Exide Technologies Announces Expected Fourth Fiscal Quarter Results

    PRINCETON, N.J., April 23 Exide
Technologies , the global leader in stored electrical energy
solutions, announced today that it expects net earnings for its fourth fiscal
quarter ending March 31, 2001, excluding non-recurring items, to be
approximately break-even or slightly better, exceeding analysts' estimates.
    The current consensus of analyst estimates for the fourth quarter, as
reported by First Call, is a net loss of $.01 per diluted share.  The company
reported a net loss of $.04 per diluted share, excluding non-recurring items,
in its fourth quarter of last year.  In January, the company announced that it
had expected to earn approximately $.15 to $.20 per diluted share for the
fourth quarter.  Weaker than expected unit volume in its North American
transportation business and higher energy-related costs resulted in the
shortfall against the company's earlier estimates.  The company expects to
report its actual results on May 18, 2001.
    Fourth quarter unit volume in the company's North American transportation
business was approximately 8.2 million units, down approximately 16 percent
year-over-year, when compared to pro-forma results including the former GNB
Technologies which Exide acquired in September 2000.  The decline was a result
of lower demand from aftermarket customers and original equipment
manufacturers.  Unit volume in Europe was up 1% over last year.  Revenue in
the fourth quarter in the industrial business was up approximately 11% year-
over-year, excluding currency effects and on a pro-forma basis.
    The company confirmed that it realized approximately $7 million in savings
in the fourth quarter from its restructuring initiatives, largely related to
its acquisition of GNB.  In total, the company expects its restructuring
initiatives to result in approximately $90 million of annualized cost savings.
    The company expects to record a pre-tax, non-recurring charge of
approximately $135 million in the fourth quarter including charges totaling
approximately $95 million related to its restructuring and integration
initiatives.  These charges include the closure of an automotive battery plant
in the U.S., workforce reductions at two manufacturing facilities in Europe,
reorganization of its European transportation business sales force, a charge
for commitments for future purchases of materials in excess of current
expected requirements and other costs associated with the integration of GNB.
The expected fourth quarter charge also includes an approximate $32 million
provision for the fine and costs associated with the previously announced plea
agreement with the U.S. Attorney of the Southern District of Illinois related
to past improper business practices of the company's former management.  The
company also will record reserves for an automotive battery plant closure of
approximately $15 million in connection with the purchase accounting for the
GNB acquisition.
    Exide Technologies currently expects the following range of results,
before non-recurring items, for the fourth fiscal quarter.

    -- Consolidated revenues of $700 million to $710 million.
    -- Consolidated earnings before interest, taxes, depreciation and
        amortization and losses on receivables sold of $70 million to
        $72 million.
    -- Consolidated earnings per diluted share of approximately break-even or
        slightly better.

    The company expects its industrial business, including both motive power
and network power applications, to grow at an annualized rate of seven to
10 percent for the next several months after taking into consideration recent
economic conditions in the major material handling, telecommunications and
data transmission markets.
    For fiscal year 2002, which began April 1, the company currently expects
unit volume in its North American transportation business to be at
approximately the annualized level experienced in the fourth quarter.  Unit
volume in Europe is expected to be flat year-over-year.
    Exide Technologies will conduct an analyst and investor call to discuss
its current fourth quarter estimates and recent developments on April 24, 2001
at 9:00 a.m. Eastern Standard Time.  The call will be available to investors
in real-time, listen-only format on the Internet at http://www.exide.com and/or
http://www.streetfusion.com.  The call will be repeated on webcast from April 24,
2001 at 12:00 p.m. Eastern Time until May 1, 2001 at 11:59 p.m.
    Exide Technologies is the global leader of stored electrical energy
solutions.  With annual revenues of more than $3 billion, operations in
89 countries and 20,000 employees, the company serves the industrial market
and the transportation aftermarket and original equipment market.
    Industrial applications include network power batteries for
telecommunications systems, electric utilities, railroads, photovoltaic and
critical uninterruptible power supply (UPS) markets; and motive power
batteries for a broad range of equipment uses including lift trucks, mining
and other commercial electric vehicles.
    Transportation uses include automotive, heavy duty, agricultural, marine
and other batteries and new technologies being developed for hybrid vehicles
and new 42-volt automobile applications.  Further information on Exide
Technologies, its financial results and other recent events can be found on
the Internet at http://www.exide.com.

    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 differ materially from
any results or estimates expressed or implied by such forward-looking
statements.  These are enumerated in further detail in the company's Form
10-K.

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