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Carpenter Announces New Human Resources Officer    WYOMISSING, Pa.--(BUSINESS WIRE)--May 24, 2004--Carpenter Technology Corp. (NYSE:CRS) announced today that John E. Thames, formerly vice president, Human Resources & Communications at the Donaldson Company, Inc. (NYSE:DCI), will become vice president, Human Resources at Carpenter, effective May 24.
    Thames, 54, served as vice president, Human Resources for 15 years at the Bloomington, Minn., filtration products manufacturer. He previously served as vice president, Human Resources of the G. Heilman Brewing Company; and vice president, Human Resources of Harvest States Cooperatives, a grain and food processing company.
    Thames holds a JD degree from William and Mitchell College of Law and bachelor's and master's degrees from the University of Minnesota.
    Carpenter said that Robert W. Lodge, currently vice president, Human Resources at the company, would retire in August.

    Carpenter, based in Wyomissing, Pa., is a leading manufacturer and distributor of stainless steel, specialty alloys including titanium alloys, and various engineered products. Carpenter had sales of $871 million in fiscal 2003 (ended June 30, 2003). More information about Carpenter is available at


    CONTACT: Carpenter Technology Corp.
             Katharine Marshall, 610-208-3034 

    SOURCE: Carpenter Technology Corp.

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