Exide Technologies Signs Contract With Norwegian Navy To Produce Submarine Propulsion Batteries

    PRINCETON, N.J., Jan. 25 Exide Technologies
this week signed a contract for production of propulsion batteries for the
Royal Norwegian Navy's Ula-class submarines.  Deliveries, from Exide's Horten,
Norway plant, will begin in 2002 on a contract, which is valued at
13.7 million euros ($12.8 million).
    The contract includes technical training courses, manuals and services in
connection with installation and testing of six batteries to power six
submarines.
    Each battery consists of 480 cells and weighs more than 140 tons.  This
battery is the only energy source for this submarine during submerged sailing.
    The Royal Norwegian Navy negotiated the contract with Exide after
performing a competitive evaluation of other global manufacturers.
    Rear Admiral Jan Jaeger, head of the Royal Norwegian Navy Materiel
Command, said during the signing ceremony, "The Navy gave the contract to the
most capable producer in the marketplace.  The excellent quality of the
batteries from the Exide Horten plant also was a major factor in their
evaluation.  It was therefore a pleasure for the Navy that the contact was
concluded with Exide."
    Meeting the Norwegian Navy's stringent requirements on quality and price,
a relationship which dates back to the 1920s, has also made Exide more
competitive in the export market outside Norway.  As an example of this, Exide
signed a contract in 1998 with the Kockums shipyard in Sweden for deliveries
of three submarine-propulsion batteries to a Far East customer.
    Other Horten export contracts include providing up to four propulsion
batteries for the Royal Danish Navy's Tumleren-class submarines and an
agreement with the Spanish shipbuilder Bazan for potential deliveries of
additional submarine batteries.
    Kockums is also a partner in the "Viking" submarine consortium.  Exide's
Horten plant is the only facility in the Nordic region with submarine battery
expertise, and expects to play an active role in the Viking program, according
to Albrecht Leuschner, President of Exide's Network Power Global Business
Unit.
    Exide Technologies has established a "competence group" consisting of the
company's most experienced submarine battery technical experts in Europe.
Exide is therefore able to bring more innovative and cost-efficient
methodologies to its submarine battery customers, including those in new
programs such as Viking.
    Exide Technologies is the global leader in providing electrical energy
storage solutions.  The company has annualized revenues of approximately
$3 billion and has operations in 89 countries, serving the industrial and
transportation markets.
    Industrial applications include network power batteries for
telecommunications systems, fuel cell load leveling, electric utilities,
railroads, photovoltaic and other uninterruptible power supply markets, and
motive power batteries for a broad range of equipment uses, including lift
trucks, mining and other commercial vehicles.
    Transportation uses include automotive, heavy duty, agricultural, marine
and other batteries, as well as new technologies being developed for hybrid
vehicles and new 42-volt automotive applications.  The company supplies both
the aftermarket and original-equipment transportation customers.
    Further information about Exide Technologies, its financial results and
other recent events, can be found at http://www.exideworld.com.

                              Exide Technologies

    Certain statements in this press release may constitute forward-looking
statements as defined by the Securities Litigation Reform Act of 1995.  As
such, they involve known and unknown risks, uncertainties and other factors,
which may cause the actual results of the Company to be materially different
from any results expressed or implied by such forward-looking statements.
These are enumerated in further detail in the Company's Form 10-K.