Put/Call Order Specification Requirements

This Put/Call Order Specification is made by Energizer Holdings, Inc. (“Counterparty”) for the increase of the Transaction amount under that certain written confirmation dated as of May 31, 2002, as amended from time to time, between Counterparty and Citigroup Global Markets Limited (“Citigroup”) (the “Confirmation”) (capitalized terms not defined herein shall have the meaning given those terms in the Confirmation).

CITIGROUP GLOBAL MARKETS LIMITED IS NOT REGISTERED AS A BROKER-DEALER UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. CITIGROUP GLOBAL MARKETS INC. IS ACTING AS AGENT FOR CITIGROUP GLOBAL MARKETS LIMITED IN CONNECTION WITH THIS TRANSACTION. CITIGROUP GLOBAL MARKETS LIMITED IS YOUR COUNTERPARTY TO THIS TRANSACTION.

1.)   Commencing on November 30, 2005 (such day the “Commencement Date”) under that certain Confirmation (capitalized terms not defined herein shall have the meaning given those terms in the Confirmation), Citigroup will increase the Transaction amount on Counterparty’s behalf pursuant to this Put/Call Order Specification, provided that the total number of Shares applicable to this Put/Call Order Specification shall not exceed 235,000, and the total number of Shares applicable to any particular Tranche Date shall not exceed Rule 10b-18 limits.