Summary of GRAFTECH INTERNATIONAL LTD

Item. 2.04 Triggering Events That Accelerate Or Increase A Direct Financial Obligation Or An Obligation Under An Off-Balance Sheet Arrangement

On August 27, 2009, pursuant to the Indenture dated as of February 15, 2002, as amended (the "Indenture"), by and among us, certain of our subsidiaries and U.S. Bank National Association (as successor in interest to State Street Bank and Trust Company), as trustee (the "Trustee"), we and certain of our subsidiaries (including subsidiaries who are guarantors) requested the Trustee to redeem the remaining balance of approximately $20 million of the outstanding principal amount of the 10 1/4% Senior Notes due 2012 (the "Senior Notes") issued pursuant to the Indenture and held by third parties, at 101.708% of the principal amount, plus accrued interest. As a result of our request and subject to the giving of the redemption notice to the holders of the Senior Notes, we will be required to proceed with the redemption. We are using cash flow from operating and financing activities to fund the redemption, which is expected to occur on or about September 28, 2009. After the redemption, there will be no Senior Notes outstanding.

Reference is made to the note on forward-looking statements contained after the caption "Forward Looking Statements" in Item 1A of Part I of our Annual Report on Form 10-K for the period ended December 31, 2008, and after the caption "Forward Looking Statements and Risks" in the Introduction to Part I, Item 2, and Part II, Item 1 of our Quarterly Report for the period ended June 30, 2009 with respect to risks and uncertainties affecting estimates and predictions contained herein.