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Talley Metals Increases Stainless Prices    HARTSVILLE, S.C.--(BUSINESS WIRE)--March 1, 2004--Talley Metals, a subsidiary of Carpenter Technology Corporation (NYSE:CRS), announced today that it is increasing the price for stainless steel round bar, hexagons, and squares approximately 3 percent, effective with new orders placed March 2 and shipments March 15.
    Talley Metals said the increase reflected the deterioration of prices that occurred during the past few years and the need to achieve more acceptable levels of profitability for these products.

    Talley Metals sells 300- and 400-series stainless steels, as well as standard precipitation-hardening grades, to U.S. metals distributors. Carpenter Technology, 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 for sale at www.carpenterdirect.com.

    --30--CRB/ph*

    CONTACT: Talley Metals
             Katharine Marshall, 610-208-3034
             kmarshall@cartech.com

    KEYWORD: SOUTH CAROLINA PENNSYLVANIA
    INDUSTRY KEYWORD: MINING/METALS MANUFACTURING
    SOURCE: Talley Metals


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