CARPENTER TECHNOLOGY CORP — Director's Dealing 2005

Nov 2, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2005-11-01

Reporting Person: OATES DENNIS M (Sr. VP-Specialty Alloys Oper.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-11-01	Common Stock	M	10000	$21.44	Acquired	50521	Direct
2005-11-01	Common Stock	S	10000	$60.016	Disposed	40521	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-11-01	Employee Stock Option (Right to Buy)	$21.44	M	10000	Disposed	2013-09-30	Common Stock (10000)	Direct

Footnotes

F1: Includes 23.51 shares acquired under the Carpenter Technology Corporation Dividend Reinvestment Program at 57.54 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 Officers and Key Employees.