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Exide Corporation Announces New Global Credit Facility and Call of 10-3/4% Notes

22 December 1997

Exide Corporation Announces New Global Credit Facility and Call of 10-3/4% Notes

    BLOOMFIELD HILLS, MI, Dec. 22 -- Exide Corporation
(NYSE; EX), the world's largest manufacturer of lead-acid batteries, today
announced that it has entered into a new $650 million Global Credit Facility
led by Lehman Brothers Inc. and Credit Suisse First Boston.
    The new multi-currency facility replaces the Company's two existing bank
facilities, which were geographically focused rather than global.  The
facility will also be used to finance the redemption of the company's 10-3/4%
Senior Notes which were called today.
    "This credit facility will decrease the Company's borrowing costs as well
as allow Exide to more effectively and efficiently manage its capital
structure and cash flows," said Alan E. Gauthier, executive vice president and
chief financial officer.
    The facility has been extremely well received by the banking and
investment communities and will fund Tuesday, December 23, 1997.
    Exide Corporation is headquartered in Bloomfield Hills, Michigan, with
administrative offices in Reading, Pennsylvania.  Exide is traded on the New
York Stock Exchange under the symbol "EX."

SOURCE  Exide Corporation