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GrafTech Announces Appointment of Shular as CEO, Director Playford to Continue as Chairman

    WILMINGTON, Del.--Nov. 13, 2002--GrafTech International Ltd. today announced that Craig S. Shular, the President and Chief Operating Officer, has been appointed President and Chief Executive Officer, effective January 1, 2003. Mr. Shular will also be appointed a director of the Company effective January 1, 2003. Gilbert E. Playford, the Chairman of the Board and current Chief Executive Officer, has announced his retirement as Chief Executive Officer effective January 1, 2003, and will continue as the Chairman of the Board. Mr. Shular will continue as President of the Graphite Power Systems Division. Scott C. Mason will continue as President of the Advanced Energy Technology Division. Mr. Shular will relocate to the Company's headquarters in Delaware immediately.
    Mr. Shular and the Board of Directors stated, "Mr. Playford has done an exemplary job of leading the Company through some very difficult times. We are all grateful for his leadership, guidance and friendship, and we are pleased to have his continued leadership at the Board level."
    Mr. Playford commented, "Craig has developed an outstanding record with the Company, as we have maneuvered through extremely challenging business conditions. Craig has the leadership, management depth and expertise to guide our Company forward."
    Mr. Shular has held a number of leadership positions during his more than 25-year career. Mr. Shular joined the Company in January 1999 as Chief Financial Officer. He assumed the additional duties of Executive Vice President, Electrode Sales and Marketing, in January 2000. In August 2001, he transferred all of his efforts to the Company's core electrode and cathode businesses, becoming President of the Graphite Power Systems Division. He took on the additional duties of President and Chief Operating Officer in May 2002. Mr. Shular began his career in 1976 in the Carbon Products Division of Union Carbide Corporation. From 1976 through 1998, he held various finance, production and management positions in Union Carbide at locations in the U.S., Europe and Asia.
    Mr. Shular stated, "We will continue to aggressively build upon our competitively advantaged production platform, unique graphite technologies and the strength and depth of our team. Attention to our customers' needs will be second to none in the industry. Strong cash flow and debt reduction will be the outcome of these strategies."
    GrafTech International Ltd. is one of the world's largest manufacturers and providers of high quality natural and synthetic graphite and carbon based products and services, offering energy solutions to industry-leading customers worldwide engaged in the manufacture of steel, aluminum, silicon metal, automotive products and electronics. We have 13 manufacturing facilities in 7 countries and are the leading manufacturer in all of our major product lines. We produce graphite electrodes that are consumed primarily in the production of steel in electric arc furnaces, the steel making technology used by all "mini-mills," and for refining steel in ladle furnaces. We also produce carbon electrodes that are consumed in the manufacture of silicon metal and cathodes that are used in the production of aluminum. Our subsidiary, Graftech Inc., produces flexible graphite that is used in high temperature fluid sealing and gasket applications and is the basis for highly engineered products and solutions in fuel cell, electronics and thermal management applications. For additional information on GrafTech International, call 302-778-8227 or visit our website at www.graftechinternational.com. For additional information on Graftech Inc., call 216-529-3777 or visit its website at www.graftech.com. For additional information on our High Tech High Temp business unit, call 216-676-2100 or visit its website at www.HT2.com.

    NOTE: This news release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about such matters as future benefits of organizational and business strengths, plans and strategies and the results thereof. We have no duty to update such statements. Actual future events and circumstances (including future performance, results and trends) could differ materially from those set forth in these statements due to various factors. These factors include changes in organizational, business and strategic plans or programs, changes in global or regional economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in our filings with the SEC.