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News Release

Carpenter Technology Announces Price Increase on Premium Melted Alloys and Change to Surcharge Mechansim

WYOMISSING, Pa.--(BUSINESS WIRE)--June 2, 2005--The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) announced that effective immediately it is increasing prices 5-10% on all premium melted alloys used in markets including aerospace, automotive, electronics, medical, power generation and oil and gas.

Additionally, due to the unprecedented rise in nickel premiums, it will change its surcharge mechanism to increase the nickel premium component from $.23/lb. to $.30/lb. The change is effective immediately.

Carpenter Technology, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. More information about Carpenter Technology is available at www.cartech.com.

CONTACT: Carpenter Technology, Wyomissing
Lisa MacGregor, 610-208-3479
Lmacgregor@cartech.com

SOURCE: Carpenter Technology


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