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News Release

Carpenter Technology Raises Prices on Premium-Melted Specialty Alloys and Specialty Wire Products

WYOMISSING, Pa.--(BUSINESS WIRE)--Jan. 14, 2005--The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) has announced that it will increase base prices 7-13 percent on all premium-melted alloys in all product forms, effective immediately on all new orders.

Carpenter said that demand continues to be extremely strong in markets that utilize its premium melted products. Price increases are necessary to recover increased costs associated with raw materials, supplies and energy.

Furthermore, Carpenter Specialty Wire Products (CSWP), a business unit of Carpenter Technology Corporation, announced that it will increase transactional prices by 9 - 12 percent on all products for orders booked on or after January 17, 2005.

CSWP said that the price increases are in response to higher demand for its products, as well as increases in operational costs. Raw material surcharges will remain in effect.

Carpenter Specialty Wire Products, in Orangeburg, SC., is a leading global manufacturer of specialty alloy fine wire and ribbon for use in diverse applications including medical, electronic, chemical and petroleum processing and thermocouple products.

Carpenter Technology, based in Wyomissing, Pa., is leading manufacturer and distributor of specialty alloys and engineered products. More information about Carpenter, CSWP and Specialty Alloys Operations is available at

    CONTACT: Carpenter Technology Corporation
             Lisa MacGregor, 610-208-3479

    SOURCE: Carpenter Technology Corporation

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