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News Release

Carpenter Technology Announces Third Quarter Conference Call and Webcast    WYOMISSING, Pa.--(BUSINESS WIRE)--April 12, 2004--Carpenter Technology Corp. (NYSE:CRS) plans to host a conference call and webcast on Friday, April 23, at 10:00 a.m., Eastern time, to discuss the results of operations for the quarter ended March 31, 2004.
    Please call 610-208-2800 for the conference call telephone number and passcode. The webcast will also be available at www.vcall.com.
    A replay of the conference call will be available at www.vcall.com or by calling 888-266-2081 (international call 703-925-2533). The passcode for the replay is 437683.

    Carpenter Technology is a leading producer and distributor of specialty alloys and various engineered products. Information about Carpenter can be found on the Internet at www.cartech.com, with selected products sold online at www.carpenterdirect.com.

    --30--CRB/ph*

    CONTACT: Carpenter Technology Corp.
             Investor:
             Jaime Vasquez, 610-208-2165
             jvasquez@cartech.com
             or
             Media:
             Katharine Marshall, 610-208-3034
             kmarshall@cartech.com

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


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