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News Release

Carpenter Announces New Vice President and Corporate Controller

WYOMISSING, Pa.--(BUSINESS WIRE)--July 5, 2005--Carpenter Technology Corporation (NYSE:CRS) announced today that effective Monday, July 18, 2005, Richard Simons will join Carpenter Technology Corporation as Vice President and Corporate Controller reporting to Terry Geremski, Senior Vice President - Finance and Chief Financial Officer.

Mr. Simons holds a Bachelor's degree in Accounting, an MBA from Rochester Institute of Technology, and is a CPA. He comes to Carpenter after twenty-two years with Hardinge, Inc. of Elmira, New York. Hardinge is an independent, global, NASDAQ - traded manufacturer of machine tools. For the past eight years Simons has served as Executive Vice President & CFO of Hardinge.

Simons replaces Mr. Rich Chamberlain who is retiring on August 1st after twenty-six years with Carpenter.

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

CONTACT: Carpenter Technology Corporation, Wyomissing
Jaime Vasquez, 610-208-2165

SOURCE: Carpenter Technology Corporation

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