Document:

ENERGIZER  DEFERRED  COMPENSATION  PLAN
DECEMBER  6,  2000

                              December  6,  2000

PERSONAL  AND  CONFIDENTIAL

TO:     PARTICIPANTS  IN THE ENERGIZER HOLDINGS, INC. DEFERRED COMPENSATION PLAN
FOR  KEY  EMPLOYEES

The  Energizer  Holdings, Inc. Deferred Compensation Plan for Key Employees (the
"Energizer Plan") provides you the opportunity to defer all or a portion of your
Incentive  Plan  Bonus  and/or  annual  base  salary.  In  general,  deferring
compensation  has the advantage of postponing payment of income tax and allowing
any earnings on the deferred amount to accumulate free of tax until distributed.

                                   ACTION NOW

This  packet  contains  two forms for you to complete and return to Compensation
Resource  Group,  the  company that administers the Energizer Plan, so that they
are  RECEIVED  ON  OR  BEFORE  DECEMBER  29,  2000.

-     2001  Election  Form
-     Beneficiary  Designation  Form

Each  of these forms will be described in more detail below.  Please return both
forms  --  whether  or  not you make a Deferral - to Compensation Resource Group
(CRG)  either  by  fax or mail (in the enclosed pre-addressed envelope), so that
they  are  RECEIVED NO LATER THAN DECEMBER 29, 2000.  If you do not complete and
return  the  enclosed  forms you will not be able to make Deferrals for calendar
year  2001.

                 DEFERRAL OF COMPENSATION FOR CALENDAR YEAR 2001

2001  ELECTION  FORM  -  This "2001 Election Form" controls any Deferral of your
--------------------
Fiscal  Year  2001  Incentive  Bonus and any Deferral of your base annual salary
from  January  1,  2001  through the end of calendar year 2001.  If CRG does not
receive  your  completed "2001 Election Form" by the DECEMBER 29, 2000 deadline,
you  cannot  defer  any  compensation  for  the  calendar  year  2001.

BENEFICIARY  DESIGNATION FORM - Your beneficiary designation selection should be
-----------------------------
made  with  this  form.  If  you  do  not  complete  and  return  this form, the
Beneficiary  Designation  form  you submitted earlier this year will apply.  Or,
alternatively,  you  can select a Beneficiary at any time.  In the event of your
death  prior  to  completing your "Beneficiary Designation Form", payments under
the  Energizer  Plan  will  be  made  to  your  estate.

GENERAL  INFORMATION  ABOUT  THE  ENERGIZER  PLAN
-------------------------------------------------

The  Energizer  Plan  offers  several  features:

     The  ability  to  DEFER  UP  TO  75%  OF  YOUR  ANNUAL  BASE  SALARY.
     INTERMEDIATE-TERM DEFERRAL OPTIONS that allow you to defer compensation for
periods  as  short as three years to help meet shorter-term financial needs such
as  funding  a  child's  college  education or financing a future home purchase.
     Payment  distribution options that provide for lump sum payment or for 5 or
10  year ANNUAL INSTALLMENT PAYMENTS if you have a balance in your account of at
least  $50,000  when  you  leave  Energizer's  employment.
     The  opportunity  to transfer existing account balances, except for Company
matching  contributions,  to  ELEVEN POSSIBLE INVESTMENT FUNDS: nine funds which
mirror  the  returns  of  the Vanguard mutual funds that are available under the
Energizer  Savings  Investment Plan, a Prime Rate Fund, and the Energizer Common
Stock  Fund.
     Incentive  Plan  Bonus  Deferrals into the Energizer Common Stock Fund will
receive  A  25%  COMPANY  MATCH.
     Transaction  flexibility  including  DAILY  INVESTMENT  REALLOCATIONS,
interactive  voice  response  system,  Internet  access  to  account  balance
information,  and  quarterly  account  statements.
     Plan  Administration  by  Compensation  Resource  Group  (CRG)

Company  matching  contributions  under  the  Energizer  Plan  will  VEST  after
thirty-six  (36)  months.  Retirement, death or Disability also will continue to
accelerate  vesting.

NEXT  STEPS
-----------

The  attached  Questions  and  Answers  will give you more information about the
Plan.  Please  review  the  enclosed  information  carefully;  then,  using  the
enclosed  pre-addressed envelope, return both forms -- whether or not you make a
Deferral  -  TO  COMPENSATION RESOURCE GROUP (CRG) EITHER BY FAX OR MAIL SO THAT
THEY  ARE  RECEIVED  NO  LATER  THAN  DECEMBER  29,  2000.

