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Exide Corporation Addresses Earnings Estimates and Loan Covenants

21 October 1999

Exide Corporation Addresses Earnings Estimates and Loan Covenants

    READING, Pa., Oct. 20 -- In response to unusually heavy
trading in its common stock, management of Exide Corporation said
today that the company's business is progressing according to its internal
expectations and it is confident that its earnings per share for the quarter
ended October 3, 1999 will be within the range of analysts' forecasts.
    Robert A. Lutz, Chairman and Chief Executive Officer of Exide Corporation,
said, "We will be releasing our complete earnings announcement as scheduled on
November 3 and have seen nothing material related to our results to have
caused such increased trading volume in the interim."
    The company also announced that it has amended its global credit
agreement.  While Exide was within the covenants of its existing agreement,
the company said an amendment was desirable to allow it to sell certain
assets, to make potential acquisitions, to outsource some manufacturing
functions and to provide additional time to reduce indebtedness.
    James M. Diasio, Chief Financial Officer at Exide, said, "This amendment
allows us more latitude on a permanent basis to conduct our business and
execute our growth strategies."
    Exide Corporation, with annual revenues of approximately $2.4 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.