Exide Ends Sears Contract

3 March 1999
Exide Ends Sears Contract
    READING, Pa.,, March 2 -- Exide Corporation , the
world's largest supplier of lead-acid batteries, today announced it and the
Sears Automotive Group have decided to end their five-year relationship.
Exide will continue supplying Sears with DieHard and other batteries for a
transition period.
    The conclusion of the relationship is consistent with Exide's plans to
concentrate on higher-profit business versus volume, reflecting a change in
management philosophy under the leadership of new Chairman, President and
Chief Executive Officer Robert A. Lutz.
    "We are going to examine all aspects of our business with an eye toward
maintaining and expanding relationships which are profitable and provide true
shareholder value," explained Lutz who joined Exide December 1.  "While Sears
has been a significant customer, relinquishing this business marks a major
first step in Exide's new approach."
    Exide does not expect the change to have a material adverse effect on the
company.  No plant closures are expected as a result of this decision.
    "We are highly confident of our ability to bring in additional, profitable
sales to absorb capacity freed up by the loss of the Sears account," Lutz
said.
    Exide Corporation, with operations in 19 countries, is the world's leading
manufacturer of automotive and industrial lead-acid batteries.  Sales exceeded
$2.2 billion in fiscal year 1998.
Exide has significant additional interest in related technologies including
battery chargers accessories, starters and alternators.  Further information
about Exide is available at http://www.exideworld.com.
    Certain statements in this press release may constitute forward-looking
statements under the Securities and 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.