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News Release

Carpenter Technology Raises Prices on Stainless Steel, High Temperature Alloy Bar Products

WYOMISSING, Pa.--(BUSINESS WIRE)--Sept. 20, 2004--The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) announced today that it is increasing prices for all grades of stainless steel and high temperature alloy bar products by approximately 10 percent, effective with new orders and shipments as of October 1st.

Carpenter said that the increases are in response to higher demand for its products, as well as increases in manufacturing, energy and other costs. Additionally, Carpenter said all applicable surcharges would remain in effect.

Carpenter Technology Corporation, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. More information about Carpenter is available at www.cartech.com, with selected products available online at www.carpenterdirect.com.


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

    SOURCE: Carpenter Technology Corporation

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