News Release

WYOMISSING, Pa.--(BUSINESS WIRE)--

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 December 4, 2008, to shareholders of record on October 28, 2008. The ex-dividend date (the date the common stock trades without the dividend) is October 24, 2008.

Source: Carpenter Technology Corporation