CARPENTER TECHNOLOGY CORP — Director's Dealing 2003

Oct 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2003-10-27

Reporting Person: TURNER KATHRYN C (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-27	Stock Option (Right to Buy)	$25.59	A	4000	Acquired	2013-10-27	Common Stock (4000)	Direct
2003-10-27	Stock Units	$	A	781.56	Acquired		Common Stock (781.56)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1458	Direct

Footnotes

F1: Includes approximately 5 shares acquired under the Carpenter Technology Corporation Dividend Reinvestment Program at $21.91 per share

F2: The reporting person was granted an option to buy shares of common stock under the Carpenter Technology Corporation Stock-Based Compensation Plan for Non-Employee Directors

F3: Converts to common stock on a 1-for-1 basis

F4: Payable upon retirement

F5: Includes dividend equivalents