Rayovac and Leading European-Based Battery Maker Varta Close Transaction

10/01/02

MADISON, Wis. and HANNOVER, Germany, Oct. 1 /PRNewswire-FirstCall/ --

Rayovac (NYSE: ROV) of Madison, Wis. today announced the completion of its previously announced (July 29, 2002) transaction with Varta AG, Hannover, Germany to combine Varta's global consumer battery business with Rayovac.

(Photo: http://www.newscom.com/cgi-bin/prnh/20020716/ROVLOGO )

Rayovac will conduct a live webcast on October 10, 2002 at 1:15 p.m. (Eastern) to discuss details of the Varta transaction. To access the webcast, go to the home page of www.rayovac.com for a link to the registration page or type in the URL address of http://www.firstcallevents.com/service/ajwz366154150gf12.html . For those who cannot participate during the live webcast, it will be archived for two weeks on the Rayovac web site under About Rayovac/Investor Resources.

Rayovac is one of the world's leading battery and lighting device companies. The company also markets the number one selling rechargeable brand of battery in the U.S. and is the world leader in hearing aid batteries. Rayovac trades on the New York Stock Exchange under the ROV symbol.

Certain matters discussed in this news release, with the exception of historical matters, are forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. These statements are subject to a number of risks, uncertainties and other factors that could cause results to differ materially from those anticipated as of the date of this release.

Actual results may differ materially from these statements as a result of (1) changes in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (2) changes in consumer demand for the various types of consumer batteries, (3) changes in the general economic conditions where we do business, such as stock market prices, interest rates, currency exchange rates, inflation and raw material costs, and (4) various other factors, including those discussed herein and those set forth in the Company's most recent Form 10-Q, Annual Report on Form 10-K and the prospectus supplement for the Company's most recent offering of its common stock.

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SOURCE Rayovac Corporation

    -0-                             10/01/2002

/CONTACT: John Daggett of Rayovac Corporation, +1-608-275-4912/

/Photo: http://www.newscom.com/cgi-bin/prnh/20020716/ROVLOGO

AP Archive: http://photoarchive.ap.org

PRN Photo Desk, 888-776-6555 or 212-782-2840/

/Web site: http://www.rayovac.com /

/Audio: http://www.firstcallevents.com/service/ajwz366154150gf12.html /

(ROV)

CO:  Rayovac Corporation; Varta AG
ST:  Wisconsin, Germany
IN:  CHM HOU
SU:  CCA MAV TNM

CK-JA
-- MNTU007 --
4668 10/01/2002 17:00 EDT http://www.prnewswire.com