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Exide Provides Further Comment on October 15th Announcement

22 October 1998

Exide Provides Further Comment on October 15th Announcement

                 State of Wisconsin Investment Board Receives
                    Permission to Increase Equity Position

    READING, Pa., Oct. 21 -- On a conference call today with
investors and analysts, Exide Corporation expanded upon its
October 15th announcement with the following information:

    * The Company believes that its earnings for its second quarter ended
      September 27, 1998, to be reported on October 27th, will be either at
      the higher end or possibly better than the ($.05) per share to $.10 per
      share range it earlier assumed.

    * Exide maintains an ongoing dialogue with its bank group and remains in
      compliance with all of its covenants and does not see any covenant
      problems.

    * Exide's operating income for the second quarter is expected to show
      significantly lower deterioration (on a per share basis) from last year,
      as compared to the deterioration in second quarter FY '99 earnings per
      share, when compared to the same period last year.  This deterioration
      comes mainly from increased costs related to the resumption of full
      production at its Bristol facility; a $2.8 million bad debt charge
      related to bankruptcy filings by three large customers; higher operating
      costs in its branch network; and a shift in its sales mix to lower
      margin products.

    * Since its announcement last week, the Company has moved aggressively on
      its search for a chief executive officer and received suggestions of
      outstanding candidates.

    Chief Financial Officer, Jim Diasio indicated that "In spite of the fact
that the announcement we made last week came at the highest borrowing period
of the year, Exide continues to be a healthy Company."  The Company expects
liquidity and cash flow to grow to $100 million by the end of the year and to
$140 million to $150 million by the end of this fiscal year.
    The State of Wisconsin Investment Board (SWIB), Exide's largest
shareholder, asked for and obtained approval to increase its equity ownership
up to a maximum of 20% on October 16, 1998.  If the State of Wisconsin
Investment Board increases its equity position in Exide, it would be strictly
for investment purposes.
    Arthur R. Taylor and Robert Irwin, Exide's Executive Committee of the
Board of Directors said, "The State of Wisconsin Investment Board's request
for authority to increase its equity stake is a strong vote of confidence in
the long term prospects of Exide.  We are please to have their support."
    John Nelson, an Equity Investment Director at the State of Wisconsin
Investment Board said, "The recent management changes at Exide are an
important step towards the Company beginning to achieve it s full potential."
    Robert Irwin, Exide's acting CEO and Board Member said "Exide is moving
forward with important changes that will enable us to resume a course of
profit growth and debt reduction.  We will concentrate on building our market
position, improving cash flow and reducing debt.  We also believe our decision
to expand our board will enable us to draw on the experience of proven
industry leaders who will greatly contribute to the Company's success."
    The Company said that it is working to address certain aspects of Exide's
fixed cost structure as well as selling corporate jets and other
non-productive assets.
    Exide Corporation is the world's leading manufacturer of automotive and
industrial lead-acid batteries.  Sales exceeded $2.2 billion in FY '98 and the
Company has operations in 19 countries worldwide.  Exide has significant
additional interest in related technologies including battery chargers,
accessories, starters, and alternators.  Further information about Exide's
businesses and products are available at http://www.exideworld.com.

    Certain statements in this press release may constitute forward-looking
statements under 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 be materially different from any
results expressed or implied by such forward-looking statements.  These are
enumerated in further detail in the Company's Form 10-K.