KENNAMETAL INC — Director's Dealing 2003

Dec 8, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KENNAMETAL INC (KMT)
CIK: 0000055242
Period of Report: 2003-12-05

Reporting Person: WESSNER MICHAEL P (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-05	Common Stock	S	8000	$38.9	Disposed	3271.3594	Direct
2003-12-05	Common Stock	M	6830	$29.2812	Acquired	10101.3594	Direct
2003-12-05	Common Stock	M	1170	$29.2812	Acquired	11271.3594	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-05	Incentive Stock Option (right to buy)	$29.2812	M	6830	Disposed	2011-01-05	Common Stock (6830)	Direct
2003-12-05	Non-Qualified Stock Option (right to buy)	$29.2812	M	1170	Disposed	2011-01-05	Common Stock (1170)	Direct

Footnotes

F1: The option vests in three equal annual installments, commencing with the first anniversary of the grant date. The option vested with respect to one-third of the shares on January 5, 2002 and one-third of the shares on January 5, 2003 and the final one-third of the shares will vest on January 5, 2004.