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Exide Adopts a Preferred Share Purchase Rights Plan

21 September 1998

Exide Adopts a Preferred Share Purchase Rights Plan

    BLOOMFIELD HILLS, Mich., Sept. 21 -- Exide Corporation
today announced that its Board of Directors had adopted a Preferred
Share Purchase Rights Plan and declared a dividend distribution to be made to
stockholders of record on September 29, 1998, of one Preferred Share Purchase
Right on each outstanding share of the Company's common stock.  Each Right
will entitle stockholders to buy one one-thousandth of a share of a new series
of junior participating preferred stock for an exercise price of $60.00.
    The Rights contain provisions which are intended to protect the Company's
stockholders in the event of an unsolicited attempt to acquire the Company at
an unfair price.  The Company is not aware of any such attempt at present.
    The Rights will be exercisable only if a person or group (with certain
exceptions) acquires, or announces a tender offer, for 15% or more of the
Company's common stock.  The Company may exchange the Rights for the Company's
common stock on a one-for-one basis at any time after a person or group has
acquired 15% or more of the outstanding common stock.  The Company will be
entitled to redeem the Rights at $.01 per Right (payable in cash or common
stock of the Company, at the Company's option) at any time before public
disclosure that a 15% position has been acquired.
    The Rights will expire on September 18, 2008, unless previously redeemed
or exercised.  The distribution of the Rights is not a taxable event to
stockholders.
    Additional details of the Rights distribution will be provided to the
stockholders.
    Exide Corporation, with over $2.2 billion in sales, is the world's leading
manufacturer of lead-acid batteries.  Headquartered in Bloomfield Hills,
Michigan, with administrative offices in Reading, Pennsylvania, Exide also has
significant interest in related technologies.