Investor Relations

Rayovac's IPO Effective

11/20/97
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MADISON, Wis., Nov. 20 /PRNewswire/ -- Rayovac Corp. (NYSE: ROV) announced today that the registration statement for its initial public offering has become effective. A total of 6.7 million shares is being offered at $14 per share through an underwriting syndicate consisting of: Merrill Lynch; Bear Stearns; Donaldson Lufkin & Jenrette; and Smith Barney.

In connection with the underwritten offering, certain shareholders of the Company have granted to the underwriters 30-day options to purchase up to 1,005,000 additional shares solely to cover over-allotments; the company will not receive any proceeds from shares sold pursuant to exercise of such options. The net proceeds from the sale of shares by the company will be used to repay debt. Rayovac's common stock will be traded on the New York Stock Exchange under the symbol "ROV." Concurrently with the underwritten offering, the Company expects to sell approximately 137,000 shares directly to certain participants in the Company's Profit Sharing and Savings Plan.

With its world headquarters in Madison, Wis., Rayovac is a leading manufacturer of batteries and battery-operated lighting products. Rayovac has operations in Wisconsin, California, Tennessee, the U.K., Europe and the Far East.
SOURCE Rayovac Corporation
CONTACT: John Daggett of Rayovac, 608-275-4912

Safe Harbor Disclaimer

Certain matters discussed herein, with the exception of historical matters, are forward-looking statements which involve risks and uncertainties. Actual results may differ materially from these statements as a result of changes in external competitive market factors, unanticipated changes in the company's industry, or the economy in general, as well as various other factors, including those discussed herein and those set forth in the Company's most recent Annual Report on Form 10-K.

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