Murray Capital Management Files Suit against Exide Technologies and Deutsche Bank; Securities Fraud Alleged Relating to March 2005 Note Offering

NEW YORK--Oct. 6, 2005--Exide Technologies and Deutsche Bank Securities were named in a lawsuit alleging fraud and violations of the Securities Exchange Act of 1934.

The lawsuit, brought by Murray Capital Management, Inc., alleges violations by both Exide and Deutsche Bank Securities of the Securities Exchange Act of 1934, common law fraud, negligent misrepresentation, breach of fiduciary duty, negligence and unjust enrichment associated with the sale by Exide of $290 million principal amount of 10.50% senior notes and $60 million principal amount of convertible floating rate notes issued in a private placement on March 18, 2005.

Deutsche Bank Securities, acting as joint book running manager, marketed the notes on behalf of Exide. Deutsche Bank AG acts as agent bank under Exide's senior bank facility.

The complaint, filed in the United States District Court, Southern District of New York, also names Craig Muhlhauser, President and CEO of Exide until his resignation in April 2005, and J. Timothy Gargaro, Chief Financial Officer and Executive Vice President of Exide.

Exide is also being sued by certain of its common stockholders in two other lawsuits. Furthermore, Exide has disclosed that it has been informed by the Enforcement Division of the SEC that it has commenced a preliminary inquiry into statements Exide made earlier in 2005 about Exide's ability to comply with its fiscal 2005 loan covenants and the going concern qualification in the audit report in its Annual Report on Form 10-K for fiscal 2005 filed with the SEC in June 2005.

Scott Beechert, General Counsel of Murray Capital Management, Inc., stated that "we are seeking full recovery on behalf of our clients for the decline we experienced in the value of our Exide securities in May 20, 200505."

As disclosed in Exide's Form S-3 filed on September 14, 2005, Murray Capital Management, Inc. notified Exide and Deutsche Bank Securities in August of 2005 that Murray Capital Management intended to pursue a recovery of its losses, including, if necessary, through legal action.

Murray Capital Management, Inc., a private investment firm based in New York City, was founded in 1995 and manages funds on behalf of its clients in excess of $550 million.