If  you  have  any  questions  concerning  this  information,  please  contact
Compensation  Resource Group at 1-800-405-0911 or Stacy Wegmann at 314-982-1979.

Geraldine  S.  Auger
Vice  President,  Global  HR  Programs
Energizer  Holdings,  Inc.
Telephone  314-982-1215

Enclosures

<PAGE>

ENERGIZER  HOLDINGS,  INC.
Deferred  Compensation  Plan
2001  Election  Form
--------------------

---------------------------------------------       ----------------------------
Participant Name (Last, First, Middle Initial)        Social Security Number

I  have  been  offered  an opportunity to participate in the Energizer Holdings,
Inc.,  Deferred Compensation Plan (the "Plan"). I hereby elect to participate in
the  Plan  and  irrevocably authorize the Company to deduct from my compensation
the  amounts  specified  below:

================================================================================
DEFERRAL ELECTION         PLEASE COMPLETE THE DEFERRAL ELECTION BELOW.  YOU MUST
                          DEFER A TOTAL OF AT LEAST $1,000 TO PARTICIPATE IN THE
                          PLAN.
================================================================================
   BASE  SALARY           I elect to defer _______% of my calendar 2001 Base
                          Salary (maximum deferral is 75%).
================================================================================
   INCENTIVE PLAN BONUS   I elect to defer _______%, OR all up to $_______, OR
                          defer all in excess of $_______  of  my  Year  2001
                          Incentive  Plan  Bonus.
================================================================================
   NON-PARTICIPATION      I elect not to defer calendar 2001 Base Salary or
                          Fiscal Year Incentive Plan Bonus.
================================================================================

================================================================================
CALENDAR  2001  BASE  SALARY  INVESTMENT  ELECTION  (PLEASE  SELECT  IN  WHOLE
PERCENTAGE  INCREMENTS;  TOTAL  MUST  EQUAL  100%)
================================================================================
I elect to invest my calendar 2001 Base Salary deferrals in the following
Measurement Funds:
================================================================================

CALENDAR  2001  BASE  SALARY  INVESTMENT  ELECTION  (PLEASE  SELECT  IN  WHOLE
PERCENTAGE  INCREMENTS;  TOTAL  MUST  EQUAL  100%)
<TABLE>
<CAPTION>

I elect to invest my calendar 2001 Base Salary deferrals in the following Measurement Funds:

<S>                                       <C>                        <C>                    <C>
   Energizer Holdings, Inc. Common Stock  ____%    Vanguard International Growth Fund      ____%
   Prime Rate Fund                        ____%    Vanguard Life Strategy Income Fund      ____%
   Vanguard Wellington Fund               ____%    Vanguard Life Strategy Conservative
   Vanguard 500 Index                     ____%    Growth Fund                             ____%
   Vanguard Windsor II Fund               ____%    Vanguard Life Strategy Moderate Growth  ____%
   Vanguard Small-Cap Index               ____%    Vanguard  Life  Strategy  Growth  Fund  ____%
</TABLE>

================================================================================
FISCAL YEAR 2001 INCENTIVE PLAN BONUS INVESTMENT ELECTION  (PLEASE SELECT IN
WHOLE PERCENTAGE INCREMENTS; TOTAL MUST EQUAL 100%)
================================================================================
<TABLE>
<CAPTION>

I elect to invest my calendar 2001 Base Salary deferrals in the following Measurement Funds:

<S>                                       <C>                        <C>                    <C>
   Energizer Holdings, Inc. Common Stock  ____%    Vanguard International Growth Fund      ____%
   Prime Rate Fund                        ____%    Vanguard Life Strategy Income Fund      ____%
   Vanguard Wellington Fund               ____%    Vanguard Life Strategy Conservative
   Vanguard 500 Index                     ____%    Growth Fund                             ____%
   Vanguard Windsor II Fund               ____%    Vanguard Life Strategy Moderate Growth  ____%
   Vanguard Small-Cap Index               ____%    Vanguard Life Strategy Growth Fund      ____%
</TABLE>

(OVER)

ELECTION OF DATE AND FORM OF PAYMENT FOR 2001 DEFERRALS  (PLEASE SELECT A DATE
AND FORM OF PAYMENT)
================================================================================

    I elect to receive _______% of my calendar 2001 Base Salary Deferrals and/or
    my Fiscal Year 2001 Incentive Plan Bonus Deferrals and the associated
    earnings, on  ___________________(cannot  be  sooner  than January 1, 2005).
    I understand that if my  employment  terminates  for any reason prior to the
    date I elected above,  my  benefit  will be paid to me  upon  my termination
    of employment.

