Exide ties up with UK-based research organization

Mumbai, 8th August, 2007: Exide Industries Limited, the largest manufacturer of Lead acid storage batteries in South Asia announced today that it has entered into an agreement to jointly develop bi-polar technology with Atraverda Limited, UK, a research organization which has patented Ebonex® technology. If successful, this would make Lead acid batteries smaller, lighter and more environmentally friendly. This joint research will enable Exide to develop bi-polar Lead acid batteries for a range of power storage applications.

Mr T V Ramanathan, Managing Director & CEO of Exide stated that, "the agreement with Atraverda is a small but significant step towards reinforcing Exide's technology leadership. We have a track record of continuous upgradation of technology in respect of Lead acid storage batteries over the last few decades."

Dr S K Mittal, Director "� Research & Development of Exide stated that, " the development of bi-polar technology will take place at the new research block recently commissioned at Kolkata."

Exide was the first Indian battery manufacturer to be accepted by Maruti Suzuki when they started operations in India. Exide were the first to introduce polypropylene batteries in the market and the first to come out with zero maintenance sealed batteries in India.

Commenting on the tie up, Mr Andrew Dixey, Group CEO of Atraverda said "the agreement with Exide is a great step for Atraverda. By harnessing Exide's experience, contacts and industry know how, we can evaluate the real impact of our Ebonex ® technology.

Notes to Editors

About Exide Industries Limited, India

With seven manufacturing plants strategically located across the country, Exide Industries Ltd, is the country's largest producer of lead acid storage batteries both for automotive and industrial applications. Its range of products covers everything from the smallest batteries required in motorcycles to the giant batteries powering submarines and virtually everything in between. In automotive batteries the company controls a market share of over 80 per cent in the OE business and above 75 per cent in the branded replacement market. In industrial batteries the company enjoys more than 50 per cent market share. Its customer range includes some of the largest global names like Toyota, Honda, General Motors and APC among others. Exide's products are exported to Western Europe, Far East, Middle East, Australia and Africa.

For the year 2006-07 the company registered a sales turnover of Rs 2400 crore and a net profit of Rs 235 crore. It has an uninterrupted dividend payment track record of 60 years. The company has a global presence through its subsidiaries in Singapore, Sri Lanka, the United Kingdom and a joint venture in Australia.

About Atraverda Limited, UK

Atraverda is making revolutionary energy solutions a reality. Its patented Ebonex® technology is the first commercially viable Bi-Polar product to enter the market and makes lead-acid batteries smaller, lighter and more environmentally friendly.

The arrival of Ebonex® technology signifies a new era for the battery manufacturing industry and its customers. With the backing of global investors its technology will be manufactured across the world to service a host of markets: standby power, mobility, military, telecoms, automotive including hybrid electric vehicles. Ebonex® bi-polar batteries use significantly less lead while being highly recyclable like conventional lead-acid batteries delivering a dependable, environmental-friendly technology.

Backed up by highly experienced senior management and technical teams, Atraverda is an ambitious and fast-growing international company based in Wales, UK, focused on realizing the potential of its unique, world-class technology.

Atraverda has five key partners:

The Generics Group, Cambridge, UK Scottish Equity Partners, Scotland, UK Wales Fund Managers, UK Enertech Capital, USA OnPoint Technologies, USA Atraverda has been voted one of the top 25 most promising technology companies by the English Technology Tour 2004.