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News Release

Talley Metals Raises Prices on Premium-Melted Specialty Alloys and Stainless Bar Products

HARTSVILLE, S.C.--(BUSINESS WIRE)--May 31, 2006--Talley Metals, a subsidiary of Carpenter Technology Corporation (NYSE: CRS) has announced that it will increase base prices approximately 5 percent on all premium-melted alloys in bar form effective June 5, 2006.

Additionally, Talley will increase base prices $.05 cents per pound on all air-melted stainless bar products effective July 1, 2006. Both increases are on all new orders and shipments; raw material and energy surcharges will remain in effect.

Talley Metals sells stainless steel long products, 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 Technology and Talley is available at www.cartech.com.

CONTACT: Talley Metals
Lisa MacGregor, 610-208-3479
Lmacgregor@cartech.com
SOURCE: Talley Metals


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