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Carpenter Technology Announces Change to Surcharge Mechanism

WYOMISSING, Pa.--(BUSINESS WIRE)--Sept. 15, 2006--The Specialty Alloys Operations unit of Carpenter Technology Corporation (NYSE:CRS) announced that it is changing its surcharge mechanism to increase the nickel premium component from $.30/lb. to $.38/lb.

The company said that strong market demand for nickel based superalloys and stainless products have contributed to nickel premiums rising to exceptional levels. The change in the surcharge will go into effect with shipments beginning October 1, 2006.

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

    CONTACT: Carpenter Technology Corporation
             Lisa MacGregor, 610-208-3479

    SOURCE: Carpenter Technology Corporation

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