    I elect  to  receive my calendar 2001 Base Salary Deferrals and/or my Fiscal
    Year 2001 Incentive Plan Bonus Deferrals upon the termination of my
    Employment for  any  reason.
================================================================================
Upon  termination of my employment for any reason, I elect to receive payment of
my  entire  Account  Balance  in  the  following  form  (check  one  below):

________  Lump Sum     ________  5 Annual Payments   ________ 10 Annual Payments

I  understand  that if my vested account balance is less than $50,000 my account
will  be  paid  to  me  in  a  lump  sum.
================================================================================

ACCEPTED AND ACKNOWLEDGED:

-----------------------------  -------------------------------------------------
SIGNATURE OF PARTICIPANT DATE  FOR ENERGIZER PLANS ADMINISTRATIVE COMMITTEE DATE

MAIL  OR  FAX  TO:
CLARK/BARDES  CONSULTING  -  COMPENSATION  RESOURCE  GROUP
ATTN:  LAURA  POPE
633  WEST  FIFTH  STREET,  52ND  FLOOR
LOS  ANGELES,  CA  90071
FAX  (213)  438-6600

<PAGE>
ENERGIZER  HOLDINGS,  INC.
Deferred  Compensation  Plan
2001  Election  Form  for  Directors
------------------------------------

------------------------------------------------     ---------------------------
Participant's Name (Last, First, Middle Initial)     Social Security Number

I  have  been  offered  an opportunity to participate in the Energizer Holdings,
Inc.,  Deferred Compensation Plan (the "Plan"). I hereby elect to participate in
the  Plan  and irrevocably authorize the Company to deduct from my calendar 2001
Director's  Fees  the  amount  specified  below:

================================================================================
DIRECTOR'S  FEE  DEFERRAL  ELECTION     PLEASE  COMPLETE  THE  DEFERRAL ELECTION
BELOW.  YOU  MUST  DEFER A TOTAL OF AT LEAST $ 1,000 TO PARTICIPATE IN THE PLAN.
================================================================================
    FEES                 I elect to defer _______%, or all up to $____________,
                         or all in excess of $____________, or  _____% in excess
                         of $____________  of my remaining calendar 2001
                         Director's  Fees
================================================================================
    NON-PARTICIPATION    I elect not to defer my remaining  calendar  2001
                         Director's  Fees
================================================================================
DIRECTOR'S FEE INVESTMENT ELECTION (PLEASE SELECT IN WHOLE PERCENTAGE
INCREMENTS;  TOTAL  MUST  EQUAL  100%)
================================================================================
<TABLE>
<CAPTION>

I elect to invest my calendar 2001 Base Salary deferrals in the following Measurement Funds:

<S>                                       <C>                        <C>                    <C>
   Energizer Holdings, Inc. Common Stock  ____%    Vanguard International Growth Fund      ____%
   Prime Rate Fund                        ____%    Vanguard Life Strategy Income Fund      ____%
   Vanguard Wellington Fund               ____%    Vanguard Life Strategy Conservative
   Vanguard 500 Index                     ____%    Growth Fund                             ____%
   Vanguard Windsor II Fund               ____%    Vanguard Life Strategy Moderate Growth  ____%
   Vanguard Small-Cap Index               ____%    Vanguard Life Strategy Growth Fund      ____%
</TABLE>

ACCEPTED  AND  ACKNOWLEDGED:

------------------------------     --------------------------------------------
Signature of Participant  Date     for the Nominating and Executive        Date
                                   Compensation Committee

PLEASE  COMPLETE  AND  RETURN  FORMS  TO:
CLARK/BARDES  CONSULTING  -  COMPENSATION  RESOURCE  GROUP
ATTN:  LAURA  POPE
633  WEST  FIFTH  STREET,  52ND  FLOOR
LOS  ANGELES,  CA  90071-2086
FAX:  (213)  438-6600INDEMNIFICATION AGREEMENT

This  Indemnification  Agreement  dated as of the ___ day of ______, 2000 by and
between  Energizer  Holdings,  Inc.  (the  "Company")  and _____________________
("Executive"),

                                   WITNESSETH:

WHEREAS,  the  Company  and  Executive have entered into a 2000 Restricted Stock
Equivalents  Award  Agreement  dated  as of May 8, 2000 (the "Award Agreement"),
pursuant to which the Company has agreed to award the Executive, up to the limit
set forth in the Award Agreement,  a restricted stock equivalent for every share
of the Company's $.01 par value common stock ("Common Stock") that the Executive
acquires  prior  to  May  8,  2002;  and

