CARPENTER TECHNOLOGY CORP — Director's Dealing 2004

Feb 19, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2004-02-17

Reporting Person: VASQUEZ JAIME (VP and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-17	Common Stock	M	10000	$30.25	Acquired	10000	Direct
2004-02-17	Common Stock	F	7351	$34.55	Disposed	2649	Direct
2004-02-17	Common Stock	S	2000	$34.62	Disposed	649	Direct
2004-02-17	Common Stock	M	7000	$30.05	Acquired	7649	Direct
2004-02-17	Common Stock	F	4853	$34.55	Disposed	2796	Direct
2004-02-17	Common Stock	S	1750	$34.62	Disposed	1046	Direct
2004-02-17	Common Stock	M	11000	$23.21	Acquired	12046	Direct
2004-02-17	Common Stock	F	6536	$34.55	Disposed	5510	Direct
2004-02-17	Common Stock	S	2750	$34.62	Disposed	2760	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-17	Employee Stock Option (Right to Buy)	$30.25	M	10000	Disposed	2011-03-12	Common Stock (10000)	Direct
2004-02-17	Employee Stock Option (Right to Buy)	$30.05	M	7000	Disposed	2011-06-21	Common Stock (7000)	Direct
2004-02-17	Employee Stock Option (Right to Buy)	$23.21	M	11000	Disposed	2012-01-28	Common Stock (11000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	16	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