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Exide Technologies Reports Operating Income Up 36% For Its Fiscal 2011 Third Quarter

As of December 31, 2010, the Company had cash and cash equivalents of $92.3 million and $124.3 million of availability under its revolving bank credit facility. This compares to cash and cash equivalents of $89.6 million and $124.6 million availability under the revolving bank credit facility at March 31, 2010. The Company generated $22.9 million free cash flow for the nine months ended December 31, 2010 as compared to free cash flow of $23.7 million for the same period of fiscal 2010.

As previously disclosed, on January 25, 2011, the Company completed its private placement of $675 million of 8 5/8% Senior Secured Notes due 2018 and replaced its $200 million asset-based Revolving Credit Facility. The refinancing added approximately $76 million in cash to the balance sheet at closing.

Segment Information for the Three and Nine Months Ended December 31, 2010

Transportation Segments

Net sales of the Company's combined Transportation segments in the fiscal 2011 third quarter were $522.9 million as compared to $487.3 million in the same period of fiscal 2010. Net sales were negatively impacted by unfavorable foreign currency translation of ($15.2 million). Net sales increased approximately 10.4% excluding the unfavorable foreign currency translation. Price increases resulting from lead escalator agreements positively impacted total Transportation net sales by $20.6 million in the fiscal 2011 third quarter as compared to the same period of fiscal 2010.

Fiscal 2011 third quarter aftermarket unit volume for Transportation Americas was approximately 4% lower as compared to the prior year third quarter with the OE channel units about flat as compared to the prior year period. Aftermarket unit volume for Transportation Europe & ROW was approximately 18% higher in the fiscal 2011 third quarter as compared to the prior fiscal year period while the OE channel was about 9% lower as compared to the prior year period.

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