CARPENTER TECHNOLOGY CORP — Director's Dealing 2006

Feb 3, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2006-02-02

Reporting Person: SHOR MICHAEL L (Sr. VP-Engineered Products Op.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-02	Common Stock	M	2900	$45.56	Acquired	33720.78	Direct
2006-02-02	Common Stock	S	2900	$89.75	Disposed	30820.78	Direct
2006-02-02	Common Stock	M	4400	$49.75	Acquired	35220.78	Direct
2006-02-02	Common Stock	S	4400	$89.75	Disposed	30820.78	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-02	Employee Stock Option (Right to Buy)	$45.56	M	2900	Disposed	2007-06-26	Common Stock (2900)	Direct
2006-02-02	Employee Stock Option (Right to Buy)	$49.75	M	4400	Disposed	2008-06-25	Common Stock (4400)	Direct

Footnotes

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

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.