Ferro Corporation Announces Exercise of Over-Allotment Option

CLEVELAND--(Business Wire)--
Ferro Corporation (NYSE: FOE) (the "Company"), announced today
that, in connection with its offering of $150 million aggregate
principal amount of 6.50% Convertible Senior Notes due 2013 (the
"Convertible Notes"), the underwriters have fully exercised the
over-allotment option and have purchased an additional $22.5 million
aggregate principal amount of Convertible Notes. The total aggregate
principal amount of the Convertible Notes is therefore $172.5 million.
The Company received all the proceeds from the sale of the additional
Convertible Notes, which will be used to repay a portion of the amount
borrowed under the Company's revolving credit facility used to finance
the closing of the tender offer for its 9 1/8% Senior Notes due 2009
on August 19, 2008.

About Ferro Corporation

Ferro Corporation (http://www.ferro.com) is a leading global
supplier of technology-based performance materials for manufacturers.
Ferro materials enhance the performance of products in a variety of
end markets, including electronics, solar energy, telecommunications,
pharmaceuticals, building and renovation, appliances, automotive,
household furnishings, and industrial products.

Headquartered in Cleveland, Ohio, the Company has approximately
6,300 employees globally and reported 2007 sales of $2.2 billion.

Cautionary Note on Forward-Looking Statements

Certain statements in this Ferro press release may constitute
"forward-looking statements" within the meaning of Federal securities
laws. These statements are subject to a variety of uncertainties,
unknown risks and other factors concerning the Company's operations
and business environment, which are difficult to predict and often
beyond the control of the Company. Important factors that could cause
actual results to differ materially from those suggested by these
forward-looking statements, and that could adversely affect the
Company's future financial performance, include the following:

-- We depend on reliable sources of energy and raw materials,
including petroleum-based materials and other supplies, at a
reasonable cost, but availability of such materials and
supplies could be interrupted and/or the prices charged for
them could escalate.

-- The markets in which we participate are highly competitive and
subject to intense price competition.

-- We are striving to improve operating margins through sales
growth, price increases, productivity gains, improved
purchasing techniques and restructuring activities, but we may
not be successful in achieving the desired improvements.

-- Our products are sold into industries where demand is
unpredictable, cyclical or heavily influenced by consumer
spending.

-- The global scope of our operations exposes us to risks related
to currency conversion rates and changing economic, social and
political conditions around the world.

-- We have a growing presence in the Asia-Pacific region where it
can be difficult for a U.S.-based company to compete lawfully
with local competitors.

-- Regulatory authorities in the U.S., European Union and
elsewhere are taking a much more aggressive approach to
regulating hazardous materials and those regulations could
affect our sales and operating profits.

-- Our operations are subject to operating hazards and, as a
result, to stringent environmental, health and safety
regulations and compliance with those regulations could
require us to make significant investments.

-- We depend on external financial resources and any interruption
in access to capital markets or borrowings could adversely
affect our financial condition.

-- Interest rates on some of our external borrowings are
variable, and our borrowing costs could be affected adversely
by interest rate increases.

-- Many of our assets are encumbered by liens that have been
granted to lenders, and those liens affect our flexibility in
making timely dispositions of property and businesses.

-- We are subject to a number of restrictive covenants in our
credit facilities, and those covenants could affect our
flexibility in funding strategic initiatives.

-- We have significant deferred tax assets, and our ability to
utilize these assets will depend on our future performance.

-- We are a defendant in several lawsuits that could have an
adverse effect on our financial condition and/or financial
performance, unless they are successfully resolved.

-- Our businesses depend on a continuous stream of new products,
and failure to introduce new products could affect our sales
and profitability.

-- We are subject to stringent labor and employment laws in
certain jurisdictions in which we operate and party to various
collective bargaining arrangements, and our relationship with
our employees could deteriorate, which could adversely impact
our operations.

-- Employee benefit costs, especially post-retirement costs,
constitute a significant element of our annual expenses, and
funding these costs could adversely affect our financial
condition.

-- Our restructuring initiatives may not provide sufficient cost
savings to justify their expense.

-- We are exposed to intangible asset risk.

-- We have in the past identified material weaknesses in our
internal controls, and the identification of any material
weaknesses in the future could affect our ability to ensure
timely and reliable financial reports.

-- We are exposed to risks associated with acts of God,
terrorists and others, as well as fires, explosions, wars,
riots, accidents, embargoes, natural disasters, strikes and
other work stoppages, quarantines and other governmental
actions, and other events or circumstances that are beyond our
control.

Additional information regarding these risk factors can be found
in the Company's Quarterly Report on Form 10-Q for the period ended
June 30, 2008 and other filings with the SEC.

The risks and uncertainties identified above are not the only
risks the Company faces. Additional risks and uncertainties not
presently known to the Company or that it currently believes to be
immaterial also may adversely affect the Company. Should any known or
unknown risks and uncertainties develop into actual events, these
developments could have material adverse effects on the Company's
business, financial condition and results of operations.

This release contains time-sensitive information that reflects
management's best analysis only as of the date of this release. The
Company does not undertake any obligation to publicly update or revise
any forward-looking statements to reflect future events, information
or circumstances that arise after the date of this release.

Ferro Corporation
Investor Contact:
David Longfellow, 216-875-7155
Director, Investor Relations
E-mail: longfellowd@ferro.com
or
Media Contact:
Mary Abood, 216-875-6202
Director, Corporate Communications
E-mail: aboodm@ferro.com

Copyright Business Wire 2008