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Exide Elects New Chief Executive Officer

16 November 1998

Exide Elects New Chief Executive Officer; Robert A. Lutz Joins Exide December 1st

    READING, Pa., Nov. 16 -- Exide Corporation , the
world's leading manufacturer of lead-acid batteries, today announced the
election of Robert A. Lutz as Chairman, President and Chief Executive Officer.
He assumes this role December 1, 1998.
    Lutz, former vice Chairman, President and Chief Operating Officer of
Chrysler Corporation, was a major architect of the second turnaround and rapid
return to success of Chrysler.
    "I am very pleased and proud to have been elected CEO of Exide and am
anxiously looking forward to the challenges of this position," Lutz said.  "My
goal is to maximize the full potential of Exide, making it not only the
biggest, but the best and most profitable battery company in the world, and
one of the most respected Fortune 500 companies."
    "Exide is very fortunate Mr. Lutz has accepted our offer" said Robert H.
Irwin, a member of Exide's Executive Committee.  "In searching for a Chief
Executive Officer to lead Exide, the Board of Directors established demanding
criteria.  Bob Lutz exceeds all of those criteria.  We could not have chosen a
better individual.  His work ethic, stature in the industry, integrity and
demonstrated managerial ability made him our obvious choice."
    Exide Corporation, with more than $2.2 billion in sales, is the world's
leading manufacturer of lead-acid batteries.  Headquartered in Bloomfield
Hills, MI, with administrative offices here, Exide also has significant
interest in related technologies.