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Carpenter Technology Raises Prices on Stainless Steels, Premium-Melted Specialty Alloys    WYOMISSING, Pa.--(BUSINESS WIRE)--May 27, 2004--The Specialty Alloys Operations unit of Carpenter Technology Corp. (NYSE:CRS) has announced that it will increase base prices 3-10 percent on stainless steel bar, rod and wire products, effective with June 1 shipments. Carpenter also will increase base prices 5-10 percent on its premium-melted alloys.
    Carpenter also said that it has begun including manganese in its raw material surcharge mechanism for specialty alloy products.
    Carpenter said that the price increases are intended to partially offset the price erosion that has occurred over the last few years and to offset higher energy, supply and freight costs.
    Carpenter, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. Carpenter had sales of $871.1 million in fiscal 2003 (ended June 30, 2003). More information about Carpenter is available at www.cartech.com, with selected products available online at www.carpenterdirect.com.

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    CONTACT: Carpenter Technology Corp., Wyomissing
             Katharine Marshall, 610-208-3034
             kmarshall@cartech.com

    KEYWORD: PENNSYLVANIA
    INDUSTRY KEYWORD: MINING/METALS MANUFACTURING
    SOURCE: Carpenter Technology Corp.


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