GRAFTECH INC., A Subsidiary of UCAR International Inc., Announces Filing of Form S-1 for an Initial Public Offering.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--April 18, 2000

GRAFTECH INC., a wholly owned subsidiary of UCAR International Inc. (NYSE:UCR), announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission. GRAFTECH is a newly formed holding company for UCAR Graph-Tech Inc. UCAR Graph-Tech develops and manufactures flexible graphite for gasket and sealing applications, for use in the manufacture of flow field plates for proton exchange membrane fuel cells, and for thermal applications in computer and other electronic devices, fire protection applications, energy management applications in devices such as batteries and supercapacitors, and furnace insulation applications. The registration statement relates to the initial public offering of common stock of GRAFTECH. It is expected that a portion of the common stock to be offered would be sold by GRAFTECH and the balance would be sold by UCAR International. UCAR International would continue to own at least 80% of the outstanding common stock of GRAFTECH after the offering.

Credit Suisse First Boston will act as lead manager for the offering. Bear, Stearns & Co. Inc., J.P. Morgan & Co. and Merrill Lynch & Co. will act as co-managers.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

When available, a copy of the preliminary prospectus relating to the offering may be obtained from the offices of Credit Suisse First Boston Corporation, Eleven Madison Avenue, Attn: Prospectus Department, New York, NY, 10010-3629 (Telephone: [phone]).

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 a proposed initial public offering and the expected terms and use of proceeds thereof. We have no duty to update such statements. Actual future events and circumstances (including future results) could differ materially from those set forth in these statements due to various factors. These factors include possible changes in capital market conditions or in the business, prospects, results of operation or financial condition of GRAFTECH that result in delays in or abandonment of the proposed offering or changes in the terms thereof, changes in UCAR International's plans or needs, and other risks and uncertainties, including those detailed in filings by GRAFTECH and UCAR International with the SEC.