---

Exide Announces Divestiture of Battery Separator Facility

5 November 1999

Exide Announces Divestiture of Battery Separator Facility

    READING, Pa., Nov. 4 -- Exide Corporation , the
global leader in the lead-acid battery business, announced today that it has
reached agreement to sell its battery separator operations in Corydon, IN to
Daramic, Inc. of Burlington, MA, a member of The InterTech Group, the
separator industry leader in technology, production capability and market
share.
    James M. Diasio, chief financial officer at Exide Corporation, said, "We
are pleased to have reached agreement on these operations.  This is the first
transaction of our previously stated plan to divest non-core assets.  The
proceeds from this sale, as well as the future sale of other non-core assets,
will be used to reduce debt."
    As part of the agreement, Exide will enter into a multi-year agreement to
purchase a major portion of its North American battery separator needs from
Daramic, which is presently a supplier of battery separators to Exide Europe.
Other terms of the agreement remain confidential.  Closing is expected in
early December.  No reduction in the workforce at Corydon is expected as a
result of the sale.
    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.