capital spending, or reflect the occurrence of unanticipated events.

Filing Compare · MADECO S.A.