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News Release

Carpenter Declares Quarterly Cash Dividend

WYOMISSING, Pa.--(BUSINESS WIRE)--Jan. 20, 2009--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 March 5, 2009, to shareholders of record on February 3, 2009. The ex-dividend date (the date the common stock trades without the dividend) is January 30, 2009.

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

Source: Carpenter Technology Corporation

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