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Bob Lutz Talks About Turn-Around Plans for Exide Corp.

25 January 1999

Bob Lutz Talks About Turn-Around Plans for Exide Corp. On 'Autoline Detroit' Television Program

    DETROIT, Jan. 22 -- On the television program "Autoline
Detroit," Bob Lutz, the chairman and CEO of Exide Corp. , announced
the company is well underway in a turn-around plan to substantially reduce
debt and boost profitability.  Exide is the world's largest battery maker.  In
addition to reducing debt, dropping unprofitable accounts, and selling a more
profitable mix of batteries, he said the company would use many of the
strategies he used to help turn the Chrysler Corporation around in the early
1990s.
    Lutz said Exide would introduce a new type of battery this spring that
would be the equivalent of "the Dodge Viper" of car batteries.  He promised
the company will launch the new battery as if it were launching a new car.
    In other topics discussed on the program, Lutz says Exide does not hold
much hope for the future of the electric car.  He also questioned the wisdom
of DaimlerChrysler buying part of Nissan, saying any profitable company will
inevitably be diluted by buying an unprofitable one.
    "Autoline Detroit," hosted by John McElroy, Editorial Director of
Automotive Industries magazine, airs Sundays at 10:30 a.m. on Detroit Public
Television.  You can watch "Autoline Detroit" and its companion program the
"Nightly Automotive Report" on the internet at http://www.theautolink.com.
Videotapes are available at http://www.theautolink.com.  Underwriters of
"Autoline Detroit" are Visteon Automotive Systems and General Electric.  It is
produced and distributed by Blue Sky Productions.