CARPENTER TECHNOLOGY CORP — Director's Dealing 2007

Feb 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2007-02-20

Reporting Person: CHRISTIANSEN DAVID A (VP, Gen. Counsel and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-20	Common Stock	M	6000	$16.12	Acquired	28703.78	Direct
2007-02-20	Common Stock	S	6000	$121.849	Disposed	22703.78	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-20	Employee Stock Option (Right to Buy)	$16.12	M	6000	Disposed	2013-06-26	Common Stock (6000)	Direct

Footnotes

F1: 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.