Intercalating H2SO4' IEG compd. prepd. by anodic oxidn. of natural graphite in 18 M H2SO4 was exfoliated 5 min at 800 degrees C in air. The EG electrode was oxidized 1.5 hr. in 0.5 KOH at 1.2 V PhOH, 0.1 M in 0.5 M KOH, was oxidized at this electrode by cyclic voltammetry at potentials up to 0.8 V, scan rate 0.1 mV/s. The EG electrode was examd. in 0.5 M KOH at 0.8 to -0.95 V in a three-electrode system. The preoxidized EG was electrochem. more active than the original EG. In the 1st and in successive PhOH oxidn. cycles, current charges were larger. The activity drop occurring with original EG after the 1st cycle was inhibited, it appeared after the 2nd cycle but to a lesser deg. FTIR spectra showed topochem. changes in the activated EG.