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News Release

Carpenter Technology Raises Prices on Stainless and Premium Melted Alloys

WYOMISSING, Pa.--(BUSINESS WIRE)--Sept. 1, 2006--The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) announced that it is increasing base prices 3 percent on all air melted stainless products and 3-5 percent on all premium melted products. The increase is effective September 5, 2006 on all new orders and shipments. Raw material and energy surcharges will remain in effect.

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

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

SOURCE: Carpenter Technology Corporation


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