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Exide Technologies Updates Discussions Regarding Government Investigation

10 January 2001

Exide Technologies Updates Discussions Regarding Government Investigation

    PRINCETON, N.J., Jan. 10 As reported previously, Exide
Technologies has received subpoenas from the United States Attorney
for the Southern District of Illinois relating primarily to the company's past
business relationship, under its former management, with Sears, Roebuck & Co.
Based upon positions the government has taken in recent discussions, the
company now believes that it is likely that it will be indicted or required to
enter into a plea agreement that could include a substantial fine.
    "We have cooperated fully with the government in its investigation and we
still hope to resolve this matter," said John Van Zile, Exide's Executive Vice
President and General Counsel.  "As we have stated before, we are currently in
litigation with former management to recover damages concerning some of the
same issues that have been the focus of the U.S. Attorney's investigation."
    "Over the past two years, we've cleaned house here at Exide and put this
company back on track," said Chairman and Chief Executive Officer Robert A.
Lutz.  "While we are disappointed that the investigation could result in a
fine, it does not detract from our accomplishments and is not deterring us
from moving forward aggressively with our plans to continue taking advantage
of the exciting opportunities in our key markets."
    As the company is involved in ongoing discussions with the U.S. Attorney
regarding this issue, Exide cannot comment further.
    Exide Technologies can be found on the Internet at http://www.exideworld.com.

    Certain statements in this press release may constitute forward-looking
statements as defined by the Securities Litigation Reform Act of 1995.  As
such, they involve known and unknown risks, uncertainties and other factors,
which may cause the actual results of the Company to be materially different
from any results expressed or implied by such forward-looking statements.
These are enumerated in further detail in the Company's Form 10-K.