CARPENTER TECHNOLOGY CORP — Director's Dealing 2005

Oct 28, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2005-10-26

Reporting Person: TORCOLINI ROBERT J (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-10-26	Common Stock	M	16000	$16.12	Acquired	118497.7	Direct
2005-10-26	Common Stock	S	6000	$60.94	Disposed	112497.7	Direct
2005-10-26	Common Stock	S	10000	$60.755	Disposed	102497.7	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-10-26	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	2445.4	Indirect

Footnotes

F1: Includes 127.306 shares acquired on 9/2/05 under the Carpenter Technology Corporation Dividend Reinvestment Program at a price of $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.

F3: Includes shares acquired under the Savings Plan of Carpenter Technology Corporation. The share balance under the Savings Plan of Carpenter Technology fluctuates due to rounding differences produced by the Plan's method of estimating shares.