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Exide and State of Florida Reach Settlement

27 May 1999

Exide and State of Florida Reach Settlement

    READING, Pa., May 26 -- Exide Corporation , the
world's largest suppliers of lead acid batteries, has reached a settlement
with the Attorney General of Florida regarding allegations against the
business practices of the Company and its former management.
    Under the terms of the agreement Exide will pay the state of Florida
$2.75 million, with $1.25 million to be directed to a Florida university to be
chosen by the attorney general.  In addition, Exide has agreed to certain
other items of restitution at an estimated cost of $500,000.
    Robert A. Lutz, Chairman, President and Chief Executive Officer of Exide,
said, "As the Attorney General has noted in the agreement and his statement,
nothing in this settlement constitutes an admission of wrongdoing.  However,
we are pleased to have the last of the major legal issues regarding the former
management of the Company behind us, allowing us to go forward as one of the
standard-bearers of our industry."
    The accusation from the attorney general's office dealt with Exide
batteries sold through retail outlets from 1993 to 1998.
    Exide Corporation, with annual revenues of more than $2.2 billion and
operations in 19 countries, is the world's largest manufacturer of automotive
and industrial lead-acid batteries.  Further information about Exide's
businesses and products is available at http://www.exideworld.com.