CARPENTER TECHNOLOGY CORP — Director's Dealing 2004

Jul 29, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2004-07-27

Reporting Person: GEREMSKI TERRENCE E (Sr. VP-Finance and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-07-27	Common Stock	M	16000	$16.12	Acquired	54326.36	Direct
2004-07-27	Common Stock	S	3600	$37.00	Disposed	50726.36	Direct
2004-07-27	Common Stock	S	300	$36.96	Disposed	50426.36	Direct
2004-07-27	Common Stock	S	500	$36.91	Disposed	49926.36	Direct
2004-07-27	Common Stock	S	100	$36.89	Disposed	49826.36	Direct
2004-07-27	Common Stock	S	500	$36.86	Disposed	49326.36	Direct
2004-07-27	Common Stock	S	9100	$36.80	Disposed	40226.36	Direct
2004-07-27	Common Stock	S	1700	$36.77	Disposed	38526.36	Direct
2004-07-27	Common Stock	S	200	$36.75	Disposed	38326.36	Direct
2004-07-27	Common Stock	S	550	$37.06	Disposed	37776.36	Direct
2004-07-27	Common Stock	S	1000	$37.10	Disposed	36776.36	Direct
2004-07-27	Common Stock	S	400	$37.08	Disposed	36376.36	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-07-27	Employee Stock Option (Right to Buy)	$16.12	M	16000	Disposed	2013-06-26	Common Stock (16000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	23.62	Indirect

Footnotes

F1: The reporting person was granted an option to buy shares of common stock under the Carpenter Technology Corporation Stock-Based Compensation Plan for Officers and Key Employees.