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Carpenter

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Carpenter Technology's Dynamet Subsidiary Names New President

WYOMISSING, Pa.--(BUSINESS WIRE)--Sept. 28, 2007--Dynamet Incorporated, a Pittsburgh area based subsidiary of Carpenter Technology Corporation (NYSE:CRS), announced today that Andrew McElwee has been named President, effective September 10, 2007.

McElwee replaces Mark S. Kamon who was appointed Senior Vice President - Advanced Metals Operations of Carpenter Technology.

McElwee will be responsible for overall leadership of Dynamet and for growth in the aerospace and medical markets. He will report to Mark Kamon.

McElwee, a 19-year veteran of Carpenter Technology, has worked in a number of senior management positions, most recently as Vice President - Bar Business Group.

McElwee holds a bachelor's degree in Business Administration from West Chester University.

Dynamet manufactures titanium bar, wire, fine wire and shaped products. Carpenter Technology, a leading manufacturer and distributor of specialty alloys and various engineered products, acquired Dynamet in 1997. More information about Carpenter Technology and Dynamet is available at www.cartech.com

CONTACT: Carpenter Technology Corporation
Investor and Media Inquiries:
Jaime Vasquez, 610-208-2165
jvasquez@cartech.com

SOURCE: Carpenter Technology Corporation

Carpenter Technology CorporationCarpenter Technology Corporation

Carpenter Technology Corporation is a leading producer and distributor of premium specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels.

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