CARPENTER TECHNOLOGY CORP — Director's Dealing 2005

Oct 26, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2005-10-24

Reporting Person: STEPHANS PETER N (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-10-24	Stock Units	$	A	765.31	Acquired		Common Stock (765.31)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	101182	Direct
Common Stock	101182	Indirect
Common Stock	54422	Indirect
Common Stock	54422	Indirect

Footnotes

F1: These shares are held in the Peter N. Stephans Revocable Trust, dated March 15, 2004, Peter N. Stephans and Joan R. Stephans, Trustees

F2: These shares are held in the Joan R. Stephans Revocable Trust, dated March 15, 2004, Peter N. Stephans and Joan R. Stephans, Trustees

F3: These shares are held in the Irrevocable Deed of Trust of Peter C. Rossin and Ada E. Rossin, dated July 12, 1989, Ada E. Rossin and Joan Elizabeth Rossin Stephans, Trustees, for the benefit of the reporting person's children. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16, or for any other purpose.

F4: Converts to common stock on a 1-for-1 basis

F5: Payable upon retirement

F6: Includes dividend equivalents