Reading, PA DATE MARCH 22ND, 2002 -- EnerSys, one of the world leading providers of stored DC power products, systems and services, has finalized its acquisition of the Energy Storage products group of Invensys plc., headquartered in Chippenham, England. EnerSys, along with the newly acquired Energy Storage products group, provides advanced stored energy solutions to markets such as utilities, uninterruptible power supply (UPS), telecommunications, data communications, internet and materials handling.

In announcing the close of the acquisition, John D. Craig, Chairman, President and CEO of EnerSys, said, "This acquisition significantly enhances the strategic positioning and scale of EnerSys as we are now the world's largest provider of stored energy solutions. We are very excited about our new company and are pleased to report that since the signing of our definitive agreement many existing and potential customers have contacted us to begin discussions on how EnerSys can further serve their needs. It is also very reassuring that even with the many concerns surrounding the current economy that our financial backers still recognize the inherent value of this acquisition.

Our expanded product portfolio will continue to serve two main markets; Motive Power, serving the OEM and aftermarket material handling, railway and mining markets through the Exide, General and Hawker line of products and Reserve Power, serving utilities, uninterruptible power supply (UPS), telecommunications, data communications and internet markets through our Powersafe, datasafe and Genesis line of products. In addition, we will continue to serve the other specialty markets we have served in the past.

Our combined worldwide manufacturing and distribution network better positions us to serve our expanding customer base both globally and locally. Finally, as the pre-eminent manufacturer of industrial stored energy solutions we will continue to attract and retain the most capable and talented employees in the industry. These expanded capabilities, coupled with the financial strength of our partner, Morgan Stanley Capital Partners, will allow us to lead our industry in the introduction of ever improving stored energy solutions."

The company will employ approximately 7,000 employees at multiple manufacturing locations globally, with offices in over 27 countries. The organization will continue to operate as EnerSys with its worldwide headquarters in Reading, Pennsylvania, USA and divisional headquarters in Europe and Asia.