Sec Form 4 Filing - Freitas Luiz Augusto Barros De @ GRAFTECH INTERNATIONAL LTD - 2006-12-29

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Freitas Luiz Augusto Barros De 2. Issuer Name and Ticker or Trading Symbol GRAFTECH INTERNATIONAL LTD [ GTI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) Advanced Graphite Materials (Last) (First) (Middle) C/O GRAFTECH INTERNATIONAL LTD., 12900 SNOW ROAD 3. Date of Earliest Transaction (MM/DD/YY) 12/29/2006 (Street) PARMA, OH44130 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 22,771 D ( 1 ) Common Stock 9,000 D ( 2 ) Common Stock 10,000 D ( 3 ) Common Stock 12/29/2006 J V 1 A $ 6.6 1,397 I By Savings Plan ( 4 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Time options (right to buy) $ 17.06 ( 5 ) 09/29/2008 Common Stock 6,000 6,000 D Time options (right to buy) $ 6.56 ( 6 ) 12/31/2008 Common Stock 35,000 35,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Freitas Luiz Augusto Barros De C/O GRAFTECH INTERNATIONAL LTD. 12900 SNOW ROAD PARMA, OH44130 Advanced Graphite Materials Signatures /s/Gary R. Whitaker, Attorney-in-fact for Luiz A. Freitas 01/04/2007 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On May 25, 2005, the Company granted 22,771 restricted shares, valued at the then current market price of $3.80 per share, subject to a two-year cliff vesting period. ( 2 )On October 23, 2006, the Company granted 9,000 restricted shares under the Company's Management Long Term Incentive Program, all of which will cliff vest in February 2010, subject to accelerated vesting in equal thirds in February of each of 2008, 2009 and 2010, if certain performance targets are met. ( 3 )On August 31, 2005, the Company granted 15,000 restricted shares, valued at the then current market price of $5.94 per share, under the Company's Long Term Incentive Plan, of which one-third vested on August 31, 2006. The remaining two-thirds will vest on each of August 31, 2007 and 2008. The shares were reported as acquired on the grant date. The reporting person sold 3,352 of these shares on December 4, 2006. ( 4 )Represents the number of units attributable to the reporting person's participation through Company matching contributions in the Company Stock Fund option of the UCAR Carbon Savings Plan. The 1 unit reported in this transaction corresponds to 1 share of common stock at a price of $6.92 per share. ( 5 )Of such options, 2,000 vested on each of May 21, 1999, July 14, 1999, and September 29, 1999. ( 6 )On November 30, 2005, the Company approved, under the terms of the Company's Long Term Incentive Plan, an accelerated vesting date for such options of November 30, 2005.

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