Exide Technologies Files Plan of Reorganization

    PRINCETON, N.J.--July 11, 2003--Exide Technologies (OTCBB: EXDTQ), a global leader in stored electrical energy solutions, today announced that it has filed a Plan of Reorganization ("Plan") with the U.S. Bankruptcy Court for the District of Delaware.
    Under the proposed Plan, which is subject to certain creditor approval and confirmation by the Bankruptcy Court, Exide will emerge from Chapter 11 with dramatically reduced debt and a reorganized capital structure. The key elements of the Company's proposed Plan include a debt-for-equity exchange and the cancellation of all existing common stock.
    Craig Muhlhauser, Chairman, Chief Executive Officer and President of Exide Technologies, said, "The filing of our Plan represents a significant milestone on our path toward emergence from Chapter 11. We are confident that the Plan provides Exide with a strong financial foundation for the future. We continue to be on track to emerge from Chapter 11 before the end of the year."
    The Company said that it continues negotiations with lenders on the terms of exit financing. Additionally, the Company said that it is preparing and expects to file its Disclosure Statement with the Bankruptcy Court in the near term.
    Exide has established a toll-free number to answer questions regarding the Company's Plan of Reorganization. The toll-free number is 1-800-821-EXIDE (3943) or 212-515-1962.

    About Exide Technologies:
    Exide Technologies, with operations in 89 countries and fiscal 2003 net sales of approximately $2.35 billion, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's three global business groups - transportation, motive power and network power -- provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
    Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and 42-volt automotive applications. Industrial markets include network power applications such as telecommunications systems, fuel-cell load leveling, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
    Further information about Exide and its financial results are available at 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 that may cause the actual results of the company to be materially different from any results expressed or implied by such forward-looking statements, including without limitation creditor and Bankruptcy Court approval of the Plan and obtaining adequate exit financing. These and others are enumerated in further detail in the Company's Form 10-K.