WHEREAS,  the  Company  recognizes that the Executive's acquisition of shares of
Common  Stock  may  create  financial  difficulties  for  the Executive and that
Executive  may  be  required to borrow funds necessary to acquire such shares of
Common  Stock;  and

WHEREAS,  the  Company  has  arranged  for  Bank  of  America  to  extend a loan
commitment to Executive in order to enable Executive to acquire shares of Common
Stock, and has agreed to guarantee the total amount of any loan extended by Bank
of  America  to  Executive;

NOW THEREFORE, in consideration of the Company's guarantee of his loan from Bank
of  America, Executive hereby agrees to indemnify and hold harmless the Company,
to  the  full  extent  lawful,  from  and  against  all losses, claims, damages,
liabilities  and expenses incurred by the Company in connection with, or arising
out  of,  its  guarantee  of  said  loan.

Executive  further  agrees  that  he will promptly reimburse the Company for all
expenses (including reasonable fees and disbursements of counsel) as they may be
incurred  by  the  Company  in  connection  with investigating, preparing for or
defending  any  pending  or  threatened  claim  or  action by Bank of America in
respect  of which indemnification may be sought hereunder, and in enforcing this
Indemnification  Agreement.

In  addition,  Executive hereby grants the Company the right, exercisable at its
discretion  and  to  the  extent  permitted by law, to withhold from any and all
amounts  payable  to  Executive  by  the  Company  such  amounts  as the Company
reasonably  deems  necessary  in  full  or  partial  satisfaction of Executive's
obligation  to  the  Company  pursuant  to  this  Indemnification  Agreement.

Executive's  indemnity  and reimbursement obligations under this Indemnification
Agreement  shall be in addition to any liability that he may have, at common law
or  otherwise,  and  shall  be  binding  on  his  successors  and  assigns.

Upon  demand  for  payment by Bank of America under the terms of said guarantee,
the Company agrees to notify Executive in writing of such demand, but failure to
so  notify  Executive  will  not  relieve him of any liability which he may have
hereunder  unless,  and  only  to  the extent that,  such failure results in the
forfeiture  by  Executive of substantial rights and defenses with respect to the
loan  or  the  guarantee.

Solely  for  purposes  of  enforcing  this  Indemnification Agreement, Executive
hereby  consents  to  personal  jurisdiction,  service and venue in any court in
which  any  claim or proceeding which is subject to, or which may give rise to a
claim  for  indemnification  under,  this  Indemnification  Agreement is brought
against  the  Company.

This  Indemnification  Agreement  shall be deemed made in the State of Missouri.
This Indemnification Agreement and all controversies arising from or relating to
performance  under  this  Indemnification  Agreement  shall  be  governed by and
construed  in  accordance with the laws of the State of Missouri, without giving
effect to such states rules concerning conflicts of laws.  ANY RIGHT TO TRIAL BY
JURY  WITH  RESPECT  TO  ANY CLAIM OR ACTION ARISING OUT OF THIS INDEMNIFICATION
AGREEMENT  IS  HEREBY  WAIVED.

If  any  provision  of  this  Indemnification Agreement shall be held invalid or
unenforceable  to any extent, ther remainder thereof and the application of such
provision  to  other  circumstances  shall  not  be  affected  thereby  and such
provision  shall  be enforced to the greatest extent permitted by applicable law
and  such  invalidity  or  unenforceability  shall  not  affect  the validity or
enforceability  of  any  other  provision  hereof.

No  failure or delay in exercising any right hereunder shall operate as a waiver
thereof,  nor shall any single or partial exercise thereof preclude any other or
further  exercise  thereof  or  the  exercise  of  any  other  right.

This Indemnification Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute
a  single  agreement.

No  modifications  of  or  amendments to this Indemnification Agreement shall be
valid  or  binding  unless set forth in writing and duly executed by all parties
hereto.

IN  WITNESS  WHEREOF,  the  parties  hereto  have  executed this Indemnification
Agreement  on  the  day  and  year  first  above  written.

_____________________________               ENERGIZER  HOLDINGS,  INC.
EXECUTIVE

                                            By:  __________________________
                                            Title:  _________________________
Executive  Officers  That  Have  Entered  Into  Indemnification  Agreement
Mr.  Zimmermann
Mr.  Strachan
Mr.  Rose
Mr.  McClanathan
Mr.  Conrad
Mr.  Sanborn

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