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News Release

Talley Metals Adds Copper to Surcharge

WYOMISSING, Pa.--(BUSINESS WIRE)--June 8, 2006--Talley Metals, a subsidiary of Carpenter Technology Corporation (NYSE:CRS) has announced that it will begin to include copper in its raw material surcharge formula for certain copper bearing grades. The change in the surcharge will go into effect with shipments beginning July 1, 2006.

The copper element of the surcharge will be based on the monthly average Comex price, using a base price of $1.00 per pound. The company said that the surcharge is necessary to offset the increase in copper prices, which is used in the manufacture of some of its specialty alloy products.

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., produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. Information about Carpenter Technology and Talley can be found on the Internet at www.cartech.com.

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

SOURCE: Talley Metals


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