KENNAMETAL INC — Director's Dealing 2003

Jul 31, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KENNAMETAL INC (kmt)
CIK: 0000055242
Period of Report: 2003-07-29

Reporting Person: WESSNER MICHAEL P (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-29	Common Stock	A	2000	—	Acquired	11131.0196	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2002-07-23	Employee Stock Option (right to buy)	$29.805	A	25000	Acquired	2012-07-22	Common Stock (25000)	Direct

Footnotes

F1: The amount of securities beneficially owned following reported transaction(s) listed in this column includes 341.1375 shares acquired pursuant to tax-conditioned plans (exempt under Rule 16b-3)c)). Specifically, the amount includes: (a) 145.314 shares acquired pursuant to the Kennametal Inc. Thrift Plan; and (b) 195.8235 shares acquired pursuant to Kennametal Inc. Dividend Reinvestment and Stock Purchase Plan.

F2: Option is exercisable in three equal annual installments, commencing on the first anniversary of the grant date.