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News Release

Carpenter Technology Raises Prices on Stainless Steel Strip Products

WYOMISSING, Pa.--(BUSINESS WIRE)--Aug. 22, 2005--The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) has announced that it will increase base prices 10 percent on all precipitation hardening stainless steels in strip form, effective September 1st for all new orders. Raw material surcharges will remain in effect.

Carpenter said that the price increases are necessary to recover increased costs associated with materials, freight, supplies and energy.

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

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

SOURCE: Carpenter Technology Corporation


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