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EXIDE ELECTRONICS ANNOUNCES SUCCESSFUL COMPLETION OF DEBT OFFERING

RALEIGH, N.C., March 8 /PRNewswire/ -- Exide Electronics Group, Inc. (Nasdaq: XUPS), announced today the successful completion of an offering of 125,000 units consisting of $125 million principal amount of 11 1/2% senior subordinated notes due 2006 and warrants to purchase 643,750 shares of common stock. The warrants have an exercise price of $13.475 and will represent approximately 5.5% of the company's fully diluted common stock.

The proceeds from the offering will be used to fund a portion of the purchase price of the previously announced acquisition of Deltec Power Systems, Inc. and its subsidiaries from Fiskars Oy Ab and Fiskars Holdings, Inc. The balance of the acquisition price will be funded with borrowings under a new senior credit facility and the issuance of 825,000 shares of common stock and 1,000,000 shares of convertible preferred stock.

Marty Kittrell, Vice President and Chief Financial Officer of Exide Electronics stated, "The offering was increased to $125 million from $100 million due to the strong demand for the units. Deltec is one of the fastest growing suppliers of uninterruptible power systems with particular strengths in small systems and Europe. It is an excellent complement to Exide Electronics' existing business." Closing on the senior subordinated notes, the new senior credit facility and the acquisition should take place next week.

Lead manager for the offering was Donaldson, Lufkin & Jenrette. Co- managers were J.P. Morgan & Co. and NationsBanc Capital Markets, Inc. The offering was made under the SEC Rule 144-A. Moody's Investor Service assigned a B3 rating and Standard & Poor's Rating Group assigned a Single-B rating to the senior subordinated notes. It is the first time that either agency has rated the debt of Exide Electronics.

Deltec designs, manufactures, markets, sells and services a broad line of uninterruptible power supply ("UPS") products and power management software worldwide through its principal operating subsidiaries, Deltec Electronics Corporation, which is headquartered in San Diego, California, and FPS Power Systems Oy Ab ("FPS"), which is based in Espoo, Finland.

Headquartered in Raleigh, NC, Exide Electronics provides Strategic Power Management(TM) solutions to a broad range of businesses and institutions worldwide, including many Fortune 1000 companies. Exide Electronics' products are used for financial, medical, industrial, telecommunications, military, and aerospace applications - wherever continuous power is essential to daily operations.
 -0- 3/8/96


/CONTACT: Investor: Marty Kittrell, Chief Financial Officer, 919-872-3020, or Media: Karin Cram, Corporate Communications, 919-870-3239, both of Exide Electronics Group, Inc./

(XUPS)

CO: Exide Electronics Group, Inc. ST: North Carolina IN: CPR SU: OFR

JB -- CHF001 -- 1502 03/08/96 09:21 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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