CARPENTER TECHNOLOGY CORP — Director's Dealing 2006

Mar 14, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2006-03-13

Reporting Person: FITZPATRICK J MICHAEL (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-13	Common Stock	M	2000	$35.563	Acquired	8597.94	Direct
2006-03-13	Common Stock	M	2000	$23.9375	Acquired	10597.94	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-13	Director Stock Option (Right to Buy)	$35.563	M	2000	Disposed	2008-10-27	Common Stock (2000)	Direct
2006-03-13	Director Stock Option (Right to Buy)	$23.9375	M	2000	Disposed	2009-10-25	Common Stock (2000)	Direct

Footnotes

F1: Includes 2.81 shares acquired under the Carpenter Technology Corporation Dividend Reinvestment Program on 3/2/06 at a price of $85.06 per share.

F2: The reporting person was granted an option to purchase stock as part of his director's compensation with an effective grant date of 10/27/1998.

F3: The reporting person was granted an option to purchase stock as part of his director's compensation with an effective grant date of 10/25/1999.