KENNAMETAL INC — Director's Dealing 2003

Dec 12, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KENNAMETAL INC (KMT)
CIK: 0000055242
Period of Report: 2003-12-11

Reporting Person: GRASBERGER F NICHOLAS III (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-11	Employee Stock Option (right to buy)	$38.48	A	10000	Acquired	2013-12-10	Common Stock (10000)	Direct

Footnotes

F1: The option vests in three equal annual installments, commencing on December 11, 2004.