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News Release

Carpenter Declares Quarterly Cash Dividend

WYOMISSING, Pa.--(BUSINESS WIRE)--Aug. 20, 2008--The Board of Directors of Carpenter Technology Corporation (NYSE:CRS), at its meeting yesterday, declared a quarterly cash dividend of $.18 per share of common stock, payable September 5, 2008, to shareholders of record on September 2, 2008. The ex-dividend date (the date the common stock trades without the dividend) is August 28, 2008.

CONTACT: Carpenter Technology Corporation
Investor and Media Inquiries:
David A. Christiansen, 610-208-3065
dchristiansen@cartech.com

SOURCE: Carpenter Technology Corporation


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