CARPENTER TECHNOLOGY CORP — Director's Dealing 2005

Sep 2, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2005-08-31

Reporting Person: TURNER KATHRYN C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-31	Common Stock	M	2000	$39.125	Acquired	3481.32	Direct
2005-08-31	Common Stock	S	2000	$55.61	Disposed	1481.32	Direct
2005-08-31	Common Stock	M	2000	$34.375	Acquired	3481.32	Direct
2005-08-31	Common Stock	S	2000	$55.533	Disposed	1481.32	Direct
2005-08-31	Common Stock	M	2000	$23.9375	Acquired	3481.32	Direct
2005-08-31	Common Stock	S	2000	$55.458	Disposed	1481.32	Direct
2005-08-31	Common Stock	M	4000	$23.23	Acquired	5481.32	Direct
2005-08-31	Common Stock	S	4000	$55.45	Disposed	1481.32	Direct
2005-08-31	Common Stock	M	4000	$10.45	Acquired	5481.32	Direct
2005-08-31	Common Stock	S	4000	$55.513	Disposed	1481.32	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-31	Director Stock Option (Right to Buy)	$39.125	M	2000	Disposed	2005-10-23	Common Stock (2000)	Direct
2005-08-31	Director Stock Option (Right to Buy)	$34.375	M	2000	Disposed	2006-10-21	Common Stock (2000)	Direct
2005-08-31	Director Stock Option (Right to Buy)	$23.9375	M	2000	Disposed	2009-10-25	Common Stock (2000)	Direct
2005-08-31	Director Stock Option (Right to Buy)	$23.23	M	4000	Disposed	2011-10-22	Common Stock (4000)	Direct
2005-08-31	Director Stock Option (Right to Buy)	$10.45	M	4000	Disposed	2012-10-28	Common Stock (4000)	Direct

Footnotes

F1: Includes shares acquired under the Carpenter Technology Corporation Dividend Reinvestment Program.

F2: The reporting person was granted an option to purchase stock as part of her director's compensation with an effective grant date of 10/23/1995.

F3: The reporting person was granted an option to purchase stock as part of her director's compensation with an effective grant date of 10/21/1996.

F4: The reporting person was granted an option to purchase stock as part of her director's compensation with an effective grant date of 10/25/1999.

F5: The reporting person was granted an option to purchase stock as part of her director's compensation with an effective grant date of 10/22/2001.

F6: The reporting person was granted an option to purchase stock as part of her director's compensation with an effective grant date of 10/28/2002.