CARPENTER TECHNOLOGY CORP — Director's Dealing 2006

Nov 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2006-10-30

Reporting Person: VASQUEZ JAIME (VP and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-30	Common Stock	M	3500	$16.12	Acquired	12273.5643	Direct
2006-10-30	Common Stock	S	3500	$107.26	Disposed	8773.5643	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-30	Employee Stock Option (Right to Buy)	$16.12	M	3500	Disposed	2013-06-26	Common Stock (3500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	16.16	Indirect

Footnotes

F1: 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.

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.