CARPENTER TECHNOLOGY CORP — Director's Dealing 2005

May 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2005-05-16

Reporting Person: ROSSIN ADA E (Right to Nominate Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-16	Common Stock	S	46600	$51.9049	Disposed	716826	Indirect
2005-05-17	Common Stock	S	42056	$52.8899	Disposed	674770	Indirect
2005-05-16	Common Stock	S	2700	$51.9049	Disposed	877385	Indirect
2005-05-17	Common Stock	S	2385	$52.8899	Disposed	875000	Indirect
2005-05-16	Common Stock	S	200	$51.9049	Disposed	160	Indirect
2005-05-17	Common Stock	S	160	$52.8899	Disposed	0	Indirect
2005-05-16	Common Stock	S	500	$51.9049	Disposed	425	Indirect
2005-05-17	Common Stock	S	425	$52.8899	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	54422	Indirect
Common Stock	54422	Indirect

Footnotes

F1: Average trading price for shares sold; Price range of trades $51.53 to $52.29.

F2: Indirect ownership as Trustee of the Ada E. Rossin QTIP Trust dated 9/1/1998.

F3: Average trading price for shares sold; Price range of trades $52.61 to $53.25.

F4: Indirect ownership as Co-Trustee of the Ada E. Rossin Revocable Trust dated 9/17/2003.

F5: Indirect ownership as Trustee of the Ada E. Rossin Non QTIP Trust created under Article 6th of the Will of Peter C. Rossin dated September 1, 1998.

F6: Indirect ownership as Executrix of the Peter C. Rossin Estate.

F7: Indirect ownership as co-trustee of trusts created pursuant to an Irrevocable Deed of Trust dated July 12, 1989 (Peter C. and Ada E. Rossin, Grantors) for the benefit of E. L. Stephans. The reporting person disclaims beneficial ownership of these securities and the filing of this Form 4 is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16, or for any other purposes.

F8: Indirect ownership as co-trustee of trusts created pursuant to an Irrevocable Deed of Trust dated July 12, 1989 (Peter C. and Ada E. Rossin, Grantors) for the benefit of K. R. Stephans. The reporting person disclaims beneficial ownership of these securities and the filing of this Form 4 is not an admission that the reporting person is the beneficial owner of these securities for the purposes of Section 16, or for any other purposes.