FOR IMMEDIATE RELEASE

DIVIDENDS DISTRIBUTION AND SHAREHOLDERS’ MEETINGS

(Santiago, Chile, February 24, 2008) Madeco S.A. (“Madeco” or “the Company”) (NYSE ticker: MAD) reported today the following information to the Superintendencia de Valores y Seguros (Chilean Securities and Insurance Superintendency, or “SVS”):

Annual Shareholders’ Meeting

The Board of Directors agreed to summon an Annual Shareholders' Meeting to be held at 15:30 on March 25th, 2009, at the Ritz Carlton Hotel located at El Alcalde Nº15, Las Condes, Santiago, Chile.

The issues to be included at the Annual Shareholders' Meeting are the following:

1. approval of the Company's Annual Report, Financial Statements and External Auditors Report for the fiscal year ended December 31, 2008;
2. distribution of net income of 2008;
3. determination of the Board of Directors' remuneration;
4. determination of the Audit Committee’s fees, pursuant to Article 50 bis of Law #18,046 (Chilean Corporation Law) and approval of the Committee’s expense budget for the year 2009;
5. report of the Board of Director’s expenses in 2008;
6. approval of the Director’s Committee report regarding activities and expenses for the fiscal year 2008;
7. designation of the Company’s External Auditors;
8. approval of the Company’s report regarding related party transactions, pursuant to Articles 44 and 89 of Law #18,046 (Chilean Corporation Law); and
9. discussion of any other matter of interest within the scope of the Annual Shareholders' Meeting.

Dividend distribution.

The Board agreed to propose to the Annual Shareholders' Meeting to distribute a dividend of Ch$15 per share with charge to the net income of the year 2008. The tax effects of this dividend will be informed once known.

Extraordinary Shareholders Meeting.

The Board also agreed to call to an Extraordinary Shareholders’ Meeting to be held after the Annual Shareholders’ Meeting (at the same place), which will have to resolve these issues:

1. Express the share capital in US dollars in its bylaws due to the change of the accounting methods to IFRS (International Financial Reporting Standards) in 2009.
2. Take all other agreements as may be necessary or desirable to materialize, to carry out and complement the agreements adopted by the Shareholders’ Meeting related to the previous issues.

Participation in the Shareholders Meetings.

The shareholders listed in the registers 5 days before the celebration of both Meetings (19 March, 2009) will have the right to participate in them.

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For further information contact:
Jose Luis Valdes
Investor Relations
Tel. : (56 2) 520-1388
Fax : (56 2) 520-1545
E-mail : ir@madeco.cl
Web Site : www.madeco.cl

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Madeco, previously Manufacturas de 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.

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