Exide Technologies Reaches Settlement With United States

Exide Technologies XIDE and the United States government have reached an agreement, contingent on federal bankruptcy court approval, to settle the U.S. government's proofs of claim filed on behalf of the Environmental Protection Agency and the National Oceanic and Atmospheric Administration in the Company's 2002 bankruptcy matter. The United States will be allowed a total general unsecured, non-priority P4-A claim of approximately $67.6 million, distribution of which will be made solely in Exide stock. As general unsecured claims have been allowed in the Bankruptcy Court, the Company has distributed approximately one share of common stock for every $383.00 in allowed claim amount. A reserve of common stock was set aside upon the Company's emergence from bankruptcy to resolve various bankruptcy claims, including those of the U.S. government. This will therefore cause no further dilution to the company's issued and outstanding common stock.