GrafTech's decision to repurchase its shares is consistent with management's stated intent regarding potential uses of cash flow. David Rintoul, GrafTech's Chief Executive Officer, stated, "GrafTech is pleased to announce the repurchase of a meaningful amount of its shares in-line with GrafTech's capital allocation strategy. As we've previously indicated, we view share repurchases as a tax-efficient and accretive use of cash."

GrafTech International Ltd. is a leading manufacturer of high quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The company has a competitive portfolio of low-cost graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. GrafTech is also the only large scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, the primary raw material for graphite electrode manufacturing, which is currently in limited supply. This unique position provides competitive advantages in product quality and cost.

Statements in this press release regarding the Company that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Certain of the risks and uncertainties to which the Company is subject are described in the "Risk factors" and "Special note regarding forward looking statements" sections of the Company's registration statement on Form S-3, the "Risk Factors" and "Forward Looking Statements" sections of its annual report on Form 10-K and the Company's other applicable filings with the Securities and Exchange Commission. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.