CARPENTER TECHNOLOGY CORP — Director's Dealing 2007

Jun 19, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2007-06-15

Reporting Person: TURNER KATHRYN C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-15	Common Stock	M	700	$50.375	Acquired	2205.588	Direct
2007-06-15	Common Stock	S	700	$134.50	Disposed	1505.588	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-15	Director Stock Option (Right to Buy)	$50.375	M	700	Disposed	2007-10-20	Common Stock (700)	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 10/20/1997.