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: HIBBARD TIMOTHY A (Corporate Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-29	Common Stock	A	1200	—	Acquired	6961.2191	Direct
2003-07-29	Common Stock	A	84	—	Acquired	7045.2191	Direct
2003-07-29	Common Stock	F	25	$38.71	Disposed	7020.2191	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-07-29	Employee Stock Option (right to buy)	$38.71	A	2500	Acquired	2013-07-28	Common Stock (2500)	Direct

Footnotes

F1: The amount of securities beneficially owned following reported transaction(s) listed in this column includes 144.7911 shares acquired pursuant to the tax-conditioned plans (exempt under Rule 16b-3(c)). Specifically, the amount includes: (a) 80.882 shares acquired pursuant to the Kennametal Inc. Thrift Plan; and (b) 63.9091 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.

F3: The reporting person received the reported common stock in lieu of a cash bonus otherwise payable to the reporting person pursuant to the Kennametal Inc. Performance Bonus Stock Plan of 1995.