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Carpenter Technology Announces Conference Call and Webcast

Carpenter Technology Corporation (NYSE:CRS) plans to host a conference call and webcast on Wednesday, October 31, at 10:00 a.m., Eastern time, to discuss the results of operations for the quarter ended September 30, 2007.

Please call 610-208-2800 for the conference call telephone number and passcode. The webcast will be hosted by Thomson/CCBN and can be accessed at Carpenter Technologys web site at www.cartech.com.

Carpenters fiscal 2008 first quarter earnings release will reflect the Companys previously announced realignment of its business segments. In order to provide comparative quarterly information, Carpenter filed a form 8-K with the Securities and Exchange Commission, on October 11, 2007. The filing details fiscal 2006 and 2007 quarterly sales and operating income for the Companys realigned business segments.

The webcast is also being distributed through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at www.fulldisclosure.com, Thomson/CCBNs individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomsons password-protected event management site, StreetEvents (www.streetevents.com).

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 can be found on the Internet at www.cartech.com.

Contacts:

Carpenter Technology Corporation
Investor and Media Inquiries:
Jaime Vasquez, 610-208-2165
jvasquez@cartech.com

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