<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
                           (A WHOLLY-OWNED SUBSIDIARY
                           OF THE ALPINE GROUP, INC.)
 
                        UNAUDITED CONDENSED CONSOLIDATED
                              FINANCIAL STATEMENTS
 
                                JANUARY 28, 1996
<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                             (DOLLARS IN THOUSANDS)
                                     ASSETS
 
<TABLE>
<CAPTION>
                                                                                                        APRIL 30,
                                                                                                          1995
                                                                                           JANUARY 28,  ---------
                                                                                              1996
                                                                                           -----------
                                                                                           (UNAUDITED)
<S>                                                                                        <C>          <C>
Current assets:
  Cash...................................................................................   $      11   $       4
  Accounts receivable (less allowance for doubtful accounts;
   January, $62; April, $40).............................................................      37,607      18,268
  Inventories............................................................................      47,478      19,665
  Other current assets...................................................................       2,637       1,041
                                                                                           -----------  ---------
    Total current assets.................................................................      87,733      38,978
Property, plant and equipment (less accumulated depreciation: January, $8,235; April,
 $3,713).................................................................................      72,917      26,132
Goodwill (less accumulated amortization: January, $2,598; April, $1,557).................      48,668      32,161
Due from parent..........................................................................      23,403      --
Other long-term assets...................................................................         575       1,017
                                                                                           -----------  ---------
      Total assets.......................................................................   $ 233,296   $  98,288
                                                                                           -----------  ---------
                                                                                           -----------  ---------
 
                                      LIABILITIES AND STOCKHOLDER'S EQUITY
 
Current liabilities:
  Current portion of long-term debt......................................................   $  --       $   1,600
  Accounts payable.......................................................................      35,929      16,281
  Accrued expenses and other liabilities.................................................      10,500       3,640
                                                                                           -----------  ---------
    Total current liabilities............................................................      46,429      21,521
                                                                                           -----------  ---------
Notes payable to parent..................................................................     125,841      --
                                                                                           -----------  ---------
Notes payable to affiliate...............................................................       1,995      --
                                                                                           -----------  ---------
Long-term debt, less current portion.....................................................       6,352      25,320
                                                                                           -----------  ---------
Deferred income taxes....................................................................       5,693       5,693
                                                                                           -----------  ---------
Other long-term liabilities..............................................................       1,493       1,493
                                                                                           -----------  ---------
Stockholder's equity:
  Common stock, $.01 par value; authorized 10,000 shares; issued 1,000 shares............      --          --
  Additional paid-in capital.............................................................      41,144      41,144
  Foreign currency translation...........................................................        (698)     --
  Retained earnings......................................................................       5,047       3,117
                                                                                           -----------  ---------
    Total stockholder's equity...........................................................      45,493      44,261
                                                                                           -----------  ---------
      Total liabilities and stockholder's equity.........................................   $ 233,296   $  98,288
                                                                                           -----------  ---------
                                                                                           -----------  ---------
</TABLE>
 
              The accompanying notes are an integral part of these
                  condensed consolidated financial statements.
 
                                       1
<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (UNAUDITED)
                     (IN THOUSANDS, EXCEPT PER SHARE DATA)
 
<TABLE>
<CAPTION>
                                                                                            THREE MONTHS ENDED
                                                                                         ------------------------
                                                                                         JANUARY 28,  JANUARY 29,
                                                                                            1996         1995
                                                                                         -----------  -----------
<S>                                                                                      <C>          <C>
Net sales..............................................................................  $    84,445   $  30,513
Cost of goods sold.....................................................................       75,481      27,554
                                                                                         -----------  -----------
  Gross profit.........................................................................        8,964       2,959
Selling, general, and administrative expense...........................................        2,138       1,250
Amortization of goodwill...............................................................          349         281
                                                                                         -----------  -----------
  Operating income.....................................................................        6,477       1,428
Interest expense, net..................................................................        4,041         752
                                                                                         -----------  -----------
  Income before income taxes...........................................................        2,436         676
Income tax expense.....................................................................        1,016         289
                                                                                         -----------  -----------
    Net income.........................................................................  $     1,420   $     387
                                                                                         -----------  -----------
                                                                                         -----------  -----------
    Net income per share of common stock...............................................  $  1,420.00   $  387.00
                                                                                         -----------  -----------
                                                                                         -----------  -----------
</TABLE>
 
              The accompanying notes are an integral part of these
                  condensed consolidated financial statements.
 
