CARPENTER TECHNOLOGY CORP — Director's Dealing 2007

Apr 26, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2007-04-24

Reporting Person: MCMASTER ROBERT R (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-24	Stock Units	$	A	170.8803	Acquired		Common Stock (170.8803)	Direct

Footnotes

F1: The reporting person was allocated stock units as part of his director compensation package. Fifty percent (50%) of a director's annual compensation is allocated to his/her account. Stock units are converted to common stock on a 1-for-1 basis upon separation in accordance with the terms of the Carpenter Technology Corporation Stock-Based Compensation Plan for Non-Employee Directors.

F2: Converts to common stock on a 1-for-1 basis

F3: Payable upon retirement from the Board.