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News Release

Carpenter Technology Raises Prices on Stainless and Premium Melted Alloys

WYOMISSING, Pa.--(BUSINESS WIRE)--May 15, 2008--Carpenter Technology Corporation (NYSE:CRS) today announced that it will increase base prices an average of 7 percent on all premium-melted alloys and 3 - 6 percent for specialty stainless steels in all product forms. The increases will be effective for orders placed on or after June 1, 2008 and are due to increased operating costs.

Carpenter Technology, based in Wyomissing, Pa, is a leading manufacturer and distributor of specialty alloys, including stainless steels, titanium alloys, superalloys, and various engineered products. More information about Carpenter Technology is available at www.cartech.com.

CONTACT: Carpenter Technology Corporation
Lisa MacGregor, 610-208-3479
Lmacgregor@cartech.com

SOURCE: Carpenter Technology Corporation


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