                                       2
<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
     CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS
                                  (UNAUDITED)
                     (IN THOUSANDS, EXCEPT PER SHARE DATA)
 
<TABLE>
<CAPTION>
                                                                                            NINE MONTHS ENDED
                                                                                        -------------------------
                                                                                        JANUARY 28,   JANUARY 29,
                                                                                            1996         1995
                                                                                        ------------  -----------
<S>                                                                                     <C>           <C>
Net sales.............................................................................  $    281,461  $    96,227
Cost of goods sold....................................................................       255,407       86,576
                                                                                        ------------  -----------
  Gross profit........................................................................        26,054        9,651
Selling, general, and administrative expense..........................................         5,743        3,696
Amortization of goodwill..............................................................         1,041          842
                                                                                        ------------  -----------
  Operating income....................................................................        19,270        5,113
Interest expense, net.................................................................        11,842        2,141
                                                                                        ------------  -----------
  Income before income taxes and extraordinary item...................................         7,428        2,972
Income tax expense....................................................................         3,395        1,304
                                                                                        ------------  -----------
  Income before extraordinary item....................................................         4,033        1,668
Extraordinary (loss) on early extinguishment of debt (net of income tax impact of
 $1,195)..............................................................................         2,103      --
                                                                                        ------------  -----------
  Net income..........................................................................         1,930        1,668
  Retained earnings at beginning of period............................................         3,117          196
                                                                                        ------------  -----------
  Retained earnings at end of period..................................................  $      5,047  $     1,864
                                                                                        ------------  -----------
                                                                                        ------------  -----------
Income per share of common stock:
  Income before extraordinary item....................................................  $   4,033.00  $  1,668.00
  Extraordinary (loss) on early extinguishment of debt................................     (2,103.00)     --
                                                                                        ------------  -----------
  Net income per share of common stock................................................  $   1,930.00  $  1,668.00
                                                                                        ------------  -----------
                                                                                        ------------  -----------
</TABLE>
 
              The accompanying notes are an integral part of these
                  condensed consolidated financial statements.
 
                                       3
<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)
                                 (IN THOUSANDS)
 
<TABLE>
<CAPTION>
                                                                                             NINE MONTHS ENDED
                                                                                         -------------------------
                                                                                         JANUARY 28,   JANUARY 29,
                                                                                             1996         1995
                                                                                         ------------  -----------
<S>                                                                                      <C>           <C>
Cash flows from operating activities:
  Net income before extraordinary item.................................................  $      4,033   $   1,668
  Adjustments to reconcile net income to net cash provided by operating activities:
    Depreciation and amortization......................................................         5,726       2,775
    Amortization of deferred financing costs...........................................           333         216
  Change in assets and liabilities:
    Accounts receivable................................................................         9,777       1,301
    Inventories........................................................................         5,223      (3,328)
    Other current assets...............................................................          (573)       (178)
    Accounts payable...................................................................         4,169         426
    Accrued expenses and other liabilities.............................................            94         (69)
                                                                                         ------------  -----------
Cash provided by operating activities..................................................        28,782       2,811
                                                                                         ------------  -----------
Cash flow from investing activities:
  Acquisitions, net of cash acquired...................................................      (103,409)     --
  Capital expenditures.................................................................        (2,561)     (1,139)
  Capital expenditures on BICC assets..................................................        (3,895)     --
  Other................................................................................           135        (138)
                                                                                         ------------  -----------
Cash (used for) investing activities...................................................      (109,730)     (1,277)
                                                                                         ------------  -----------
Cash flow from financing activities:
  Borrowings (repayments) under revolving credit facilities, net.......................       (16,522)        630
  Borrowings (advances) from/to Parent.................................................       104,726        (250)
  Long-term borrowings.................................................................       141,352      --
  Repayments of long-term borrowings...................................................      (145,386)     (1,914)
  Capitalized financing costs..........................................................        (3,215)     --
                                                                                         ------------  -----------
Cash provided by (used for) financing activities.......................................        80,955      (1,534)
                                                                                         ------------  -----------
    Net increase in cash and cash equivalents..........................................             7      --
Cash at beginning of period............................................................             4           4
                                                                                         ------------  -----------
Cash at end of period..................................................................  $         11   $       4
                                                                                         ------------  -----------
                                                                                         ------------  -----------
Supplemental disclosures:
  Cash interest paid or charged by Parent during the period............................  $     12,252   $   2,124
                                                                                         ------------  -----------
                                                                                         ------------  -----------
  Cash paid during the period for income taxes.........................................  $    --        $     437
                                                                                         ------------  -----------
                                                                                         ------------  -----------
Non-cash investing and financing activities:
  Acquisition of business:
    Assets, net of cash acquired.......................................................  $    126,127
    Liabilities assumed................................................................       (22,718)
                                                                                         ------------
      Net cash paid....................................................................  $   (103,409)
                                                                                         ------------
                                                                                         ------------
</TABLE>
 
              The accompanying notes are an integral part of these
                  condensed consolidated financial statements.
 
