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Exide Announces Sale of Its Speed Clip Accessories Business

1 December 1999

Exide Announces Sale of Its Speed Clip Accessories Business

    READING, Pa., Dec. 1 -- Exide Corporation , the
global leader in the lead-acid battery business, announced today that it has
sold its Speed Clip accessories business in Bristol, TN to Prestolite Wire
Corporation of Southfield, MI as part of its program to divest non-core
assets.  Exide received approximately $6 million in cash with Prestolite Wire
also assuming certain liabilities.  Proceeds from this sale will be used to
reduce debt.
    Speed Clip manufactures over 2,700 different products, including battery
cables, battery accessories, terminals, wrenches and other automotive items.
Prestolite Wire has indicated that the Speed Clip operation will be a core
component of its aftermarket business.
    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.