KEMET Announces Extension of Expiration Date for Its Tender Offer

June 5, 2009

GREENVILLE, SC – June 3, 2009 – KEMET Corporation (OTC Bulletin Board: KEME.OB), a leading manufacturer of the majority of capacitor types, including tantalum, multilayer ceramic, solid aluminum, plastic film, paper and electrolytic capacitors, today announced, in connection with its previously announced tender offer for its 2.25% Convertible Senior Notes due 2026 (CUSIP Nos. 488360 AA6 and 488360 AB4) (the Notes), that it is extending the expiration date of the tender offer from 11:59 p.m., New York City time, on June 2, 2009 to 11:59 p.m., New York City time, on June 12, 2009. Holders who have validly tendered and not validly withdrawn their Notes prior to the new expiration date of 11:59 p.m., New York City time, on June 12, 2009 (as such date and time may be further extended), including holders who tendered their Notes prior to today’s announcement, may withdraw tendered Notes at any time on or before the new expiration date.

In connection with the commencement of the tender offer, KEMET entered into certain amendments to its euro 60 million credit facility and euro 35 million credit line (collectively, the UniCredit Amendments), each with UniCredit Corporate Banking S.p.A. (UniCredit). The UniCredit Amendments were to become effective only upon consummation of the tender offer on or before June 10, 2009. On June 1, 2009, UniCredit agreed to extend the June 10, 2009 deadline to July 20, 2009.

Except for the new terms announced today, all terms and conditions of the tender offer remain unchanged. The complete terms and conditions of the tender offer are set forth in KEMET’s Offer to Purchase, dated May 5, 2009, and the related Letter of Transmittal, each as amended and supplemented from time to time.

As of June 2, 2009 at 5:00 p.m., New York City time, approximately $2,712,000 in aggregate principal amount of Notes have been validly tendered and not validly withdrawn pursuant to the tender offer.

KEMET has retained Deutsche Bank Securities Inc. to act as the dealer manager for the tender offer. D.F. King & Co. is the information agent and depositary for the tender offer. Questions regarding the tender offer should be directed to Deutsche Bank Securities Inc. at 1-800-503-4611 (U.S. toll-free). Requests for the Offer to Purchase and other documents relating to the tender offer may be directed to D.F. King & Co. at (212) 269-5550 (for banks and brokers only) or 1-800-431-9643 (U.S. toll-free).

Neither KEMET, any member of its board of directors, the dealer manager nor the information agent is making any recommendation to holders of Notes as to whether to tender or refrain from tendering their

Notes pursuant to the tender offer. Holders of Notes must decide whether they will tender pursuant to the tender offer and, if so, how many Notes they will tender.

This release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities. The tender offer is only being made pursuant to the tender offer documents, including the Offer to Purchase and the related Letter of Transmittal, each as amended and supplemented from time to time. The tender offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

KEMET Corporation (KEME.OB) applies world-class service and quality to deliver industry-leading, high-performance capacitance solutions to its customers around the world. KEMET offers the world’s most complete line of surface-mount and through-hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics. Additional information about KEMET can be found at http://www.kemet.com/ .