Tokai Carbon Co., Ltd. announced that its Board of Directors today resolved to repurchase its own shares, pursuant to Article 211-3, Paragraph 1, Item 2 of the Commercial Code of Japan.

1. Reason for repurchase In order to implement flexible capital strategies in accordance with financial and business environments. 2. Details of repurchase (1) Type of shares Common stock (2) Aggregate number of repurchaseable shares Up to 2.5 million shares (1.22% of total number of shares issued) (3) Aggregate repurchase amount Up to 1 billion yen (4) Schedule to repurchase From November 8 to December 17, 2004     (Reference) Total number of shares issued and treasury stock as of September 30, 2004 Total number of shares issued (excluding treasury stock) 203,566,947 shares Treasury stock 522,444 shares