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Exide Announces Price Hike

1 September 1998

Exide Announces Modest Price Hike; Raise Follows Years Of Holding Line On Increases

    BLOOMFIELD HILLS, Mich.--September 1, 1998--Exide Corporation , the world's leading manufacturer of lead acid batteries, today announced that it would be instituting a modest domestic price increase of 3.95 percent, effective with orders placed November 1, 1998.
    "Over the past three years, Exide has absorbed both increased labor and material costs and made necessary capital investments in our manufacturing capabilities without raising our prices," said Douglas N. Pearson, Executive Vice President and President, North America Operations, Exide. "And while we must now raise prices, the increase will enable Exide to recoup only a portion of those costs. We remain deeply committed to being the battery industry's most cost- effective manufacturer."
    This price increase, however, will not affect the new Exide NASCAR SELECT line; prices on that line will remain the same. Also, the timing of the announcement will permit customers to stock up well in advance of the increase.
    Exide Corporation is headquartered in Bloomfield Hills, Michigan, with administrative offices in Reading, Pennsylvania. Exide is the world leader in lead- acid batteries. The company has significant additional interests in related technologies including battery chargers, accessories, starters and alternators.