ALPHARETTA, GA -- Exide Technologies announced that it had filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2005 on June 29, 2005.

On a combined basis, as noted in the Form 10-K, the company reported net sales of $2.69 billion in fiscal 2005 compared with $2.5 billion in fiscal 2004. This increase was principally attributable to currency benefits and lead-related pricing actions.

Net income as reported (including the effect of Fresh Start accounting) was $1,281.6 million in fiscal 2005 compared with a net loss of $114.1 million in fiscal 2004.

The company uses adjusted EBITDA here as a key measure of its operational financial performance, and it is also a key element of the covenants in its bank agreements. This measure underlies the company's operational performance and excludes the nonrecurring impact of the company's current restructuring actions.

Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization and restructuring charges. The company's adjusted EBITDA definition also adjusts reported earnings for losses from discounts on sales of accounts receivable, the effect of noncash currency remeasurement gains or losses, the noncash gain or loss from revaluation of the company's warrants liability and noncash gains or losses on asset sales.

The company's final results were at the higher end of preliminary expectations announced to the investment community on May 16, 2005. At that time, Exide provided an expectation that it would report adjusted EBITDA in the range of $100-107 million. The company's actual results reported for the fiscal year ended March 31, 2005 reflect adjusted EBITDA of $105.7 million.

Exide management also indicated that as a result of securing the amendment of its Credit Agreement, announced yesterday, certain debt obligations amounting to approximately $600 million, which had been classified as current in the consolidated balance sheet as of March 31, 2005, would be reclassified as non-current in future filings.

Exide plans to conduct a conference call in July to provide the investment community with a business update.

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