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Carpenter

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Carpenter Technology Corporation Announces New Vice President & Chief Marketing Officer

WYOMISSING, Pa.--(BUSINESS WIRE)--Oct. 16, 2007--Carpenter Technology Corporation (NYSE:CRS) announces that Sanjay Guglani has joined Carpenter as Vice President and Chief Marketing Officer, effective October 22, 2007. This newly created position demonstrates Carpenter's focus on expanding its overall sales and business operations. He will report to Anne Stevens, Chairman, President and Chief Executive Officer.

Guglani most recently served as Vice President of Marketing, Business Development, and Strategy at Textron Fluid & Power, a subsidiary of Textron, Inc. He was responsible for delivering growth and accelerating innovation in a complex business with substantial global operations. He has also held strategy and marketing roles in Textron, Inc. Prior to joining Textron, Inc., Guglani was a management consultant for Bain & Company. He started his career with Schlumberger, leading operations in various countries in South East Asia and the Middle East.

Guglani holds a bachelor's degree in Mechanical Engineering from the Indian Institute of Technology, New Delhi, and an MBA from the Amos Tuck School at Dartmouth, New Hampshire.

Carpenter Technology, based in Wyomissing, Pa, produces and distributes specialty alloys, including stainless steels, titanium alloys, superalloys, and various engineered products. Information about Carpenter Technology can be found on the Internet at www.cartech.com.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated or implied. The forward-looking statements in this document are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Carpenter undertakes no obligation to update or revise any forward-looking statements.

CONTACT: Investor and Media Inquiries:
Carpenter Technology Corporation
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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