                                       4
<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                JANUARY 28, 1996
                                  (UNAUDITED)
 
1.  BASIS OF PRESENTATION
    The  accompanying unaudited  condensed consolidated  financial statements of
Superior Telecommunications Inc. (the "Company") reflect all adjustments  which,
in  the opinion  of management,  are necessary  for a  fair presentation  of the
results of operations for the interim periods presented. The Company is a wholly
owned  subsidiary  of  The  Alpine  Group,  Inc.  ("Alpine").  These   financial
statements should be read in conjunction with the summary of accounting policies
and  the notes  to the financial  statements included in  the Companys financial
statements for the year ended April 30, 1995.
 
2.  INVENTORIES
    The components of inventories are:
 
<TABLE>
<CAPTION>
                                                                       JANUARY 28,  APRIL 30,
                                                                          1996        1995
                                                                       -----------  ---------
                                                                           (IN THOUSANDS)
<S>                                                                    <C>          <C>
Raw material.........................................................   $   9,808   $   6,879
Work in process......................................................       9,763       4,325
Finished goods.......................................................      27,907       8,461
                                                                       -----------  ---------
                                                                        $  47,478   $  19,665
                                                                       -----------  ---------
                                                                       -----------  ---------
</TABLE>
 
3.  ALCATEL ACQUISITION
    On May  11,  1995,  the  Company completed  the  acquisition  (the  "Alcatel
Acquisition")  of  the U.S.  and Canadian  copper wire  and cable  business (the
"Alcatel Business") of Alcatel NA Cable  Systems, Inc. and Alcatel Canada  Wire,
Inc.  (collectively,  "Alcatel NA").  In  connection with  the  acquisition, the
Company sold  $140,000,000 aggregate  principal amount  of notes  (the  "Alcatel
Acquisition  Notes"). The following  reflects the preliminary  allocation of the
purchase price  of  the  net assets  of  the  Alcatel Business  based  upon  the
estimated fair values of such assets (in thousands):
 
<TABLE>
<S>                                                                <C>
Estimated acquisition cost.......................................  $ 103,409
Less: historical book value of net assets at May 11, 1995........    (80,909)
Write-up of property, plant and equipment........................     (4,945)
Accrual of Alcatel employee relocation and severance costs.......        500
                                                                   ---------
Acquisition goodwill.............................................  $  18,055
                                                                   ---------
                                                                   ---------
</TABLE>
 
    The estimated acquisition cost of $103,409,000 included $102,909,000 paid in
cash to Alcatel NA and acquisition expenses estimated at $500,000.
 
    The  Alcatel Acquisition has  been accounted for  using the purchase method,
and, accordingly, the results of operations of the Alcatel Business are included
in the Companys  results on a  prospective basis from  the date of  acquisition.
Unaudited  condensed pro forma  results of operations for  the nine months ended
January 28,  1996  and  January  29,  1995 which  give  effect  to  the  Alcatel
acquisition as if
 
                                       5
<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                                JANUARY 28, 1996
                                  (UNAUDITED)
 
3.  ALCATEL ACQUISITION (CONTINUED)
the  transaction occurred  on May  1, 1994  are presented  below. The  pro forma
amounts reflect acquisition related  purchase accounting adjustments,  including
adjustments  to depreciation and  amortization expense. The  pro forma financial
information does  not  purport  to  be  indicative  of  either  the  results  of
operations  that  would have  occurred had  the acquisition  taken place  at the
beginning of the periods or of future results of operations.
 
