Spectrum Brands Receives Commitment
of up to $242 Million in Exit Financing

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Spectrum Brands

ATLANTA, Ga. - Spectrum Brands today announced that it has received a commitment for up to $242 million in exit financing from General Electric Capital Corporation. This credit facility, which will be secured by the Company's and its U.S. subsidiaries' current assets, would replace the Company's current $235 million debtor-in-possession (DIP) credit facility on the effective date of a Plan of Reorganization.

The financing is subject to the satisfaction of customary conditions to closing, including, without limitation, confirmation of the Plan of Reorganization by the bankruptcy court, the execution and delivery of definitive documentation, compliance with a minimum excess availability threshold and the payment of certain fees and expenses and would be available to Spectrum Brands to help meet its ongoing working capital needs.

Spectrum Brands and its U.S. subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division on February 3, 2009. The main case number is 09-50455. The Company's non-U.S. operations, which are legally separate, are not included in the Chapter 11 proceedings.

Additional information about the restructuring is available on the Company's web site at spectrumbrands.com.

About Spectrum Brands, Inc.

Spectrum Brands is a global consumer products company and a leading supplier of consumer Batteries, specialty pet supplies, shaving and grooming products, household and lawn insect and pest control products, personal care products and portable lighting. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in more than 120 countries around the world.

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