GrafTech's GRAFCELL in Honda's FCX Fuel Cell Vehicle

    WILMINGTON, Del.--Nov. 25, 2002--GrafTech International Ltd. (GTI), a leader in graphite and carbon science for over 100 years, today announced that GRAFCELL(TM) advanced flexible graphite will be included in the Ballard Power Systems Inc.'s fuel cell engines used to power Honda's new FCX fuel cell vehicle planned for commercial release by the end of this year.
    Honda announced that the City of Los Angeles is its first U.S. retail customer for its fuel cell vehicle, agreeing to lease five Honda fuel cell vehicles beginning in late 2002. Honda will also market these vehicles in Japan within the next year. These vehicles will be powered by Ballard(R) fuel cells and have been certified as zero emissions vehicles by the California Air Resources Board and the U.S. Environmental Protection Agency.
    As previously announced, GTI's GRAFCELL will be included in the first two announced commercialized vehicles, DaimlerChrysler's 60 Mercedes Benz A-Class fuel cell vehicles and DaimlerChrysler's 30 Citaro buses expected to operate in 10 European cities, both planned for release in 2003.
    "These announcements confirm that fuel cell technology has started the transition from technical development to commercialization. Fuel cell system products offer an exciting and significant growth opportunity for GTI in the future," stated Scott Mason, President of the Advanced Energy Technology Division. He continued, "We continue to pioneer cost effective solutions with our strategic partner, Ballard Power Systems."

    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. In addition, we develop and manufacture natural graphite for use in materials and components for proton exchange membrane fuel cells and fuel cell systems, thermal interface products for computer, communications and other applications, fire retardant products for transportation applications and building and construction materials applications, industrial thermal management products for high temperature process applications, and conductive products for batteries and supercapacitor power storage applications. GRAFCELL(TM), GRAFGuard(TM), GRAFOIL(R), GRAFSHIELD(TM) and eGraf(TM) are trademarks of our subsidiary. 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 growth opportunities, product sales, commercial solutions, and product and technology development, performance, advantages, approvals, sales, commercial acceptance and commercialization. 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 risks generally encountered with commercial launch and acceptance of new products, changes in governmental policies and decisions, the occurrence of unanticipated events or circumstances relating to research, development and collaboration activities, changes in 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 Securities and Exchange Commission.