Very similar to a bike I bought at a lawn sale a couple of years ago...A Miele Road Issue made by Alta, Exage Sport/LX, I replaced the drops with a flat bar and levers from the junk bin, swapped the fork for a new Bianchi fork.
Bike cost $20.00, fork $75.00, new tires and tubes $30.00
This bike does everything well, accelerates, fast of the roads, and climbs like a goat.
I tend to collect old bikes that I come across at thrift shops and lawn sales...picked up this Gitane Professional Tour de France for $15.00...also put a flat bar and tool pouch on it.