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Exide Announces Sale Completion of Battery Separator Facility

23 December 1999

Exide Announces Sale Completion of Battery Separator Facility

    READING, Pa., Dec. 23 -- Exide Corporation , the
global leader in the lead-acid battery business, announced today that it has
completed its previously announced sale of 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.
    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.
Net cash proceeds from the sale, approximately $25 million, will be used to
reduce debt.  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.