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News Release

Carpenter Declares Quarterly Cash Dividend

WYOMISSING, Pa., Aug 19, 2004 (BUSINESS WIRE) -- The Board of Directors of Carpenter Technology Corporation (NYSE:CRS), at its meeting today, declared a quarterly cash dividend of $.0825 per share of common stock, payable September 3, 2004, to shareholders of record on August 31, 2004. The ex-dividend date (the date the common stock trades without the dividend) is August 27, 2004.

SOURCE: Carpenter Technology Corporation

Carpenter Technology Corporation
Jaime Vasquez, 610-208-2165
jvasquez@cartech.com
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