<TABLE>
<CAPTION>
                                                                                      PRO FORMA
                                                                               ------------------------
                                                                                     (UNAUDITED)
                                                                                  NINE MONTHS ENDED
                                                                               ------------------------
                                                                               JANUARY 28,  JANUARY 29,
                                                                                  1996         1995
                                                                               -----------  -----------
                                                                                (IN THOUSANDS, EXCEPT
                                                                                   PER SHARE DATA)
<S>                                                                            <C>          <C>
Net sales....................................................................  $   288,982  $   241,589
Income before income tax expense and extraordinary item......................        7,610          937
Income before extraordinary item.............................................        4,215          563
  Net income.................................................................        2,122          563
Income per share of common stock:
  Income before extraordinary item...........................................  $  4,215.00  $    563.00
  Net income.................................................................     2,122.00       563.00
</TABLE>
 
4.  DEBT
    Debt consists of the following:
 
<TABLE>
<CAPTION>
                                                                                 JANUARY 28,  APRIL 30,
                                                                                    1996        1995
                                                                                 -----------  ---------
                                                                                     (IN THOUSANDS)
<S>                                                                              <C>          <C>
Lease finance obligation.......................................................   $   5,000   $   5,000
Promissory note................................................................       1,352
Revolving credit loan..........................................................      --          16,533
Term loan......................................................................      --           5,387
                                                                                 -----------  ---------
  Total debt...................................................................       6,352      26,920
  Less: Current portion........................................................      --           1,600
                                                                                 -----------  ---------
  Long-term debt...............................................................   $   6,352   $  25,320
                                                                                 -----------  ---------
                                                                                 -----------  ---------
</TABLE>
 
    On May 11, 1995, the Company issued the Alcatel Acquisition Notes (see  Note
3), with the proceeds used to (1) pay the initial purchase price for the Alcatel
Acquisition,  (2) repay amounts outstanding  under the Companys revolving credit
facility and its  term loan and,  (3) pay  fees and expenses  amounting to  $5.1
million, with the balance being added to Company cash reserves.
 
    On  July 21, 1995, Alpine completed the  placement of $153 million of 12.25%
Senior Secured  Notes (the  "Alpine  Notes") and  entered  into an  $85  million
revolving  credit facility  (the "Credit Facility").  A portion  of the proceeds
from the Alpine Notes  and the Credit  Facility were advanced  by Alpine to  the
Company  and used to redeem the Alcatel  Acquisition Notes. The Alpine Notes are
guaranteed  by  the  Company  and  Adience,  Inc.  ("Adience"),  another  Alpine
subsidiary,  and are secured by a pledge of the capital stock of the Company and
Adience. The Credit Facility  which allows Alpine  to make additional  revolving
credit  loans to the Company  to fund its working capital  needs (see Note 5) is
guaranteed by the Company.
 
                                       6
<PAGE>
                SUPERIOR TELECOMMUNICATIONS INC. AND SUBSIDIARY
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                                JANUARY 28, 1996
                                  (UNAUDITED)
 
4.  DEBT (CONTINUED)
    As a  result of  the aforementioned  redemption of  the Alcatel  Acquisition
Notes,  the Company  recognized a $3.3  million extraordinary loss  on the early
extinguishment of debt during the nine months ended January 28, 1996.
 
5.  RELATED COMPANY TRANSACTIONS
    As a result of funds  advanced by Alpine to  the Company in connection  with
the  redemption of the  Alcatel Acquisition Notes  (see Note 4),  the Company is
indebted to Alpine under  notes payable amounting to  $125.9 million at  January
28, 1996.
 
    Such notes payable to Alpine include:
 
        (1)  an $88.9  million promissory note  due in 2003  (subject to certain
    mandatory prepayment requirements), with interest payable semiannually at an
    annual rate of 14%; and
 
        (2) $37.0  million  in  borrowings under  a  revolving  credit  facility
    between Alpine and the Company due in 2000, with interest payable monthly at
    prime plus 0.375% or LIBOR plus 2.25%. Borrowings from Alpine by the Company
    under  the  revolving  credit  facility  are  subject  to  a  borrowing base
    determined as a percentage of eligible accounts receivable and inventory (as
    defined). The  revolving credit  facility  is secured  by  a pledge  of  the
    Company's accounts receivable and inventory.
 
    Total   interest  expense  charged  by  Alpine  to  the  Company  under  the
aforementioned  promissory  note  and  revolving  credit  facility  amounted  to
approximately  $8.4 million and $3.8 million for  the three month and nine month
periods ended January 28, 1996, respectively.
 
    In November  1995,  the  Company  entered  into  a  note  agreement  whereby
Adience's   Canadian  subsidiary   advanced  $2.0  million   to  Superior  Cable
Corporation, the Company's Canadian subsidiary. The advance bears interest at 8%
and is payable on demand.
 
    Alpine allocates  insurance  expenses  to the  Company  based  on  projected
payrolls,  property values and  forecasted losses. Such  allocated costs totaled
$417,404 and $695,673  for the three  and nine month  periods ended January  28,
1996.
 
                                       7